Oxalic Acid Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Oxalic Acid Manufacturers and it is Segmented by Product Grade (Anhydrous, Dihydrate, and Aqueous Solution), Application (Pharmaceutical, Textile, Rare Earth Metals, Chemical, Metal Processing, and other Applications, and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The market size and forecasts for Oxalic Acid Market are provided in terms of volume (Kilotons) and revenue (USD Million) for all the above segments.

Oxalic Acid Market Size

Single User License
Team License
Corporate License
Book before:
Oxalic Acid Market Summary
share button
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 4.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Oxalic Acid Market Major Players

*Disclaimer: Major Players sorted in no particular order


Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License


Team License


Corporate License

Book before:

Oxalic Acid Market Analysis

The global oxalic acid market is projected to register a CAGR of over 4% during the forecast period. COVID-19 negatively impacted the market in 2020. In the first half of 2020, the import and export of oxalic acid were closed due to government-imposed lockdown restrictions. The temporary suspension of transportation unfavorably impacted the consumption of oxalic acid. However, its use in the pharmaceutical sector to produce drugs like borneol and tetracycline, as well as disinfectants, created a great demand for oxalic acid during the pandemic.

  • The growing adoption of oxalic acid in the pharmaceutical industry to produce various medicines is forecasting market demand.
  • The use of oxalic acid in the metal processing industry for rust removal, smelting of rare earth metals, and as a paint remover is also a blooming opportunity for the market studied.
  • Growing health issues due to the toxicity of oxalic acid are hindering the market's growth.
  • The Asian-Pacific region is expected to dominate the oxalic acid market and is also likely to witness the highest CAGR during the forecast period.

Oxalic Acid Market Trends

This section covers the major market trends shaping the Oxalic Acid Market according to our research experts:

Rising Demand for Oxalic Acid from Pharmaceutical and Healthcare Segments

  • Pharmaceuticals and healthcare sectors are experiencing rapid growth globally, creating a burgeoning market for oxalic acid manufacturers.
  • The pharmaceutical industry uses oxalic acid to manufacture drugs such as borneol, tetracycline, and antibiotics. Oxalic acid is also used as an ingredient in tooth-whitening products.
  • One of oxalic acid's main advantages is its increasing antibiotic usage. In addition, oxalic acid is used to reduce the growth of naturally occurring microorganisms in pharmaceuticals and for deproteinization and dechelation.
  • According to the IFPMA, global biopharmaceutical companies invested about USD 182 billion in 2021, the highest ever, and is expected to grow by CAGR 4.2% in the next five years, so the growing adoption of research and development in pharmaceutical industries provides a blooming opportunity for the oxalic acid market.
  • Therefore, considering the factors mentioned above, the demand for the oxalic acid market is expected to rise significantly in the pharmaceutical application segment in the near future.
Oxalic Acid Market: Biopharmaceutical Research and Development Spending, USD Billion, by Application, Global, 2017-2022

Asia-Pacific to Dominate the Market

  • The Asia-Pacific region dominated the worldwide market in 2021, with a significant market share in terms of revenue, and is projected to maintain its dominance during the forecast period.
  • Growing demand for oxalic acid from the pharmaceutical sector across Asian countries, including India, China, and Japan, is the primary factor driving the growth of the target industry in the Asia-Pacific. The largest consumption of oxalic acid in Asia-Pacific occurs in China, making it one of the world's largest producers of oxalic acid.
  • According to the India Brand Equity Foundation, the healthcare sector in India will be worth USD 372 billion by 2022. Rising income levels, better health awareness, rising prevalence of lifestyle diseases, and enhanced insurance access are the primary drivers of this expansion.
  • Oxalic acid is also used for chemical manufacturing, such as esters, fine chemicals, industrial chemicals, phenol resin catalysts, and salts. The chemical manufacturing industry has experienced significant investment in Asia-Pacific, creating a significant demand for oxalic acid in the region.
  • Furthermore. the Chinese government is planning Xinjiang as the hotbed for textile and apparel manufacturing and has invested USD 8 billion. It is expected that China's northwest region is to become the country's largest textile production base by 2030. This is another reason for the blooming oxalic acid market within the region.
  • All aforementioned factors are likely to fuel the growth of the Asia-Pacific oxalic acid market over the forecast time frame.
Oxalic Acid Market - Growth Rate by Region, 2022-2027

Oxalic Acid Industry Overview

The oxalic acid market is moderately fragmented in nature. Some of the major players in the market include Oxaquim SA, UBE Corporation, Clariant AG, STAROXOCHEM Pvt. Ltd, and Honeywell International Inc., among others (in no particular order).

Oxalic Acid Market Leaders

  1. Oxaquim S.A.

  2. UBE Corporation

  3. Clariant AG


  5. Honeywell International Inc.

*Disclaimer: Major Players sorted in no particular order

Oxalic Acid Market Concentration
bookmark Need More Details on Market Players and Competitors?
Download PDF

Oxalic Acid Market News

  • In May 2022, Oxaquim announced that it will increase its production capacity from 20,000 metric tons to 25000 metric tons per year by investing EUR 44 million (USD 51.15 million) in the expansion of the Alcaiz factory and the construction of a new facility in Andorra. This expansion will fulfill the demand for oxalic acid in the future.
  • In December 2022, UBE Corporation announced the complete acquisition of API Corporation (Life Science Institute, Inc., a Mitsubishi Chemical Group Company). Through this transaction, both companies will optimize their manufacturing and research and development resources.

Oxalic Acid Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from the End-user Industries

      2. 4.1.2 Expansion of Pharmaceutical Industries

    2. 4.2 Restraints

      1. 4.2.1 Toxicity of Oxalic acid

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition


    1. 5.1 Product Grade

      1. 5.1.1 Anhydrous

      2. 5.1.2 Dihydrate

      3. 5.1.3 Aqueous Solution

    2. 5.2 Application

      1. 5.2.1 Pharmaceutical

      2. 5.2.2 Textile

      3. 5.2.3 Rare Earth Metals

      4. 5.2.4 Chemical

      5. 5.2.5 Metal Processing

      6. 5.2.6 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)**/Rank Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Clariant

      2. 6.4.2 Fujian Shaowu Fine Chemical Factory

      3. 6.4.3 Honeywell International Inc.

      4. 6.4.4 Merck KGaA

      5. 6.4.5 Mudanjiang Fengda Chemical Co. Ltd

      6. 6.4.6 Oxaqium

      7. 6.4.7 Punjab Chemicals and Crop Protection Limited (Punjab Chemicals)

      8. 6.4.8 STAROXOCHEM

      9. 6.4.9 UBE Corporation

      10. 6.4.10 Uranus Chemicals Co. Ltd

    5. *List Not Exhaustive

    7. 6.6 **Subject to Availability in the Public Domain, Paid Databases, and Primary Interviews

**Subject to Availability
bookmark You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Oxalic Acid Industry Segmentation

Oxalic acid is a crystalline solid organic compound that finds many applications in Pharmaceuticals, Chemicals, and various other applications. The oxalic acid market is segmented by product grade, application, and geography. The market is segmented by product grade: Anhydrous, Dihydrate, and Aqueous Solutions. By application, the market is segmented into pharmaceutical, textile, rare earth metals, chemical, metal processing, and other applications. The report also covers the market size and forecasts for the oxalic acid market in 15 major countries across various regions. For each segment, the market sizing and forecasts have been done based on volume (Kilotons) and revenue (USD Million).

Product Grade
Aqueous Solution
Rare Earth Metals
Metal Processing
Other Applications
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
customize-icon Need A Different Region Or Segment?
Customize Now

Oxalic Acid Market Research FAQs

The Oxalic Acid Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Oxaquim S.A. , UBE Corporation , Clariant AG , STAROXOCHEM Pvt Ltd. and Honeywell International Inc. are the major companies operating in the Oxalic Acid Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Oxalic Acid Market.

The report covers the Oxalic Acid Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Oxalic Acid Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Oxalic Acid Industry Report

Statistics for the 2024 Oxalic Acid market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Oxalic Acid analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!

Oxalic Acid Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)