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Oxygen Scavenger Global Market Report 2022
Major players in the oxygen scavenger market are Mitsubishi Gas Chemical Company Inc. , BASF SE, Clariant, Ecolab, Accepta Ltd. , Arkema Group, Eastman Chemical Company, PolyOne Corporation, Henkel AG & Co.
New York, June 10, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Oxygen Scavenger Global Market Report 2022" - https://www.reportlinker.com/p06284327/?utm_source=GNW
KGaA, Lonza, Aditya Birla Chemicals, ESSECO UK LIMITED, Kuraray Co. Ltd., MCC Chemicals, DOW Chemical Company, Conventya Inc., and Chemco Industries Inc.
The global oxygen scavengers’ market is expected to grow from $2.03 billion in 2021 to $2.22 billion in 2022 at a compound annual growth rate (CAGR) of 9.4%. The oxygen scavengers market is expected to reach $2.81 billion in 2026 at a CAGR of 6.1%.
The oxygen scavengers market consists of sales of oxygen scavengers by entities (organizations, sole traders, and partnerships) that are used to reduce or completely remove oxygen in fluids and enclosed spaces to stop oxygen-induced corrosion.Oxygen scavengers are chemical substances that are also called oxygen absorbers.
Oxygen scavengers increase the period of service life of the components under protection.
The main types of oxygen scavengers are metallic and non-metallic.Non-metallic oxygen scavengers use organic reducing agents such as water-soluble vitamins, ascorbate salts, or catechol.
The different forms include sachets, canisters, bottle caps and labels, OS films and pet bottles, liquid form, and powder form. The several compositions include organic and inorganic and are used in various areas such as food and beverage, pharmaceutical, power, oil and gas, chemical, and pulp and paper.
North America was the largest region in the oxygen scavenger market in 2021.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.
Increasing demand from the food and beverage industry is expected to propel the growth of the oxygen scavengers market going forward.The food industry involves the production, processing, preparation, conversion, preservation, and packaging of foodstuffs.
Oxygen scavengers are added to the foods and beverages to reduce or completely remove dissolved oxygen to extend shelf life and maintain the original food quality.For instance, according to the Food Industry Association (FMI), in 2020 the food and beverage business has surpassed the health and beauty industry as the largest consumer packaged goods (CPG) segment (44%).
Therefore, the increased demand from the food and beverage industry is driving the oxygen scavenger market growth.
The introduction of new oxygen scavenger additives for polyester packaging has emerged as a key trend gaining popularity in the oxygen scavenger market.Major companies operating in the oxygen scavenger are focused on developing new additives for polyester packaging to meet consumer demand and reinforce their position.
For instance, in October 2019, Clariant, a Switzerland-based specialty chemicals company launched CESA ProTect, a new line of patent-protected oxygen scavenger additive masterbatches.The novel additive masterbatch’s main target market is monolayer polyethylene terephthalate (PET) packaging, but it could also be useful for other polyester-based materials.
CESA ProTect masterbatch can hold less than 1ppm oxygen levels for more than 18 months. It is suitable for refrigerated products and cold chain distribution.
In July 2020, PolyOne Corporation, a US-based polymer materials manufacturing company acquired Clariant and Clariant Chemicals India Ltd.’s color masterbatch business in Germany for an undisclosed amount. With this acquisition, the two global leaders will form Avient, a firm that will focus on being a great place to work while also providing clients with long-term solutions. Clariant is a Switzerland-based specialty chemicals company that manufactures oxygen scavengers.
The countries covered in the oxygen scavenger market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06284327/?utm_source=GNW
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