What Fueled The Previous Growth In The Oxalic Acid Market?
The oxalic acid market has seen considerable growth due to a variety of factors.
•In recent times, the oxalic acid market has seen a consistent expansion. It is anticipated to increase from $1.25 billion in 2024 to $1.3 billion in 2025, with a compound annual growth rate (CAGR) of 4.0%.
The escalation in the past period was brought on by factors such as advances in chemical production, the effect of the industrial revolution, the expansion of the textile industry, and the use of oxalic acid in metal cleaning, rust removal, wood bleaching, and stain removal.
What Is The Expected Growth In The Oxalic Acid Market Size?
The oxalic acid market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of oxalic acid is set to witness robust growth in the coming years, reaching a value of $1.61 billion by 2029, experiencing a compound annual growth rate (CAGR) of 5.5%.
This growth expected in the projection period is due to factors such as the widening scope in the medical and pharmaceutical sectors, renewable feedstock, green cleaning methods, innovative strategies in the food industry, and solutions involving water treatment. The future major trends are foreseen to involve carbon capture and storage, selective oxidation techniques, properties effective against bacteria and viruses, applications involving nanostructured oxalic acid, and biodegradable formulations.
What Main Forces Are Fueling Expansion In The Oxalic Acid Market?
Growing apprehension about the escalation in surgical site infections is set to drive the oxalic acid market forward. Surgical site infections, or SSIs, are infections that originate at the surgical incision site or the affected tissue layers post-surgery. These infections can surface after any kind of surgical procedure, from minor outpatient operations to major surgeries. Oxalic acid, which possesses antimicrobial properties and potential activity against specific bacteria and fungi, can assist in the fight against these infections. As an example, in January 2024, according to data released by the Centers for Disease Control and Prevention, a US-based government body, there was a roughly 4% rise in the standardized infection ratio (SIR) for surgical site infections (SSI) spanning all NHSN operative procedure categories compared to the previous year. As a result, the growing apprehension about the escalation in surgical site infections is set to drive the oxalic acid market.
What Are The Primary Segments In The Global Oxalic Acid Market?
The oxalic acid market covered in this report is segmented –
1) By Product Grade: Anhydrous, Dihydrate, Aqueous Solution
2) By Process: Oxidation Of Carbohydrates, CO Coupling Reaction, Oxidation Of Propylene, Sodium Formate Process
3) By Application: Bleaching And Purifying Agents, Reducing Agents, Stain And Rust Removers, Miticide, Precipitation Agents, Other Applications
4) By End Use: Petrochemicals, Water Treatment Chemicals, Metallurgy, Textiles And Leather, Pharmaceuticals, Electronics And Semiconductors, Wood Pulp, Bee-Hiving
Subsegments:
1) By Anhydrous: Technical Grade, Pharmaceutical Grade
2) By Dihydrate: Technical Grade, Pharmaceutical Grade
3) By Aqueous Solution: Industrial Grade, Laboratory Grade
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Which Key Trends Are Driving Changes In The Oxalic Acid Market?
A notable trend in the oxalic acid market is the surge in investments. Key players in this market are concentrating on boosting investments to cater to the growing demand and to maintain their market standing. Oxaquim S.A, a company based in Spain that produces oxalic acid, for example, in May 2022, announced its plans to increase its yearly production capacity from 20,000 to 25,000 metric tons. The company will invest 44 million euros ($47.05 million) to expand its Alcaniz factory and to establish a new facility in Andorra. This expansion is expected to meet future oxalic acid demand.
Who Are the Key Players in the Oxalic Acid Market?
Major companies operating in the oxalic acid market include:
• Honeywell International Inc.
• Merck KGaA
• Clariant AG
• UBE Corporation
• Sigma-Aldrich Co. LLC
• PCC Rokita SA
• Shandong Fengyuan Chemical Co. Ltd
• Alfa Aesar
• Spectrum Chemical Manufacturing Corp.
• Punjab Chemicals And Crop Protection Ltd.
• Chongqing Changyuan Group Limited
• Gem Chemicals
• Penta s.r.o
• Chemtex Specialty Limited
• Shijiazhuang Taihe Chemical Co. Ltd.
• Lab-Chem Corporation
• Noah Chemicals
• PANGEA CHEMICALS PRIVATE LIMITEDPangea Chemicals Pvt Ltd
• Nanjing Jiayi Sunway Chemical Co. Ltd.
• TRInternational Inc.
• Oxaquim S.A.
• Uranus Chemicals Co. Ltd.
• Mudanjiang Hongli Chemicals Co. Ltd.
• Star Oxochem Private Limited
• Shanghai Yixin Chemical Co. Ltd.
• Shijiazhuang Xinlongwei Chemical Co. Ltd.
• Shandong Baovi Energy Technology Co. Ltd.
• Hefei TNJ Chemical Industry Co. Ltd.
• Shandong Baoyuan Chemical Co. Ltd.
What Is The Most Dominant Region In The Oxalic Acid Market?
Asia-Pacific was the largest region in the oxalic acid market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the oxalic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
