Oxalic Acid Market Size and Growth Rate:
According to the Research Report by
Research Cosmos, The Global Oxalic Acid Market Size is poised to reach USD XX
Million by the end of 2022 from USD 532 Million in 2017 and this market
witnessed a growth rate of 3.8% during the forecast period 2018-2022.
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research report developed on Oxalic Acid Market @
Oxalic Acid Market Overview:
Oxalic acid is widely used as a bleaching or cleaning agent,
and as a mordant in the dying process. Oxalic acid is at a high focus as it can
be a dangerous poison. it is used in pharmaceutical for the purification or
dilution purpose and as a bleaching agent in the textile and wood industry.
Oxalic Acid Market Growth Drivers, Challenges, and
Opportunities:
The enormous size in rare earth and pharmaceutical industry
is the major driver to the swelling of the oxalic acid market. The global oxalic
acid market is projected to grow substantially in the forecast period.
Additionally, several companies are adopting attractive strategies such as
expansion, collaboration, and a joint venture to accelerate the growth of the
market.
The major factor is exponential growth in pharmaceutical and
rare earth industry and it is a contributor to the growth of Oxalic Acid
Market. A special performance of Oxalic Acid in bleaching and cleaning purpose
at different industrial/household applications is a positive indicator
projected to the increase of this market. The growing concern towards
sterilization in the industry also drives the demand for the market. Due to its
corrosive nature and toxic, industrial as well as household use and handling
might create restraint in the demand of Oxalic acid.
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Oxalic Acid Market Geographic Segmentation:
Based on the regional analysis, the global oxalic acid market
can be segmented into Europe, Asia Pacific, Middle East & Africa, North
America, and Latin America. The Asia Pacific region is estimated to be the
largest consumer of oxalic acid in the world by volume. Primarily, China is a
major consumer, producer as well as exporter of oxalic acid. The exponential
growth in the rare earth industry, pharmaceutical as well as textiles is the
primary factors behind the rise of oxalic acid consumption in Asian countries.
The exponential growth in the rare earth industry, pharmaceutical as well as
textiles is the major factors behind the rise of oxalic acid consumption in
Asian countries. Europe is estimated to be one of the highest growing markets
for oxalic acid. The USA due to the increasing demand in application sector is
also indicating positive prospect to the demand in oxalic acid consumption.
Key players of the Oxalic Acid Market:
Some of the major market players of the global oxalic acid
market are Ube industries, ltd., Shanxi Province Yuanping Chemicals Co., Ltd.,
Joaquim S.A., Indian Oxalate Ltd. TongliaoJinmei Chemicals Co., Ltd, and others.
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