April 17, 2020
As per the report titled ‘Global Aerosol Propellant Market Size study, by Type (Dimethyl Ether (DME), Other Hydrocarbon, HFC, HFO, Others), by Application (Personal Care, Household, Medical and Other Aerosol Propellants) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global aerosol propellant market is projected to grow with a CAGR of 6.20% over 2019-2026.
An aerosol propellant is pressurized gas in a container or can, which is sprayed on pressure release. Commonly used aerosol propellants include liquified gases and natural hydrocarbons like propane and butane, while others are dimethyl ether (DME), hydrofluorocarbon (HFC), and hydrofluoric olefin (HFO).
Extensive use of aerosol propellants in the production of personal care products, such as deodorants, hair mousse, hair sprays, antiperspirants, in consort with their utilization in household products like textile/fabric care, insecticides, and air fresheners are driving the growth of global aerosol propellant market. Adoption of eco-friendly aerosol propellants in industrial products is positively impacting the market outlook. Furthermore, aerosol propellants play a crucial role in the production of metered dose inhalers (MDI). Hence, increasing use of aerosol propellants in therapeutic application is expected to boost the market growth.
According to International Trade Administration, in 2021, beauty & personal care industry in India will reach a valuation of USD 10 billion. Likewise, data from Statista reveal that South Korea beauty & personal care industry was worth USD 16 billion in 2018 as compared to USD 8 billion in 2010, displaying impressive growth trends. Hence, robust growth of end-use industry is stimulating the demand for aerosol propellants.
Rising disposable income and advancements in the aerosol technology are other factors contributing to the market growth. In addition, use of aerosol propellants in the food sector is expected to create new growth opportunities during the forecast period.
On the other hand, stringent government regulations regarding the use of aerosol is likely to hamper the market growth. For instance, EPA has devised conditional limitations on the production and usage of several aerosol propellants including hydrochlorofluorocarbon (HCF) and dimethyl ether (DME), on account of their adverse impact on environment and health.
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Considering the geographical outlook, Europe aerosol propellant market is anticipated to witness prominent gains during the analysis period, on account of dense presence of established players and the escalating demand for personal care products in the region.
Meanwhile, Asia-Pacific market is anticipated to exhibit strong CAGR during the 2019-2026. Increasing per capita income, surging demand for homecare & personal care products and growing consumer awareness towards personal hygiene are driving the growth of aerosol propellant market in APAC.
Major players of global aerosol propellant industry are Arkema Group, Royal Dutch Shell PLC, The BOC Group Plc., The Chemours Company, Aeropres Corporation, Aveflor A.S., Honeywell International, Inc. Emirates Gas LLC, and Diversified CPC International.