Product
Oxalic Acid Price Trend and Forecast
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 H2 of 2022
Asia
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.
Europe
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
Asia
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 trends 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.
Europe
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.
USA
The price trends 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.
About
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.
Methodology
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).
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