Press release
COVID-19 to Impact Demand Growth of Oxygen scavengers market | Key players are Clariant, Henkel, KGaA, Multisorb, Desiccare, Arkema, Tetra
Oxygen scavengers market
With the rising popularity of active packaging, food & beverage and pharmaceutical sectors are likely to offer major scope for oxygen scavenging product penetration. Risk of oxygen scavenging sachets getting ruptured and accidental ingestion of the materials with food may affect product popularity. Also, some of the oxygen absorbers utilized for boiler feed treatment are harmful, which may hamper product consumption for these products in the coming years.
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In industrial boilers, keeping up the optimum boiler efficiency is of utmost importance. Oxygen dissolved in feed water leads to damaging of boiler components and unnecessary breakdowns. If unchecked, oxygen also causes pitting of metal, resulting in rust formation. To maintain desired operational efficiency. Utilization of oxygen scavengers along with deaerators becomes necessary.
Asia Pacific is estimated to be a key contributor towards the oxygen scavengers market share owing to the high proportion of convenience eating among consumers and massive investments on packaged food products. In addition, high disposable income of consumers, as well as awareness of nutritional and functional food, will drive the growth of packaged food industry.
Reports suggest that oxygen scavengers market size from food & beverage end-use sector is anticipated to grow over 4.5 % CAGR by 2025. Growing population, high GDP, and presence of several manufacturers will open up large scale opportunities in this region to accelerate food and beverage production activities.
North America is expected to emerge as an important revenue pocket for the oxygen scavengers market. This growth can be attributed to the rapidly expanding pharmaceutical sector in the region. The nations in this region are spending heavily on prescription drugs.
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Rapid industrialization as well as expansion of manufacturing sector has facilitated the growth of boiler industry and the demand for oxygen scavengers. Industrial manufacturers are opting for the product in an effort to reduce repair & maintenance costs and enhancing productivity. Scavengers in canisters, bottle caps & labels and sachet forms are poised to showcase consistent growth rate over the analysis period.
Ease of usability and superior oxygen reducing performance offered by the product will result in major consumption of oxygen scavenging sachet & labels. Organic oxygen scavengers market is expected to hold over 35% of the overall market share by 2025. Shifting trends towards organic materials will boost product adoption in the coming years. Powder form segment is projected to generate revenue of more than USD 800 million by 2025 on account of wide range of product application for water treatment in boiler industry.
Major 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.
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