Press release
Global Oxalic Acid Market Projected to Surpass $1.61 Billion by 2029 with 5% Annual Growth
Oxalic Acid Market
The mounting anxiety over the escalating rate of surgical site infections is set to augment the oxalic acid market. Surgical site infections refer to the infections that manifest on the surgical incision location or within the tissue layers impacted by the operation. These contagions may arise post-surgery, be it minor outpatient surgeries or major ones. Owing to its antimicrobial attributes and potential activities against particular bacteria and fungi, Oxalic acid proves beneficial in combating these infections. For example, in January 2024, the Centers for Disease Control and Prevention, a U.S government entity, reported around a 4% surge in the standardized infection ratio (SIR) for surgical site infections across all NHSN operative procedure categories, in comparison to the earlier year. As such, the escalating worries over the heightened incidents of surgical site infections will stimulate the oxalic acid market.
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What is the projected compound annual growth rate (CAGR) of the oxalic acid market from 2025 to 2034, and what factors influence it?
The industry of oxalic acid has witnessed stable expansion in the preceding years. From 2024 to 2025, the market size is projected to climb from $1.25 billion to $1.3 billion, reflecting a compound annual growth rate (CAGR) of 4.0%. The historical growth is linked to evolutions in chemical production, influences of the industrial revolution, surge in the textile sector, metal sanitation and rust eradication, as well as wood lightening and stain elimination.
The market size of oxalic acid is anticipated to witness significant expansion in the coming years, scaling up to $1.61 billion by 2029, with a Complex Annual Growth Rate (CAGR) of 5.5%. The considerable growth during the forecast period is primarily due to the expansion in pharmaceuticals and medical applications, the advent of renewable feedstocks, eco-friendly cleaning solutions, pioneering in the food industry, and innovations in water treatment solutions. Key trends for the forecast period involve carbon capture and sequestration, selective oxidation procedures, antibacterial and antiviral characteristics, nanostructured applications of oxalic acid, and biodegradable formulations.
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What trends are poised to drive the future success of the oxalic acid market?
The oxalic acid market is witnessing a trend of escalated investments. Key players in the oxalic acid industry are destining increased funds to cater to the market demand and maintain their standing. For example, in May 2022, Oxaquim S.A, a firm producing oxalic acid based in Spain, declared its commitment to enhance its yearly production volume from 20,000 to 25,000 metric tons. This commitment would require an investment of 44 million euros ($47.05 million) aimed at expanding its Alcaniz factory as well as establishing a new plant in Andorra, thereby catering to the anticipated demand for oxalic acid.
What are the major segments of the oxalic acid market and their role in driving growth?
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 regions are key players in the growth of 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.
Who are the key firms paving the way for growth 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.
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What Is Covered In The Oxalic Acid Global Market Report?
• Market Size Forecast: Examine the oxalic acid market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the oxalic acid market for a structured understanding.
• Key Players Overview: Analyze major players in the oxalic acid market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the oxalic acid market.
• Segment Contributions: Evaluate how different segments drive overall growth in the oxalic acid market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the oxalic acid market.
• Industry Challenges: Identify potential risks and obstacles affecting the oxalic acid market.
• Competitive Landscape: Review strategic developments in the oxalic acid market, including expansions, agreements, and new product launches.
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