Diethyl oxalate is an organic compound with colorless characteristics. It is the dimethyl ester of oxalic acid. Diethyl oxalate usage is seen in active pharmaceutical ingredients, polymers, and intermediates for dyestuffs. It is also used as a solvent to make esters, resins, fragrances, and electronic lacquers.
The global market for diethyl oxalate witnessed a growth rate of 2.7% from 2017 to 2021.
Tremendous growth has been seen in the pharmaceutical industry attributed to the high consumption of diethyl oxalate. Demand for drugs such as steroids and barbiturates has led to increased diethyl oxalate usage. Robust research & development has increased advanced treatments and require special medication, which can positively affect market growth.
In addition, the cosmetics & personal care industry is being propelled forward by rising standards of living, the direct influence of beauty and personal care on self and social aspects, and stable consumer motion toward high-end luxury cosmetic products. In the perfume industry, diethyl oxalate is used as a solvent, which is expected to drive its sales going forward.
The global market for diethyl oxalate is slated to expand at a 4.9% CAGR over the next ten years.
The global market is expected to be dominated by East Asia, followed by South Asia & Pacific and North America, owing to the growth of end-use industries. Among the diethyl oxalate applications, dyestuffs is the leading segment, followed by solvents and intermediates, where diethyl oxalate is widely consumed.