The global demand for Oxygen Scavengers Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Oxygen scavengers are also known as oxygen absorbers. They are commonly used in packaging to remove or reduce the amount of oxygen present. Oxygen scavengers contribute to the product's quality by assuring its safety and increasing its lifespan. Food and beverage, medicines, power, oil and gas, chemicals, and other industries employ oxygen scavengers. The two most frequent types of oxygen scavengers that assist reduce the amount of oxygen in water are organic and inorganic. This helps reduce the accelerated corrosion that occurs when oxygen is present in a high-heat setting. Oxygen scavengers are graded according to their effectiveness, temperature ranges, cost, reaction time, and application. Manufacturers use oxygen scavengers instead of hydrazine. Oxygen scavenger chemicals are used in boilers or condensate to remove any leftover dissolved oxygen. Food preservation relies heavily on oxygen scavengers. Oxidation or a mixture of components such as iron powder, ascorbic acid, photosensitive polymers, enzymes, and others are used in oxygen scavenger technology. These compounds can reduce oxygen levels to less than 0.01 percent, which is lower than the levels commonly encountered in modified atmospheres.
Market Dynamics
Oxygen scavengers are in high demand in the food and beverage sector because they protect food from microbes, spoilage, color and nutritional loss, and rancidity. The oxygen scavengers market is likely to be fueled shortly by a significant industrial base, high disposable income, and a high standard of life among the population. Furthermore, government initiatives and policies to attract investments from major multinational firms are expected to encourage the expansion of various oxygen scavenger end-use sectors, thus propelling the market. The oxygen scavenger market is also being driven by rising awareness about decreasing food waste owing to unhygienic and inappropriate packing. Increased urbanization in emerging countries and growing demand for water from industrial activities in various industries such as electricity, oil and gas, chemical, and pulp and paper are pushing the market. Long-term CAPEX planning to enhance resilience, adequate workplace cleanliness, government fiscal assistance, better supply chain planning, proper communication, and resuming industrial activities are all projected to boost revenue and stabilize oxygen scavenger growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of oxygen scavengers. The growth and trends of oxygen scavengers industry provide a holistic approach to this study.
Market Segmentation
This section of the oxygen scavengers market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Metallic Oxygen Scavengers
- Non-Metallic Oxygen Scavengers
By End-Use Industry
- Food & Beverages
- Pharmaceutical
- Power
- Oil & Gas
- Chemical
- Pulp & Paper
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Oxygen Scavengers market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Oxygen Scavengers Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the oxygen scavengers market include DOW Chemical Company, Arkema, BASF S. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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