Dublin, Dec. 20, 2023 (GLOBE NEWSWIRE) -- The "Global Oxygen Scavenger Market" report has been added to ResearchAndMarkets.com's offering.
The global oxygen scavenger market is expected to grow at a compound annual growth rate (CAGR) of 5.1% from 2023 through 2028 to reach $3.1 billion. The Asia-Pacific market, sized at $707.4 million in 2022, and is expected to reach $1 billion by the end of 2028 with a CAGR of 7.2%. The growth in North America and Europe will be slower, with CAGRs of 5.6% and 3.7%, respectively, from 2023 through 2028, reaching $757.9 million and $1 billion, respectively.
The rate of growth is expected to pick up in the coming years. The Asia-Pacific region, especially China, South Korea, and India, should grow relatively faster throughout the next five years, but the impact on the total market growth rate is not expected to be significant enough to off-balance the slower growth rates in the West.
In terms of industrial GDP values, China and the U.S. are the largest globally. Japan and Germany are ranked third and fourth. The growth of these economies significantly helps the global oxygen scavenger market. The growing consumption of processed food and demand for sustainable food packaging in developing countries further drive the global oxygen scavenger market. Oil economies have a disproportionate dependence on industrial production for their GDPs. Countries such as Qatar, Iraq, the United Arab Emirates (UAE), Saudi Arabia, Oman, and Kuwait all have more than 50% of their country's GDP coming from the industrial sector. The revival of the oil economies helps the oxygen scavenger industry, although, on a global basis, the GDPs of these countries have only modest shares of the oxygen scavenger industry. Oil and gas companies generally use oxygen scavenger products in their boiler systems to protect the metal surfaces from corrosion and to reduce oxidation in the systems.
End users of the oxygen scavenger industry are diverse. Food and beverage, chemical, power, paper and pulp, and oil and gas businesses are the bulk users of oxygen scavengers in the global market. Oxygen-scavenging technology is accepted by the FDA, Hazard Analysis Critical Control Point, and Australian Standard 2070-1999. Recently, oxygen scavenger products have been used to protect historical objects and cultural properties from corrosion.
The metallic oxygen scavenger segment is well concentrated globally, with a limited number of large companies that have grown successfully in the mass manufacture of oxygen scavenger products with economies of scale. Iron, zinc, and sulfite are the key active ingredients used in metallic oxygen scavenger products. These scavengers are designed mainly for food and beverage, chemical, power, paper and pulp, and oil and gas industries. The non-metallic oxygen scavenger segment is more diverse in terms of regional diversity, and the companies are typically smaller in size than the manufacturers of metallic oxygen scavengers.
The report will include details about various types of compositions used in oxygen scavengers, end-use industries for oxygen scavengers, and forms of oxygen scavengers. Estimated values are based on manufacturers' total revenues. Projected revenue values are in constant U.S. dollars, unadjusted for inflation. The report contains comprehensive information regarding the oxygen scavenger industry and the users thereof.
The global oxygen scavenger market is segmented into the following categories
- Type (metallic oxygen scavenger and non-metallic oxygen scavenger).
- Composition (organic and inorganic).
- Form (powder, liquid and resin).
- End use (food and beverage, pharmaceutical, power, oil and gas, pulp and paper, and chemical).
- Region: North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW).
The Report Includes
- An overview of the global market landscape related to the oxygen scavengers
- In-depth analysis of global market trends, featuring historical revenue data for 2022, estimated figures for 2023, as well as forecasts for 2027. This analysis includes projections of Compound Annual Growth Rates (CAGRs) spanning through 2028
- Evaluation of the current market size and revenue growth prospects specific to oxygen scavengers, accompanied by a comprehensive market share analysis categorized by type, composition, form, end-use industry, and geographic region
- Information on oxygen scavengers designs and forms, including powder, liquid, and resins
- Coverage of various applications of oxygen scavenger such as food & beverage, pharmaceutical, power, oil & gas, pulp & paper, and chemical industry, and their innovative packaging technologies
- Information on latest developments, new industry research, upcoming technologies, industry structure, and regulatory scenarios, and economic trends
- Identification of challenges and discussion on how to overcome from those to reach its commercialization potential
- Discussion on importance of ESG in the oxygen scavenger industry, assessment of ESG ratings and metrics, ESG practices, and current status and future of ESG in the oxygen scavenger market
- Market share analysis of the key companies of the industry and coverage of their proprietary technologies, strategic alliances, and other key market strategies and a relevant patent analysis
- Detailed profiles of leading market participants, providing a descriptive overview of their respective businesses
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 138 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ($billion) in 2023 | $billion2.4 Billion |
| Forecasted Market Value ($billion) by 2028 | $billion3.1 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
- Market Definition
- Regulatory Bodies in Global Oxygen Scavenger Market
- Pricing Analysis
- Factors Affecting Selection of Oxygen Scavenger
- Importance of the Oxygen Scavenger
Chapter 4 Market Dynamics
Chapter 5 Emerging Technologies and Development
- Key Highlights
- Trends
- Development of Oxygen Scavenger Resins for PET Packaging
- New Product Innovation and Untapped Market
Chapter 6 Global Oxygen Scavenger Market by Type
- Metallic Oxygen Scavengers
- Iron
- Zinc
- Sulfite
- Non-metallic Oxygen Scavengers
- Hydrazine
- DEHA
Chapter 7 Global Oxygen Scavenger Market by Form
- Powder
- Liquid
- Resins
Chapter 8 Global Oxygen Scavenger Market by Composition
- Inorganic
- Organic
Chapter 9 Global Oxygen Scavenger Market by End-use Industry
- Food and Beverage
- Pharmaceutical
- Power
- Oil and Gas
- Pulp and Paper
- Chemical
Chapter 10 Global Oxygen Scavenger Market by Region
Chapter 11 Sustainability in Oxygen Scavenger Industry: An ESG Perspective
- Importance of ESG in the Oxygen Scavenger Industry
- ESG Ratings and Metrics: Understanding the Data
- ESG Practices in the Oxygen Scavenger Industry
- Current Status of ESG in the Oxygen Scavenger Market
- Risk Scale, Exposure Scale, and Management Scale
- Case Study: Example of Successful ESG Implementation
- Investments
- Future of ESG: Emerging Trends and Opportunities
- Advancement in Oxygen Scavenger Manufacturing
Chapter 12 Patent Analysis
- Significance of Patents
- Importance of Patent Analysis
- Patent Analysis Based on Country of Origin
- Patent Analysis Based on Year
- Patent Analysis Based on Type
- Patent Analysis Based on Company
Chapter 13 M&A and Funding Outlook
Chapter 14 Competitive Intelligence
Chapter 15 Company Profiles
- Angus Chemical Co.
- Arkema
- Avient Corp.
- BASF SE
- Clariant
- Eastman Chemical Co.
- Ecolab
- Henkel Ag & Co. Kgaa
- Mitsubishi Gas Chemical Co. Inc.
- Multisorb
- The Sherwin-Williams Co.
- Thermax Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/3etjwn
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