Industrial oxalic acid has extensive demand and the industry has good development prospects

Oxalic acid, also known as oxalic acid, oxalic acid, and sorrel, is an organic compound with the chemical formula H₂C₂O₄, CAS number is 144-62-7, molecular weight is 90.0349, appearance is colorless monoclinic flake or prism crystal or white powder, refractive index is 1.540, melting point is 189.5℃, easily soluble in ethanol, soluble in water , slightly soluble in ether, insoluble in benzene and chloroform.

Industrial oxalic acid is a subdivided product of oxalic acid, mainly used in pharmaceuticals, rare earths, fine chemicals, lithium batteries, printing and dyeing and other industries. Among them, pharmaceuticals and rare earths are its main application fields, and the demand for industrial oxalic acid in these two fields accounts for more than 50%; lithium batteries are an emerging application field of industrial oxalic acid, and their applications in this field are still relatively small. In the future, with the development of my country’s new energy vehicles, energy storage and other industries, the lithium battery industry’s demand for industrial oxalic acid may continue to grow, thereby contributing to a larger increase in demand for industrial oxalic acid.

In terms of production, the chemical industry in Europe, North America and other regions is relatively developed. They were the first to conduct research and development and production of oxalic acid and industrial oxalic acid. Their production processes for oxalic acid and industrial oxalic acid are relatively mature, their product quality is good, and they have strong competitiveness in the international market. At the same time, with the promotion of developed countries and regions and the continuous development of global chemical technology, the chemical industry in developing countries and regions such as China and India continues to develop, and the industrial oxalic acid industry grows accordingly. With the development of the rare earth and lithium battery industries , China has become the largest production and consumption market for industrial oxalic acid products. However, due to environmental protection, cost and other factors, there are not many domestic industrial oxalic acid production enterprises at this stage, mainly distributed in the eastern coastal areas, such as Shandong Fengyuan Chemical Co., Ltd., Longxiang Industrial Co., Ltd., Shandong Hualu Hengsheng Group Co., Ltd., Shandong Asde Technology Co., Ltd., etc. Based on the good market prospects, companies such as Shandong Asde Technology Co., Ltd. and Shandong Hualu Hengsheng Chemical Co., Ltd. are actively increasing production capacity through new construction, renovation and expansion projects, and China’s industrial oxalic acid production capacity is showing a growth trend. According to the “China Oxalic Acid Industry Development Trend and Development Prospects Forecast Report 2023-2028” released by the Industrial Research Center, in 2022, China’s oxalic acid industry has a production capacity of 501,000 tons.

In terms of price, in recent years, China’s industrial oxalic acid prices have shown an overall growth trend. On the one hand, due to the impact of environmental protection, the industrial oxalic acid production capacity pattern has changed, and some companies have withdrawn from the market, resulting in restrictions on the supply side; on the other hand, in recent years, the downstream pharmaceutical, lithium battery, and rare earth industries of industrial oxalic acid have been highly prosperous, which has led to Industrial demand for oxalic acid is growing. In addition, the increase in the price of upstream raw materials is also a reason for the increase in industrial oxalic acid prices.

Industrial analysts said that at this stage, China’s industrial oxalic acid industry has relatively high product awareness, but the production process is still lacking. There are some shortcomings, and production companies need to further develop and innovate production technology; in the context of the continued development of new energy vehicles and energy storage industries, the demand for industrial oxalic acid will continue to grow, so in the future, my country’s industrial oxalic acid will also usher in a Good development prospects.