Global Aerosol Propellant Market is valued approximately at USD 7.2 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 6.20% over the forecast period 2019-2026. An aerosol propellant is a gas under pressure in a container or can, that is utilized to spray out the substances present within when the pressure is released. The utmost preferred propellants are liquid gases, and naturally occurring hydrocarbons, such as butane and propane. Other types of aerosol propellants comprise hydrofluorocarbon (HFC), dimethyl ether (DME), and hydrofluoric olefin (HFO). Aerosol propellants are primarily used in the production of personal care products, such as antiperspirants, deodorants, hair mousse, hair sprays, and various other products. They are also utilized in household products, such as textile/fabric care, insecticides, air fresheners, and others. In therapeutic application, aerosol propellants play a crucial role in the production of metered dose inhalers (MDI). The market is propelled by growing usage of aerosol propellants in personal care and homecare products along with use of eco-friendly aerosol propellants in industrial products. As per the International Trade Administration, India personal care and beauty industry is expected to be valued at $10 billion in 2021 from $7 billion in 2014. Similarly, as per Statista, South Korea beauty and personal care industry was valued about $8 billion in 2010 that increased to about $16 billion in 2018. Hence growth in the end use industry is propelling the demand for aerosol propellants. Also, increase in the disposable income of consumers, and technological advancements in the field of aerosols is further contributing towards market growth. Whereas, stringent government regulations in the sue of aerosol is likely to impede the market growth. EPA has executed conditional limitations on the production and usage of many aerosol propellants including Dimethyl Ether (DME), hydrochlorofluorocarbon (HCF), due to their adversative effect on environment and health. However, use of Aerosol Propellants in the Food Industry is expected to create significant growth opportunity in the market over the forecast period.
The regional analysis of global Aerosol Propellant market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading region across the world in terms of market share owing to presence of established players in the region along with increasing demand for personal care products in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as rising disposable income, heavy demand for homecare & personal care products along with consumer awareness to maintain personal hygiene would create lucrative growth prospects for the Aerosol Propellant market across Asia-Pacific region.
Major market player included in this report are:
Akzo Nobel N.V.
The BOC Group Plc.
Royal Dutch Shell PLC
The Chemours Company
Honeywell International Inc.
Diversified CPC International
Emirates Gas LLC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Dimethyl Ether (DME)
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Aerosol Propellant Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers