Oxalic Acid Market Insights on Trends, Drivers and Opportunities by 2022 & key players - Shanxi Province Yuanping Chemicals Co., Ltd., Ube industries, ltd., Oxaquim S.A., Tongliao Jinmei Chemicals Co., Ltd and Indian Oxalate Ltd.

Oxalic Acid Market Size and Growth Rate:
Oxalic Acid Market was valued at USD 532 Million in 2017 and projected to reach USD xx Million by 2022 growing at a CAGR of 3.8% during the forecast period 2018 to 2022.

Oxalic Acid Market Overview:
Oxalic acid market is expected to have continuous growth rate during the forecast period. Oxalic acid is an organic compound which has high acidic strength than other chemical compounds comparatively. It is a colorless crystalline solid and does not affect the physical properties when it acts as a solvent. Over 25% of oxalic acid which is produced is used as a mordant in dying process. The wide application of this organic compound lies in the cleaning of rust metals in metal industry. Oxalic acid is also applicable in purifying the drugs in pharmaceutical companies. The utilization of oxalic acid is widely spreading into leather tanning process and also in the rare earth industry.

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Oxalic Acid Market Growth Drivers and Restraints:
The growing prevalence in the pharmaceutical companies to meet the requirements with the increase in the incidences of chronic diseases is a key driving factor for the growth of the market. Another attribute propelling the demand of the market is from the increasing demand from the waste water treatment process in various industries. However, the oxalic acid is very powerful and can form into dangerous poison which is a challenging factor for the manufacturers to avoid complexity while preparing. Lack of sufficient knowledge regarding the safety precautions to be taken while using this compound is silently hampering the growth of the market.

Oxalic acid is certainly fueling its usage in the pharmaceutical companies and is a main compound used for purification and dilution of the drugs in manufacturing that enhances the quality is surging the growth opportunities for the market. Moreover, the government support in investments and also introduction of various economic strategies, are lucratively supporting the growth of the market.

Geographic Insights of Oxalic Acid Market:
Asia pacific witnessed in leading shares of the market owing to increased scale of the pharmaceutical industries and growing demand from the textile industry. Especially, China and India are major counties contributing to the highest shares of the market. North America is anticipated to lead the market with increase in the awareness of utilizing this oxalic acid in various fields. Europe and Middle East & Africa are esteemed to have tremendous growth rate in the near future.

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Key Market Players of Oxalic Acid Market:
Shanxi Province Yuanping Chemicals Co., Ltd., Ube industries, ltd., Oxaquim S.A., Tongliao Jinmei Chemicals Co., Ltd and Indian Oxalate Ltd are prominent players in the oxalic acid market.

Oxalic Acid Market Key Segmentation:
By Product Types
• Industrial
• Refined

By Processes
• Oxidation of Carbohydrates
• CO Coupling Reaction
• Oxidation of Propylene
• Sodium Formate Process

By Applications
• Rare Earth
• Pharmaceuticals
• Fine Chemicals
• Textile
• Other

By Region:
• North America
• South America
• Europe
• Asia Pacific
• Middle East and Africa

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