Oxygen Scavengers Market Analysis

Oxygen Scavengers Market Analysis

Based on composition, the oxygen scavengers market is segmented into organic and inorganic products. Among these two segments, inorganic oxygen scavengers are used in a large scale as compared to the organic scavengers, and this segment captured more than USD 950 million in 2018. Under this segment, iron based scavengers are mostly preferred for packaging applications, whereas sodium sulfite & bisulfites and hydrazine hydrate are used for boiler feed water treatment processes.
 

Organic oxygen scavengers market will grow at a CAGR close to 5% by 2025. They have limited range of applications, but display positive outlook owing to continuous research and development activities. Salts made from ascorbic acid and catechol for packaging and carbohydrazide, diethyl hydroxylamine (DEHA), hydroquinone, erythrobate salts, etc. for water treatment in industrial boilers fall under this category.
 

Based on form, the oxygen scavengers market is classified into sachets/canisters/bottle caps & labels, OS films & PET bottles, liquid form and powder form. Sachets/canisters/bottle caps & labels segment registered a significant market share in terms of volume for the year 2018. They are widely used due to easy availability and low cost. The oxygen scavenging speed of sachets & labels is much faster than the oxygen scavenging material directly incorporated into packaging.
 

Liquid form of oxygen absorbers will grow at a CAGR more than 4% over the forecast period. They effectively remove leftover oxygen in boilers, while preventing corrosion of various parts. It decreases the possibility of system failure and improves the productivity of industrial boilers.

Based on end-user, the oxygen scavengers market is divided into food & beverage, pharmaceutical, oil & gas, power generation and others. The others segment includes chemical, pulp & paper, electronics, medical devices, artwork, etc. Oil & gas sector will grow at a CAGR more than 4% at the end of 2025. The product is used for scavenging oxygen from drilling fluid, seawater injection facilities, acid stimulation, hydro-testing, transportation of wet gas fluid, etc.
 

Power generation sector captured a considerable revenue share in 2018. Oxygen scavengers are used for corrosion control in thermal power plants. Rising need for power generation all over the world is likely to propel the market growth in upcoming years.
 

Asia Pacific oxygen scavengers market generated around USD 800 million in 2018 and will be the fastest growing region. This strong growth is attributable to favorable trends associated with food & beverage packaging industry within this region. Increasing consumption of packaged foods coupled with emphasis on minimizing food wastage are likely to support the market growth in future.
 

North America market will grow at a CAGR around 3.5% within the projected time period owing to rising demand from pharmaceutical packaging and oil & gas industries. According to European Federation of Pharmaceutical Industries and Associations (EFPIA), North America accounted for over 45% market share in global pharmaceutical market in 2017. Increasing applications related to preservation of drugs for stipulated time period will trigger the product demand in future.