Oxygen Scavengers Market Size By Composition (Organic, Inorganic), By Form (Sachets/Canisters/Bottle Caps & Labels, OS Films & PET Bottles, Liquid, Powder), By End-user (Food & Beverage, Pharmaceutical, Oil & Gas, Power Generation), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Published Date: Sep 2019 | Report ID: GMI2289 | Authors: Kiran Pulidindi, Soumalya Chakraborty
Oxygen Scavengers Market size estimated at USD 2 billion in 2018 and will witness more than 4.5% CAGR from 2019 to 2025.
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Oxygen scavengers, also known as oxygen absorber, is primarily used to reduce or remove oxygen from various types of packages and feed water of boiler systems. It prevents deteriorative reactions caused by availability of oxygen, thereby improving operational capability of various products & processes. Oxygen scavengers specifically employed for packaging applications fall under the category of active packaging. This type of packaging is often used in food & beverage and pharmaceutical sectors, and it responds to changes occurring in the surrounding environment. The product helps to minimize negative effects of oxygen, while increasing the shelf life of packaged products. In boilers, it is used in conjunction with deaerators to remove residual oxygen content and inhibit corrosion. Additionally, they are used in oil & gas production, preservation of artworks & solderability of electronic parts, etc.
The oxygen scavengers market growth may be affected by negative consumer perceptions regarding oxygen scavengers in the form of sachets. Consumers in North America generally do not prefer sachets in food packaging as these sachets are prone to accidental rupture and getting mixed with food materials. This may potentially slowdown the sachet market growth in the next few years.
|Base Year:||2018||Market Size in 2018:||2 Billion (USD)|
|Historical Data for:||2014 to 2018||Forecast Period:||2019 to 2025|
|Forecast Period 2019 to 2025 CAGR:||4.5%||2025 Value Projection:||3 Billion (USD)|
|Pages:||180||Tables, Charts & Figures:||258|
|Geographies covered (21):||U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, Malaysia, Indonesia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait|
|Segments covered:||Composition, Form, End-user and Region|
|Companies covered (15):||Mitsubishi Gas Chemical Company, Inc., Clariant AG, Henkel AG & Co. KGaA, Sealed Air Corporation, Multisorb Technologies Inc., Toyo Seikan Co. Ltd., Desiccare, Inc., Angus Chemical Company, Solenis LLC, Arkema, Tetra Technologies, Inc., Baker Hughes, A GE Company, SUEZ Water Technologies & Solutions, Ecolab Inc., Veolia Water Technologies|
|Pitfalls & Challenges:||
Based on composition, the oxygen scavengers market is segmented into organic and inorganic products. Among these two segments, inorganic oxygen scavengers are used in a large scale as compared to the organic scavengers, and this segment captured more than USD 950 million in 2018. Under this segment, iron based scavengers are mostly preferred for packaging applications, whereas sodium sulfite & bisulfites and hydrazine hydrate are used for boiler feed water treatment processes.
Organic oxygen scavengers market will grow at a CAGR close to 5% by 2025. They have limited range of applications, but display positive outlook owing to continuous research and development activities. Salts made from ascorbic acid and catechol for packaging and carbohydrazide, diethyl hydroxylamine (DEHA), hydroquinone, erythrobate salts, etc. for water treatment in industrial boilers fall under this category.
Based on form, the oxygen scavengers market is classified into sachets/canisters/bottle caps & labels, OS films & PET bottles, liquid form and powder form. Sachets/canisters/bottle caps & labels segment registered a significant market share in terms of volume for the year 2018. They are widely used due to easy availability and low cost. The oxygen scavenging speed of sachets & labels is much faster than the oxygen scavenging material directly incorporated into packaging.
Liquid form of oxygen absorbers will grow at a CAGR more than 4% over the forecast period. They effectively remove leftover oxygen in boilers, while preventing corrosion of various parts. It decreases the possibility of system failure and improves the productivity of industrial boilers.
Based on end-user, the oxygen scavengers market is divided into food & beverage, pharmaceutical, oil & gas, power generation and others. The others segment includes chemical, pulp & paper, electronics, medical devices, artwork, etc. Oil & gas sector will grow at a CAGR more than 4% at the end of 2025. The product is used for scavenging oxygen from drilling fluid, seawater injection facilities, acid stimulation, hydro-testing, transportation of wet gas fluid, etc.
Power generation sector captured a considerable revenue share in 2018. Oxygen scavengers are used for corrosion control in thermal power plants. Rising need for power generation all over the world is likely to propel the market growth in upcoming years.
Asia Pacific oxygen scavengers market generated around USD 800 million in 2018 and will be the fastest growing region. This strong growth is attributable to favorable trends associated with food & beverage packaging industry within this region. Increasing consumption of packaged foods coupled with emphasis on minimizing food wastage are likely to support the market growth in future.
North America market will grow at a CAGR around 3.5% within the projected time period owing to rising demand from pharmaceutical packaging and oil & gas industries. According to European Federation of Pharmaceutical Industries and Associations (EFPIA), North America accounted for over 45% market share in global pharmaceutical market in 2017. Increasing applications related to preservation of drugs for stipulated time period will trigger the product demand in future.
Competitive Market Share
Some of the key players in oxygen scavengers market are Mitsubishi Gas Chemical Company, Inc., Clariant AG, Henkel AG & Co. KGaA, Sealed Air Corporation, Multisorb Technologies Inc., Desiccare, Inc., Angus Chemical Company, Solenis LLC, Arkema, Tetra Technologies, Inc. and SUEZ Water Technologies & Solutions. These companies are trying to increase their market shares with product differentiation & development, mergers & acquisitions, and expansion of sales & distribution networks.
Oxygen scavengers or oxygen absorbers industry is driven by increasing demand from food & beverage packaging and pharmaceutical packaging sectors. The special packaging used to absorb the excess oxygen helps keep the packed items fresh for longer periods of time. They are also very effective in corrosion control of feed water treatment of various industrial boilers. However, the market may experience minor hindrances due to low consumer preference towards oxygen scavengers available in sachet forms.
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