Oxalic Acid Market to Grow with a CAGR of 4.07% Globally through 2029
Surge in research and development activities is expected to drive the Global
Oxalic Acid Market growth in the forecast period, 2025-2029.
According to TechSci Research report, “Oxalic Acid Market
- Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2029”, the Global Oxalic Acid Market stood at USD1.24 billion in 2023 and is anticipated to grow with a CAGR of 4.07% in the forecast
period, 2025-2029. Initiatives taken by government based on oxalic acid has led
to favorable market conditions for the Global Oxalic Acid Market. Several
factors contribute to the growth of various oxalic acid products.
One such initiative that has gained attention is the
exemption from the requirement of a tolerance for residues of oxalic acid on
honey and honeycomb, as established by the Federal Register. This regulation,
which has been put in place, allows for the use of oxalic acid in beekeeping
practices, specifically in the treatment of Varroa mites, a significant and
destructive threat to honey bee colonies.
The United States Department of Agriculture (USDA) has
not only recognized oxalic acid dihydrate as a substance that can be used in
organic farming but also supports its application in the agricultural sector.
This recognition of oxalic acid's effectiveness and safety in agriculture has
opened up new and promising possibilities for its utilization in various
farming practices, contributing to the overall improvement of crop yields and
sustainability. With its proven track record in combating pests and promoting
plant health, oxalic acid is emerging as a valuable tool in the hands of
farmers and growers, revolutionizing the way we approach pest management and
crop protection.
As the agricultural the industry continues to evolve,
the inclusion of oxalic acid in farming practices represents a significant step
towards sustainable and environmentally friendly solutions. Its integration
into organic farming practices not only enhances the productivity of crops but
also ensures the preservation of the ecosystem by reducing the reliance on
synthetic chemicals. This move towards organic and sustainable agriculture
aligns with the growing consumer demand for healthier and more environmentally
conscious food choices.
Browse over XX market data Figures spread
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The ongoing research and development (R&D)
initiatives are primarily centered around enriching product offerings and
exploring groundbreaking applications of oxalic acid in diverse sectors like
pharmaceuticals, textiles, and electronics. Moreover, the dedicated researchers
are actively striving to enhance the production process by introducing greater
efficiency and ensuring environmental sustainability. Through these concerted
efforts, the aim is to unlock new possibilities and drive innovation in the
utilization of oxalic acid across various industries.
The Global Oxalic Acid Market is segmented into product
grade, application, regional distribution, and company.
Based on its product grade, the dihydrate segment held
the largest market share in the forecast period. The production of oxalic acid
dihydrate is generally simpler and less energy-intensive compared to the
production of anhydrous oxalic acid. This is due to the fact that dihydrate is
formed by combining oxalic acid with water molecules, while anhydrous oxalic
acid requires the removal of water. The simplified production process of oxalic
acid dihydrate results in lower production costs, making it a more
price-competitive option for both manufacturers and end users. Additionally,
the presence of water molecules in dihydrate provides certain advantages in
terms of stability and handling.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
The growing demand for oxalic acid from the
pharmaceutical sector across Asian countries, including India, China, and
Japan, is one of the primary factors driving the growth of the target industry
in the Asia-Pacific region. This demand is fueled by the increasing use of
oxalic acid in various pharmaceutical applications, such as drug synthesis and
formulation. In addition, the Asia-Pacific region, particularly China, stands
out as one of the world's largest producers and consumers of oxalic acid. The
abundant availability of raw materials and favorable government policies
further contribute to China's dominance in oxalic acid production. With its
robust manufacturing capabilities and expanding pharmaceutical market, China
plays a pivotal role in shaping the growth trajectory of the oxalic acid
industry in the Asia-Pacific region.
Major companies operating in
Global Oxalic Acid Market are:
·
Mudanjiang Fengda Chemical Co., Ltd.
·
Oxaquim SA
·
Merck KGaA
·
UBE Industries Ltd.
·
Clariant International Limited
·
Indian Oxalate Limited
·
Shijiazhuang Taihe Chemical Co., Ltd.
·
Spectrum Chemical Manufacturing Corp.
·
Shandong Fengyuan Chemical Co., Ltd.
·
Penta s.r.o
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“Oxalic acid is an effective cleaning agent and is
used in household cleaning products, rust removers, and industrial cleaners.
The increasing demand for cleaning products, driven by hygiene awareness and
industrial cleaning applications, has been fueling the demand for oxalic acid.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Global Oxalic Acid Market By Product
Grade (Anhydrous, Dihydrate, Aqueous Solution), By Application (Bleaching
& Purifying Agents, Reducing Agents, Stain & Rust Removers, Miticide,
Precipitation Agents), By Region, By
Competition Forecast & Opportunities, 2019-2029”, has evaluated
the future growth potential of Global Oxalic Acid Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Oxalic Acid Market.
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