PUBLISHER: Allied Market Research | PRODUCT CODE: 1239579
PUBLISHER: Allied Market Research | PRODUCT CODE: 1239579
The deoxidizer market valued for $2.8 billion in 2021 and is estimated to reach $4.7 billion by 2031, exhibiting a CAGR of 5.5% from 2022 to 2031.
Deoxidizer is used in metallurgy to remove the oxygen content during steel manufacturing which is important in the steelmaking process as oxygen is often detrimental to the quality of steel produced. The procedure involves adding materials with a high affinity for oxygen, the oxides of which are either gaseous or readily form slags. Deoxidizer in food packages is used to prevent color change and infestation which helps maintaining food quality, such as delaying discoloration and darkening fruits. Deoxidizer also maintains the quality of polyunsaturated fats and oils and prevents food from going rancid. Oxygen absorbers effectively reduce the aerobic environment down to 0.01% oxygen by absorbing most of the oxygen in the packaging. This inhibits the growth of any microorganisms or fungi in food products such as dairy, pastries, nuts, and fish. Oxygen absorbers also help extend the shelf-life of pharmaceutical products and minimize the need for some preservatives.
Deoxidizer is a chemical that removes oxygen from containers to increase shelf life and reduce off-flavors. It is regarded as the finest long-term storage method for dry staples, as it helps in the preservation of product quality. It is also*utilized in high-oil-content products such as nuts, seeds, and whole grains, which have a shorter shelf life than other items.
The deoxidizer market is segmented into form, type, application, and region. On the basis of form, the market is divided into powder, solution, and others. On the basis of type, the market is categorized into metallic and non-metallic. On the basis of application, the market is categorized into food & beverage, pharmaceutical, water treatment, oil & gas, chemical, pulp & paper and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights key areas of investment. In addition, it includes Porter's five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. Value chain analysis for this industry, which includes R&D, components manufacturers, assembly, programming & testing, marketing & sales, customers, and post-sales services, is explained. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.
In addition, the report covers profiles of key industry participants such as Arkema, Avient, Chemfax, Clariant, Ecolab Inc., Guardian Chemicals Inc., Henkel Corporation, Hydrite Chemical, Sealed Air Corporation, and Thermax Limited. These players have adopted several strategies to propel the demand for deoxidizer during the forecast period.