The Global Aerosol Propellant Market is projected to reach USD 10.48 billion by 2028, at a CAGR of 4.8% during the forecast period.
Global Aerosol Propellant Market
Very fine particles of liquid or solid substances suspended in air are called Aerosols. Fog, for example, is a normal aerosol. In aerosol packaging, propellants are responsible for developing proper pressure within the container which provides the driving force to expel the product from the container. The rise in disposable income, rapid urbanization, and increasing health awareness have changed the lifestyle of consumers in developed and developing regions. Owing to the rising demand in numerous personal care applications including skincare, hair care, antiperspirants, deodorants, etc., there is increasing adoption of aerosol propellants. Many organizations are also facilitating the adoption of some eco-friendly aerosol propellants. For example, considering the zero risks toward ozone layer depletion, the US Environmental Protection Agency (EPA) has permitted the use of hydrocarbon aerosol propellants. Moreover, the increasing population of aged individuals is expected to boost the aerosol propellant market due to the rising consumption of anti-aging cosmetics containing aerosol propellants. Because of continued adverse effects on health and environment over the years, EPA has imposed several regulations and restrictions on the manufacturing and usage of various aerosol propellants including hydrochlorofluorocarbon (HCF), Dimethyl Ether (DME), in turn, limiting the growth of the global aerosol propellant market.
Based on the application, the personal care industry accounted for the biggest share and is anticipated to expand during the forecast period. The rise in health issues and demand for hygiene products, such as infant care, deodorants, skin care, hair care products, and antiperspirants are few factors propelling the growth. Aerosol propellants are used in personal care products, such as antiperspirants, deodorants, and hair sprays. Hence, escalating demand on the global scale is driving the segment growth. High demand for deodorants due to the increasing spending power of consumers is expected to augment the demand from the personal care industry. The household segment also due to increasing applications in stain removers, starch, fabrics and household surfaces, water repellents for leather and fabric, and anti-static sprays and air fresheners, among others. Speedy globalization and growing well-organized retail industry are propelling the demand for these products. Growing awareness regarding hygiene and booming home furnishing market is expected to augment the demand for aerosol propellants in the household application. Also, the rising demand for aerosol propellants in medical uses like inhalers is anticipated to boost the demand and growth of the worldwide aerosol propellant market during the forecast period.
The largest share in the aerosol propellant market belonged to Western Europe and is expected to continue doing so during the forecast period owing to the presence of many established players in the region, such as Akzo Nobel N.V. (Netherlands), Arkema Group (France), Akzo Nobel N.V. (Netherlands), Royal Dutch Shell Plc (Netherlands) and others. Europe’s large share can also be attributed to the vast personal care industry and demand from consumers. Factors including high cosmetics consumption, rapid growth in the fragrance industry, and rise in consumer spending are boosting the regional market growth.
Global Aerosol Propellant Market
The Asia Pacific region is expected to register the highest CAGR in the aerosol propellant market during the forecast period. This is due to the high population in the region and the rapid industrialization and urbanization leading to increased consumption of consumer goods.
Key Factors Impacting the Growth of Aerosol Propellant Market:
- Increasing concerns over the use of CFCs and HFCs
- Regulations on the use of Dimethyl Ether due to its poisonous characteristics
- Growing application base for Hydrocarbons worldwide
- High demand for personal care products due to increased personal spending
- Rising consumption of anti-aging cosmetics
Key Developments in the Aerosol Propellant Market:
- In January 2015, Honeywell announced to launch new solstice refrigerants. These new products increase Honeywell’s Solstice range of hydrofluoro-olefin (HFO) refrigerants, aerosol propellants & solvents and blowing agents. Solstice products provide less global warming potentials with the same or superior cooling performance as compared to previous-generation products
- In February 2019, Vanesa Care announced plans to set up its fourth manufacturing facility in India to tap the growing Asian market for personal care products
What Does This Report Provide?
This report provides a detailed understanding of the global aerosol propellant market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the aerosol propellant market.
- Food Products
- Personal Care
- Household Products
- Industrial & Technical
- North America
- By Country (US, Canada, Mexico)
- By Country (Germany, UK, France, Spain, Rest of Western Europe)
- By Country (Russia, Turkey, Rest of Eastern Europe)
- By Country (China, Japan, India, Rest of Asia Pacific)
- By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
- By Region (South America, Africa)
Companies Covered: Major Companies profiled in the report which are key players in the global aerosol propellant market include Reckitt Benckiser Group PLC, The Procter & Gamble Company, S.C. Johnson & Son Inc., Akzo Nobel N.V., Unilever PLC, Thymes LLC, Coster Tecnologie Speciali S.p.A., Honeywell International Inc., Colep Portugal S.A., Henkel AG & Co. KGaA, AkzoNobel NV, Ball Corporation, Crown Holdings Inc., Colep U.K. Ltd, Crabtree and Evelyn Ltd, Impress Group BV, Procter & Gamble, PPG Industries Inc., and Valspar Corporation.
Years Considered In The Study
CAGR % (2019-2028)
Reasons To Buy This Report:
- Market size estimation of the global aerosol propellant market on a regional and global basis.
- Unique research design for market size estimation and forecast.
- Profiling of major companies operating in the aerosol propellant market with key developments.
- Broad scope to cover all the possible segments helping every stakeholder in the market.
We provide customization of the study to meet specific requirements:
- By Segment
- By Sub-segment
- By Region/Country
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