Indian Industrial Aerosol Market Propelled by Growing Manufacturing Sector

The Indian industrial aerosol market is being driven by the rising usage of spray-on maintenance and cleaning products in the electrical and electronics,automotive, and healthcare equipment manufacturing sectors. The market is predicted to progress from a sales volume of 66.1million units in 2018 to 86.1 million units in 2024. Between 2019 and 2024, the sales of such products would increase at a CAGR of 5.1%. Aerosols contain a mist of liquid particles suspended in air, which are released via a high-pressure propellant.

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On the basis of application, the industrial aerosol market in India is categorized into paints, cleaning, and maintenance. Among these, paints dominated the market during 2014-2018, in terms of volume. This was a direct result of the growing automotive production and repair niches, where such products are utilized for painting or repainting. In addition to their aesthetic value in the automotive sector, aerosolized paints are also used to protect industrial machinery from rusting and corrosion.

India is witnessing strong economic growth, led by the prosperity of the manufacturing sector. This is mirrored by the rising demand for various appliances and consumer goods, as a result of the increasing disposable income of people. Similarly, the requirement for electrical as well as medical equipment is also rising, which is further giving a boost to the Indian manufacturing niche. In addition, to make the country an aerospace hub, the government is offeringcustoms and countervailing duty exemption to aircraft manufacturing, repairing, and overhauling (MRO) companies. An important product in factories is industrial aerosols, which are used for maintenance, cleaning, and painting applications.

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A lucrative opportunity for the major players in the Indian industrial aerosol market is projected to come from the micro, small, and medium enterprises (MSME) in the coming years. As per the Confederation of Indian Industry, 33.4% of India's manufacturing output and 6.11% of the manufacturing gross domestic product (GDP) is contributed by MSMEs. Thus, as this sector increases its production capacity, its demand for aerosols is also predicted to surge.

India Industrial Aerosol Market Segmentation

Market Segmentation by Application

Cleaning
Engine cleaners
Tire cleaners
Carpet cleaners
Electronic cleaners
Others
Maintenance
De-Icer
Anti-Fog
Silicone
Others
Paints

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This release was published on openPR.