Market Overview:
The worldwide aerosol propellant market is predicted to observe a substantial growth in future owing to the growing demand for aerosol items like paints, deodorants and fresheners. Further, growing use of aerosol propellant in personal care items, usually cosmetics, is predicted to stimulate its demand during the estimated period.
The worldwide aerosol propellant market was evaluated at 6049.90 million US dollars in year 2015 and is predicted to touch the revenue mark of 9163.86 million US dollars by the end of the year 2022. The market is predicted to grow at a CAGR rate of 6.13% during the forecasted period. Rising demand of aerosol products combined with increasing application in cosmetics is predicted to stimulate the growth of the industry. Enhanced demand of aerosol propellants mainly in household items which includes insect repellants, air fresheners and disinfectants are predicted to increase the growth and expansion of the aerosol propellant market globally.
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Aerosol propellants utilizes compressed or liquefied gas to fuel the active constituents in paste form, powder form and liquid form in short spray patterns along with regulated droplet volumes and amounts. They are used in producing antiperspirants, shaving creams, hair mousse, air fresheners, automobiles products, industrial items and technical items.
Advancement in technology and technical innovations to create environment friendly, lower prices and lower VOC items is further projected to open new growth avenues for the global aerosol propellant market in future. In addition to this, rise in old age population has driven the utilization of aerosol in anti ageing cosmetics that have further added to growing demand for aerosol propellants. But, different ecological as well as health hazards related to the utilization of aerosol propellants in the aerosol items are predicted to inhibit the growth of the global aerosol propellant market in future.
Aerosol Propellant Market by Product:
The worldwide aerosol propellant market based on products includes hydrocarbons, HFO, other hydrocarbon propellants, DME, CFC, carbon dioxide and nitrous oxide.
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Other hydrocarbon propellants are the biggest product section of the worldwide aerosol propellant market. This section contributed about 62.9% of the total market share to the worldwide aerosol propellant market during year 2014. These other hydrocarbon propellants can be manufactured easily, possess zero ozone depletion potential, consists low atmospheric residence period and has lower price. They do not add to the green house environmental effect and this factor is predicted to play a key role in growing the demand of hydrocarbon propellants in future. They are utilized in producing different consumer items like air fresheners, deodorants, technical items, industrial items, food items and hair mousse.
Hydrocarbons were the biggest product section contributing about 80% of the total market share of the worldwide aerosol propellant market during year 2013 in terms of market volume/size. Factors like high stability, lower costs and low toxicity of hydrocarbons like n-butane, propane and Isobutane are predicted to retain its high market share in future. Hydrocarbons does not include halogen group and this feature of hydrocarbon make them best propellants of water based aerosols.
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Growing demand for hydrocarbons in hair sprays, styling mousses, antiperspirants, deodorants and shaving foams is predicted to be a key driver for the growth of the global aerosol propellant market in future. This will also help hydrocarbons retain its high market share in future.
DME section is predicted to experience rapid growth in demand during the estimated time as it provides exceptional benefits like solvency and water miscibility making it possible for its utilization in different aerosol items comprising of paint sprays and hairsprays.
Aerosol Propellant Market by Application:
The worldwide aerosol propellant market based on applications is divided into paints & coatings, medical, personal care, households and others.
Personal care section holds the biggest market share of the worldwide aerosol propellant market. It was the biggest application section during year 2013. During year 2014, personal care section contributed about 61.81% of the total market share of the worldwide aerosol propellant market in terms of market size. This section is predicted to observe significant growth and expansion during the estimated period owing to the enhanced demand for items like deodorants, skin care products, antiperspirants, infant care and hair care.
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