SAN FRANCISCO, Dec. 11, 2019 /PRNewswire/ — The global Oxalic Acid Market is expected to grow at a higher CAGR of 2.6% by 2023. Oxalic acid is a colourless yet crystalline dicarboxylic acid that turns into a colourless solution when dissolved in water. Oxalic acid is a reducing agent and contaminated with sulphuric acid & alkali, which cannot be eliminated by recrystallization method by using water, but it could be eliminated under recrystallization by using hydrochloric acid. Commercially, it is used in pharmaceutical industry for purification or dilution purpose. It is also used as a rust-remover in the metal treatment and water treatment industry.
A major application of oxalic acid is to cast rare earth metals. As a bleaching agent it finds significant use in the wood and textile industry. The factors responsible for the growth of oxalic acid market include extensive use of oxalic acid for industrial and household purpose. Rising concerns for industrial and household sterilization are likely to propel the market growth during the forecast period. However, the toxic nature of oxalic acid might refrain the market from developing in the near future.
Geographical segmentation for oxalic acid market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions hold a significant market share in the forecast period due to rise in exports and exponential rise in the exports of rare earth materials.
European regions are likely to witness remarkable market growth in the forecast period due to entry of new market entrants and effective mergers and acquisitions. Extensive developments in the application sector also lead to positive prospects for enhanced demands in the oxalic acid consumption. The key players in the oxalic acid market include Alta Laboratories, Alfa Aesar, Shanxi Province, J.M. Loveridge, Ube Industries Ltd, Yuanping Chemicals Co Ltd, Oxaquim S.A., Indian Oxalate Ltd, Novocap S.A. and Tongliao Jinmei Chemicals Co Ltd.
Global oxalic acid (CAS 144-62-7) market is anticipated to grow at a CAGR of 2.6% by 2023, according to a new report published. The report segments the market and forecasts its size, by volume and value, on the basis of application (fine chemicals, metal & metallurgy, pharmaceuticals, starch, textile & leather, electronics, etc.), and by geography (North America, Europe, Asia-Pacific, MEA and South America).
The report covers forecast and analysis for the oxalic acid market on a global and regional level. The study provides historic data of 2013-2017 along with a forecast from 2018 to 2023 based on both output/volume and revenue. The study then describes the drivers and restraints for the oxalic acid market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the oxalic acid market on a global level.
The report has been prepared based on the synthesis, analysis, and interpretation of information about the global oxalic acid market collected from specialized sources. The competitive landscape section of the report provides a clear insight into the market share analysis of key industry players. Company overview, financial overview, product portfolio, new project launched, recent development analysis are the parameters included in the profile.
Demand for this market rises from the fine chemicals, metal & metallurgy, pharmaceuticals, starch, textile & leather, electronics, and other applications. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2023. Relevantly, the report and company profiles specify the key drivers that are impacting the demand in global oxalic acid market.
Access 113 page research report with TOC on “Global Oxalic Acid Market” available with Radiant Insights, Inc. @: https://www.radiantinsights.com/research/global-oxalic-acid-market-outlook-2018-2023
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