Oxygen Scavenger Market Is Anticipated To Transcend A Revenue Valuation Of US$ 3.6 Billion By 2032

The market for oxygen scavengers is currently valued at US$ 2.2 billion in revenue and is anticipated to grow to US$ 3.6 billion by the end of 2032.

Oxygen scavenger suppliers are launching new products to improve their revenue generation capacity and gain a competitive advantage over other market players.

• In September 2020, Avient, a specialized materials manufacturer introduced a new oxygen scavenger at Medtec China 2020. MEVOPUR ProTect oxygen scavenger limits oxygen degradation of nutraceuticals and drugs that are stored in PET bottles.

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Over the next few years, it is anticipated that shifting consumer preferences, expanding urbanisation, and a rise in the need for packaged foods would significantly increase oxygen scavenger sales.

The expanding range of oxygen scavenger applications in a number of industry sectors, including pharmaceuticals, chemicals, and oil & gas, is also anticipated to fuel market expansion over the course of the projection year. Over the future years, it is anticipated that increasing expenditures in the development of active packaging solutions would produce a highly favourable market environment.

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• BASF SE
• Baker Hughes
• Innospec Inc.
• Arkema Group
• Clariant
• Solvay America Inc.
• Kemira
• Coventya
• Lubchem
• Mitsubishi Gas Chemical Company Inc.
• Solenis
• SUEZ
• Accepta Ltd.
• Sealed Air Corporation
• Ricmar Industries

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• Consumption of oxygen scavengers in China is forecasted to increase at a 6.7% CAGR through 2032.
• Sales of metallic oxygen scavengers are estimated to attain a value of US$ 1.8 billion by the end of 2032.
• The global oxygen scavengers market is valued at US$ 2.2 billion in 2022.
• Over the next ten years, demand for oxygen scavengers is predicted to rise at a 5% CAGR.
• By 2032-end, oxygen scavenger sales are slated to accumulate a revenue value of US$ 3.6 billion.
• Increasing investments in the oil & gas industry, rising demand for convenience foods, growing disposable income, increasing population, and changing consumer preferences are prime factors that boost market growth.
• The non-volatile nature of oxygen scavengers and health risks associated with prolonged exposure are expected to inhibit market growth in the coming years.

"Increasing investments in the expansion of the manufacturing sector in Asia Pacific are projected to provide lucrative opportunities for oxygen scavenger suppliers going forward," says a Fact.MR analyst

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Oxygen scavenger manufacturers are investing in the research and development of novel products and increasing the frequency of product launches to cash in the rising demand from several industry verticals. Market players are also expected to eye collaborations, mergers, and partnerships to improve their market presence.
A comprehensive account of all strategies adopted by major and minor companies has been listed in this latest oxygen scavengers industry survey by Fact.MR, a market research and competitive intelligence provider.

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• By Type:
o Organic
o Inorganic

• By Material:
o Metallic
o Non-metallic

• By End-use Industry:
o Food & Beverages
o Pharmaceuticals
o Power
o Oil & Gas
o Chemicals
o Pulp & Paper
o Other Industries

• By Region:
o North America
o Latin America
o Europe
o APAC
o MEA

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COVID- Impact analysis- The report includes details of the impact of the pandemic on the Oxygen Scavengers market further including insights on the pre-COVID situation. Additionally, this report benefits in terms of post-COVID recovery prospects, changing consumer demands, and buying patterns valuable for Oxygen Scavengers companies.
Industrial trend analysis- The research covers recent trends in the field of Oxygen Scavengers which are augmented with the applicable technologies and shifts in industrial processes. The scope for digital and industrial technologies is discussed in order to help client firms to understand the benefits and risks included in light of market trends.
Oxygen Scavengers Sustainability metrics- The rising concerns of environmentally friendly production and consumption are taken to next level in this research, as research is focused on emerging methods of ensuring sustainability. These insights include climate-friendly initiatives adopted by some players in the industry. Furthermore, details of manufacturers’ impact on carbon footprint are evaluated intend to make clients aware of their contribution to sustainable development goals.

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