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The aerosol propellant market is estimated to grow by USD 3.66 billion at a CAGR of 7.01% between 2022 and 2027. The market's expansion is influenced by various factors, including the rapid growth of the personal care industry, the numerous benefits associated with aerosol propellants, and the increased expenditure on personal care products. These elements collectively drive market growth, reflecting the industry's dynamic nature and consumer preferences. The personal care sector's rapid expansion underscores the demand for innovative products and solutions, stimulating the market for aerosol propellants. Additionally, the benefits offered by aerosol propellants, such as convenience and efficiency, further contribute to market growth. Moreover, the rise in consumer spending on personal care products indicates a growing awareness and emphasis on personal grooming and hygiene, driving the demand for aerosol propellants in the market.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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This report extensively covers market segmentation by type (compressed gas and liquified gas), application (personal care, household, medical, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
The market share growth by the compressed gas segment will be significant during the forecast period. Aerosol propellants are widely used in household products, including air fresheners, fabric care products, waxes and polishes, and kitchen cleaning products. Increased cleanliness awareness among consumers has led to greater demand for aerosols.
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The compressed gas segment was valued at USD 4.81 billion in 2017. Compressed gas dominates the global aerosol propellant market, with the highest market share in 2022. With the growing awareness of general health conditions and early treatment of respiratory diseases, aerosol inhalers should lead to high demand as they provide quick relief to patients. Thus, owing to these factors, the global aerosol propellant market is expected to witness high growth during the forecast period.
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Europe is estimated to contribute 33% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to companies is North America. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US and Canada are the top two contributors to the global market for aerosol propellants in North America.
An important aspect that is promoting the market's expansion is the presence of many companies providing aerosol propellants. The US is witnessing a significant shift in the spending pattern of the young generation, as indicated by the increasing consumer expenditure on personal care products, which will drive the adoption of aerosol propellants. North America is one of the most urbanized landscapes globally. As a result of urbanization, a greater proportion of people spend money on personal care items, particularly skincare items.
Furthermore, the number of dual-income households in North America, particularly in the US and Canada, has increased in line with economic recovery and urbanization. Consequently, the purchasing power of the population has increased. These factors are boosting the growth of the aerosol propellant market in North America.
The market is driven by the demand for cosmetics, particularly in new product launches like shaving foams and shampoos, indicating significant growth potential. Additionally, the market extends to food products such as whipped creams, mayonnaise, and even chocolate in the packaged foods sector. Emerging economies like the UAE, Egypt, and Iran are key markets for aerosol propellants. These propellants include hydrocarbons, dimethyl ether (DME), CFC, nitrogen, carbon dioxide, and methanol, with a focus on environmental sustainability and compliance with regulations. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rapid growth of the personal care industry is notably driving market growth. Consumers' growing desire for aerosol products and the growing personal care industry are two major contributors to the market's optimistic future. There is a preference for creating household products with an aerosol, such as air fresheners, disinfectants, and insect repellents, as a result of the fast urbanization occurring around the world, particularly in developing nations.
Consequently, the expanding use of such items in the automotive and construction sectors also adds to market expansion. Aerosol paints, for instance, are frequently used to detail cars and bicycles, repair dents and scratches, and add aesthetically pleasant motifs to the bodywork. Product innovations such as the development of airless cans with environment-friendly propellants and steel monoblocks may boost the growth of the global aerosol valves market during the forecast period.
Increasing demand for male grooming products is the primary trend in the market. Male grooming product sales are witnessing rapid growth, offering companies a profitable opportunity for expansion. Deodorants, shaving creams, and antiperspirants are among the popular products for men's grooming. Men are employing more and more male grooming products as part of their daily grooming practice, which has led to an increase in their popularity.
The market for male grooming products is expanding steadily in industrialized nations, particularly in the US and the UK. The demand for male grooming products is also being driven by an increase in disposable income and spending on personal care items, which will help fuel the expansion of the market during the forecast period.
Side-effects of aerosol propellant is the major challenge impeding market growth. The rising potential of adverse effects or health risks related to chemical compounds utilized in BPC products will hinder market growth. When inhaled, aerosol particles can reach even the tiniest areas of the human lungs and respiratory tracts. For young people who intentionally inhale aerosol propellants, ventricular tachyarrhythmias, abrupt heart failure, arterial hypotension, and hypoxia may result in sudden death.
Since manufacturers must keep their profit margins intact, it is difficult for them to offer high-quality, secure, and affordable products. This may significantly reduce their profit margins, which will impede the expansion of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Akzo Nobel NV - The company offers aerosol propellants such as Spray2Fix Eclipse Gloss as its key offerings. Under its industrial coating segment, the company offers coil and extrusion coatings, packaging coatings, and wood finishes, and adhesives.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
The market is driven by product demand across various industries, including cosmetics and pharmaceuticals. Key players like Aestra Co, Methanex Corporation, and Gazprom are prominent in supplying propellants such as dimethyl ether (DME), halogen, and nitrous oxide. The market caters to a wide range of products, from shaving foams to mouthwash and hair sprays, reflecting consumer preferences for convenience and hygiene. With the rise of the middle-class population and changing lifestyles, there's a growing demand for natural and organic aerosol products, indicating a shift towards environmentally-friendly options.
The market is driven by various factors, including the demand for dim ethyl ether (DME), coal, and natural gas as key components in aerosol production. DME Aerosols, in particular, are gaining popularity due to their environmental benefits. Companies like Arttu Group, BP, AMPCO, and Qatar Fuel Additives Company Limited play crucial roles in the market. Anti-aging cosmetic products are in high demand, especially in developed regions, driving the use of aerosols in this segment. Stahl monoblock aerosol cans and airless dispensers are preferred for their convenience and effectiveness. The market also sees significant usage in breath fresheners, teeth whitening treatments, pharmaceutical aerosols, and water-based aerosols. Additionally, household applications such as aromatherapy, cooking oil, ketchup, salad dressing, mustard, icing, cheese spreads, colorants, and coffee powders contribute to its growth. Overall, the market is influenced by economic growth, per capita income, and the personal hygiene preferences of appearance-conscious consumers.
Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.01% |
Market growth 2023-2027 |
USD 3.66 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.82 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 33% |
Key countries |
US, China, Germany, France, and UK |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Akzo Nobel NV, Arkema Group, Aztec Aerosols Ltd., Brothers Gas Bottling and Distribution Co. LLC, DuPont de Nemours Inc., Emirates National Oil Co. Ltd. LLC., Grillo Werke AG, GTS SPA, Harp International Ltd., Honeywell International Inc., Linde Plc, Mexichem UK Ltd., Mitsubishi Gas Chemical Co. Inc., National Gas Co., Repsol SA, Shell plc, Sumitomo Corp., The Chemours Co., Viatris Inc., and Bharat Petroleum Corp. Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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