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 Propellants Market -http://www.grandviewresearch.com/industry-analysis/aerosol-propellants-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
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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.
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