Oxalic Acid Market Size to Reach at CAGR of 3.8% by 2022 with Market Key Players - Ube industries, ltd., Shanxi Province Yuanping Chemicals Co., Ltd., Joaquim S.A., Indian Oxalate Ltd. TongliaoJinmei Chemicals Co., Ltd, and others.

Oxalic Acid Market Size and Growth Rate:

According to the Research Report by Research Cosmos, The Global Oxalic Acid Market Size is poised to reach USD XX Million by the end of 2022 from USD 532 Million in 2017 and this market witnessed a growth rate of 3.8% during the forecast period 2018-2022.

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Oxalic Acid Market Overview:

Oxalic acid is widely used as a bleaching or cleaning agent, and as a mordant in the dying process. Oxalic acid is at a high focus as it can be a dangerous poison. it is used in pharmaceutical for the purification or dilution purpose and as a bleaching agent in the textile and wood industry.
Oxalic Acid Market Growth Drivers, Challenges, and Opportunities:
The enormous size in rare earth and pharmaceutical industry is the major driver to the swelling of the oxalic acid market. The global oxalic acid market is projected to grow substantially in the forecast period. Additionally, several companies are adopting attractive strategies such as expansion, collaboration, and a joint venture to accelerate the growth of the market.
The major factor is exponential growth in pharmaceutical and rare earth industry and it is a contributor to the growth of Oxalic Acid Market. A special performance of Oxalic Acid in bleaching and cleaning purpose at different industrial/household applications is a positive indicator projected to the increase of this market. The growing concern towards sterilization in the industry also drives the demand for the market. Due to its corrosive nature and toxic, industrial as well as household use and handling might create restraint in the demand of Oxalic acid.

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Oxalic Acid Market Geographic Segmentation:

Based on the regional analysis, the global oxalic acid market can be segmented into Europe, Asia Pacific, Middle East & Africa, North America, and Latin America. The Asia Pacific region is estimated to be the largest consumer of oxalic acid in the world by volume. Primarily, China is a major consumer, producer as well as exporter of oxalic acid. The exponential growth in the rare earth industry, pharmaceutical as well as textiles is the primary factors behind the rise of oxalic acid consumption in Asian countries. The exponential growth in the rare earth industry, pharmaceutical as well as textiles is the major factors behind the rise of oxalic acid consumption in Asian countries. Europe is estimated to be one of the highest growing markets for oxalic acid. The USA due to the increasing demand in the application sector is also indicating a positive prospect to the demand in oxalic acid consumption.

Key players of the Oxalic Acid Market:

Some of the major market players of the global oxalic acid market are Ube industries, ltd., Shanxi Province Yuanping Chemicals Co., Ltd., Joaquim S.A., Indian Oxalate Ltd. TongliaoJinmei Chemicals Co., Ltd, and others.

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