The global aerosol propellants market
size is expected to reach USD 11.28 billion by 2025, according to a new report
by Grand View Research, Inc. The market is expected to grow owing to increasing
adoption of the aerosol based household and personal care products primarily in
the developing economies including China, India, Indonesia, and Thailand.
applications
The aerosol propellants market growth
is primarily dependent on the availability of raw materials such as natural gas
and crude oil, with the prices of such gasses changing in accordance to the
price of the raw materials. The pricing of aerosol propellants is dependent on
the price of natural gas and crude oil that act as raw materials for the
extraction of the propellants.
Increasing production of natural gas
in North America and Asia Pacific is expected to drive the demand for the
product over the next nine years-. Increasing technological initiatives leading
to the production of advanced cans with the superior aesthetic appeal is
expected to lead to a growth in demand for such cans, leading to a growing
demand for propellants.
The industry is regulated by
stringent laws and regulations enacted against the usage of the products in the
cans. In addition, the industry is expected to benefit from the advent of
various technological advancements to produce low cost, low VOCs, and low GWP
products.
In depth research report
on Aerosol Propellant Market
Further key findings from
the report suggest:
·
Hydrocarbon propellants accounted for an overall share of
over 81% of the volume in 2015. High demand for environment-friendly
propellants coupled with the low price of the products leads to a high usage.
The segment is, however, expected to lose market share owing to the advent of
advanced formulations with superior performance characteristics such as
stability and no interaction with the container contents.
·
Personal care segment is expected to grow at a CAGR of
more than 3% from 2016 to 2025 on account of growing demand for deodorants,
mousses and hair sprays. The demand for the product is expected to rise on
account of rising awareness regarding the use of beauty enhancing products
primarily in Asia Pacific and Central & South America. Also, demand for
shaving foams and hair styling products primarily on account of increased
acceptance of such beauty enhancing products is likely to drive market growth.
·
The market in Europe is expected to account for over 32%
of the global revenue due to high demand for the cans in the household and
personal care applications. High demand for the product for automotive cleaners
and paints is expected to drive the demand for the product over the forecast
period.
·
Major manufacturers in the domain resort to high
expenditures for research and development of advanced propellant formulations
in a bid to increase their market share. The development of highly advanced
products such as Solstice, by Honeywell International Inc., that exhibits
superior properties such as non-inflammability, zero ozone depletion, and low
global warming potential is expected to drive the growth.
Grand View Research has segmented the
global aerosol propellant market on the basis of product, application, and
region:
Product
Outlook (Volume, Kilo tons; Revenue, USD Million, 2014 - 2025)
·
Hydrocarbons
·
Dimethyl Ether (DME) & Methyl Ethyl Ether
·
Nitrous Oxide and Carbon dioxide
·
Others
Application Outlook
(Volume, Kilo tons; Revenue, USD Million, 2014 - 2025)
·
Personal Care
·
Household
·
Automotive & Industrial
·
Food
·
Paints
·
Medical
·
Others
Regional
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
India
·
Latin America
o
Brazil
·
Middle East & Africa
Browse more research
reports of this category:
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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