Oxalic Acid Market Expansion to be Persistent During 2016 – 2026 | Future Market Insights
Oxalic acid is a colorless, crystalline substance with sharp, sour taste. Oxalic acid is at high concentration can be a dangerous poison. It’s a part of carboxylic acid family.Oxalic acid is soluble in water, alcohol and ether. Oxalic acid is widely used as bleaching or cleaning agent. Oxalic acid is used as a mordant in dying process. Oxalic acid is used in pharmaceutical to purification or dilution purpose.Another important application of oxalic acid is to smelt rare earth. Oxalic acid is used as bleaching agent in textile and wood industry. Oxalic acid plays a vital role as rust-remover for metal treatment industry as well as water treatment. The estimated oxalic acid consumption was about 190 million metric tons at the end of 2009.
Oxalic Acid Market: Drivers and restraints
The exponential growth in pharmaceutical and rare earths industry, is the major contributor to the growth of Oxalic Acid Market. The use of Oxalic Acid in bleaching and cleaning purpose at various industrial/household application is a positive indicator in the expected growth of oxalic acid market. The growing concern towards sterilization in industry also drive the demand of oxalic acid market. On the other hand, due to its toxic and corrosive nature, industrial as well as household use and handling might create restrain in the demand of Oxalic acid.
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Oxalic Acid Market: Segmentation
On the basis of application, global Oxalic Acid Marketis segmented into:
- Rare earth Industry
- Other (Cleaning, Surface Dust Removal.)
On the basis of manufacturing process, the global Oxalic Acid Marketis segmented into:
- Nitric Acid Oxidation Process
- Sodium Formate Dehydrogenation Process
- Dialkyl Oxalate Hydrolysis Process
Oxalic Acid Market: Region Wise Outlook
Asia is estimated to be the largest consumer of oxalic acid in the world by volume .Especially China is a major consumer, producer as well as exporter of oxalic acid. The exponential growth in rare earth industry, pharmaceutical as well as textiles are the major factors behind the rise of oxalic acid consumption in Asian countries. Europe is estimated to be one of the fastest growing market for oxalic acid. USA due to its growth in application sector is also indicating positive prospect to the demand in oxalic acid consumption.
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Oxalic Acid Market: Key market Players
Some of the market producers of the global oxalic acid market are Shanxi Province Yuanping Chemicals Co., Ltd., Ube industries, ltd., Oxaquim S.A. ,Tongliao Jinmei Chemicals Co.,Ltd, Indian Oxalate Ltd. and others