Global Aerosol Propellants Market Size, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Aerosol Propellants Market


The global Aerosol Propellants market size is projected to reach US$ 11.61 billion by 2026, from US$ 8.57 billion in 2020, at a CAGR of 5.2% during 2021-2026. Increasing demand for aerosol products, such as air fresheners, paints, and deodorants is expected to be the primary factor contributing to the growth. Furthermore, growing product application in personal care products is expected to fuel the demand.

Increasing adoption of the aerosol-based in cosmetics, pharmaceuticals, and personal care products is likely to drive the growth. Growing skincare industry in emerging economies is also impelling the demand for aerosol propellants. Moreover, increasing demand for fragrances due to rise in the spending power of consumers is fueling the growth.

Growing automobile industry in U.S. and Mexico is predicted to fuel the product demand in the forthcoming years. Furthermore, growing construction and automotive sector in the emerging economies of Asia Pacific, such as India, China, and Malaysia are also expected to drive the demand for aerosol propellants. Latin America and Middle East and Africa are also expected to expand at a steady CAGR over the forecast period.

Europe led the market in the past and is expected to witness considerable growth in near future due to growing demand for such products in U.K. North America is also expected to witness substantial growth in the forthcoming years due to escalating demand for personal care products.

Inclination of emerging economies, such as India and China towards promoting favorable investments is anticipated to create growth opportunity for the aerosol propellants market. Moreover, innovations to introduce environment-friendly, economic, and low VOC products, is also predicted offer lucrative opportunities in near future.
Prohibition on the use of CFC and HFC in most parts of North America and Europe is restraining the market growth. Hydrocarbon propellants have zero ozone depletion potential and less atmospheric residence time. Hence, several health and environmental risks associated with the use of propellants in aerosol products are hampering the demand.

Market Segmentation, Outlook & Viewpoint: Global Aerosol Propellants Market

Product Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Hydrocarbons
  
Nitrous Oxide and Carbon Dioxide
  
DME and Methyl Ethyl Ether
  
Others

Application Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Household
  
Personal Care
  
Paints & Coatings
  
Medical
  
Automotive & Industrial
  
Foods
  
Others

Key Players, Recent Developments & Regional Insights: Global Aerosol Propellants Market

Hydrocarbons segment accounted for USD 6.28 billion in 2018 and is projected to expand at a CAGR of 4.9% from 2019 to 2025 due to high stability, less toxicity, and low cost of the product. In addition, hydrocarbons are ideally used for water-based products, since they do not comprise halogen group thereby accounting for a high product demand.

Hydrocarbons, such as propane, isobutene, ethane, and butane are either used as mixtures or alone, or combined with other gases to achieve the required vapor pressure, degree of flammability and density. Hydrocarbon propellants are used in pharmaceutical aerosols due to non-toxicity and non-reactivity, and eco-friendly nature, leading to acceptance and growing demand.

DME and methyl ether segment accounted for 9.8% of the global market in 2018 and is anticipated to expand at a CAGR of 4.9% in near future owing to various advantages including water miscibility, solvency, and chemical stability, making it ideal for application in hairsprays and paint sprays.

Low price of DME coupled with low toxicity and eco-friendly nature is expected to drive the growth during the forecast period. Furthermore, high demand for air fresheners and cosmetic products coupled with increasing use for the manufacturing of these products is anticipated to propel the market expansion in the years to come.

Application Insights

Personal care industry accounted for 34.3% of the global market share in 2018 and is anticipated to expand at a CAGR of 4.8% from 2019 to 2025. Rise in health issues and demand for hygiene products, such as infant care, deodorants, skin care, hair care products, and antiperspirants are few factors propelling the growth.
Aerosol propellants are used in personal care products, such as antiperspirants, deodorants, and hair sprays. Hence, escalating demand on the global scale is driving the segment growth. High demand for deodorants due to increasing spending power of consumers is expected to augment the demand from personal care industry.

Household segment was estimated at USD 2.72 in 2018 due to increasing applications in stain removers, starch, fabrics and household surfaces, water repellents for leather and fabric, and anti-static sprays and air fresheners, among others. Speedy globalization and growing well-organized retail industry are propelling the demand for these products.

Growing awareness regarding hygiene and booming home furnishing market is expected to augment the demand for aerosol propellants in household application. Rising usage of insect repellents and air fresheners is also driving the market. Additionally, high demand for deodorants and shaving creams among younger population in developing economies is impelling the market.

Easy availability of raw material impacts the production and price of aerosol propellants. Presence of natural gas reserves is expected to increase the production of hydrocarbons including butane, propane, and isobutene, thereby driving the market. Moreover, ban on CFC by European economies is leading to increased use of hydrocarbons and DME.

Increasing acceptance of DME by emerging economies, due to its low toxicity and economic pricing is expected to propel the market growth. Furthermore, increasing use of DME in solvents and water-based systems is predicted to drive the demand. Increasing applications of DME for hair spray and paint application is also expected to drive the growth.

Regional Insights

Europe accounted for USD 2.49 billion in 2018 and is expected to expand at a CAGR of 5.0% from 2019 to 2025 due to the presence of robust manufacturing base of cosmetic products in economies, such as U.K., Germany, Spain, and France. Furthermore, increasing use of make-up products by women aged 18 to 25 is expected to drive the regional market. Europe holds significant share of global home furnishing market, which is expected to positively impact the growth. Moreover, availability and fluctuation in raw materials prices, such as methanol and natural gas is expected to influence the aerosol propellants pricing.

North America is expected to register notable gains over the forecast period due to growing scope of application in the automotive industry, especially in U.S. and Mexico. In addition, high adoption of aerosol products in the region is expected to benefit the market expansion. Moreover, presence of key market players is also propelling the region market growth.
Aerosol Propellants Market Share Insights

The key companies in the industry are focused on new product developments in deodorants and shaving creams, which will ultimately promote revenue generation. Growing automobile production is expected to propel the demand for paints and coatings, which is expected to augment the product demand during the forecast period.
The market players compete with one another on the basis of product and price and operate direct and third party-based distribution channels with their clients. The major players are involved in the development of advanced product formulations in a bid to increase the market share and sales.

Key Insights Covered: Global Aerosol Propellants Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Aerosol Propellants industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Aerosol Propellants industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Aerosol Propellants industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Aerosol Propellants industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Aerosol Propellants industry.

Research Methodology: Global Aerosol Propellants Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other