Growing Manufacturing Industry Driving India Industrial Aerosol Industry Growth

The Indian industrial aerosol market value stood at $70.95 million in 2019, and it is expected to surge to $115.85 million by 2030. Furthermore, the market will advance at a CAGR of 5.6% from 2020 to 2030 (forecast period), as per the market research firm, P&S Intelligence. The major factors propelling the market are the surging requirement for aerosols in automobile manufacturing plants and the automobile aftermarket, booming manufacturing industry, and increasing implementation of government initiatives for augmenting research and development (R&D) activities in the country's manufacturing industry.

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With the surging manufacturing and sales of commercial vehicles, passenger cars, two-wheelers, quadracycles, and three-wheelers, the requirement for industrial aerosols is rising sharply. As per the Society of Indian Automobile Manufacturers (SIAM), 30,915,420 vehicles were manufactured in India in 2018-19, which registered an increment of 6.3% from the number of vehicles manufactured during the previous year (29,094,447). Likewise, as per the India Brand Equity Foundation (IBEF), the demand for automobiles will surge in the country in the coming years, because of the soaring population of young people and surging income of the middle-class populace in the country.

Another major Indian industrial aerosol market growth driver is the booming manufacturing sector in the country. The IBEF reports that the manufacturing sector in the country is expanding rapidly, owing to the burgeoning requirement for consumer devices and electronic appliances and electrical machinery and equipment. Additionally, as per the Ministry of Commerce and Industry, the cosmetics and beauty products industry has surged sharply in the country over the last few years, owing to the increasing per capita and disposable income of people.

The Indian industrial aerosol market is divided, depending on application, into cleaning, spray paints, and maintenance. Out of these, the spray paints category held the largest share in the market in the years gone by, and this trend is predicted to continue in the coming years as well. This is credited to the flourishing automotive aftermarket, because of the soaring purchasing power of people, in the country. The market is currently fragmented in nature, with the existence of players, such as Aerosol Specialities (India), Pidilite Industries Limited, S. S. Aerosols Pvt. Ltd., Zenith Spray And Aerosols Private Limited, Aerol Formulations Private Limited, and PRIME AEROSOLS.

In recent years, the players operating in the Indian industrial aerosol market have focused on product launches in order to gain an edge over their rivals. For example, 3M Company launched the 3M Scotchkote Polytech Exp RG700, which is an anti-heat solution for the Indian Railways, in May 2020. This is basically a solar-reflective layer that mitigates the heat inside a building or an enclosure, and it can be easily applied on various metallic and non-metallic substrates. Similarly, CRC Industries Inc. launched OZZYJUICE SW-X1, which is a new degreasing solution, in November 2019.

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Hence, the market will grow substantially in the coming years, primarily because of the growing requirement for industrial aerosols in automobile manufacturing plants and booming manufacturing sector in the country.

Browse more reports:

Global Aerosol Industry Report - https://www.psmarketresearch.com/press-release/aerosol-market

India Aerosol Industry Report - https://www.psmarketresearch.com/press-release/aerosol-market-india

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