The Global Oxygen Scavenger Market is Expected to Reach

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New York, Oct. 05, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Oxygen Scavenger Market – A Global and Regional Analysis: Focus on Type, Form, End User and Region – Analysis and Forecast, 2022-2031” – https://www.reportlinker.com/p06326166/?utm_source=GNW
Oxygen scavengers are expected to be more valuable as packaging becomes technologically advanced.

Oxygen scavengers are essential components for the growing food and beverage industry. The growth of the oxygen scavengers market is driven by the increasing use of oxygen scavengers in active and smart packaging and technological developments related to the use of oxygen scavengers.

Market life cycle stage

The market for oxygen scavengers is still growing for food and pharmaceutical applications due to the continuous development of these industries; however, for applications such as oil, gas and chemicals, the market is relatively mature. The market is expected to benefit from the growing attention paid to stringent government rules and regulations by the regulatory bodies in various regions and countries, as oxygen scavengers are widely used to extend the shelf life of food and pharmaceutical products, thereby improving the quality of packaged products.

Growing consumer awareness about food quality is expected to create a potential market demand for oxygen scavengers.

Industrial impact

• With an increased global focus on achieving zero waste, the transition to sustainable technologies offers significant sales and funding opportunities in active and smart packaging. This change has been widely observed in regions and countries such as North America, Europe, the Middle East and some Asian countries.
• Additionally, oxygen scavengers have a moderate to high impact on food and pharmaceutical applications; however, in the near future, with increased consumer awareness of food quality, the impact is expected to increase.

Impact of COVID-19

The COVID-19 pandemic has had a significant impact on oxygen scavenger production due to nationwide manufacturing site closures, labor shortages and supply chain disruptions and demand globally, which distorted the market. The supply of oxygen scavengers declined in industrial sectors such as chemicals and oil and gas, while it had a positive impact on the food and pharmaceutical packaging sector.

Sales of pharmaceutical products increased significantly during the pandemic period, which boosted sales of oxygen scavengers. During the recovery, with the increase in research and development activities and the increased need for sustainable packaging, the demand for oxygen scavengers is expected to be robust.

Market segmentation :
Segmentation 1: by end user
• Pharmaceutical products
• Food and drinks
• Chemical products
• Oil and Gas
• Others

Food and beverage is expected to be one of the major end-use markets for oxygen scavengers during the forecast period 2022-2031.

Segmentation 2: by form
• Canisters
• Bags
• Stickers
• Resin
• Liquid
• Others

Based on the shape, the market for oxygen scavengers is estimated to be dominated by sachets during the forecast period 2022-2031.

Segmentation 3: by type
• Organic oxygen purifiers
• Inorganic oxygen scavengers

Based on type, the oxygen scavenger market is estimated to be dominated by inorganic oxygen scavengers during the forecast period 2022-2031.

Segmentation 4: by Region
• North America: United States, Canada and Mexico
• Europe: Germany, France, Italy, Spain and Rest of Europe (RoE)
• China
• UK
• Asia-Pacific and Japan: Japan, India, South Korea and rest of Asia-Pacific
• Rest of the world – South America and Middle East and Africa

China is expected to dominate the oxygen scavengers market throughout the forecast period, owing to the presence of a large number of food, pharmaceutical and chemical manufacturers in the region.

Recent Developments in the Oxygen Scavenger Market

• In September 2017, the SUEZ group acquired GE Water & Process Technologies for approximately $3.4 billion. This operation is part of a group’s strategy to expand its offer to industrial customers, strengthen its international presence and boost digital and innovation platforms, particularly for oxygen scavengers.
• In 2019, Indorama Ventures completed the acquisition of a 100% stake in the PET business of INVISTA Resins and Fibers GmbH, Germany. The acquisition provides Indorama with competitive advantages, securing the intellectual property rights to POLYSHIELD PET and OXYCLEAR Barrier PET, Invista’s barrier technology, in all markets worldwide.
• In 2021, Solenis was acquired by Platinum Equity from Clayton, Dubilier & Rice (CD&R) and BASF in a deal worth $5.25 billion. As part of the acquisition, Solenis merged with Sigura Water, an existing Platinum Equity portfolio company, for a total combined transaction value of approximately $6.5 billion. The company generates combined revenue of approximately $3.5 billion.

Demand – Factors and Limitations

Following are the demand drivers for the oxygen scavengers market:
• Growing consumer awareness of food quality
• Growing demand for convenience foods and active food packaging
• Growing developments in the pharmaceutical industry

The market is expected to face some limitations owing to the following challenges:
• Hazards associated with chemicals in oxygen scrubbers to human health and potential threat to the efficiency of the steam generation process
• Disadvantages associated with oxygen scavenging sachets in food packaging

How can this report add value to an organization?

Product/Innovation Strategy: Product segment helps the reader understand the various forms and types involved in the oxygen scavengers market. inorganic oxygen scavengers.

Additionally, the study provides the reader with a detailed understanding of the Oxygen Scavenger market based on the end user (Food & Beverage, Pharmaceuticals, Oil & Gas, Chemicals, and Others). The government’s need for more environmentally friendly methods to prevent packaging waste issues is fueling the demand for oxygen scavengers.

Growth/Marketing Strategy: The oxygen scavengers market has witnessed major development by key players operating in the market such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The preferred strategy for companies has been business expansion and acquisitions. strengthen their position in the oxygen scavengers market.

For example, in July 2020, Avient acquired Clariant’s color masterbatch business. The masterbatch business includes approximately 46 manufacturing operations and technology centers in 29 countries and approximately 3,500 employees.

Competitive Strategy: Key Oxygen Scavengers Market players analyzed and profiled in the study involves Oxygen Scavengers manufacturers and overall ecosystem. Additionally, a detailed comparative analysis of players operating in the Oxygen Scavengers market has been carried out to help the reader understand how the players stack against each other, presenting a clear market landscape.

Moreover, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will help the reader understand the untapped revenue pockets in the market.

Key Market Players and Competition Summary

The companies profiled were selected based on input collected from primary experts, analyzing company coverage, product portfolio and market penetration.

Based on shape, the sachet segment is expected to dominate the oxygen scavengers market and capture around 42.4% of the market from 2021. Players using other shapes including resin accounted for around 22.5% , canisters accounted for 15.2%, liquid accounted for about 12.0%, stickers accounted for about 2.1%, and other forms of oxygen scavengers accounted for less than 5.9% of total demand in 2021.

Some of the most prominent established names in this market are:
Business Type 1 (per form): Canisters
•Mitsubishi Gas Chemical Company
• Multisorb Technologies

Business Type 2 (per form): Sachets
•Mitsubishi Gas Chemical Company
• Clariant AG
• Multisorb Technologies
• TPG CO., LTD.
• Desiccare, Inc.

Business Type 3 (per form): Stickers
•Mitsubishi Gas Chemical Company
• Multisorb Technologies

Business Type 4 (per form): Resin
• Clariant AG
• Avenir Corporation
• Indorama Ventures
• Sherwin-Williams Company

Business Type 5 (by form): Liquid and Others
• BASF SE
• Arkema
• SUEZ Group
• Accepta water treatment
• Schlumberger Limited
• Eastman Chemical Company

Companies that are not part of the previously mentioned pool have been well represented in the various sections of the report (where applicable).

Countries covered
• North America
• WE
• Canada
• Mexico
• Europe
• Germany
• France
• Italy
• Spain
• Rest of Europe (RoE)
• UK
• China
• Asia-Pacific and Japan
• Japan
• South Korea
• India
• Rest of Asia-Pacific
• Rest of the world
• Middle East and Africa
• South America
Read the full report: https://www.reportlinker.com/p06326166/?utm_source=GNW

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