Market Insights
The aerosol propellants market was estimated at USD 9.05 billion in 2022 and is likely to grow at a CAGR of 6.60% during 2023-2028 to reach USD 13.31 billion in 2028.
Market Dynamics
Introduction
Aerosol Propellants are compressed gases that are carried in containers such as bottles or cans. When the container’s valve is opened, these gases are released in the form of mist, foam, liquid, or semi-solid forms. Aerosol propellants find various applications including household cleaners, personal care products, medical, and paints.
Market Drivers
The market is driven by a host of factors, some of which are noted below:
- Increasing adoption of aerosol-based products in various end-use industries such as cosmetics, pharmaceutical, and personal care.
- Growing demand for paints & coatings materials in the Asia Pacific region.
- Rising demand for aerosols in whipped cream, mayonnaise, chocolate, and other food products.
- Product demand in the food & beverage sector is anticipated to be driven by the strong market potential for packaged goods in rising economies like Iran, India, China, the UAE, and several other emerging nations.
- Additionally, it is anticipated that rising consumer demand for aerosol propellants in home goods including air fresheners, insect repellents, and disinfectants will fuel market expansion.
Key Players
The following are the key players in the aerosol propellants market:
- Aeropres Corporation
- Akzo Nobel N.V.
- Arkema Group
- Emirates Gas LLC
- Grillo-Werke AG
- Honeywell International, Inc.
- National Gas Company SAOG
- Nouryon
- Royal Dutch Shell Plc
- The Chemours Company
Note: The above list does not necessarily include all the top players in the market.
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Segment Analysis
By Product Type
"Hydrocarbons segment accounted for a market share of more than 75% in 2022"
The market is bifurcated into hydrocarbons, dimethyl ether and methyl ethyl ether, nitrous oxide and carbon dioxide, and others. The hydrocarbons segment accounted for a market share of more than 75% in 2022 & is estimated to account for the major share of the market during the forecast period. Owing to their wide utilization in topical pharmaceutical aerosol products and various beneficial characteristics offered by them such as immiscibility in water, low toxicity, and lack of reactivity.
By Application Type
"Personal care application segment held a market share of more than 30% in 2022"
The market is segmented as personal care, dairy, automotive & industrial, foods, paints, medical, and others. The personal care application segment held a market share of more than 30% in 2022 & is estimated to hold a significant share of the market during the forecast period. The product is widely used in the production of personal care products such as hair mice, hair sprays, antiperspirants, and deodorants due to its advantages of ease of handling and smooth finishing on surfaces without a splash. Increasing consumer inclination in skin care is driving the demand for refreshing body mists and cleansers, which is expected to propel the market over the forecast period.
Regions Analysis
"Europe region dominated the market with a revenue share of more than 30% in 2022"
Europe region dominated the market with a revenue share of more than 30% in 2022 & is estimated to be the leading region in the market during the forecast period. Factors such as the growing automotive industry in Mexico and the U.S. and the increasing adoption of aerosol household and personal care products are expected to drive regional market growth over the forecast period. Asia-Pacific, on the other hand, is estimated to witness significant growth in the market owing to the growing paints & coatings industry in the region during the forecast period.
Research Methodology
- This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerosol propellants market realities and future market possibilities for the forecast period of 2023 to 2028.
- The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
Market Segmentation
This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The aerosol propellants market is segmented into the following categories:
By Product Type
- Hydrocarbon
- Dimethyl Ether and Methyl Ethyl Ether
- Nitrous Oxide and Carbon Dioxide
- Others
By Application Type
- Personal Care
- Dairy
- Automotive & Industrial
- Foods
- Paints
- Medical
- Others
By Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, Italy, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Argentina, and Others)
Customization Options
Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
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Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com.
