Aerosol Propellants Market Trends, Growth Prospects To 2030: Grand View Research Inc.

 Aerosol Propellants Market Growth & Trends

The global aerosol propellants market size is expected to reach USD 15.54 billion by 2030 and is expected to expand at 6.4% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth is majorly driven by the rising utilization of deodorants, hair sprays, hair mousse, dry shampoos, insecticides, air fresheners, and cleaning products. Additionally, macroeconomic factors such as the rising disposable income of consumers are anticipated to result in an increased demand for cosmetics and personal care products.

Hydrocarbons are widely used in pharmaceutical aerosols on account of their low toxicity, low cost, and non-reactivity, making them environmentally friendly. In addition, they do not contain halogen, which makes them excellent propellants or water-based aerosols. Thus, positively impacting their demand during the forecast period.

In Europe, aerosol propellants are extensively used in household products including air fresheners, fabric care products, waxes & polishes, and kitchen cleaning products among others. High awareness among consumers regarding cleanliness has resulted in substantial demand for aerosols. Furthermore, rising awareness concerning general well-being and the early treatment of respiratory illnesses are likely to result in high demand for inhalers with aerosols as they offer quick relief to patients.

Most industry participants invest in differentiating themselves from other players as the market is fragmented and competitive. Manufacturers of aerosol propellants continue to base their products on elements such as hydrocarbons, dim ethyl ether (DME), nitrous oxide, and carbon dioxide amongst others. Furthermore, these manufacturers are continuously engaged with third-party distributors along with setting up joint ventures in high-growth end-markets. Through these operational integrations, manufacturers are trying to reach out to potential customers of aerosol propellants.

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Aerosol Propellants Market Report Highlights

• The DME and methyl ethyl ether is expected to be the fastest-growing type segment with a CAGR of 8.2% over the forecast period, on account of high solvency, chemical stability, low toxicity, and water miscibility, making them useful in several products such as paints and hair sprays
• The household application segment is anticipated to witness the fastest CAGR of 7.3% during the forecast period, owing to the increasing disposable income and rising significance of aromatherapy
• Asia Pacific is projected to expand at the fastest CAGR of 7.8% during the forecast period, due to the increasing air freshener consumption in India and China owing to developing infrastructure and the automotive industry
• Supply chain disruptions, including the lack of ability to source ingredients and raw materials from third parties, have enforced significant challenges and are influencing both financial and operational performance, especially in the U.S., India, and Brazil. Automotive, paints, and personal care markets are under pressure owing to store closure and declining social lives
• Numerous companies have introduced propellants that emit low VOCs and comply with air quality standards for household, consumer, and industrial applications. Honeywell launched a new propellant named, ‘Solstice’, which is non-flammable, results in zero ozone depletion, and promises to be a low global warming potential (GWP) propellant, in the market

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Aerosol Propellants Market Segmentation

Grand View Research has segmented the global aerosol propellants market based on product, application, and region:

Aerosol Propellants Product Outlook (Volume, Kilotons, Revenue, USD Million, 2018 - 2030)

• Hydrocarbons
• DME
• Nitrous Oxide and Carbon Dioxide
• Others

Aerosol Propellants Application Outlook (Volume, Kilotons, Revenue, USD Million, 2018 - 2030)

• Personal Care
• Households
• Automotive and Industrial
• Foods
• Paints and Coatings
• Medical
• Others

Aerosol Propellants Regional Outlook (Volume, Kilotons, Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • Italy
  • France
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • South Africa

List of Key Players in the Aerosol Propellants Market

• Royal Dutch Shell
• Brothers Gas
• The Chemours Company
• Harp International Ltd
• Nouryon
• Mitsubishi Gas Chemical Company, Inc.
• AVEFLOR, a.s
• DuPont de Nemours, Inc
• Honeywell International Inc.
• Aeropres Corporation
• BOC Limited
• Emirates Gas
• National Gas Company SAOG

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.