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Oxygen
Scavengers Market Overview
Oxygen scavengers market size is forecast to reach US$2.8 billion by 2026, after growing at a CAGR of 4.6% during 2021-2026. Oxygen scavengers such as ferrous carbonate and sodium hydrogen carbonate are oxygen absorbers are extensively used to prevent or to control oxygen deterioration rate and to prevent spoilage in packaged foods, beverages, pharmaceuticals, and medical devices. Oxygen scavengers coated with pyrogallic acid can provide several benefits such as enhancing production efficiency, improving operational reliability, and ensuring safety compliance along with environmental regulations, which is expected to increase the market demand. The rapid growth of the food & beverages industry has increased the demand for oxygen absorbers; thereby, fueling the market growth. Furthermore, the flourishing oil & gas industry is also expected to drive the oxygen scavengers industry substantially during the forecast period.
COVID-19 Impact
A wide range of stakeholders, including manufacturers, vendors, distributors, and consumers, are calling for action in response to the global COVID-19 crisis. A decline in business for at least five months during 2020 coupled with lower demand from a few major markets has put pressure on the profitability of oxygen scavenger manufacturers and vendors. However, the negative impact of COVID-19 on oxygen scavengers to be compensated over the medium to long term future. UV stabilizers importers are trying to keep a condensed output, shrink product inventory, and keep their feedstock consumption at low levels. Some companies have postponed feedstock shipments, while others continue to reduce spot purchases. Amid the COVID-19 pandemic, reducing demand has led to decreasing global production of oxygen scavengers, which is having a major impact on the oxygen scavengers market.
Oxygen Scavengers Market Report Coverage
The report: “Oxygen Scavengers Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the oxygen scavengers Industry.
By Composition: Organic,
and Inorganic
By Form: Sachets, Plastic
Films, Labels, Bottle Crowns, and Others
By Type: Metallic Oxygen
Scavengers, and Non-Metallic Oxygen Scavengers
By End-Use Industry: Power
Generation, Food & Beverages (Fresh Food, Dairy, Bakery, Poultry, and
Others), Paper & Pulp, Oil & Gas (Pipelines, Fluid Injection,
Deposition, Scaling, and Others), Chemical, Medical & Healthcare (Tablets
and Capsules, Liquefied Gas Inhalers, Syringes and Vials, Diagnostic Devices,
Additives, Surgical Implants, Vitamins, and Others), and Others
By Geography: North
America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy,
Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China,
Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan,
Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile,
and Rest of South America), Rest of the World (Middle East, and Africa)
Key Takeaways
- North America dominates the oxygen scavengers market, owing to the flourishing chemical industry in the region. According to the European Chemical Industry Council (CEFIC), the European chemical industry is a world leader and a highly innovative sector and its sales grew by 2.8% from 2017 to 2018.
- Oxygen scavengers are used to prevent the corrosion caused by dissolved oxygen in steam boilers from metal and alloy fabricated equipment in atmospheric conditions, as well as to control the corrosion of industrial liquid separation processes such as distillation, extraction, and wastewater treatment plants where saltwater is generally produced in large quantities. These liquid nitrogen applications are projected to increase the growth of the market.
- Due to the Covid-19 pandemic, most of the countries have gone under lockdown, due to which the operations of various industries such as food and beverages, oil & gas, chemicals are disruptively stopped, which is limiting the demand for ferrous carbonate and sodium hydrogen carbonate oxygen scavengers.
Figure: North America Oxygen Scavengers Market Revenue, 2020-2026 (US$ Billion)
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Oxygen Scavengers Market Segment Analysis – By Type
The metallic
segment held the largest share in the oxygen scavengers market in 2020. Some of
the metallic oxygen scavengers that have a metal content are iron powder,
bisulfite ions, sodium bisulfite, and metal halides. Growth is expected to be
driven by the use of these scavengers to prevent spoilage, mold growth, and
color changes. Also, compared to non-metallic ones, these are simple to handle
and have a quicker reaction. In addition, as compared to non-metallic oxygen
scavengers such as ascorbic acids and glucose oxidase, metallic oxygen
scavengers are easy to handle and provide a fast reaction. However, over the
forecast year, the segment of non-metallic oxygen scavengers is expected to be
the fastest-growing. Ascorbic acid, citrus, hydrazine, glucose oxidase, and
activated carbon are among others. The increased usage of scavengers in the
packaging of products where metal detection is a difficulty can be linked to
their less toxic nature and the expanding usage of scavengers in the packaging
of products where metal detection is an issue.
Oxygen Scavengers Market Segment Analysis – By End-Use Industry
The food and beverages segment held the largest share in the oxygen scavengers market in 2020 and is growing at a CAGR of 8.9% during 2021-2026. This can be attributed to the increasing use of oxygen scavengers coated with pyrogallic acid in food products to extend their shelf life and prevent rancidity and loss of nutritional value. Therefore, during the forecast period, the food and beverage market is expected to be the fastest-growing end-use industry. Oxygen scavengers such as ferrous carbonate and sodium hydrogen carbonate protect the food products against oxygen degradation, thus increasing the shelf life, customer acceptability, and food safety. The consumption of processed food is also growing with increasing disposable income and improving lifestyle standards. According to Wageningen Economic Research and United Nations Industrial Development Organization (UNIDO), Europe is the world’s largest food & beverage industry followed by China and the U.S. in terms of turnover. The Economist Intelligence Unit stated that there will be an increase of 60% in global demand for food by 2050. With the increasing growth of the food & beverage industry, the use of oxygen scavengers will also rise during the forecast period.
Oxygen Scavengers Market Segment Analysis – By Geography
North America region held the largest share in the oxygen scavengers market in 2020 up to 34% and is growing at a CAGR of 6.3% during 2021-2026, owing to the increasing demand for oxygen scavengers from the food and beverages industry in the region. Oxygen scavengers are mostly employed in the food and beverage industry to increase the shelf life and maintain the natural qualities of products. According to the United States Department of Agriculture (USDA), food manufacturing sales in Canada totaled US$80 billion in 2017, while beverage manufacturing sales totaled US$5 billion, and total food and beverage industry sector sales in Canada were US$87 billion in 2018. The Canadian government wants to grow agri-food exports by 26% by 2025, with the food processing sector expected to lead the way. Thus, with the expanding food and beverage industry, the demand for food packaging will also subsequently increase, which will then propel the oxygen scavengers market in North America during the forecast period.
Oxygen
Scavengers Market – Drivers
Increasing Pharmaceutical Industry
In the pharmaceutical industry, oxygen scavengers are used to protect the packaging from moisture, mold, oxygen, loss of consistency, and color changes. The applications with great potential are newer drug formulations and moisture-free packaging. Oxygen scavengers retain low levels of oxygen and extract moisture from the packaging, thus retaining the stability of the medication and extending its shelf life and consistency. India is the biggest distributor of generic drugs globally, according to the Indian Brand Equity Foundation (IBEF). Indian pharmaceutical industry supplies more than 50 % of global demand for various vaccines, 40% of US generic demand, and 25% of all medicines in the UK. And the Indian pharmaceutical sector is expected to grow to US$ 100 billion and the medical device market is expected to grow US$25 billion by 2025. With the fast growth of the pharmaceutical industry, the demand for oxygen scavengers will also rise during the forecast period, which will drive the market growth.
Flourishing Food & Beverage Industry
Oxygen scavengers have numerous applications in the food and beverage sector. They not only help to retain the fresh-roasted flavor of coffee and nuts but also help in avoiding the oxidation of oleoresins existing in spices and seasoning foods. According to the International Trade Administration, Russia is the ninth largest market for processed food commodities, with a trading volume of 27.5 million tonnes, and drinks (alcoholic and soft) with a trading volume of 26 billion liters. According to the United States Department of Agriculture (USDA), in 2018, the total value of all retail food and beverage sales in Japan was US$479.3 billion (¥53,339 billion), an overall increase of 2.3 percent. According to the United States Department of Agriculture (USDA), China’s food processing industry revenue climbed to US$1.4 trillion, an increase of 6.3 percent compared with the previous year. The rising disposable income has resulted in the increasing demand for the food and beverage industry in various regions, which is further driving the growth of the oxygen scavengers market. Thus, the expanding food and beverage industry acts as a driver for the oxygen scavenger market.
Oxygen Scavengers Market – Challenges
Heath Hazards Related to the Oxygen Scavengers
Scavengers of oxygen such as hydrazine and iron oxides are hazardous to health. Hydrazine, for example, can lead to eye, nose, and throat irritation; dizziness; headache; nausea; pulmonary edema; convulsions; and coma. Iron oxide exposure can cause fever, aches in the body, and tightness in the chest, cough, and pneumoconiosis. The introduction of different legislation relating to the handling of hazardous chemicals has contributed to these health risks related to oxygen scavengers. This is one of the major challenges for the growth of the oxygen scavengers market during the forecast period.
Oxygen Scavengers Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the oxygen scavengers market. Major players in the oxygen scavengers market are Mitsubishi Gas Chemical Company, BASF SE, Ecolab Inc., PolyOne, Clariant Ltd., and Kemira OYJ.
Acquisitions/Technology Launches
In April 2020, ColorMatrix Amosorb 4020G, a low-haze oxygen scavenger for rigid PET packaging was released by PolyOne. When compared to earlier grades, the new oxygen scavenger produces roughly 50% less haze and has a lower impact on the PET recycling stream while keeping the same reliable active oxygen scavenging capability.
Relevant Reports
Oxygen Concentrator
Market – Forecast (2020 - 2025)
Report Code: HCR 0351
Portable Oxygen
Concentrators Market - Forecast 2019 - 2024
Report Code: HCR 49697
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