Press release
AEROSOL PROPELLANTS MARKET 2019 SHARE, SIZE, REGIONAL TREND, FUTURE GROWTH, LEADING PLAYERS UPDATES, INDUSTRY DEMAND, CURRENT AND FUTURE PLANS BY FORECAST TO 2024
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Global Aerosol propellants market size is estimated to surpass 14.5 million tons by 2024, at a CAGR of around 4.5% over the period of 2018-2024. Growing demand across personal care products such as deodorants, shampoos, body sprays, etc., increasing application in the automotive industry, and rising infrastructural spending are the major factors likely to drive the industry growth over the coming eight years.
Segments Covered in this Report:
Aerosol Propellants Market Forecast By Product
Hydrocarbons
Dimethyl ether (DME) and methyl ethyl ether
Nitrous oxide and carbon dioxide
Others
Aerosol Propellants Market Analysis By Application
Personal Care
Househols
Automotive & Industrial
Foods
Paints
Medical
Others
However, environmental and health hazards pertaining to the use of these products may hamper the industry growth over the forecast timeframe. The focus is shifting towards lower VOC content based propellants such as hydrocarbons which minimizes the risks of global warming due to null ozone depletion potential and lower atmospheric residual time.
The market is segmented in terms of products, applications, and regions.
Aerosol propellants product market comprises DME & Methyl Ethyl Ether, Hydrocarbons, Nitrous Oxide & Carbon Dioxide.
Hydrocarbon propellants dominated the product landscape with a revenue of approximately over USD 16.5 billion in 2017. The segment will continue to grow significantly over the forecast timeframe owing to its properties such as low toxicity, high stability, and cost-effectiveness.
DME & Methyl Ethyl ether market is estimated to record a CAGR of around 5% over 2018-2024. The segment growth can be attributed to its extensive use in hair sprays and spray paints owing to its high solvency properties.
Nitrous oxide & carbon dioxide product segment is predicted to witness moderate growth over the forecast timeframe primarily driven by their applications in dispensing ointments, creams, food products, etc.
Application market includes Household, Foods, Personal Care, Medical, Automotive & Industrial, and Paints.
Aerosol propellant market size in personal care industry accounted for a volume of over 4 million units in 2017, and is estimated to cross around 6 million units by 2024, at a CAGR of around 4%. Increasing application in personal care products such as skin care creams, deodorants, antiperspirants, etc. is estimated to fuel the market growth.
Automotive & Industrial application is forecast to grow at a CAGR of around 4.5% over 2018-2024.Rising demand for adhesives & sealants and lubricants in the automotive industry is likely to drive the segment growth.
Aerosol propellants application in the food industry is projected to register a CAGR of 5.2% from 2016-2024.
Household application segment, which accounted for over 6% of the overall share in 2017, will also witness noticeable growth in the coming years, owing to its extensive use in shoe polish, pre-wash sprays, cleaning agents, stain removers, air fresheners, anti-static sprays, disinfectants, etc.
The regional segment covers North America, Asia Pacific, Europe, Latin America, and MEA.
Europe dominated the global market with a revenue of over USD 7.9 billion in 2017, and is estimated to grow substantially over the forecast timeframe. Large presence of cosmetic companies in countries such as UK, Spain, Germany, and France is likely to drive the regional growth over the forecast timeframe.
North America Market will also witness a significant surge over the coming years, mainly driven by the expansion of automobile industry across this region.
Browse key industry insights along with Table of Content @ https://www.graphicalresearch.com/industry-insights/1052/global-aerosol-propellants-market
Asia Pacific market is estimated to grow at a CAGR of around 5.5% over 2018-2024. The growth can be attributed to the increasing infrastructure spending coupled with the rise in the automobile industry across this region. India and China are estimated to be the major revenue pockets.
Key industry participants include Honeywell, DuPont, Covestro, Lapolla Industries, Inc., AkzoNobel, Aveflor, Harp International, and Aeropres Corp.
Related Reports:
Apac Controlled Release Fertilizer Market : https://www.reuters.com/brandfeatures/venture-capital/article?id=151491
Middle East And Africa Marine Coatings Market : https://www.reuters.com/brandfeatures/venture-capital/article?id=152792
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Graphical Research
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Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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