Global Oxalic Acid market 2024-2030

The name is derived from the word ‘Oxalis' (flowering plant). It is an organic compound, generally found in rhubarb leaves, wood sorrel, and some plants. It is a crystalline solid which has no color, not even when mixed with water. It is also naturally found in many edibles. Some amount of consumption is not harmful but excessive usage can cause severe health issues.

Oxalic acid has various uses; it is used for cleaning purpose for both wood and stone. The iron rust is also removed using oxalic acid. Also, the stains on various matters like fabrics, floor, and brick et cetera can be removed using oxalic acid. It has been long used in pharmaceutical industries as well. Besides all these, it is also used as a reducing agent and as wastewater cleanser. This is so because it can eat away calcium from water.

The report on global oxalic acid market shows insights on the current market scenario by conducting over 280 hours of primary and secondary research. As per the report, global oxalic acid market is growing its area and effective sphere of influence very fast and is gaining popularity. The value of oxalic acid market was estimated at US $ xxx million in 2018. It has been estimated to grow at a rapid CAGR of xxx % from 2018 to 2023 and reach the level of US $ xxx million by the year 2023.

The increased demand in pharmaceutical industry for medicine production drives the growth of oxalic acids. Also, there is a continuation in its application for the household and another commercial purpose, as a cleaner and reducing agent. Also, the textile industry is now dependant on oxalic acids for various purposes. So, these are the causes which give an impetus to the growth of oxalic acid.

There are significant drawbacks facing oxalic acids, i.e., it is corrosive and toxic as well. Good consumption of this acid causes terrible health effects due to which there can be a decreasing level of demand for oxalic acids.

There is globally a good demand of oxalic acids. Asia is the largest consumer with China being the topmost consumer followed by India. It is so because these countries are currently on the path of development. Also, the USA and European countries like Germany have great demand for oxalic acid.

There is a massive competition in the market regarding the manufacturing and selling of oxalic acid primarily due to its high demand. Various companies are involved in this race; these are- UBE Industries Ltd., Punjab Chemical and Crop Protection Limited (PCCPL), Radiant Indus Chem Pvt. Ltd. (RICPL), Oxaquim S.A, Star Oxochem Pvt. Ltd, LabChem inc. Sigma-Aldrich Corporation, and Honeywell International Inc.

The research procedure starts with the bifurcation of different market segments of global oxalic acid market, followed by detection of factors affecting the growth each segment. Then, the market forecasts were built based on the inputs given by the business leaders across global oxalic acid industry value chain. Market Krystal held more than 40 interviews for this study, details of which are mentioned:

By company type:

Manufacturers (35%), Suppliers (35%), Consumers (10%), Researchers (10%), Independent industry consultant (10%)

By geography:

North America (35%), Asia (30%), Europe (35%)

By designation:

Top level (40%), Operation level (30%), Mid-level (30%)

Contents of the report:

• Insights on the global oxalic acid industry dynamics
• Current estimation of the global oxalic acid market size in terms of value and volume
• Global oxalic acid market breakup based on product type and application.
• Authenticated global oxalic acid market forecast for the next five years
• Comprehensive analysis of the key companies operating across different nodes of global oxalic acid industry value chain.

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