In Asia, the oxalic acid price trend in Q1 was influenced by feedstock dynamics. After a slow start due to weak demand and ample supply, post-Lunar holiday demand surge propelled positive growth. However, Q2 faced challenges with high production rates, low downstream demand, decreased consumption, and rising inflation, hampering the market. In Europe, Q1 saw feedstock prices grow due to increased downstream orders, but Q2 experienced a slump from inflation, weak consumption, and declining demand. North America encountered Q1 feedstock declines, later improving due to positive downstream sentiments and production plant closures. Yet, May and June saw falling demand and ample feedstock, leading to a dip in oxalic acid prices.
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Definition
Oxalic acid is a dicarboxylic organic acid with the chemical formula C2H2O4. It exists as a colorless, crystalline solid. It’s naturally found in various plants and vegetables and can also be synthesized. Oxalic acid is known for its strong acidity and solubility in water. It forms salts called oxalates when combined with metal ions. While it has industrial applications as a cleaning agent and a reducing agent in some chemical processes, it can be toxic in higher concentrations and should be handled with care.
Key Details About the Oxalic Acid Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Oxalic Acid in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Oxalic Acid Price chart, including India Oxalic Acid price, USA Oxalic Acid price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Oxalic Acid Price Trend:
Oxalic acid serves diverse industrial purposes due to its unique properties. In metal cleaning and polishing, it acts as a strong chelating agent, effectively removing rust and stains from surfaces. It’s utilized in the textile industry for dyeing and printing processes, aiding in color fixation. In leather processing, it assists in removing hair from hides and tanning. Oxalic acid also finds application as a reducing agent in chemical and pharmaceutical manufacturing. In the wood industry, it’s used to remove stains and blemishes from wood surfaces. However, its toxicity necessitates careful handling, and its applications are governed by stringent safety guidelines.
Key Players:
- Mudanjiang Fengda Chemical Co Ltd
- Oxaquim
- Merck KGaA
- UBE Industries Ltd
- Clariant International Limited
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