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Aerosol Market 2023 Global Analysis, Opportunities and Forecast
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The global aerosol market is expected to witness positive growth over the forecast period due to growing application of aerosols in paints, medical products, food, adhesives and automotive. Rising demand for air care products along with personal care products such as shaving and depilatories, hair care products, skin care products and deodorants are expected to create positive impact on the market for aerosols.
Personal care is the largest application segment of aerosols globally, followed by household application segment. Increasing disposable income along with rising standard of living is fueling the usage of personal care and household products for better living. Increasing demand for household and personal care products is expected to have a positive impact on the aerosols market. Furthermore, another application area of aerosol as spray paints in construction and automobile industry. Moreover, asthma inhalers are one of the application areas for aerosols, but the presence of fluorocarbons named hydrofluoroalkanes (HFA) is expected to restrain the demand.
Europe dominated the aerosols market in 2014 in terms of volume followed by North America and Asia Pacific. Growing demand for personal care products is expected to contribute in the growing popularity of aerosols in UK, Germany, Spain and France across Europe. U.S. is leading the aerosols market in North America. Furthermore, Asia pacific is the fastest growing market for aerosols. Lenient regulatory scenario coupled with growing demand for personal and household products are driving the market for aerosols across Asia Pacific. Growing consciousness towards personal care and hygiene, aerosol market is expected to witness positive growth over the forecast period in China and India. Furthermore, stringent environmental rules and regulations by European Commission and Environmental Protection Agency towards restricting the application of HCFC, CFC and HFC components is one of the prime reasons behind the anticipated reduction in market share of Europe and North America by 2021. Increasing automobile production in Brazil, Mexico, Indonesia, Germany and China is expected to create a positive impact on the demand for aerosol. Urbanization coupled with technological development is boosting the use of aerosol in household and personal care products across Middle East.
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Some of the major players of aerosol market invest in research and development for better product quality. Furthermore, manufacturers focus on innovation and products development in the household and personal care product segments. Some of the key players operating in the aerosol market are Proctor & Gamble, Unilever PLC, Henkel AG, Reckitt Benckiser Group plc, S. C. Johnson & Son, Inc., Thymes, LLC, Crabtree & Evelyn, Ltd. and AkzoNobel N.V. among others. Mergers and acquisitions are also one of the business strategies of major companies in order to strengthen their foothold in the industry.
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