According to the SNS Insider report, the Oxalic Acid Market, valued at USD 978 million in 2022, is estimated to reach USD 1412.25 million by 2030, growing at a CAGR of 4.7% over 2023-2030. The oxalic acid market experiences significant growth due to rising demand from diverse industries and increasing awareness of sustainable cleaning agents, marking a shift towards environmentally friendly practices.The oxalic acid market is experiencing steady growth, driven by its diverse applications across various industries, including pharmaceuticals, agriculture, cleaning agents, and metal polishing. Oxalic acid, a naturally occurring organic compound found in many plants and vegetables, is commercially produced through chemical synthesis or extraction from natural sources such as rhubarb and spinach. Its unique properties, including strong acidity and chelating ability, make it a versatile ingredient in a wide range of industrial and consumer products.

One significant trend shaping the oxalic acid market is the increasing demand for environmentally friendly and sustainable cleaning agents and rust removers. Oxalic acid's ability to effectively dissolve and remove rust, stains, and mineral deposits without harsh chemicals or abrasives has made it a preferred choice for environmentally conscious consumers and industries. As concerns about pollution and health risks associated with conventional cleaning products grow, there is a growing preference for natural and biodegradable alternatives, driving the demand for oxalic acid-based cleaners and rust removers.

Moreover, the oxalic acid market is witnessing growing demand from the agriculture sector, where it is used as a crop desiccant, bleaching agent, and pH regulator in soil treatment. Oxalic acid effectively controls weed growth, removes mineral deposits from irrigation systems, and enhances soil acidity, improving nutrient availability and crop yields. With the increasing adoption of sustainable farming practices and organic agriculture, the demand for oxalic acid as a natural and environmentally friendly agricultural input is expected to continue rising.

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KEY PLAYERS

• Clariant International Ltd.
• UBE Industries Ltd.
• Indian Oxalate Ltd.
• Oxaquim S.A.
• Merck KGaA
• Spectrum Chemical Manufacturing Corp.
• Mudanjiang Fengda Chemical Co. Ltd.
• Star Oxochem Pvt. Ltd.

Market Report Scope:

Oxalic acid, a compound found in various plants, is extensively used across industries. Its applications in cleaning, metal polishing, textiles, and pharmaceuticals contribute to its growing demand. The compound's role in antibiotic production and advancements in graphene synthesis further fuel its market expansion. The pharmaceutical sector, driven by the global rise in healthcare demands, significantly boosts the oxalic acid market. The petrochemical sector's increasing use also contributes to the market's modest expansion. With applications in pharmaceuticals, oxalic acid is witnessing increased demand for antibiotics and antiseptics production.

Market Analysis:

Oxalic acid, a key component in pharmaceuticals, is witnessing heightened demand, especially in the healthcare industry. The pharmaceutical sector's expansion, coupled with the need for sterilizing equipment, propels the technical/pharma-grade oxalic acid segment. Its use in drugs and tooth-whitening products, coupled with applications in industries like petrochemicals, presents growth opportunities. However, health concerns related to oxalic acid toxicity and oxalic acid's impact on kidney stones pose challenges, hindering market growth.

Market segmentation

By Grade

• Standard Grade (Purity 96%-99%)
• Technical/Pharma Grade (Purity 99%-99.9%)
• Electronic/Food Grade (Purity 99.9%-99.999%)

By Application

• Bleaching Purifying Agents
• Sterilization
• Stain Rust Removers
• Reducing Agents
• Precipitation Agents
• Miticide
• Others

By End-use

• Pharmaceuticals
• Metallurgy
• Water Treatment Chemicals
• Food Beverage
• Agriculture
• Paints Coatings
• Textiles Leathers
• Electronics Semiconductor
• Plastics
• Others

Segment Analysis:

By Grade, the Technical/Pharma grade segment dominated the oxalic acid market, driven by increased demand in the pharmaceutical industry, accounting for the highest CAGR of about 4.9%. In applications, the bleaching and purifying agent’s category led due to the compound's bleach-like properties, extensively used in various industries.

Regional Development:

The Asia Pacific dominated the market, with China as a major player, owing to its large-scale manufacturing capabilities and government policies favoring the industry. In North America, the United States contributes significantly, with a CAGR of 4.8%, driven by advanced manufacturing capabilities and increasing awareness of oxalic acid's benefits.

Key Takeaways:

• The oxalic acid market is poised to reach USD 1412.25 million by 2030, with a CAGR of 4.7%.
• Technical/Pharma grade oxalic acid sees the highest growth, driven by pharmaceutical demands.
• The bleaching and purifying agent’s category leads in applications due to its versatile use across industries.
• The Asia Pacific dominates with a 37.4% revenue share, led by China's manufacturing capabilities.
• The United States contributes significantly to North America's growth, driven by various applications.

Recent Developments:

• In 2021, Oxaquim, a leading European oxalic acid producer, increased production capacity at Alcañiz facilities, catering to rising demand, particularly in the rare earth industry.

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