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Oxalic Acid Market Expansion Continues, with Forecast Valuation of $1.61 Billion by 2029
Oxalic Acid
Oxalic Acid Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
There has been a consistent expansion in the size of the oxalic acid market in the past few years. It is projected to increase from $1.25 billion in 2024 to $1.3 billion in 2025, achieving a compound annual growth rate (CAGR) of 4.0%. The significant growth during the preceding period is a result of advancements in chemical manufacturing, the influence of the industrial revolution, the expansion of the textile industry, and the demand for metal cleaning and rust removal, as well as wood bleaching and stain removal.
Oxalic Acid Market Size Forecast: What's the Projected Valuation by 2029?
In the forthcoming years, the oxalic acid market is projected to experience robust growth, with its size poised to reach $1.61 billion in 2029, reflecting a compound annual growth rate (CAGR) of 5.5%. The growth during the forecast period is likely to be driven by the expansion in pharmaceutical and medical applications, renewable feedstocks, eco-friendly cleaning solutions, advancements in the food industry, and water treatment solutions. Key trends that will shape the forecast period involve carbon capture and sequestration, selective oxidation processes, the antibacterial and antiviral qualities of oxalic acid, the application of nanostructured oxalic acid, and biodegradable formulations.
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What Are the Drivers Transforming the Oxalic Acid Market?
Rising apprehensions about the escalation of surgical site infections will propel the oxalic acid market in the future. Surgical site infections (SSIs) are defined as infections appearing at the surgical incision site or within the various layers affected during the surgical process. These infections can emerge following any type of surgical procedure, varying from minor outpatient to major surgeries. Oxalic acid, thanks to its antimicrobial properties and possible antimicrobial action against specific bacteria and fungi, assists in combating surgical site infections. As an illustration, the Centers for Disease Control and Prevention, a US government agency, recorded approximately a 4% rise in the standardized infection ratio (SIR) for SSIs across all NHSN combined operative procedure categories in January 2024, in comparison to the previous year. Consequently, the escalating concerns about the uptick in surgical site infections will stimulate the oxalic acid market.
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What Long-Term Trends Will Define the Future of the Oxalic Acid Market?
The oxalic acid market is witnessing a trend of escalating investments. Key players in the oxalic acid market are concentrating on amplifying their investments to fulfil the demand and maintain their market dominance. For instance, Oxaquim S.A, an oxalic acid producing company based in Spain, announced in May 2022, that it plans to increase its annual production capacity from 20,000 to 25,000 metric tons. This increase will be achieved by investing 44 million euros ($47.05 million) in the enlargement of its Alcaniz factory and the construction of a new plant in Andorra, designed to meet future oxalic acid demands.
Which Segments in the Oxalic Acid Market Offer the Most Profit Potential?
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 Firms Dominate the Oxalic Acid Market by Market Share and Revenue in 2025?
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.
Which Regions Offer the Highest Growth Potential in 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.
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