Oxalic Acid Market

2019 Analysis and Review of Oxalic Acid Market by Grade - Standard Grade, Technical/Pharma Grade, and Electronic/Food Grade for 2019-2029

  • 2020-04-06
  • REP-GB-1267
  • 40 Tables
  • 135 Figures
  • 240 pages
  • Format: PDF/PPT/Excel
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Oxalic Acid Market to Touch US$ 1.2 Bn by 2029

The global oxalic acid market will represent a multimillion-dollar opportunity during the latter half of forecast period (2019-2029), ensuring stable returns to stakeholders. Growth engine will primarily be driven by end-use applications such as industrial, institutional, and domestic cleaning chemicals. Upsurge in industrial output, worldwide, and increasing concerns regarding water treatment are also propelling margin growth. FMI’s study further underlines that the global revenue pool of the oxalic acid market will expand nearly 1.5x over 2019-2029.

Key Factors Shaping Oxalic Acid Market

Exponential Growth in Pharmaceutical and Rare Earths Industries - Major Contributor to Growth of Oxalic Acid Market

Oxalic acid is used for the production of a wide range of medicines, including borneol, terramcyin, tetracycline, and others. The global pharmaceutical industry was pegged at US$ 1.2 trillion in 2018, and is expected to reach US$ 1.6 trillion in 2025. The digital revolution and availability of newer and improved technologies are anticipated to propel the growth of the pharmaceutical industry over the forecast period. Moreover, oxalic acid is also used in the leaching of rare earth metals from ore bodies. Growth of the rare earth metals industry is attributed to growth in the electrical and electronics industry. Thus, growth in pharmaceutical and rare earth industries is expected to push the demand for oxalic acid in the foreseeable future.

Rising Concerns Regarding Sterilization in Pharmaceutical Industry to Propel Demand for Oxalic Acid

Sterilization is the process of killing all microorganisms (viral, bacterial, and fungal) with the use of either physical or chemical agents. Disinfectants like oxalic acid kill microorganisms on inanimate objects such as tables and surgical instruments. Growing concerns related to health hygiene make sterilization an important aspect in the pharmaceutical industry, thereby fuelling the growth of the oxalic acid market. Moreover, technological advancements and use of increasing number of medical instruments are further expected to propel the growth of the global oxalic acid market over the coming years.

Use of Oxalic Acid for Bleaching & Cleaning Purposes for Various Industrial/Household Applications Boosting Growth

Industrial cleaning is another primary application area for oxalic acid, which is used for cleaning applications across a diverse set of industries, including manufacturing and metal working, amongst others. Demand for oxalic acid for use in dry cleaning, metal cleaning, and vapour degreasing applications is growing in most developing countries such as China and India, owing to intense end-use concentration, which is expected to bolster the demand for oxalic acid over the forecast period. On the back of lack of regulations in Asia Pacific as compared to those in North America and Europe, the application of oxalic acid for various cleaning processes is increasing at a significant rate. The industrial cleaning chemicals market is expected to witness steady single-digit growth over the forecast period. Oxalic acid accounts for a considerable share in the overall industrial, institutional, and domestic cleaning chemicals market. These factors are expected to contribute to the growth of the oxalic acid market in the coming years.

East Asian Market Hit by COVID-19 Impact

In terms of value, the oxalic acid market in East Asia led the global market in 2018. The oxalic acid market in China is projected to offer the most lucrative opportunities for revenue generation over the forecast period. The market in East Asia is also expected to record the highest growth rate over the forecast period, owing to the high demand for oxalic acid from petrochemical industries in the region.

The potential impact of the novel COVID-19 pandemic on East Asia’s oxalic acid market is complicated as China is the manufacturing hub of raw materials. However, with the number of confirmed coronavirus cases in China seeing a significant drop recently, China’s chemical industry is recommencing the production. However, deficient labor, uncertainty regarding raw material supplies, and declining demand will continue to restrict the efforts to achieve full production efficiency in near term. Furthermore, key petrochemical units in China have resumed their production, achieving operating rates of 40-70%, which is expected to increase further.

Oxalic Acid Market: Structure Analysis

  • Collaboration with and acquisition of niche players is one of the key strategies followed by leading oxalic acid manufacturers in the market.
  • Mudanjiang Fengda Chemical Co., Ltd., Oxaquim, Merck KGaA, UBE Industries Ltd., Clariant International Limited, Indian Oxalate Limited, Shijiazhuang Taihe Chemical Co., Ltd., Spectrum Chemical Manufacturing Corp., Shandong Fengyuan Chemical Co., Ltd., and Penta s.r.o. are the largest and most experienced in the global oxalic acid market.
  • High market concentration ratio suggests that, there is intense ongoing competition in the global oxalic acid market. Thus, market competitors are deploying cost-effective solutions in order to maintain or enhance their market shares.

Report Metrics

Details

Base Year Considered

2019

Actual Estimates/Historical Data

2014 - 2018

Forecast Period

2019 - 2029

Market Value (2019)

US$ 840 Mn

Segments Covered

Grade, Application, End Use, and Region

Regions Covered

North America, Latin America, Europe, South Asia, East Asia, Oceania, and MEA

Key Players

Mudanjiang Fengda Chemical Co., Ltd., Oxaquim, Merck KGaA, UBE Industries Ltd., Clariant International Limited, Indian Oxalate Limited, Shijiazhuang Taihe Chemical Co., Ltd., Spectrum Chemical Manufacturing Corp., Shandong Fengyuan Chemical Co., Ltd., and Penta s.r.o.

Report Coverage

Revenue Forecasts, Company Share, Competitive Landscape, Growth Factors, and Trends

Standard Grade Oxalic Acid Remains Highly Preferable

Manufacturers continue to capitalize on standard grade oxalic acid (purity 96%-99%), which procures over 40% of overall market value. However, this study highlights that, the standard grade will lose its share to technical/pharma grade oxalic acid (purity 99%-99.9%) in due course of time. Rising concerns regarding the need for sterilization of pharmaceutical equipment are responsible for this transition. Furthermore, both, standard and technical/pharma grade oxalic acid are likely to attain a valuation of around US$ 1 Bn in 2029.

East Asia Continues to Engage Stakeholders

Procuring a significant chunk of total market stack, East Asia would maintain its supremacy in the oxalic acid market. Surging growth of the industrial sector and lax government regulations regarding the usage of oxalic acid are boosting regional market growth. Demand upheaval from applications such as dry cleaning, metal cleaning, and vapor degreasing in countries such as China is likely to garner huge attention of stakeholders. Furthermore, market players are forming strategic mergers and acquisitions to maintain their global presence.

Stakeholders Tapping White Spaces in Pharmaceutical Industry

Oxalic acid is utilized for developing myriads of medicines, such as borneol, terramcyin, and tetracycline. In addition, this organic chemical is finding use as a disinfectant chemical in eliminating microorganisms from surgical instruments (sterilization). Such use cases are offering white spaces to oxalic acid market players. As tech-enabled advancements as well as the count of medical equipment surge, manufacturers must re-align their business models in order to maintain their positive trend in oxalic acid market.

Standard grade (purity 96%-99%) holds leading revenue share

Technical/ pharma grade (purity 99%-99.9%) to show noteworthy CAGR

High usage as bleaching & purifying agent

Application as reducing agent to rise

Surging adoption in petrochemical industry

Consumption in pharmaceutical industry to grow

How Growth will Unfold

The petrochemical industry would remain the immediate consumer of oxalic acid throughout the foreseeable timeframe. Capturing over one-fifth of total market revenue, manufacturers will continue to reap substantial returns from this end-use industry. While opportunities are hovering around water treatment chemicals, the pharmaceutical sector is also offering fertile ground to manufacturers, owing to the increasing need for sterilization to enhance the hygiene of medical facilities. Further, metallurgy and textiles & leather industries share equal divide in the market value.

Oxalic Acid Consumption Analysis, 2019 (E)

* This data is only a representation. Actual data may vary and will be available in report.

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Overview

A recent market study published by Future Market Insights (FMI) on the oxalic acid market includes global industry analysis of 2014-2018 and opportunity assessment for 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. Our analysts conduct thorough research on the historical as well as current growth parameters of the market to obtain growth prospects with maximum precision.

Oxalic Acid Market Taxonomy

Grade

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

Application

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

End Use

  • Petrochemicals
  • Water Treatment Chemicals
  • Metallurgy
  • Textiles & Leather
  • Pharmaceuticals
  • Electronics & Semiconductors
  • Food
  • Wood Pulp
  • Bee-hiving

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

What's Included

The report initiates with the executive summary of the oxalic acid market, which includes a summary of the key findings and statistics of the market. It also includes the demand & supply-side trends pertaining to the oxalic acid market.

In this chapter, readers can find the definition and a detailed taxonomy of the oxalic acid market, which will help them understand the basic information about the oxalic acid market. Along with this, comprehensive information about oxalic acid is provided in this section. This section also highlights the inclusions and exclusions, which help readers understand the scope of the oxalic acid market report.

The oxalic acid market report provides key market trends that are expected to significantly impact market growth during the forecast period. Detailed industry trends are provided in this section.

This section includes successful factors and strategies adopted by key market participants.

This section explains the global market value analysis and forecast for the oxalic acid market for the forecast period of 2019-2029. This chapter includes a detailed analysis of the historical oxalic acid market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and incremental $ opportunity for the forecast period (2019-2029). Along with this, pricing analysis of the oxalic acid market at the regional level has been provided in this section. This section also explains the global market volume analysis and forecast for the oxalic acid market during the forecast period of 2019-2029.

This chapter explains key macroeconomic factors that are expected to influence the growth of the oxalic acid market over the forecast period. Along with the macroeconomic factors, this section also highlights the value chain, supply chain, forecast factors, and value chain analysis for the oxalic acid market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the successive section.

Based on grade, the oxalic acid market is segmented into standard grade technical/ pharma grade, and electronic/ food grade. In this chapter, readers can find information about the key trends and developments in the oxalic acid market and market attractiveness analysis based on grade.

Based on application, the oxalic acid market is segmented into bleaching & purifying agents, reducing agents, stain & rust removers, miticide, precipitation agents, and others. In this chapter, readers can find information about the key trends and developments in the oxalic acid market and market attractiveness analysis based on application.

This chapter provides details about the oxalic acid market based on end use, and has been classified into petrochemicals, water treatment chemicals, metallurgy, textiles & leather, pharmaceuticals, electronics & semiconductors, food, wood pulp, and bee-hiving.

This chapter explains how the oxalic acid market will grow across various geographic regions, such as North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.

This chapter includes a detailed analysis of the growth of the North America oxalic acid market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis, regional trends, and market growth based on application and countries in North America.

This chapter provides the growth scenario of the oxalic acid market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, an assessment of the market across target segments has been provided.

Important growth prospects of the oxalic acid market based on its End Uses in several countries such as the Germany, Italy, France, the U.K., Spain, BENELUX, Nordic, Russia, and the Rest of Europe are included in this chapter.

This chapter highlights the growth of the oxalic acid market in East Asia by focusing on China, Japan, and South Korea. This section also helps readers understand the key factors that are responsible for the growth of the oxalic acid market in East Asia.

This chapter highlights the growth of the oxalic acid market in South Asia by focusing on India, ASEAN, and Rest of South Asia. This section also helps readers understand the key factors that are responsible for the growth of the oxalic acid market in South Asia.

This chapter highlights the growth of the oxalic acid market by focusing on Oceania. This section also helps readers understand the key factors that are responsible for the growth of the oxalic acid market in Australia and New Zealand.

This chapter highlights the growth of the oxalic acid market in the Middle East & Africa by focusing on Turkey, GCC Countries, South Africa, and Rest of Middle East & Africa. This section also helps readers understand the key factors that are responsible for the growth of the oxalic acid market in the Middle East & Africa.

In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the oxalic acid market, along with their market presence analysis by region and product portfolio.

In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the oxalic acid market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are as Mudanjiang Fengda Chemical Co., Ltd., Oxaquim, Merck KGaA, UBE Industries Ltd., Clariant International Limited, Indian Oxalate Limited, Shijiazhuang Taihe Chemical Co., Ltd., Spectrum Chemical Manufacturing Corp., Shandong Fengyuan Chemical Co., Ltd., Penta s.r.o. and others.

This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the Oxalic Acid market report.

This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the Oxalic Acid market.

How the research was conducted?

Primary Research

  • C - Level Executives
  • Marketing Directors
  • Product Managers 
  • Business Development Officers 
  • Production Managers
  • Procurement Heads
  • Sales Executives
  • Distributors
  • Traders 
  • Raw Material Suppliers
  • Industry Experts
  • End Uses
  • Current market dynamics and challenges
  • Yesteryear trends 
  • Market characteristics
  • Market performance and growth quadrants
  • Competition structure and market structure
  • Strategic growth initiatives
  • Near-term and long-term market growth prospects
  • Market segment splits and authenticity
  • Opinions on market projections and validity of assumptions

Secondary Research

  • Industry Publications
    • Industry Associations
    • OICA
  • International Trade Association
  • Factiva
  • Company Press Releases
  • Annual Reports and Investor Presentations
  • Research Papers
  • Government Websites and Publications
  • Trade Websites

Primary Interview Splits

Primary Interview Splits oxalic acid market designation

Primary Interview Splits oxalic acid market stakeholder

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