Oxalic Acid Market Size To Reach $ 843.4 Million By 2030

Oxalic Acid Market Growth & Trends

The global oxalic acid market size is anticipated to reach USD 843.4 million by 2030 and is anticipated to expand at a CAGR of 4.8% during the forecast period, according to a new report by Grand View Research, Inc. Oxalic acid is an important intermediate in the synthesis of various chemicals, including oxalates and metal oxides. These compounds are used in a wide range of applications, such as batteries, catalysts, and pigments. As industries such as automotive, electronics, and chemicals expand globally, the demand for oxalic acid as a key raw material in chemical manufacturing is anticipated to grow, further boosting the market.

The demand for oxalic acid in agriculture also plays a significant role in its market growth. Oxalic acid is utilized as a cleaning agent for agricultural equipment and tools, particularly in beekeeping. It is a vapor to control varroa mites, a common parasite affecting honeybee colonies. As the global demand for honey and other bee-related products rises, beekeepers increasingly turn to oxalic acid for mite control, increasing the market for this chemical. Additionally, oxalic acid is used as a rust remover and cleaning agent in various agricultural machinery and equipment, further expanding its application base.

Rising environmental concerns and the focus on eco-friendly chemicals are also contributing to the growth of the oxalic acid market. Oxalic acid is a naturally occurring compound considered relatively safe and non-toxic compared to many synthetic chemicals. As industries seek to adopt more sustainable practices and reduce their environmental impact, oxalic acid is increasingly viewed as a greener alternative to other more hazardous chemicals. This shift towards eco-friendly solutions drives demand across multiple sectors, including water treatment, where oxalic acid removes impurities from industrial wastewater.

With new production techniques improving efficiency and reducing costs, the availability of oxalic acid has increased significantly, making it more accessible to a wider range of industries. The development of more cost-effective production methods is expected to fuel the market's growth in the coming years as businesses look for ways to meet the rising demand for this versatile compound. In addition, expanding the oxalic acid market in emerging economies, where industrialization and infrastructure development are rapidly progressing, is likely to provide further momentum for its growth.

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Oxalic Acid Market Report Highlights

• The pharmaceuticals segment accounted for the largest revenue market share, 32.7%, in 2024 due to its use as a reagent in drug synthesis and the increasing demand for oxalic acid in producing pharmaceutical intermediates.

• Asia Pacific is the dominant region for the oxalic acid market with a revenue share of 72.2% in 2024 due to increasing demand for oxalic acid in agriculture and the growing healthcare sector in emerging economies.

• The growth of the oxalic acid market in North America is primarily driven by its increasing applications across various industries.

Oxalic Acid Market Segmentation

Grand View Research has segmented the global oxalic acid market report on the basis of application and region:

Oxalic Acid Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Bleaching/Cleaning

• Pharmaceuticals

• Water Treatment

• Textile Dyeing

• Metal Leaching

• Others

Oxalic Acid Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa
    

Key players in the oxalic acid 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.

• Penta s.r.o