The Global aerosol propellants market is projected to reach USD 16.42 Billion by 2032 The main growth driver is expected to be the increased demand for aerosol products, such as air fresheners, paints, and deodorants. Furthermore, the growing application of personal care products should be fuelling demand. Growth is expected to be led by increased aerosol use in cosmetics, pharmaceutical, and personal health care products. The rising demand for aerosol propellants is also boosting emerging economies' growing health care industry. However, the increasing demand for fragrances is promoting growth due to increased consumer purchasing strength.
In a positive outlook for personal care, home hygiene applications should drive market size. Consumption of perfumes and deodorants has significantly increased in recent years. The growing scope of use is expected to increase the growth and expansion of the market size of aerosol propellant in household formulations, which include insect repellents, disinfectants, and air fresheners. In the coming years, the growing automotive industry is expected to increase demand for products. However, rising demand for aerosol propellants is expected to drive the emerging economies' increasing construction and automotive market.
Factors like developing home decor sector as a result of increasing urbanization, demand for Middle Eastern furniture, and adoption in cleaning applications are expected to increase the demand for the product. Additionally, market growth is expected to be powered by the launch of advanced products through growing application industries.
The COVID-19 impact:
As the COVID-19 crisis grows, manufacturers are quickly changing their practice and purchasing priorities to meet the required demand of a pandemic. The COVID-19 pandemic would have a direct effect on the rates of catalyst development as the units of chemical manufacturing were disrupted. Furthermore, the disruptions in the existing supply chains force companies to build new supply chains that are more costly and time-consuming to satisfy the need for catalysts in different areas of the chemical industry, seeing an unprecedented level of operation.
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Further key findings from the report suggest
- The Personal Care segment accounts for the largest share of the aerosol propellant market. From a volume perspective, the personal care application segment holds the majority of the share.
- Expansion is due to the growing use of household goods, such as oven cleaners, air fresheners, bathroom cleaners, etc., an evolving lifestyle for customers and increased consumer buying power.
- Demand for hydrocarbon-based products is expected to increase during the forecast period due to the high penetration in the pharmaceutical industry due to the product 's lack of reactivity, low toxicity, and environmentally friendly nature.
- All the key market players have heavily invested in R&D initiatives in recent years, contributing to the invention of multiple innovative products. Major players aim to improve their product portfolio through strategic mergers and small and medium-sized enterprise acquisitions. So an intense rivalry among players is expected in the coming years.
- The European market for aerosol propellants is leading the industry, owing to the increasing applications in industries such as paints and coatings, households and healthcare.
- Key participants include Arkema Group, Royal Dutch Shell Plc, Akzo Nobel N.V., Honeywell International Inc., National Gas Company SAOG, The Chemours Company, Aveflor A.S., Aeropres Corporation, Grillo Werke AG, Emirates Gas LLC, BOC Industrial Gases U.K. and Company, Solvay, The Linde Group, SRF Limited, AlzChem AG and Yara International, among others.
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For the purpose of this study, Reports and Data have segmented the Aerosol Propellants market on the basis of propellant type, product type, application, and region:
Propellant Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2032)
- Liquefied Gas
- Compressed Gas
Product Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2032)
- Nitrous Oxide
- DME
- Hydrocarbons
- Others
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2032)
- Medical
- Automotive
- Paints & Coatings
- Personal Care
- Household
- Others
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2032)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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