The global aerosol propellants market is anticipated to reach an estimated value of USD 24.28bn by 2027 as against its valuation of USD22.82 in 2020 at a CAGR of 6.4%.
The aerosol products market is gaining momentum due to its applications in various industries. The cosmetic industry will augment the growth of the aerosol propellants market in the forthcoming years due to its even dispensing of the product, without any splash or spilling.
Researchmoz presents the details of the aerosol propellant market in terms of market size, drivers, opportunities, restraints, regional outlook, and competitive outlook.
Growing Adoption of Sustainability Stimulates the Growth in Aerosol Prepollent Market
The stringent regulations around volatile organic compounds and concerns over the depletion of ozone layers are leading the way forward for the manufacturer of various end industries to adopt sustainability in packaging and products. Therefore, manufacturing companies from end-user industries are moving away from chlorofluorocarbons to aerosol propellants in their formulations, paving the way for the growth of the aerosol propellant market over the forecast period.
Also, easy to use and handle along with longer shelf life are some of the crucial determinants that will drive the global aerosol propellant market in the future.
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Increasing the use of Hydrocarbons to Boost the Sales in the Market
Increasing demand for hydrocarbons will strengthen the global aerosol propellants market in the forthcoming years. Hydrocarbons are considered organic in nature as they are extracted from natural gas liquids, resulting in low toxicity, and lesser reactivity, and are environmentally friendly. They are highly adopted in the pharmaceutical industry such as in nasal products, resulting in the expansion of the aerosol propellant market over the forecast period.
However, landfills with hazardous aluminium cans as wastage may hinder the growth of the global aerosol propellants market during the forecast years.
Nevertheless, the environmental acceptance of aerosol products will be the stimulant of the growth in the aerosol propellants market in the years to come.
Analyst’s View
The aerosol market will witness good growth in the coming years at a CAGR of 6.5%.
Personal care products play a crucial role in boosting the sales of aerosol propellants and yielding better revenue in the global aerosol propellant market.
Aerosol propellants are used in household cleaning products as well, owing to the growth potential in the forecast period.
Aerosol propellants use steel as their raw material and the abundant availability of steel will provide impetus to the expansion of the global aerosol propellants market in the coming years.
The Europe market will exhibit a remarkable surge in the global aerosol propellants market. The growth in the European region could be credited to the large scale production of aerosol products and the presence of key manufacturers.
Competitive Landscape
Researchmoz in its detailed report shares a comprehensive insight on the competitive edge of the aerosol propellant market in order to help stakeholders to take the right and thoughtful decisions to thrive in their business space.
The global aerosol propellants market is competitive in nature and key players are highly focused on strategic collaborations, partnerships, and innovations to strengthen their positions in the global aerosol propellant market.
The key manufacturers in the aerosol propellants market include-
- Lapola Industries Inc
- Royal Dutch Shell LLC
- Aveflor A.S
- AkzoNobel
- Solvay
- Aeropres Corporation
- Arkema Group
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Key Takeaways
Some of the key takeaways from the detailed report shared by Researchmoz are as follows
- Booming home furnishing and housekeeping market will bring out good growth opportunities in the global aerosol propellants market in the years to follow.
- Growing acceptance of DME across the globe, especially in developing economies due to its environmental safety and better pricing will drive the aerosol propellants market during the forecast period.
- Increasing personal hygiene awareness across all the age groups and sections of the society will boost the sales and revenue of aerosol propellants market in the following years.
- Europe will hold a dominant place in the global aerosol propellants market, the high demand and revenue will come from countries such as UK, Spain, France, and Germany.
- Pharmaceutical sector will play a catalyst in the growth of the global aerosol propellent market during the forecast period.
- The food industry also uses aerosol propellant in their products and packaging, resulting in the expansion of the application types in the global aerosol propellants market.
- Key manufacturing companies are focusing on innovations and collaborations to thrive and capture the market position in the global aerosol market during the forecast period.
Download Report PDF:Aerosol Propellants Market
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