The Oxalic Acid Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Oxalic Acid Global Market Report 2024, The oxalic acid market size has grown steadily in recent years. It will grow from $1.2 billion in 2023 to $1.26 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to chemical manufacturing advancements, industrial revolution impact, textile industry growth, metal cleaning and rust removal, wood bleaching and stain removal.
The oxalic acid market size is expected to see steady growth in the next few years. It will grow to $1.5 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to pharmaceutical and medical applications expansion, renewable feedstocks, green cleaning solution, food industry innovation, water treatment solutions. Major trends in the forecast period include carbon capture and sequestration, selective oxidation processes, antibacterial and antiviral properties, nanostructured oxalic acid applications, biodegradable formulations.
The rising concerns regarding the increase in surgical site infections will boost the oxalic acid market going forward. Surgical site infections (SSIs) refer to infections that occur at the site of a surgical incision or in the tissue layers affected by the surgical procedure. These infections can occur after any surgical procedure, ranging from minor outpatient to major surgeries. Oxalic acid has antimicrobial properties and potential antimicrobial activity against certain bacteria and fungi, which helps against surgical site infections. For instance, in January 2023, according to the Centers for Disease Control and Prevention, a US-based government agency, the SSI standardized infection ratio (SIR) associated with all operational procedure categories increased by around 3% in 2021 compared to the previous year. Therefore, rising concerns regarding the increase in surgical site infections will drive the oxalic acid market.
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The oxalic acid market covered in this report is segmented –
1) By Product Grade: Anhydrous, Dihydrate, Aqueous Solution
2) By Process: Oxidation Of Carbohydrates, CO Coupling Reaction, Oxidation Of Propylene, Sodium Formate Process
3) By Application: Bleaching And Purifying Agents, Reducing Agents, Stain And Rust Removers, Miticide, Precipitation Agents, Other Applications
4) By End Use: Petrochemicals, Water Treatment Chemicals, Metallurgy, Textiles And Leather, Pharmaceuticals, Electronics And Semiconductors, Wood Pulp, Bee-Hiving
Increasing investments are a popular trend in the oxalic acid market. Major companies operating in the oxalic acid market are focused on increasing investments to meet demand and sustain their position in the market. For instance, in May 2022, Oxaquim S.A, a Spain-based oxalic acid producer company, stated that it would boost its annual production capacity from 20,000 to 25000 metric tons by investing 44 million euros ($47.05 million) in the expansion of its Alcaniz factory and the development of a new facility in Andorra. This expansion will meet the future demand for oxalic acid.
The oxalic acid market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Major Players:
- Honeywell International Inc
- Merck KGaA
- Clariant AG
- UBE Corporation
- Sigma-Aldrich Co. LLC
- PCC Rokita SA
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