The Global Oxalic Acid Dihydrate Market Is Expected To Grow At A CAGR Of 5.5% From 2023 To 2030.
Oxalic Acid Dihydrate Market Overview:
Oxalic acid dihydrate is a colorless crystalline solid used as a cleaner, wood bleach, and rust remover. The growth of the market can be attributed to the increasing demand for rare earth mounds, pharmaceuticals, and textiles. Oxalate dihydrate is used as a precursor for the production of rare earth mounds, which are used in various applications such as magnets, lasers, and lighting. It is also used in the pharmaceutical and textile industries due to its properties such as corrosion inhibition and dyeing ability. Moreover, the growing population and rising income levels are expected to drive the demand for textiles globally.
Oxalic Acid Dihydrate market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Oxalic Acid Dihydrate market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Major Segments Covered in the Global Oxalic Acid Dihydrate Market:
Market Key Players:
Clariant, Ube Industries, HeFei DongFeng General Chemicals, Hill Brothers Chemical, Indian Oxalate, LabChem, Mudanjiang Hongli Chemicals, Orica Australia, Punjab Chemicals & Crop, Radiant Indus Chem, Shanxi Province Yuanping Chemicals, Star Oxochem, Uranus Chemicals, And Others.
Oxalic Acid Dihydrate Market by Types:
- Chemical Synthesis
Oxalic Acid Dihydrate Market by Applications:
- Rare Earth Industry
Oxalic Acid Dihydrate Market by Regions:
The report estimates revenue growth at the worldwide, regional, and country levels and delivers an analysis of the recent industry trends in each sub-segment from 2017 to 2030.
Asia Pacific is the largest market for oxalic acid dihydrate globally in terms of consumption and production. The region accounted for more than 60% of the total market capacity in 2015. China is one of the major producers and exporters of rare earth elements, which lead to electronics, automobiles, construction, etc.
Asia Pacific is expected to witness a slower growth rate due to increasing reserves of rare earth elements in Europe and North America, thereby reducing reliance on imports from China. Moreover, rising awareness about health hazards associated with chemical compounds will reduce industry growth, further negatively impacting regional demand over the forecast period. North America is emerging as a potential consumer owing to high demand for the product from the pharmaceutical industry, low export and outbound shipments, and limited imports from the U.S.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
The human body needs oxalic acid. It is important for colon health. When humans do not get enough ascorbic acid in their diet, it is produced by the body. This is because oxalate binds to calcium in the colon, and eating a diet that contains both oxalate and calcium can minimize the occurrence of stones. Oxalic acid is found in abundance in all antioxidant-rich foods. Oxalic acid is found in some of the world's healthiest foods.
Oxalic acid is commonly used in the pharmaceutical sector to take medicines and other pharmaceuticals such as antibiotics. Antibiotics and other pharmaceuticals are bolstering the pharmaceutical market due to growing awareness of microbial contamination and health risks. The rise of the pharmaceutical industry is a major driver for the oxalic acid market.
Metal polishing to remove rust, manufacture of anodized coatings, metal refining and surface polishing all use oxalic acid. These factors also contribute to the growth of the global oxalic acid market.
The chemical industry is driving demand for oxalic acid. This is because standard-grade oxalic acid is favored and driving change in the face of growing concerns about the need for sterilization of pharmaceutical equipment. The market share of 96% to 99% pure standard-grade oxalic acid accounts for 40% of the global market share. However, industrial oxalic acid with a purity of 99% to 99.9% is expected to lose market share and cause market disruption.
Report Scope of Global Oxalic Acid Dihydrate Market:
Points Covered in the Report
- The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
- The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Frequently Asked Questions-
What is the CAGR of the Oxalic Acid Dihydrate market?
The Oxalic Acid Dihydrate Market is growing at a CAGR of 5.5% During the Forecast Period.
What are the key types and applications of the Oxalic Acid Dihydrate market?
- Biosynthesis, Chemical Synthesis
- Rare Earth Industry, Pharmaceuticals, Textile, Others
Who are the key players in the Oxalic Acid Dihydrate market?
Clariant, Ube Industries, HeFei DongFeng General Chemicals, Hill Brothers Chemical, Indian Oxalate, LabChem, Mudanjiang Hongli Chemicals, Orica Australia, Punjab Chemicals & Crop, Radiant Indus Chem, Shanxi Province Yuanping Chemicals, Star Oxochem, Uranus Chemicals, And others.
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Note – In order to provide a more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.