India Industrial Aerosol Market Growth Opportunities and Recent Trends by Leading Manufacturers WD-40 Company, Pidilite Industries Limited, Twin Tech India Pvt. Ltd., Aerol Formulations Private Limited, Bans Aerosol Private Limited, PRIME AEROSOLS, Renuka

The Indian industrial aerosol market is predicted to reach 86.1 million units by 2024, registering a CAGR of 5.1% during the forecast period (2019–2024), from 66.1 million units in 2018. The major drivers of the market are the growth in the Indian manufacturing industry and rising demand for aerosols in automobile manufacturing. Aerosols are liquid or solid microscopic particles, which are made of numerous man-made or natural substance and are suspended in the atmosphere. For industrial purposes, special aerosols are used, which are stored in a container under high pressure.

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Based on cleaning, the Indian industrial aerosol market is categorized into electronics, carpet, tire, engine cleaners, and others. In 2018, the highest sales volumes of 6.9 million units was witnessed by the engine cleaners category. This was ascribed to the surging demand for cleaners in various automotive engine parts and industrial machinery. Further, due to the deep foaming penetration action and sturdy stream of aerosol cleaners, they are used for removing dirt, oil, and grime from engines without dissembling them, which cannot be done with traditional cleaners.

The Indian industrial aerosol market is classified into silicone, anti-fog, de-icer, and others, which include pesticides, aerosol lubricants and adhesives, and insecticides. With the sale of 13.2 million units, the highest demand in the market in 2018 was for the silicone aerosol products. The classification is further expected to register the highest CAGR of 5.0% during the forecast period. This impressive growth can be attributed to the applications of silicone products for lubrication, corrosion resistance, and help in mold releasing.

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The Indian industrial aerosol market is witnessing growth due to the remarkable performance of the manufacturing industry in the country. As per the India Brand Equity Foundation, the Indian manufacturing industry is witnessing an impressive growth. One example is of the rising demand for consumer devices and appliances, which is expected to register a CAGR of 9.0% during 2019–2022. This indicates the prosperity industries are experiencing, which, in turn, is resulting in the high demand for industrial aerosols, as they help in the maintenance of production facilities.

One of the major drivers of the Indian industrial aerosol market are the progressing automobile manufacturing and aftermarket in the nation. This is attributed to the strong domestic automotive aftermarket which grew at a 14% CAGR during the 2014–2018 in the country. The automobile aftermarket applications of aerosols include friction and wear reduction in vehicle parts, puncture repairing, and fixing of paints, and vehicle polishing. Besides automobile manufacturing, the high domestic sales volume of vehicles has also boosted the demand for industrial aerosols in the country.

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The growth in the micro, small, and medium enterprises (MSME) in the country can be a huge opportunity for the Indian industrial aerosol market for generating higher revenue. About 33.4% of India’s manufacturing output is contributed by MSMEs, as mentioned by the Confederation of Indian Industry. These enterprises traditionally used general cleaning products, such as detergent liquids or powders. Owing to the benefits of industrial aerosols, manufacturers across various industries are now procuring these, thereby providing industrial aerosol manufacturers an opportunity to generate revenue.

Therefore, the market for industrial aerosols in the country is predicted to witness significant growth in the forecast period due to their rising applications in equipment maintenance in several Indian industries, including automotive.

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This release was published on openPR.