Deoxidizer Market to Garner $4.7 Billion, Globally, By 2031 at 5.5% CAGR, Says Allied Market Research

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Feb 22, 2023, 10:31 ET

Growing demand from the pulp and paper industry drive the growth of the global Deoxidizer Market.

PORTLAND, Ore, Feb. 22, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Deoxidizer Market by Form (Powder, Solution, and Others), by Type (Metallic, Non-metallic) by Application (Food & Beverage, Pharmaceutical, Water Treatment, Oil & Gas, Chemical, Pulp & Paper, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031" According to the report, the global Deoxidizer industry generated $2.8 billion in 2021 and is estimated to reach $4.7 billion by 2031, witnessing a CAGR of 5.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

Drivers, Restraints, and Opportunities-

Increasing demand from the water treatment industry drives the growth of the global Deoxidizer Market. On the other hand, availability of substitute impede growth to some extent. However, growth in the pharmaceutical industry is expected to create lucrative opportunities in the industry.

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Covid-19 scenario-

The covid-19 pandemic has had a significant impact on the deoxidizer market, leading to a decline in demand for oil and gas. Deoxidizer is used to remove oxygen and prevent corrosion of steel pipelines.
Deoxidizer is increasing its demand in sachet packaging and water purification due to COVID-19 crises, leading to increased demand for oxygen absorbers to prolong shelf-life of perishable products.

The solution segment to rule the roost-

By form, the solution held the major share in 2021. The solution segment would showcase the fastest CAGR during the forecast period. Nitric-acid solution deoxidizers are primarily light-duty solutions and are widely used as de-smutting agents which are also used for salvaging parts, thus driving the segment growth.

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The metallic segment to maintain its dominance during the forecast period

By type, the metallic segment held the highest share in 2021. The non-metallic segment would showcase the fastest CAGR during the forecast period. Metallic deoxidizer is used for broad structural applications of semi-killed steel. Deoxidizer gas is developed in the body of the ingot, tending to compensate in part or totally for solidification shrinkage.

The food & beverage segment to maintain its dominance during the forecast period-

By application, the food & beverage segment contributed to the highest share in 2021. The food & beverage segment would also showcase the fastest CAGR throughout the forecast period. A deoxidizer is used in the food and beverage industry to remove oxygen from molten steel. This reduces oxidation and thus improves working conditions in a furnace by reducing the production of hot metal scale.

Asia-Pacific garnered the major share in 2021-

By region, Asia-Pacific garnered the highest share in 2021 and is projected to retain its dominance by 2031. The same region would also portray the fastest CAGR of during the forecast period. The deoxidizer are typically employed during packaging to stop spoilage, mold development, color change, rancidity, loss of nutritional content, and loss of overall product quality. The oxygen absorber in Asia-Pacific keeps the food's original quality while extending the product's shelf life.

Leading Market Players-

Arkema
Avient
Chemfax
Clariant
Ecolab Inc.
Guardian Chemicals Inc.
Henkel Corporation
Hydrite Chemical
Sealed Air Corporation
and Thermax Limited

The report analyzes these key players in the global deoxidizer Market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

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