Press release
Global Oxalic Acid Market 2024-2033: Size, Share and Competitive Landscape Analysis
Oxalic Acid Market
The oxalic acid market size is expected to see steady growth in the next few years. It will grow to $1.5 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to pharmaceutical and medical applications expansion, renewable feedstocks, green cleaning solution, food industry innovation, water treatment solutions. Major trends in the forecast period include carbon capture and sequestration, selective oxidation processes, antibacterial and antiviral properties, nanostructured oxalic acid applications, biodegradable formulations.
Market Overview -
Oxalic acid is a chemical compound with the formula C2H2O4 and is used as a cleaning agent and rust remover. Its acidic properties make it effective in dissolving and removing mineral deposits, stains, and rust from various surfaces.
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Growing Concerns Over Surgical Site Infections To Propel Oxalic Acid Market
The rising concerns regarding the increase in surgical site infections will boost the oxalic acid market going forward. Surgical site infections (SSIs) refer to infections that occur at the site of a surgical incision or in the tissue layers affected by the surgical procedure. These infections can occur after any surgical procedure, ranging from minor outpatient to major surgeries. Oxalic acid has antimicrobial properties and potential antimicrobial activity against certain bacteria and fungi, which helps against surgical site infections. For instance, in January 2023, according to the Centers for Disease Control and Prevention, a US-based government agency, the SSI standardized infection ratio (SIR) associated with all operational procedure categories increased by around 3% in 2021 compared to the previous year. Therefore, rising concerns regarding the increase in surgical site infections will drive the oxalic acid market.
Competitive Landscape -
Major companies operating in the oxalic acid market report are 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., Hibrett Puratex, 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.
Increasing Investments Drive Growth In The Oxalic Acid Market
Increasing investments are a popular trend in the oxalic acid market. Major companies operating in the oxalic acid market are focused on increasing investments to meet demand and sustain their position in the market. For instance, in May 2022, Oxaquim S.A, a Spain-based oxalic acid producer company, stated that it would boost its annual production capacity from 20,000 to 25000 metric tons by investing 44 million euros ($47.05 million) in the expansion of its Alcaniz factory and the development of a new facility in Andorra. This expansion will meet the future demand for oxalic acid.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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