Sunday, August, 25, 2019 02:50:14

By 2022, Aerosol Propellants Market Size Is Driven By Its Rising Demand In Automobile Industry Applications

Increase spray paints demand in construction and automobile applications should drive aerosol propellants market growth. Rise in infrastructure spending along with growth in automobile manufacturing in Brazil, India, Germany, Mexico, Indonesia, and China should propel industry growth.

Aerosol propellants market is poised to witness profitable growth prospects pertaining to the development of high quality propellant formulations and technologically improved product dispensing capacities. The application spectrum of global aerosol propellants industry is remarkably strong, as it encompasses the household, personal care, and automotive sectors. The surging product demand from the aforementioned professional domains across the globe will lead aerosol propellants industry to carve out a rather lucrative growth path. Having recorded a valuation of more than USD 18 billion in 2014, aerosol propellants industry is expected to hold a firm grip on its market capital with a significant growth rate of 5% over 2015-2022. An aerosol propellants industry report by Global Market Insights, Inc., estimates the global market valuation to reach USD 27 billion by 2022.

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The report covers in-depth analysis of the aerosol propellants industry on the regional scale. The market is witnessing substantial growth and is largely driven by regions, including North America, Europe and Asia-Pacific.  Growing demand for cosmetic products in Europe is projected to spur aerosol propellants market growth. Asia Pacific, the market is expected to witness a substantial growth with anticipated gains of 5.6% in the next seven years.

Aerosol Propellants Industry Insights

1    Industry segmentation

2    Industry size and growth prospects, 2012 – 2022

3    Industry ecosystem analysis

3.1    Supply Landscape

3.2    Production Landscape

4    Industry impact forces

5    Growth drivers

5.1.1    Increasing demand for aerosol products

5.1.2    Growth of aerosol consumption in personal care

5.1.3    Growing paints & coatings industry in Asia Pacific

5.2    Industry Pitfall & Challenges

5.2.1    Environment concerns

6    Growth potential analysis

7    Porter’s analysis

8    Company market share analysis, 2014

8.1    Strategic dashboard

9    PESTEL analysis

Amongst these, hydrocarbons, which are used for the product formulation, comprise propane, butane and isobutane. These hydrocarbons possess the advantages of low cost, low toxicity, and high stability, which has led to an increased product demand, thereby fueling aerosol propellants market share. Subject to the increasing penetration of hydrocarbons, it has been forecast that this segment will exceed a demand of over 11 kilo tons by 2022.

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Industry has witnessed a major upswing subject to the rapid technological developments including airless dispensers and Stahl Monoblock cans. This has substantially raised the product demand in medical applications, paints & coatings, and the household sector. Aerosol propellants find prominent applications in personal care products such as hair care, deodorants, infant care, skin care, and antiperspirants. Rise in the sales of personal hygiene products has led to aerosol propellant industry earning a substantial revenue of over USD 10 billion by 2022 from personal care applications. Nitrous oxide and carbon dioxide based aerosol propellants are majorly used in personal care product applications. Dimethyl ether & methyl ethyl based aerosol propellants market is estimated to generate revenue over USD 3 billion by 2022. The properties such as solvency and water miscibility of dimethyl ether has made aerosol propellants viable for spray paints and hairspray applications.

Aerosol propellants are also used in pre-wash sprays, cleaning agents, shoe polish, anti-static sprays, stain removers, disinfectants, and water repellents for leather & fabrics, all of which fall under household applications. Escalating use of these products for domestic purposes has augmented the growth rate of aerosol propellant industry from household applications, which is slated to exceed 4.5% over 2015-2022. A notable rise in overall consumption of personal care & household products in Asia Pacific, exhibits promising growth prospects for the regional aerosol propellants industry. China, India, and Japan are the leading countries which have contributed toward the regional growth. This can be credited primarily to the rising consumer interest in maintaining health & hygiene and a significant increase in consumer purchase parity. Asia Pacific aerosol propellants market is likely to witness a substantial growth rate of more than 5.5% over the period of 2015-2022.

The established automotive industry in Europe is one of the most promising growth drivers that has raised the bar of the regional aerosol propellants market. Increase in the production of automobiles has led to greater demand for automotive spray paints, lubricants, adhesives, and interior cleaners. UK, Germany, and France are the leading countries of Europe which have demonstrated sturdy growth prospects. As per estimates, Europe aerosol propellants industry is set to exceed 4.8 million tons by 2022. Moreover, the consumer trend of paying the premium prices for eco-friendly products derived from biomass has been gaining considerable traction in the region. This has prompted an increase in the use of bio-DME products, which in turn has benefited the growth of the overall aerosol propellants industry .

 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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