Oxalic Acid Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Oxalic Acid in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Oxalic Acid Price Trend for the Second Half of 2023


The volatility in the pricing patterns of oxalic acid derivatives and feedstock materials was evident in its pricing patterns. During the third quarter, the market momentum increased with the rise in demand from the downstream industries and limited supply from the overseas players.

Oxalic Acid Price Chart

Oxalic Acid Price Trends and Forecast

Please Login or Subscribe to Access the Oxalic Acid Price Chart Data

However, the consumers reduced their spending appetite in the next quarter due to the frail condition of the Asian economy and stagnancy in its industrial growth. The skepticism of investors further grew with the rising tensions on the export routes to the European countries, leading to consistent oscillations in the prices of oxalic acid.


The first half of the third quarter showcased significant growth in the prices of oxalic acid as strong demand and disruptions in the supply chains, along with the rise in the prices of energy production, favored the incline in the momentum of the oxalic acid prices. However, from then onwards, the market started experiencing several challenges from the manufacturing as well as consumer side. The influx of low-cost crude oil in the markets further reduced the cost of production and, in turn, the prices of oxalic acid.

North America

In North America, the pricing trajectory of oxalic acid followed a similar trend as was observed in the Asian and European countries. The prices were able to maintain stability in the first half of H2 of 2023 but nosedived in the latter when the market obstacles rose enormously.

The first challenge came in the form of a double-digit percentage depreciation in the cost of crude oil, and then the domestic fall in the number of inquiries, along with slowed economic recovery of the market, resulted in the southwards journey of oxalic acid prices.

Analyst Insight

According to Procurement Resource, the price trend of Oxalic Acid is expected to be based on the limited approach of the consumers and the decline in the cost of feedstock materials.

Oxalic Acid Price Trend for the First Half of 2023


The price trend of oxalic acid is highly dependent on the market dynamics of its feedstock materials. In the first quarter, the feedstock market was weak initially due to subdued demand from the end-user industries and ample availability of the product in the market. But soon after the Lunar holiday season, the market activities gained momentum as the demand for oxalic acid inclined, resulting in the positive growth of the oxalic acid price trend.

However, the market activities took a dip again in the second quarter, where the price trend of oxalic acid was challenged by the high rates of production and feeble demand from the downstream industries. The overall consumption rates of consumers also slid, and the rising inflation hampered the growth of the oxalic acid market.


In European countries, the feedstock market of oxalic acid showcased positive growth in the first quarter of 2023 as the downstream industries increased their number of orders and helped the prices of feedstock and, in turn, oxalic acid to grow positively.

During the end phase of the first quarter and throughout the second quarter, the price trend of oxalic acid slumped under the pressure of high inflation, weak consumption rates, and declining demand from the downstream industries. The purchasing appetite of consumers further declined ahead of the summer holiday season, and with the strong supply of feedstock materials in the region, the price trend of oxalic acid faced southwards in Europe.

North America

The price trend of the feedstock of oxalic acid in North America declined in the first quarter of 2023 as the demand from the downstream industries declined and with the sliding economic conditions of the region. However, the trajectory improved slightly in the mid and end phases of the first quarter.

The market activities during this period were supported by the positive market sentiments of the downstream industries and restricted supply. In addition to this, the shutting down of several production plants in the region resulted in a shortage of products that supported the growth in the price trend of oxalic acid. But the months of May and June did not follow this trajectory as with falling demand and a strong supply of feedstock materials, the price trend of oxalic acid took a dip.

Analyst Insight

According to Procurement Resource, the price trend of Oxalic Acid is estimated to showcase a falling trajectory as the prices will be affected by the subdued demand and high level of inventories.

Oxalic Acid Price Trend for the Second Half of 2022


The first half of 2022 saw a decline in the price of oxalic acid in the Asia-Pacific region due to the surge in COVID-19 cases and restrictions employed by many countries. The prices of glyoxylic acid that uses oxalic acid in production, however, surged in the third quarter as the demand for products where it is used as a raw material rose.

China was the major driver of this market as it exported the majority of the products formed using this acid as a raw material into the Asian markets. The prices then stabilized during the end of the fourth quarter due to a dip in demand and destabilized economic conditions of the Asian market.


During the first two quarters of 2022, the prices for Oxalic Acid saw an uprising trend due to the high demand from the paints, chemicals, and home care markets. The market, however, stabilized towards the end of the quarter as the feedstock prices in Europe surged. The third quarter was favourable to the rise in the prices of the commodity. The disruptions in the supply chains and steady demand from the end-user industries such as glyoxylic acid etc., aided the rise in the prices of the commodity.

North America

The North American market saw a mixed price trend in the prices of Oxalic Acid during the third and fourth quarters of 2022. The surge in demand is majorly attributed to trade restrictions and high demand from the end-user industries. The glyoxylic market that uses oxalic acid as a raw material saw an uprising trend in the prices in the third quarter.

The major reason for this is the persistent high demand for this acid from the textile and agriculture market accompanied by a restricted supply from the producers. The fourth quarter also saw the same trend in the prices. The market for glyoxylic acid also supported the rise in prices as the demand from the nitric acid industry surged. The prices, however, stabilized towards the end of the quarter.

Analyst Insight

The prices of Oxalic Acid are likely to increase during the coming month given the strong demand from the end-user industries and limited supply from the market.

Oxalic Acid Price Trend For the First Half of 2022


The increasing covid cases in China affected the production levels of the country. Many industries halted production due to the zero-tolerance covid restrictions placed by the government which affected the demand-supply dynamics of the market which was already reeling under the pressure of heightened feedstock prices.

Hence, the price trend of oxalic acid tipped towards the lower side of the scale owing to the baulking of buyers amid the fears of global recession, contractionary policy by central banks and runaway inflation. The price of industrial-grade oxalic acid (94%) averaged 4700 RMB/MT in Jiangsu, China. The price of 99.9% oxalic acid averaged 4900 RMB/MT in Shandong towards the end of said period.


The price of oxalic acid remained strong throughout the first quarter owing to the robust demand from the downstream paints, chemicals, and home care markets. However, the prices stabilized towards the second quarter as the feedstock sugar prices stabilized throughout Europe because of the valuable imports from India.


The price trend for oxalic acid in the US domestic market were in line with the global outlook. The price of oxalic acid recorded an oscillating trend during the year’s first half. Owing to the trade restrictions and booming demand the prices soared initially, however, due to the mismatch in the market dynamics the prices declined towards the end of the second quarter.

Procurement Resource provides latest prices of Oxalic acid. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

Sample Dashboard

Please Login or Subscribe to explore our dashboard.


Oxalic acid is an alpha, omega-dicarboxylic acid with carboxyl groups at positions 1 and 2 substituting for ethane. It performs functions as an algal, a plant, and a human metabolite. It is an oxalate(1-) and oxalate conjugate acid.

Product Details

Report Features Details
Product Name Oxalic Acid
HS CODE 291711
CAS Number 144-62-7
Industrial Uses Used to remove ink stains from laundry, Dilution of chemicals, Sterilizing agent
Chemical Formula C2H2O4
Synonyms Aktisal, Aquisal
Molecular Weight 90.03 g/mol
Supplier Database Mudanjiang Fengda Chemical Co., Ltd., Oxaquim, Merck KGaA, UBE Industries Ltd., Clariant International Limited
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Processes

  • Production of Oxalic Acid from Sugar

In this process, oxalic acid is produced by the reaction of nitric acid with glucose/ sugar. In the presence of a catalyst, oxidation reaction takes place in order to produce oxalic acid.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

Assistance from Experts

Procurement Resource is a one-stop solution for businesses aiming at the best industry insights and market evaluation in the arena of procurement. Our team of market leaders covers all the facets of procurement strategies with its holistic industry reports, extensive production cost and pre-feasibility insights, and price trends dynamics impacting the cost trajectories of the plethora of products encompassing various industries. With the best analysis of the market trends and comprehensive consulting in light of the best strategic footstep, Procurement Resource got all that it takes.

Client's Satisfaction

Procurement Resource has made a mark for itself in terms of its rigorous assistance to its clientele. Our experienced panel of experts leave no stone unturned in ensuring the expertise at every step of our clients' strategic procurement journey. Our prompt assistance, prudential analysis, and pragmatic tactics considering the best procurement move for industries are all that sets us apart. We at Procurement Resource value our clients, which our clients vouch for.

Assured Quality

Expertise, judiciousness, and expedience are the crucial aspects of our modus operandi at Procurement Resource. Quality is non-negotiable, and we don't compromise on that. Our best-in-class solutions, elaborative consulting substantiated by exhaustive evaluation, and fool-proof reports have led us to come this far, making us the ‘numero uno' in the domain of procurement. Be it exclusive qualitative research or assiduous quantitative research methodologies, our high quality of work is what our clients swear by.

Table Of Contents

Our Clients


Get in Touch With Us


Phone:+1 307 363 1045


Phone: +91 1203185500


Phone: +44 7537 132103

Email: sales@procurementresource.com


Get latest News About Procurement Resource
Subscribe for news

This site uses cookies (including third-party cookies) to record user’s preferences. See our Privacy PolicyFor more.