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Oxygen Scavengers Market

Oxygen Scavengers Market Size, Forecast Analysis, By Material (Metallic, Non-metallic), By Type (Organic, Inorganic), By End-use Industry (Food & Beverages, Pharmaceuticals, Power, Oil & Gas, Chemicals, Pulp & Paper), & Region - Global Market Insights 2022 to 2032

Analysis of Oxygen Scavengers Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Oxygen Scavengers Market Outlook (2022-2032)

Presently, worldwide sales of oxygen scavengers market account for US$ 2.2 billion and are anticipated to transcend a revenue valuation of US$ 3.6 billion by the end of 2032. Over the next ten years, the market for oxygen scavengers is estimated to exhibit expansion at 5% CAGR.

High demand for quality packaged foods and fresh foods is anticipated to be a prime factor driving oxygen scavenger consumption over the coming years. Moreover, the implementation of strict food safety mandates and focus on the reduction of food waste across the world are also expected to favour oxygen scavenger demand in the future.

Increasing urbanization, growing population, changing lifestyle habits, and shifting consumer preferences toward convenience foods are other factors that could indirectly influence market potential in the future.

High prevalence of chronic diseases has led to increased consumption of pharmaceuticals and this is expected to propel the use of oxygen scavengers in pharmaceutical packaging going forward. Flourishing chemical manufacturing activity across the world is also anticipated to benefit the overall demand for oxygen scavengers in the chemical industry through 2032.

Oxygen absorbers are also widely used in water treatment processes to remove dissolved oxygen. Steadily increasing use of oxygen scavengers for boiler water treatment is expected to open up new doors of opportunities for manufacturers of oxygen scavengers over the coming years.

The use of oxygen scavengers in the oil & gas industry is also expected to rise as they are being extensively used as corrosion inhibitors to prolong the life of their equipment while keeping the maintenance costs minimal and this is projected to benefit market development over the years to come.

Metallic oxygen scavengers currently dominate the global market and are expected to maintain a similar stance over the next ten years as well. Their dominance can be ascribed to their better efficiency as compared to non-metallic oxygen absorbers.

Growing advancements in the packaging industry and rising investments in research & development of novel packaging techniques are expected to open up new avenues for aspiring oxygen scavenger companies in the future.

  • Researchers in Switzerland investigated the use of palladium-based oxygen scavengers to improve the shelf life of bakery products and found that the use of modified atmosphere packaging with oxygen scavengers could result in prolonged shelf life for bakery products. An extension of 3 to 4 days for bakery product shelf life was observed by the researchers.

On the flip side, prolonged exposure to carbohydrazide oxygen scavengers could potentially result in health risks such as irritation to the skin, dizziness, headaches, and elevated blood pressure, which could impede market growth in the long term. The non-volatile nature of O2 scavengers is expected to have a constraining effect on the use of oxygen scavengers in boilers as they dissolve and affect the conductivity of water.

Report Attributes

Details

Market Size (2022)

US$ 2.2 Billion

Projected Market Value (2032F)

US$ 3.6 Billion

Global Market Growth Rate (2022-2032)

5% CAGR

United States Market Share (2022)

25% <

Metallic Segment Market Value (2032)

US$ 1.8 Billion

Canada Market Growth Rate (2022-2032)

4% CAGR

Non-metallic Segment Market Growth Rate (2022-2032)

5% CAGR

Key Companies Profiled

  • BASF SE
  • Baker Hughes
  • Innospec Inc.
  • Arkema Group
  • Clariant
  • Solvay America Inc.
  • Kemira
  • Coventya
  • Lubchem
  • Mitsubishi Gas Chemical Company Inc.
  • Solenis
  • SUEZ
  • Accepta Ltd.
  • Sealed Air Corporation
  • Ricmar Industries

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Which is the Most Bankable Regional Market for Oxygen Scavenger Suppliers?

“Asia Pacific to Be Most Remunerative Regional Market through 2032”

Asia Pacific is witnessing rapid urbanization and this has led to some major changes in consumer preferences, which are expected to shape the future demand for oxygen scavengers in this region. Growing population, high consumption of packaged foods, focus on food waste minimization, rising investments in the development of manufacturing facilities, and flourishing chemical and oil & gas industries are other factors that could promulgate shipments of oxygen scavengers in APAC going forward.

India, China, Japan, Korea, Malaysia, and Singapore are anticipated to be prime markets in this region over the coming years for oxygen scavenger suppliers. Demand for oxygen scavengers in China is predicted to rise at a 6.7% CAGR through 2032 and is estimated to account for a valuation of US$ 450 million by the end of the forecast period.

Find more valuable regional insights regarding the market from this brand-new oxygen scavengers market research report by skilled analysts at Fact.MR, a market research and competitive intelligence provider.

Oxygen scavengers market forecast by Fact.MR

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Country-wise Insights

Why is the U.S. an Opportune Oxygen Scavengers Market?

“High Demand for Packaged Food to Offer Lucrative Business Scope”

There is high demand for packaged and convenience foods in the United States and this is anticipated to be a key factor that spurs oxygen scavenger demand in the country. Implementation of various food safety regulations and new standards of food packaging suggested by the EPA (Environmental Protection Agency) is also expected to favor market potential in the country over the coming years. At present, sales of oxygen scavengers in the U.S. account for more than 25% of the global market revenue share.

Why Could Japan & Korea Be Potentially Lucrative Markets?

“Robust Chemical Industry to Provide Rewarding Returns”

Japan and Korea are home to some of the most prominent chemical manufacturing companies in the world and house state-of-the-art chemical manufacturing facilities. The extensive use of oxygen scavengers in many chemical processes and boiler water treatment is expected to drive sales of oxygen scavengers in Japan and Korea over the coming years. Changing consumer preferences and rising consumption of convenience foods are also expected to promulgate oxygen scavenger demand in these countries. The market for oxygen scavengers in Japan is forecasted to evolve at a 3% CAGR over the next ten years.

How will Oxygen Scavenger Demand Shape Up in Europe?

“Consumption of Oxygen Scavengers to Rise at Moderate Rate”

Most of the demand for oxygen scavengers in the European region is expected to originate from the food packaging industry and is expected to continue to do so across the forecast period till 2032. The presence of key food manufacturers, rising focus on sustainability, and growing demand for active packaging are other prospects that are anticipated to supplement market development over the coming years in Europe. Germany, the United Kingdom, France, and Italy are estimated to be the leading markets in this region.

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Category-wise Insights

Where are Oxygen Scavengers Expected to Be Extensively Used?

“Food & Beverage Industry Accounts for Highest Consumption of Oxygen Scavengers”

Based on end-use industry, the market for oxygen scavengers is segmented into food & beverages, pharmaceuticals, power, oil & gas, chemicals, pulp & paper, and other industries.

The use of oxygen scavengers in the packaging of food products helps in the extension of the shelf life of food products, prevents loss of nutritional value, and prevents rancidity. The use of oxygen scavengers in food packaging has been extensive and is expected to account for a dominant market share over the coming years as well. Rising demand for packaged foods, growing consumption of convenience foods, increasing focus on food waste reduction, and advancements in food packaging are prime factors that drive demand for oxygen scavengers in the food & beverages industry vertical.

Oxygen scavenger packets for food products have been gaining popularity in recent years and are expected to witness a steady hike in sales across the forecast period. Expansion of the chemical industry

Competitive Landscape

Prime oxygen scavengers market players are focusing on launching new products with advanced capabilities that are enabling them to expand their sales potential across several industrial verticals.

  • In April 2020, a leading specialized polymer and materials manufacturer, Avient announced the launch of a new non-nylon-based, low-haze oxygen scavenger for PET rigid packaging. ColorMatrix Amosorb 4020G reduces the impact on recycled PET by reducing yellowing by 50% for the mechanical recycling process.

Oxygen scavenger providers are also expected to eye acquisitions and mergers that will help them increase their market presence and improve revenue generation.

  • In August 2022, Solenis, a specialty chemicals manufacturer announced that it had entered into an agreement to acquire Clearon, a manufacturer of sanitizers and disinfectants. Through this acquisition, Solenis has strengthened its position in the water treatment industry.

Key Segments of Oxygen Scavengers Industry Research

  • By Type:

    • Organic 
    • Inorganic 
  • By Material:

    • Metallic
    • Non-metallic 
  • By End-use Industry:

    • Food & Beverages
    • Pharmaceuticals
    • Power
    • Oil & Gas
    • Chemicals
    • Pulp & Paper
    • Other Industries
  • By Region:

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

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In 2022, sales of oxygen scavengers account for a value of US$ 2.2 billion.

By 2032, demand for oxygen scavengers is forecasted to reach a valuation of US$ 3.6 billion.

Shipments of oxygen scavengers are predicted to progress at 5% CAGR over the next ten years.

Rising demand for packaged foods and focus on the reduction of food waste are expected to boost market growth potential.

The use of oxygen scavengers is expected to be highest in the food & beverages industry vertical.

Arkema Group, Clariant, Solvay America Inc., Kemira, Coventya, and Lubchem are key manufacturers of oxygen scavengers.

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