Oxygen Scavenger Global Market Report 2024

Oxygen scavengers, also referred to as oxygen absorbers, are chemical substances employed as corrosion inhibitors in packaging, production separation, seawater injection systems, and oil and gas production facilities. Their primary purpose is to diminish or entirely eliminate oxygen from fluids and enclosed spaces, thereby preventing oxygen-induced corrosion.

The main categories of oxygen scavengers are metallic and non-metallic. Non-metallic oxygen scavengers utilize organic reducing agents like water-soluble vitamins, ascorbate salts, or catechol. These scavengers are available in various forms, including sachets, canisters, bottle caps and labels, OS films and pet bottles, liquid form, and powder form. Compositions can be organic or inorganic, finding application across diverse sectors such as food and beverage, pharmaceuticals, power, oil and gas, chemicals, and pulp and paper.

The oxygen scavenger market research report is one of a series of new reports that provides oxygen scavengers market statistics, including oxygen scavengers industry global market size, regional shares, competitors with an oxygen scavengers market share, detailed oxygen scavengers market segments, market trends and opportunities, and any further data you may need to thrive in the oxygen scavengers industry. This oxygen scavenger market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The oxygen scavenger market size has grown strongly in recent years. It will grow from $2.42 billion in 2023 to $2.62 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The expansion observed in the historical period can be attributed to various factors, including the need for food preservation, advancements in the pharmaceutical industry, growth in the beverage industry, developments in the chemical industry, and the impact of environmental regulations.

The oxygen scavenger market size is expected to see strong growth in the next few years. It will grow to $3.6 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The anticipated growth in the forecast period can be linked to several key sectors, including aerospace and defense, e-commerce, oil and gas exploration, industrial automation, the electronics industry, and medical devices and diagnostics. Major trends expected in the forecast period encompass a focus on sustainability and green packaging, advancements in water treatment, increased adoption of industrial automation, the development of advanced packaging materials, and heightened emphasis on corrosion prevention.

The anticipated rise in demand from the food and beverage industry is set to drive the growth of the oxygen scavengers market. The food industry encompasses various activities such as production, processing, preparation, conversion, preservation, and packaging of foodstuffs. Oxygen scavengers are incorporated into foods and beverages to minimize or eliminate dissolved oxygen, extending shelf life and preserving the original quality of the products. As of September 2022, a report from Statistics Sweden, a government agency, indicated a revenue growth of 2.9%, reaching $29.85 billion (SEK 334 billion) in food and beverage sales. This growth is attributed to a 2.5% increase in sales volume and a 0.4% rise in food and beverage prices, underscoring the influence of heightened demand from the food and beverage sector on the oxygen scavenger market.

The burgeoning construction industry is poised to contribute to the growth of the oxygen scavengers market. The construction sector, encompassing planning, designing, building, and maintenance of structures and infrastructure, relies on oxygen scavengers in water-based heating and cooling systems, particularly HVAC systems, to prevent corrosion in various metal components and structures. This safeguards system longevity and ensures safety. As of February 2022, a report from the UK's Office for National Statistics highlighted a substantial annual increase of 12.7% in the construction sector. December 2021 saw a 2.0% monthly growth in construction output volume, attributed to a 3.5% surge in new construction projects. The fourth quarter of 2021 experienced a 1.0% production increase compared to the third quarter, emphasizing the positive impact of the growing construction industry on the oxygen scavengers market.

Innovative product development is a prominent trend in the oxygen scavenger market, with major companies introducing eco-friendly packaging solutions to meet diverse customer demands and enhance revenue. Eco-friendly packaging, also known as sustainable or green packaging, focuses on materials and practices with minimal negative environmental impacts. In July 2023, Mitsubishi Gas Chemical, a Japanese chemical company, launched AGELESS, a PFAS-free oxygen absorber, pioneering a universal packaging solution by eliminating toxic grease-proofing agents. This innovation, a first in the industry, ensures that AGELESS oxygen absorbers are entirely free of PFAS, maintaining quality, performance, and safety. These PFAS-free oxygen absorbers retain their oil-resistant properties, effectively deoxidizing sealed packages to preserve flavor, color, fragrance, and nutritional value while significantly extending shelf life.

Major companies in the oxygen scavenger market are also developing innovative products like non-nylon-containing oxygen scavenger additives to cater to a broader customer base, increase sales, and boost revenue. A non-nylon-containing oxygen scavenger additive is a substance or component used to reduce or remove oxygen within a sealed environment. In May 2021, Avient Corporation, a US-based plastics material and resin manufacturing company, introduced ColorMatrix Amosorb 4020R, a specially formulated oxygen scavenger additive without nylon. Designed to facilitate the use of up to 100% recycled PET (rPET) content, this additive enhances the recyclability of plastic packaging. Amosorb 4020R offers reliable oxygen-scavenging capabilities even with varying rPET content, addressing issues such as haze and color, and maintaining visual appeal during the recycling process. Compatible with various rPET grades, this additive becomes a valuable tool for brand owners striving to meet sustainability objectives.

In September 2022, Solenis, a US-based specialty chemicals manufacturing company, acquired Clearon Corp. for an undisclosed amount. This acquisition positions Solenis to expand its offerings in pool water and spa treatment markets for residential and commercial sectors. The acquisition includes all assets of Clearon Corp., including a production facility in South Charleston, West Virginia, and a dedicated facility for tableting and packaging. Clearon Corp., a US-based specialty chemical manufacturer, contributes essential sanitizers and disinfectants used in water treatment across households, industries, and institutions.

Major companies operating in the oxygen scavenger market include Mitsubishi Gas Chemical Company Inc., BASF SE, Clariant AG, Ecolab Inc., Accepta Ltd., Arkema Group, Eastman Chemical Company, Henkel AG & Co. KGaA, Aditya Birla Chemicals, Esseco Ltd., Kuraray Co. Ltd., DOW Chemical Company, Conventya Inc., Chemco Industries Inc., Kemira Oyj, Hydrite Chemical Co., Kurita Water Industries Ltd., Baker Hughes, Innospec Inc., GE Water & Process Technologies, Veolia Water Technologies, Nalco Water, ChemTreat Inc., Italmatch Chemicals S.p.A., BWA Water Additives US LLC, Carus Corporation, SNF Group, Buckman Laboratories International Inc., Solvay SA, Lubrizol Corporation, Huntsman Corporation, AkzoNobel N.V., Evonik Industries AG, Calgon Carbon Corporation, Sumitomo Chemical Co. Ltd., Tosoh Corporation, Weifang Yaxing Chemical Co.Ltd., Chemworld Overseas Private Limited

North America was the largest region in the oxygen scavenger market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the oxygen scavengers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the oxygen scavenger market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The oxygen scavenger market consists of sales of sulphite, tannin, DEHA, and carbohydrazide in pouches, jars, and cans. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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