Oxygen Scavengers Market - A Global and Regional Analysis

Focus on Type, Form, End User, and Region - Analysis and Forecast, 2022-2031

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Market Report Coverage

Oxygen Scavengers Market
Forecast Period: 2022-2031
CAGR During Forecast Period: 6.4%

Oxygen Scavengers Market

Base Year

2021

Market Size in 2021

$2,324.4 Million

Forecast Period

2022-2031

Value Projection and Estimation by 2031

$4,318.4 Million

CAGR During Forecast Period

6.4%

Number of Tables

77

Number of Pages

188

Number of Figures

18

 

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.

Based on form, the sachets segment is expected to lead the oxygen scavengers market and capture around 42.4% of the market as of 2021. Players utilizing other forms, including resin, accounted for around 22.5%, canisters accounted for 15.2%, liquid accounted for around 12.0%, stickers accounted for approximately 2.1%, and other forms of oxygen scavengers accounted for less than 5.9% of the total demand in 2021.

Oxygen Scavengers Market

Some of the prominent established names in this market are:

Company Type 1 (by Form): Canisters
•    Mitsubishi Gas Chemical Company
•    Multisorb Technologies

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

Company Type 3 (by Form): Stickers
•    Mitsubishi Gas Chemical Company
•    Multisorb Technologies

Company Type 4 (by Form): Resin
•    Clariant AG
•    Avient Corporation
•    Indorama Ventures
•    Sherwin-Williams Company

Company Type 5 (by Form): Liquid and Others
•    BASF SE
•    Arkema
•    SUEZ Group
•    Accepta Water Treatment
•    Schlumberger Limited
•    Eastman Chemical Company

Companies that are not a part of the previously mentioned pool have been well represented across different sections of the report (wherever applicable).

How can this report add value to an organization?

The government’s need for more environment-friendly methods to prevent packaging wastage problems is fuelling the demand for oxy

Product/Innovation Strategy: The product segment helps the reader understand the different forms and types involved in the oxygen scavenger market. The form segment includes sachets, canisters, stickers, resin, liquid, and others, while the type segment includes organic oxygen scavengers and inorganic oxygen scavengers. Moreover, the study provides the reader with a detailed understanding of the oxygen scavengers market based on end user (food and beverages, pharmaceuticals, oil and gas, chemicals, and others). The government’s need for more environment-friendly methods to prevent packaging wastage problems is fuelling the demand for oxygen scavengers.

Growth/Marketing Strategy: The oxygen scavengers market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been business expansions and acquisitions to strengthen their position in the oxygen scavengers market. For instance, in July 2020, Avient acquired the color masterbatch businesses of Clariant. The masterbatch business includes around 46 manufacturing operations and technology centers in 29 countries and approximately 3,500 employees.

Competitive Strategy: Key players in the oxygen scavengers market analyzed and profiled in the study involve oxygen scavenger manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the oxygen scavengers market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Industry and Technology Overview

The global oxygen scavengers market is projected to reach $4,318.4 million by 2031 from $2,324.4 million in 2021.

Oxygen Scavengers Market: Industry Overview

The global oxygen scavengers market is projected to reach $4,318.4 million by 2031 from $2,324.4 million in 2021, growing at a CAGR of 6.4% during the forecast period 2022-2031.

The function of oxygen scavengers is to limit the amount of oxygen available for deteriorative reactions, which may lead to reduced functionality of many types of products, including food and beverages, pharmaceuticals, chemicals, and others. Oxygen scavengers are expected to be more valuable as packaging becomes technologically advanced. Oxygen scavengers are critical elements for the rapidly expanding food and beverage sector. Growth in the oxygen scavengers market is being driven by the increasing usage of oxygen scavengers in active and intelligent packaging and technological developments related to the use of oxygen scavengers.

Market Lifecycle Stage

The oxygen scavengers market is still in the growing phase for food and beverages and pharmaceutical applications owing to ongoing development in these industries; however, for applications such as oil and gas and chemicals, the market is comparatively in its mature stage. The market is expected to benefit from the growing focus on stringent government rules and regulations by regulatory organizations in various regions and countries, as oxygen scavengers are widely utilized for extending the shelf life of food and pharma products, thereby improving the quality of packaged products. Increasing awareness amongst the consumers related to the food quality is expected to create potential market demand for oxygen scavengers.

Figure: Global Oxygen Scavengers Market, $Million, 2021, 2022, and 2031

Oxygen Scavengers Market

Industrial Impact

•  With an increased worldwide focus on achieving zero wastage, the shift toward sustainable technologies brings significant sales and financing opportunities in active and intelligent packaging. This shift was prominently experienced in regions and countries such as North America, Europe, the Middle East, and some Asian countries.
•  Furthermore, oxygen scavengers have a moderate to high impact on food and pharma applications; however, in the upcoming future, with increased awareness amongst the consumers related to food quality, the impact is anticipated to increase.

Impact of COVID-19

The COVID-19 pandemic considerably impacted the production of oxygen scavengers as a result of country-wide shutdowns of manufacturing sites, labor shortages, and disruptions in supply and demand chains 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 pharma packaging sector. Pharmaceutical sales grew drastically during the pandemic period, which boosted the sales of oxygen scavengers. During recovery, with increased research and development activities and the increased need for sustainable packaging, the demand for oxygen scavengers is anticipated to be robust.

Market Segmentation:

Segmentation 1: by End User
•    Pharmaceuticals
•    Food and Beverages
•    Chemicals
•    Oil and Gas
•    Others

Food and beverages are anticipated to be one of the prominent end-use markets for oxygen scavengers during the forecast period 2022-2031.

Segmentation 2: by Form
•    Canisters
•    Sachets
•    Stickers
•    Resin
•    Liquid
•    Others

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

Segmentation 3: by Type
•    Organic Oxygen Scavengers 
•    Inorganic Oxygen Scavengers

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

Segmentation 4: by Region
•    North America - U.S., Canada, and Mexico
•    Europe - Germany, France, Italy, Spain, and Rest-of-Europe (RoE)
•    China
•    U.K.
•    Asia-Pacific and Japan - Japan, India, South Korea, and Rest-of-Asia-Pacific 
•    Rest-of-the-World - South America and the Middle East and Africa

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

Recent Developments in Oxygen Scavengers Market

•  In September 2017, SUEZ Group acquired GE Water & Process Technologies for around $3.4 billion. This transaction is a group’s strategy for expanding its offering for industrial clients, reinforcing its international footprint, and boosting digital and innovation platforms, especially 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, obtaining the intellectual property rights of POLYSHIELD PET and OXYCLEAR Barrier PET, Invista’s barrier technology, in all markets globally.
•  In 2021, Solenis was acquired by Platinum Equity from Clayton, Dubilier & Rice (CD&R) and BASF in a transaction 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 a combined revenue of approximately $3.5 billion.

Demand - Drivers and Limitations

Following are the demand drivers for the oxygen scavengers market:

•    Rising Awareness amongst the Consumers related to Food Quality    
•    Rising demand for Convenience Foods and Active Food Packaging
•    Increasing developments in Pharmaceutical Industry

The market is expected to face some limitations due to the following challenges:

•    Hazards Associated with Chemicals in Oxygen Scavengers to Human Health and Potential Threat to Efficiency of Steam Generation Process
•    Inconvenience Associated with Oxygen Scavenger Sachets in Food Packaging

Analyst Thoughts

According to Sachin Singh, Lead Analyst, BIS Research, "Oxygen scavengers are widely used in the food and pharma industry for packaging owing to increasing awareness related to sustainable packaging solutions. Moreover, oxygen scavengers are used as corrosion inhibitors for feed and boiler water treatment in oil and gas and chemical industries. With the increased replacement of traditional packaging methods with oxygen scavengers-based active packaging, wastages are expected to decline substantially, thereby bolstering the growth of the oxygen scavengers market.”

Table of Contents

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1.1    Industry Outlook
         1.1.1    Trends: Current and Future
                     1.1.1.1    Rising Demand for Oxygen Scavenger Sachets in Food and Pharmaceutical Drugs Packaging
                     1.1.1.2    Integration of Polymer-based Oxygen Scavengers in New Packaging Products
         1.1.2    Supply Chain Analysis
         1.1.3    Ecosystem of Oxygen Scavengers Market
                     1.1.3.1    Consortiums and Associations
                     1.1.3.2    Regulatory/Certification Bodies
                     1.1.3.3    Government Programs
                     1.1.3.4    Programs by Research Institutions and Universities
         1.1.4    Impact of COVID-19 on the Oxygen Scavengers Market
1.2    Business Dynamics
         1.2.1    Business Drivers
                     1.2.1.1    Rising Awareness amongst the Consumers related to Food Quality
                     1.2.1.2    Rising demand for Convenience Foods and Active Food Packaging
                     1.2.1.3    Increasing developments in Pharmaceutical Industry
         1.2.2    Business Challenges
                     1.2.2.1    Hazards Associated with Chemicals in Oxygen Scavengers to Human Health and Potential Threat to Efficiency of Steam Generation Process
                     1.2.2.2    Inconvenience Associated with Oxygen Scavenger Sachets in Food Packaging
         1.2.3    Business Strategies
                     1.2.3.1    Product Developments
                     1.2.3.2    Market Developments
         1.2.4    Corporate Strategies
                     1.2.4.1    Mergers and Acquisitions
                     1.2.4.2    Partnerships and Joint Ventures
         1.2.5    Business Opportunities
                     1.2.5.1    Growing Dairy Sector across the Globe
                     1.2.5.2    Technology Innovations and Rising Research on Oxygen Scavenger Usage in Several Sectors
1.3    Start-Up Landscape
         1.3.1    Key Start-Ups in the Ecosystem

2.1    Global Oxygen Scavengers Market (Applications and Specifications)
         2.1.1    Global Oxygen Scavengers Market (by End User)
                     2.1.1.1    Pharmaceuticals
                     2.1.1.2    Food and Beverages
                     2.1.1.3    Chemicals
                     2.1.1.4    Oil and Gas
                     2.1.1.5    Others
2.2    Demand Analysis of Oxygen Scavengers Market (by End-User), Value Data

3.1    Global Oxygen Scavengers Market (Products and Specifications)
         3.1.1    Global Oxygen Scavengers (by Form)
                     3.1.1.1    Canisters
                     3.1.1.2    Sachets
                     3.1.1.3    Stickers
                     3.1.1.4    Resin
                     3.1.1.5    Liquid
                     3.1.1.6    Others
3.2    Demand Analysis of Oxygen Scavengers Market (by Form), Value Data
         3.2.1    Global Oxygen Scavengers Market (by Type)
                     3.2.1.1    Organic Oxygen Scavengers
                     3.2.1.2    Inorganic Oxygen Scavengers
3.3    Demand Analysis of Oxygen Scavengers Market (by Type), Value Data
3.4    Product Benchmarking: Growth Rate – Market Share Matrix, by Form, 2021
3.5    Patent Analysis
         3.5.1    Patent Analysis (by Status)
         3.5.2    Patent Analysis (by Organization)

4.1    North America
         4.1.1    Markets
                     4.1.1.1    Key Producers and Suppliers in North America
                     4.1.1.2    Business Drivers
                     4.1.1.3    Business Challenges
         4.1.2    Applications
                     4.1.2.1    North America Oxygen Scavengers Market ( by End-User), Value Data
         4.1.3    Products
                     4.1.3.1    North America Oxygen Scavengers Market ( by Form), Value Data
                     4.1.3.2    North America Oxygen Scavengers Market ( by Type), Value Data
         4.1.4    North America (by Country)
                     4.1.4.1    U.S.
                                    4.1.4.1.1    Markets
                                                      4.1.4.1.1.1    Buyer Attributes
                                                      4.1.4.1.1.2    Key Producers and Suppliers in the U.S.
                                                      4.1.4.1.1.3    Regulatory Landscape
                                                      4.1.4.1.1.4    Business Drivers
                                                      4.1.4.1.1.5    Business Challenges
                                    4.1.4.1.2    Applications
                                                      4.1.4.1.2.1    U.S. Oxygen Scavengers Market (by End-User), Value Data
                                    4.1.4.1.3    Products
                                                      4.1.4.1.3.1    U.S. Oxygen Scavengers Market (by Form), Value Data
                                                      4.1.4.1.3.2    U.S. Oxygen Scavengers Market (by Type), Value Data
                     4.1.4.2    Canada
                                    4.1.4.2.1    Markets
                                                      4.1.4.2.1.1    Buyer Attributes
                                                      4.1.4.2.1.2    Key Producers and Suppliers in Canada
                                                      4.1.4.2.1.3    Regulatory Landscape
                                                      4.1.4.2.1.4    Business Drivers
                                                      4.1.4.2.1.5    Business Challenges
                                    4.1.4.2.2    Applications
                                                      4.1.4.2.2.1    Canada Oxygen Scavengers Market (by End-User), Value Data
                                    4.1.4.2.3    Products
                                                      4.1.4.2.3.1    Canada Oxygen Scavengers Market (by Form), Value Data
                                                      4.1.4.2.3.2    Canada Oxygen Scavengers Market (by Type), Value Data
                     4.1.4.3    Mexico
                                    4.1.4.3.1    Markets
                                                      4.1.4.3.1.1    Buyer Attributes
                                                      4.1.4.3.1.2    Key Producers and Suppliers in Mexico
                                                      4.1.4.3.1.3    Business Drivers
                                                      4.1.4.3.1.4    Business Challenges
                                    4.1.4.3.2    Applications
                                                      4.1.4.3.2.1    Mexico Oxygen Scavengers Market (by End-User), Value Data
                                    4.1.4.3.3    Products
                                                      4.1.4.3.3.1    Mexico Oxygen Scavengers Market (by Form), Value Data
                                                      4.1.4.3.3.2    Mexico Oxygen Scavengers Market (by Type), Value Data
4.2    Europe
         4.2.1    Market
                     4.2.1.1    Key Producers and Suppliers in Europe
                     4.2.1.2    Business Drivers
                     4.2.1.3    Business Challenges
         4.2.2    Applications
                     4.2.2.1    Europe Oxygen Scavengers Market ( by End-User), Value Data
         4.2.3    Products
                     4.2.3.1    Europe Oxygen Scavengers Market ( by Form), Value Data
                     4.2.3.2    Europe Oxygen Scavengers Market ( by Type), Value Data
         4.2.4    Europe (by Country)
                     4.2.4.1    Germany
                                    4.2.4.1.1    Market
                                                      4.2.4.1.1.1    Buyer Attributes
                                                      4.2.4.1.1.2    Key Producers and Suppliers in Germany
                                                      4.2.4.1.1.3    Regulatory Landscape
                                                      4.2.4.1.1.4    Business Drivers
                                                      4.2.4.1.1.5    Business Challenges
                                    4.2.4.1.2    Applications
                                                      4.2.4.1.2.1    Germany Oxygen Scavengers Market (by End-User), Value Data
                                    4.2.4.1.3    Products
                                                      4.2.4.1.3.1    Germany Oxygen Scavengers Market (by Form), Value Data
                                                      4.2.4.1.3.2    Germany Oxygen Scavengers Market (by Type), Value Data
                     4.2.4.2    France
                                    4.2.4.2.1    Market
                                                      4.2.4.2.1.1    Buyer Attributes
                                                      4.2.4.2.1.2    Key Producers and Suppliers in France
                                                      4.2.4.2.1.3    Business Drivers
                                                      4.2.4.2.1.4    Business Challenges
                                    4.2.4.2.2    Applications
                                                      4.2.4.2.2.1    France Oxygen Scavengers Market (by End-User), Value Data
                                    4.2.4.2.3    Products
                                                      4.2.4.2.3.1    France Oxygen Scavengers Market (by Form), Value Data
                                                      4.2.4.2.3.2    France Oxygen Scavengers Market (by Type), Value Data
                     4.2.4.3    Italy
                                    4.2.4.3.1    Market
                                                      4.2.4.3.1.1    Buyer Attributes
                                                      4.2.4.3.1.2    Key Producers and Suppliers in Italy
                                                      4.2.4.3.1.3    Regulatory Landscape
                                                      4.2.4.3.1.4    Business Drivers
                                                      4.2.4.3.1.5    Business Challenges
                                    4.2.4.3.2    Applications
                                                      4.2.4.3.2.1    Italy Oxygen Scavengers Market (by End-User), Value Data
                                    4.2.4.3.3    Products
                                                      4.2.4.3.3.1    Italy Oxygen Scavengers Market (by Form), Value Data
                                                      4.2.4.3.3.2    Italy Oxygen Scavengers Market (by Type), Value Data
                     4.2.4.4    Spain
                                    4.2.4.4.1    Markets
                                                      4.2.4.4.1.1    Buyer Attributes
                                                      4.2.4.4.1.2    Key Producers and Suppliers in Spain
                                                      4.2.4.4.1.3    Regulatory Landscape
                                                      4.2.4.4.1.4    Business Drivers
                                                      4.2.4.4.1.5    Business Challenges
                                    4.2.4.4.2    Applications
                                                      4.2.4.4.2.1    Spain Oxygen Scavengers Market (by End-User), Value Data
                                    4.2.4.4.3    Products
                                                      4.2.4.4.3.1    Spain Oxygen Scavengers Market (by Form), Value Data
                                                      4.2.4.4.3.2    Spain Oxygen Scavengers Market (by Type), Value Data
                     4.2.4.5    Rest-of-Europe (RoE)
                                    4.2.4.5.1    Market
                                                      4.2.4.5.1.1    Buyer Attributes
                                                      4.2.4.5.1.2    Key Producers and Suppliers in Rest-of-Europe
                                                      4.2.4.5.1.3    Business Drivers
                                                      4.2.4.5.1.4    Business Challenges
                                    4.2.4.5.2    Applications
                                                      4.2.4.5.2.1    Rest-of-Europe Oxygen Scavengers Market (by End-User), Value Data
                                    4.2.4.5.3    Products
                                                      4.2.4.5.3.1    Rest-of-Europe Oxygen Scavengers Market (by Form), Value Data
                                                      4.2.4.5.3.2    Rest-of-Europe Oxygen Scavengers Market (by Type), Value Data
4.3    U.K.
         4.3.1    Markets
                     4.3.1.1    Buyer Attributes
                     4.3.1.2    Key Producers and Suppliers in the U.K.
                     4.3.1.3    Regulatory Landscape
                     4.3.1.4    Business Drivers
                     4.3.1.5    Business Challenges
         4.3.2    Applications
                     4.3.2.1    U.K. Oxygen Scavengers Market ( by End-User), Value Data
         4.3.3    Products
                     4.3.3.1    U.K. Oxygen Scavengers Market ( by Form), Value Data
                     4.3.3.2    U.K. Oxygen Scavengers Market ( by Type), Value Data
4.4    China
         4.4.1    Markets
                     4.4.1.1    Buyer Attributes
                     4.4.1.2    Key Producers and Suppliers in the China
                     4.4.1.3    Regulatory Landscape
                     4.4.1.4    Business Drivers
                     4.4.1.5    Business Challenges
         4.4.2    Applications
                     4.4.2.1    China Oxygen Scavengers Market ( by End-User), Value Data
         4.4.3    Products
                     4.4.3.1    China Oxygen Scavengers Market ( by Form), Value Data
                     4.4.3.2    China Oxygen Scavengers Market ( by Type), Value Data
4.5    Asia-Pacific and Japan
         4.5.1    Markets
                     4.5.1.1    Key Producers and Suppliers in Asia-Pacific and Japan
                     4.5.1.2    Business Drivers
                     4.5.1.3    Business Challenges
         4.5.2    Applications
                     4.5.2.1    Asia-Pacific and Japan Oxygen Scavengers Market ( by End-User), Value Data
         4.5.3    Products
                     4.5.3.1    Asia-Pacific and Japan Oxygen Scavengers Market ( by Form), Value Data    
                     4.5.3.2    Asia-Pacific and Japan Oxygen Scavengers Market ( by Type), Value Data    
         4.5.4    Asia-Pacific and Japan (by Country)
                     4.5.4.1    Japan
                                    4.5.4.1.1    Markets
                                                      4.5.4.1.1.1    Buyer Attributes
                                                      4.5.4.1.1.2    Key Producers and Suppliers in Japan
                                                      4.5.4.1.1.3    Regulatory Landscape
                                                      4.5.4.1.1.4    Business Drivers
                                                      4.5.4.1.1.5    Business Challenges
                                    4.5.4.1.2    Applications
                                                      4.5.4.1.2.1    Japan Oxygen Scavengers Market (by End-User), Value Data
                                    4.5.4.1.3    Products
                                                      4.5.4.1.3.1    Japan Oxygen Scavengers Market (by Form), Value Data
                                                      4.5.4.1.3.2    Japan Oxygen Scavengers Market (by Type), Value Data
                     4.5.4.2    South Korea
                                    4.5.4.2.1    Market
                                                      4.5.4.2.1.1    Buyer Attributes
                                                      4.5.4.2.1.2    Key Producers and Suppliers in South Korea
                                                      4.5.4.2.1.3    Regulatory Landscape
                                                      4.5.4.2.1.4    Business Drivers
                                                      4.5.4.2.1.5    Business Challenges
                                    4.5.4.2.2    Applications
                                                      4.5.4.2.2.1    South Korea Oxygen Scavengers Market (by End-User), Value Data
                                    4.5.4.2.3    Products
                                                      4.5.4.2.3.1    South Korea Oxygen Scavengers Market (by Form), Value Data
                                                      4.5.4.2.3.2    South Korea Oxygen Scavengers Market (by Type), Value Data
                     4.5.4.3    India
                                    4.5.4.3.1    Markets
                                                      4.5.4.3.1.1    Buyer Attributes
                                                      4.5.4.3.1.2    Key Producers and Suppliers in India
                                                      4.5.4.3.1.3    Regulatory Landscape
                                                      4.5.4.3.1.4    Business Drivers
                                                      4.5.4.3.1.5    Business Challenges
                                    4.5.4.3.2    Applications
                                                      4.5.4.3.2.1    India Oxygen Scavengers Market (by End-User), Value Data
                                    4.5.4.3.3    Products
                                                      4.5.4.3.3.1    India Oxygen Scavengers Market (by Form), Value Data
                                                      4.5.4.3.3.2    India Oxygen Scavengers Market (by Type), Value Data
                     4.5.4.4    Rest-of-Asia-Pacific
                                    4.5.4.4.1    Market
                                                      4.5.4.4.1.1    Buyer Attributes
                                                      4.5.4.4.1.2    Key Producers and Suppliers in Rest-of-Asia-Pacific
                                                      4.5.4.4.1.3    Business Drivers
                                                      4.5.4.4.1.4    Business Challenges
                                    4.5.4.4.2    Applications
                                                      4.5.4.4.2.1    Rest-of-Asia-Pacific Oxygen Scavengers Market (by End-User), Value Data
                                    4.5.4.4.3    Products
                                                      4.5.4.4.3.1    Rest-of-Asia-Pacific Oxygen Scavengers Market (by Form), Value Data
                                                      4.5.4.4.3.2    Rest-of-Asia-Pacific Oxygen Scavengers Market (by Type), Value Data
4.6    Rest-of-the-World
         4.6.1    Market
                     4.6.1.1    Key Manufacturers/Suppliers in Rest-of-the-World
                     4.6.1.2    Business Drivers
                     4.6.1.3    Business Challenges
         4.6.2    Applications
                     4.6.2.1    Rest-of-the-World Oxygen Scavengers Market ( by End-User), Value Data    
         4.6.3    Products
                     4.6.3.1    Rest-of-the-World Oxygen Scavengers Market ( by Form), Value Data
                     4.6.3.2    Rest-of-the-World Oxygen Scavengers Market ( by Type), Value Data
         4.6.4    Rest-of-the-World: Region-Level Analysis
                     4.6.4.1    South America
                                    4.6.4.1.1    Market
                                                      4.6.4.1.1.1    Buyer Attributes
                                                      4.6.4.1.1.2    Key Manufacturers/Suppliers in South America
                                                      4.6.4.1.1.3    Regulatory landscape
                                                      4.6.4.1.1.4    Business Drivers
                                                      4.6.4.1.1.5    Business Challenges
                                    4.6.4.1.2    Applications
                                                      4.6.4.1.2.1    South America Oxygen Scavengers Market (by End-User), Value Data
                                    4.6.4.1.3    Products
                                                      4.6.4.1.3.1    South America Oxygen Scavengers Market (by Form), Value Data
                                                      4.6.4.1.3.2    South America Oxygen Scavengers Market (by Type), Value Data
                     4.6.4.2    Middle East and Africa
                                    4.6.4.2.1    Market
                                                      4.6.4.2.1.1    Buyer Attributes
                                                      4.6.4.2.1.2    Key Manufacturers/Suppliers in the Middle East and Africa
                                                      4.6.4.2.1.3    Regulatory landscape
                                                      4.6.4.2.1.4    Business Drivers
                                                      4.6.4.2.1.5    Business Challenges
                                    4.6.4.2.2    Applications
                                                      4.6.4.2.2.1    Middle East and Africa Oxygen Scavengers Market (by End-User), Value Data
                                    4.6.4.2.3    Products
                                                      4.6.4.2.3.1    Middle East and Africa Oxygen Scavengers Market (by Form), Value Data
                                                      4.6.4.2.3.2    Middle East and Africa Oxygen Scavengers Market (by Type), Value Data

5.1    Competitive Benchmarking
         5.1.1    Competitive Position Matrix
         5.1.2    Product Matrix for Key Companies
         5.1.3    Market Share Analysis of Key Companies
5.2    Company Profiles
         5.2.1    BASF SE
                     5.2.1.1    Company Overview
                                    5.2.1.1.1    Role of BASF SE in the Oxygen Scavengers Market
                                    5.2.1.1.2    Product Portfolio
                     5.2.1.2    Business Strategies
                                    5.2.1.2.1    Partnerships, Collaborations, Agreements, Investments, and Contracts
                     5.2.1.3    BASF SE: R&D Analysis
                     5.2.1.4    Analyst View
         5.2.2    Mitsubishi Gas Chemical Company
                     5.2.2.1    Company Overview
                                    5.2.2.1.1    Role of Mitsubishi Gas Chemical Company in the Oxygen Scavengers Market
                                    5.2.2.1.2    Product Portfolio
                     5.2.2.2    Mitsubishi Gas Chemical Company: R&D Analysis
                     5.2.2.3    Analyst View
         5.2.3    Clariant AG
                     5.2.3.1    Company Overview
                                    5.2.3.1.1    Role of Clariant AG in the Oxygen Scavengers Market
                                    5.2.3.1.2    Product Portfolio
                     5.2.3.2    Corporate Strategies
                                    5.2.3.2.1    Product Development
                     5.2.3.3    Clariant AG: R&D Analysis
                     5.2.3.4    Analyst View
         5.2.4    Arkema
                     5.2.4.1    Company Overview
                                    5.2.4.1.1    Role of Arkema in the Oxygen Scavengers Market
                                    5.2.4.1.2    Product Portfolio
                     5.2.4.2    Arkema: R&D Analysis
                     5.2.4.3    Analyst View
         5.2.5    Sherwin-Williams Company
                     5.2.5.1    Company Overview
                                    5.2.5.1.1    Role of Sherwin-Williams Company in the Oxygen Scavengers Market
                                    5.2.5.1.2    Product Portfolio
                     5.2.5.2    Sherwin-Williams Company: R&D Analysis
                     5.2.5.3    Analyst View
         5.2.6    Multisorb Technologies
                     5.2.6.1    Company Overview
                                    5.2.6.1.1    Role of Multisorb Technologies in the Oxygen Scavengers Market
                                    5.2.6.1.2    Product Portfolio
                     5.2.6.2    Analyst View
         5.2.7    SUEZ Group
                     5.2.7.1    Company Overview
                                    5.2.7.1.1    Role of SUEZ Group in the Oxygen Scavengers Market
                                    5.2.7.1.2    Product Portfolio
                     5.2.7.2    Corporate Strategies
                                    5.2.7.2.1    Market Developments
                     5.2.7.3    Business Strategies
                                    5.2.7.3.1    Partnerships, Collaborations, Agreements, Investments, and Contracts
                     5.2.7.4    Analyst View
         5.2.8    Accepta Water Treatment
                     5.2.8.1    Company Overview
                                    5.2.8.1.1    Role of Accepta Water Treatment in the Oxygen Scavengers Market
                                    5.2.8.1.2    Product Portfolio
                     5.2.8.2    Analyst View
         5.2.9    Eastman Chemical Company
                     5.2.9.1    Company Overview
                                    5.2.9.1.1    Role of Eastman Chemical Company in the Oxygen Scavengers Market
                                    5.2.9.1.2    Product Portfolio
                     5.2.9.2    Corporate Strategies
                                    5.2.9.2.1    Market Developments
                     5.2.9.3    Eastman Chemical Company: R&D Analysis
                     5.2.9.4    Analyst View
       5.2.10    Avient Corporation
                     5.2.10.1    Company Overview
                                      5.2.10.1.1    Role of Avient Corporation in the Oxygen Scavengers Market
                                      5.2.10.1.2    Product Portfolio
                     5.2.10.2    Corporate Strategies
                                      5.2.10.2.1    Product Development
                     5.2.10.3    Business Strategies
                                      5.2.10.3.1    Partnerships, Collaborations, Agreements, Investments, and Contracts
                     5.2.10.4    Avient Corporation: R&D Analysis
                     5.2.10.5    Analyst View
       5.2.11    TPG CO., LTD.
                     5.2.11.1    Company Overview
                                      5.2.11.1.1    Role of TPG CO., LTD. in the Oxygen Scavengers Market
                                      5.2.11.1.2    Product Portfolio
                     5.2.11.2    Analyst View
       5.2.12    Desiccare, Inc.
                     5.2.12.1    Company Overview
                                      5.2.12.1.1    Role of Desiccare, Inc. in the Oxygen Scavengers Market
                                      5.2.12.1.2    Product Portfolio
                     5.2.12.2    Analyst View
       5.2.13    Solenis
                     5.2.13.1    Company Overview
                                      5.2.13.1.1    Role of Solenis in the Oxygen Scavengers Market
                                      5.2.13.1.2    Product Portfolio
                     5.2.13.2    Business Strategies
                                      5.2.13.2.1    Partnerships, Collaborations, Agreements, Investments, and Contracts
                     5.2.13.3    Analyst View
       5.2.14    Indorama Ventures
                     5.2.14.1    Company Overview
                                      5.2.14.1.1    Role of Indorama Ventures in the Oxygen Scavengers Market
                                      5.2.14.1.2    Product Portfolio
                     5.2.14.2    Business Strategies
                                      5.2.14.2.1    Partnerships, Collaborations, Agreements, Investments, and Contracts
                     5.2.14.3    Indorama Ventures: R&D Analysis
                     5.2.14.4    Analyst View
       5.2.15    Schlumberger Limited
                     5.2.15.1    Company Overview
                                      5.2.15.1.1    Role of Schlumberger Limited in the Oxygen Scavengers Market
                                      5.2.15.1.2    Product Portfolio
                     5.2.15.2    Schlumberger Limited: R&D Analysis
                     5.2.15.3    Analyst View
       5.2.16    Wilhelmsen Group
                     5.2.16.1    Company Overview
                                      5.2.16.1.1    Role of Wilhelmsen Group in the Oxygen Scavengers Market
                                      5.2.16.1.2    Product Portfolio
                     5.2.16.2    Corporate Strategies
                                      5.2.16.2.1    Mergers, Acquisitions, Collaborations, Partnerships, and Joint Ventures
                     5.2.16.3    Analyst View
       5.2.17    FINEAMIN SA
                     5.2.17.1    Company Overview
                                      5.2.17.1.1    Role of FINEAMIN SA in the Oxygen Scavengers Market
                                      5.2.17.1.2    Product Portfolio
                     5.2.17.2    Business Strategies
                                      5.2.17.2.1    Partnerships, Collaborations, Agreements, Investments, and Contracts
                     5.2.17.3    Analyst View
       5.2.18    Ocean Chemicals
                     5.2.18.1    Company Overview
                                      5.2.18.1.1    Role of Ocean Chemicals in the Oxygen Scavengers Market
                                      5.2.18.1.2    Product Portfolio
                     5.2.18.2    Analyst View
       5.2.19    HLC Vietnam
                     5.2.19.1    Company Overview
                                      5.2.19.1.1    Role of HLC Vietnam in the Oxygen Scavengers Market
                                      5.2.19.1.2    Product Portfolio
                     5.2.19.2    Analyst View
       5.2.20    Weihai Xiangyu Technology Co., Ltd
                     5.2.20.1    Company Overview
                                      5.2.20.1.1    Role of Weihai Xiangyu Technology Co., Ltd, in the Oxygen Scavengers Market
                                      5.2.20.1.2    Product Portfolio
                     5.2.20.2    Analyst View

6.1    Primary Data Sources
6.2    BIS Data Sources
6.3    Assumptions and Limitations

Table 1:    Commercially Available Oxygen Scavengers
Table 2:    Consortiums and Associations
Table 3:    Regulatory/Certification Bodies
Table 4:    List of Government Programs for Oxygen Scavengers
Table 5:    List of Programs by Research Institutions and Universities
Table 6:    Key Product Developments
Table 7:    Key Market Developments (2018-2021)
Table 8:    Key Mergers and Acquisitions
Table 9:    Key Partnerships and Joint Ventures
Table 10:    Key Valuable Pharmaceutical Companies, 2020
Table 11:    Total Primary Energy Demand (by Fuel Type), 2019-2045
Table 12:    Global Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 13:    Global Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 14:    Global Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 15:    Global Oxygen Scavengers Market (by Region), $Million, 2021-2031
Table 16:    North America Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 17:    North America Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 18:    North America Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 19:    U.S. Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 20:    U.S. Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 21:    U.S. Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 22:    Canada Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 23:    Canada Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 24:    Canada Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 25:    Mexico Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 26:    Mexico Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 27:    Mexico Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 28:    Europe Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 29:    Europe Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 30:    Europe Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 31:    Germany Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 32:    Germany Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 33:    Germany Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 34:    France Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 35:    France Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 36:    France Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 37:    Italy Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 38:    Italy Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 39:    Italy Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 40:    Spain Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 41:    Spain Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 42:    Spain Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 43:    Rest-of-Europe Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 44:    Rest-of-Europe Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 45:    Rest-of-Europe Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 46:    U.K. Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 47:    U.K. Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 48:    U.K. Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 49:    China Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 50:    China Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 51:    China Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 52:    Asia-Pacific and Japan Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 53:    Asia-Pacific and Japan Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 54:    Asia-Pacific and Japan Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 55:    Japan Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 56:    Japan Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 57:    Japan Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 58:    South Korea Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 59:    South Korea Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 60:    South Korea Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 61:    India Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 62:    India Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 63:    India Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 64:    Rest-of-Asia-Pacific Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 65:    Rest-of-Asia-Pacific Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 66:    Rest-of-Asia-Pacific Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 67:    Rest-of-the-World Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 68:    Rest-of-the-World Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 69:    Rest-of-the-World Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 70:    South America Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 71:    South America Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 72:    South America Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 73:    Middle East ans Africa Oxygen Scavengers Market (by End-User), $Million, 2021-2031
Table 74:    Middle East and Africa Oxygen Scavengers Market (by Form), $Million, 2021-2031
Table 75:    Middle East and Africa Oxygen Scavengers Market (by Type), $Million, 2021-2031
Table 76:    Product Matrix for Key Companies
Table 77:    Market Shares of Key Companies

Figure 1:    Global Oxygen Scavengers Market, $Million, 2021, 2022, and 2031
Figure 2:    Global Oxygen Scavengers Market (by End User), $Million, 2021 and 2031
Figure 3:    Global Oxygen Scavengers Market (by Type), $Million, 2021 and 2031
Figure 4:    Global Oxygen Scavengers Market (by Form), $Million, 2021 and 2031
Figure 5:    Global Oxygen Scavengers Market (by Region), $Million, 2021 and 2031
Figure 6:    Global Oxygen Scavengers Market Coverage
Figure 7:    Supply Chain Analysis of Oxygen Scavengers Market
Figure 8:    Real Gross Domestic Product (GDP) Year-on-Year Growth, 2019-2021
Figure 9:    Global Pharmaceuticals Sales (by Region), 2020
Figure 10:    Number of Research Articles Published, 2017-2022
Figure 11:    Product Benchmarking
Figure 12:    Total Year-Wise Patents Filed for Global Oxygen Scavengers Market, January 2019-December 2021
Figure 13:    Patent Analysis (by Status), January 2019-December 2021
Figure 14:    Patent Analysis (by Organization), January 2019-December 2021
Figure 15:    Research Methodology
Figure 16:    Top-Down and Bottom-Up Approach
Figure 17:    Oxygen Scavengers Market; Influencing Factors
Figure 18:    Assumptions and Limitations

Market Report Coverage

Oxygen Scavengers Market

Base Year

2021

Market Size in 2021

$2,324.4 Million

Forecast Period

2022-2031

Value Projection and Estimation by 2031

$4,318.4 Million

CAGR During Forecast Period

6.4%

Number of Tables

77

Number of Pages

188

Number of Figures

18

 

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.

Based on form, the sachets segment is expected to lead the oxygen scavengers market and capture around 42.4% of the market as of 2021. Players utilizing other forms, including resin, accounted for around 22.5%, canisters accounted for 15.2%, liquid accounted for around 12.0%, stickers accounted for approximately 2.1%, and other forms of oxygen scavengers accounted for less than 5.9% of the total demand in 2021.

Oxygen Scavengers Market

Some of the prominent established names in this market are:

Company Type 1 (by Form): Canisters
•    Mitsubishi Gas Chemical Company
•    Multisorb Technologies

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

Company Type 3 (by Form): Stickers
•    Mitsubishi Gas Chemical Company
•    Multisorb Technologies

Company Type 4 (by Form): Resin
•    Clariant AG
•    Avient Corporation
•    Indorama Ventures
•    Sherwin-Williams Company

Company Type 5 (by Form): Liquid and Others
•    BASF SE
•    Arkema
•    SUEZ Group
•    Accepta Water Treatment
•    Schlumberger Limited
•    Eastman Chemical Company

Companies that are not a part of the previously mentioned pool have been well represented across different sections of the report (wherever applicable).

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different forms and types involved in the oxygen scavenger market. The form segment includes sachets, canisters, stickers, resin, liquid, and others, while the type segment includes organic oxygen scavengers and inorganic oxygen scavengers. Moreover, the study provides the reader with a detailed understanding of the oxygen scavengers market based on end user (food and beverages, pharmaceuticals, oil and gas, chemicals, and others). The government’s need for more environment-friendly methods to prevent packaging wastage problems is fuelling the demand for oxygen scavengers.

Growth/Marketing Strategy: The oxygen scavengers market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been business expansions and acquisitions to strengthen their position in the oxygen scavengers market. For instance, in July 2020, Avient acquired the color masterbatch businesses of Clariant. The masterbatch business includes around 46 manufacturing operations and technology centers in 29 countries and approximately 3,500 employees.

Competitive Strategy: Key players in the oxygen scavengers market analyzed and profiled in the study involve oxygen scavenger manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the oxygen scavengers market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Industry and Technology Overview

Oxygen Scavengers Market: Industry Overview

The global oxygen scavengers market is projected to reach $4,318.4 million by 2031 from $2,324.4 million in 2021, growing at a CAGR of 6.4% during the forecast period 2022-2031.

The function of oxygen scavengers is to limit the amount of oxygen available for deteriorative reactions, which may lead to reduced functionality of many types of products, including food and beverages, pharmaceuticals, chemicals, and others. Oxygen scavengers are expected to be more valuable as packaging becomes technologically advanced. Oxygen scavengers are critical elements for the rapidly expanding food and beverage sector. Growth in the oxygen scavengers market is being driven by the increasing usage of oxygen scavengers in active and intelligent packaging and technological developments related to the use of oxygen scavengers.

Market Lifecycle Stage

The oxygen scavengers market is still in the growing phase for food and beverages and pharmaceutical applications owing to ongoing development in these industries; however, for applications such as oil and gas and chemicals, the market is comparatively in its mature stage. The market is expected to benefit from the growing focus on stringent government rules and regulations by regulatory organizations in various regions and countries, as oxygen scavengers are widely utilized for extending the shelf life of food and pharma products, thereby improving the quality of packaged products. Increasing awareness amongst the consumers related to the food quality is expected to create potential market demand for oxygen scavengers.

Figure: Global Oxygen Scavengers Market, $Million, 2021, 2022, and 2031

Oxygen Scavengers Market

Industrial Impact

•  With an increased worldwide focus on achieving zero wastage, the shift toward sustainable technologies brings significant sales and financing opportunities in active and intelligent packaging. This shift was prominently experienced in regions and countries such as North America, Europe, the Middle East, and some Asian countries.
•  Furthermore, oxygen scavengers have a moderate to high impact on food and pharma applications; however, in the upcoming future, with increased awareness amongst the consumers related to food quality, the impact is anticipated to increase.

Impact of COVID-19

The COVID-19 pandemic considerably impacted the production of oxygen scavengers as a result of country-wide shutdowns of manufacturing sites, labor shortages, and disruptions in supply and demand chains 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 pharma packaging sector. Pharmaceutical sales grew drastically during the pandemic period, which boosted the sales of oxygen scavengers. During recovery, with increased research and development activities and the increased need for sustainable packaging, the demand for oxygen scavengers is anticipated to be robust.

Market Segmentation:

Segmentation 1: by End User
•    Pharmaceuticals
•    Food and Beverages
•    Chemicals
•    Oil and Gas
•    Others

Food and beverages are anticipated to be one of the prominent end-use markets for oxygen scavengers during the forecast period 2022-2031.

Segmentation 2: by Form
•    Canisters
•    Sachets
•    Stickers
•    Resin
•    Liquid
•    Others

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

Segmentation 3: by Type
•    Organic Oxygen Scavengers 
•    Inorganic Oxygen Scavengers

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

Segmentation 4: by Region
•    North America - U.S., Canada, and Mexico
•    Europe - Germany, France, Italy, Spain, and Rest-of-Europe (RoE)
•    China
•    U.K.
•    Asia-Pacific and Japan - Japan, India, South Korea, and Rest-of-Asia-Pacific 
•    Rest-of-the-World - South America and the Middle East and Africa

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

Recent Developments in Oxygen Scavengers Market

•  In September 2017, SUEZ Group acquired GE Water & Process Technologies for around $3.4 billion. This transaction is a group’s strategy for expanding its offering for industrial clients, reinforcing its international footprint, and boosting digital and innovation platforms, especially 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, obtaining the intellectual property rights of POLYSHIELD PET and OXYCLEAR Barrier PET, Invista’s barrier technology, in all markets globally.
•  In 2021, Solenis was acquired by Platinum Equity from Clayton, Dubilier & Rice (CD&R) and BASF in a transaction 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 a combined revenue of approximately $3.5 billion.

Demand - Drivers and Limitations

Following are the demand drivers for the oxygen scavengers market:

•    Rising Awareness amongst the Consumers related to Food Quality    
•    Rising demand for Convenience Foods and Active Food Packaging
•    Increasing developments in Pharmaceutical Industry

The market is expected to face some limitations due to the following challenges:

•    Hazards Associated with Chemicals in Oxygen Scavengers to Human Health and Potential Threat to Efficiency of Steam Generation Process
•    Inconvenience Associated with Oxygen Scavenger Sachets in Food Packaging

Analyst Thoughts

According to Sachin Singh, Lead Analyst, BIS Research, "Oxygen scavengers are widely used in the food and pharma industry for packaging owing to increasing awareness related to sustainable packaging solutions. Moreover, oxygen scavengers are used as corrosion inhibitors for feed and boiler water treatment in oil and gas and chemical industries. With the increased replacement of traditional packaging methods with oxygen scavengers-based active packaging, wastages are expected to decline substantially, thereby bolstering the growth of the oxygen scavengers market.”

FAQ's

What are oxygen scavengers?

Oxygen scavengers are materials composed of one or more reactive compounds with oxygen, used to reduce the content of oxygen or completely remove oxygen in fluids or enclosed packaging. The function of oxygen scavengers is to limit the amount of oxygen available for deteriorative reactions, which may lead to reduced functionality of many types of products, including food and beverages, pharmaceuticals, chemicals, and others.

What are the key trends in the oxygen scavengers market?

Rising demand for oxygen scavenger sachets in food and pharmaceutical drugs packaging and integration of polymer-based oxygen scavengers in new packaging products are some of the key trends ongoing in the oxygen scavengers market.

What kinds of new strategies are being adopted by the existing market players to strengthen their market position in the industry?

The oxygen scavengers market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. According to BIS Research analysis, most of the companies preferred partnerships, collaborations, mergers and acquisitions, and joint ventures as a strategy to further increase their growth in the oxygen scavengers market. Companies such as SUEZ Group, Avient Corporation, and Solenis have majorly adopted the strategies such as mergers and acquisitions.

For a new company looking to enter the oxygen scavengers market, which areas could it focus upon to stay ahead of the existing competition?

A new entrant can focus on providing oxygen scavengers to end-use sectors such as food and beverages and pharmaceuticals due to the high demand and adoption of oxygen scavengers for these applications globally.

What is the USP of this report?

The following can be termed as some of the USPs of the report:

• Extensive competitive benchmarking of 20 key players done to offer a holistic view of the oxygen scavenger market landscape
• Market segregation based on form, type, and end user
• Investment landscape, including product adoption scenario, funding, and patent analysis

Who should buy this report?

The companies that produce and commercialize oxygen scavengers, end-use sectors, research institutions, and regulatory bodies involved in oxygen scavengers should buy this report.

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