The global aerosol propellant market size is expected to reach USD 11.04
billion by 2025, as per a new report by Grand View Research Inc. It is
anticipated to expand at a CAGR of 5.2% during the forecast period. Rising
demand for aerosol products, such as hair sprays, antiperspirants, room
fresheners, and deodorants is expected to fuel the growth. In addition,
increasing application in cosmetics is predicted to fuel the product demand.
Europe led the market in
the previous years and is expected to grow considerably in near future due to
the presence of robust cosmetics manufacturing base in France, Germany, Spain,
and U.K. Nonetheless, restricted use of CFC, HCFC, and HFC is expected to limit
the demand for aerosol propellants over the forecast period.
North America emerged as the second largest
market and is expected to grow significantly in future due to high demand from
automobile industry in Mexico and U.S. Asia Pacific leads the market owing to
growth of automotive and construction industry. Increasing demand for personal
care products from millennials is anticipated to have a positive impact on the
market growth.
The factors such as growing home furnishing
sector due to rising urbanization, demand for furniture from Middle Eastern
countries, and adoption in cleaning application are anticipated to fuel the
product demand. Moreover, introduction of advanced products across various
application industries is expected to drive the market growth.
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https://www.grandviewresearch.com/industry-analysis/aerosol-propellants-market
https://www.grandviewresearch.com/industry-analysis/aerosol-propellants-market
Further key findings from the report suggest:
· Personal care application accounted for
34.3% of the overall market share in terms of revenue in 2018 on account of
high existing penetration of the product in cosmetics and body care products
· Demand for hydrocarbon based products is
expected to account for USD 8.79 Billion by 2025 on account of high penetration
in the pharmaceutical industry due to non-reactivity, low toxicity, and
environment-friendly nature of the product
· Europe aerosol propellant market is projected
to expand at a CAGR of 4.3% from 2019 to 2025, due to increased applications in
industries such as paints and coatings, households, and medical
· North America accounted for 28.1% of the
global market share in 2018 and is expected to exhibit notable gains over the
forecast period on account of the high adoption of the product in U.S., Canada,
and Mexico
· Key market players are focused on new
product developments, especially in shaving creams and deodorants for
strengthening their market presence, which will ultimately promote the industry
growth
Grand View Research has segmented the
global aerosol propellants market on the basis of product, application, and
region:
Aerosol Propellant Product Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
Hydrocarbons
·
Nitrous Oxide and Carbon Dioxide
·
DME and Methyl Ethyl Ether
·
Others
Aerosol Propellant Application Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Household
·
Personal Care
·
Paints & Coatings
·
Medical
·
Automotive & Industrial
·
Foods
·
Others
Aerosol Propellant Region Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
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.
