The global aerosol market size was 15.48 billion units in 2015 and is expected to witness substantial growth over the next eight years on account of its growing usage in household and food sector. Rising health awareness along with growing concerns regarding hygiene will drive demand for air fresheners and insect repellents which in turn will fuel product demand in the near future.
Rapid urbanization along with surging infrastructural development, particularly in India, UAE and Thailand will drive paints & coatings industry, which in turn will propel aerosol demand over the forecast period. Growing usage of the product in stain removers, shoe polish, pre-wash sprays, starch and water repellents for leather and fabrics is expected to stimulate industry growth over the next eight years.
Growing demand for aerosol in various food products including whipped creams, mayonnaise, ketchup, chocolate, vinegar, olive oil, sparkling water, beer, and soda will propel industry growth over the forecast period. Rising food & beverages industry in various countries including India, China, UAE, Egypt, and Iran is expected to fuel aerosol demand in the near future.
Stringent regulations including F-gases regulation from the European Commission along with VOC Paints Directive 2004/42/EC to reduce GHG emissions is expected to hinder market growth in the near future. Technological development including stahl monoblock and airless dispenser’s aerosol cans will create immense market potential in the near future.
U.S. aerosol market revenue, by application, 2013 - 2024 (USD Million)
Personal care was the largest application in 2015, valued at USD 22.13 billion. It is expected to gain significantly over the forecast period in light of growing demand for deodorants among male population owing to better living and hygiene standards coupled with rising disposable income in emerging economies of Asia Pacific, Latin America, and the Middle East. Also, new product launches in shaving foams, shampoos, deodorants, and antiperspirants will further create immense market potential over the forecast period.
Automotive & industrial applications accounted for over 9.0% of the overall revenue share in 2015. Increasing automobile production in countries including the U.S., Indonesia, China, Mexico, Germany, Malaysia, South Korea, Taiwan, and Japan and will drive growth.
Growing usage of adhesives & sealants, lubricants, and carburetor cleaners will propel industry demand in the near future. Favorable policies for promoting investments in automotive and construction sectors in Asia Pacific and MEA will open new market avenues over the next eight years.
Europe aerosol market accounted for over 35.0% of the volume, dominating the global market in 2015. The market will show growth on account of rising demand for cosmetics in Germany, Italy, France, Spain and UK. Moreover, the presence of well-established brands in the region including Reckitt Benckiser (RB), Henkel AG & Co., and Unilever will augment industry expansion over the next eight years.
Asia Pacific aerosol market was valued over USD 12.50 billion in 2015 and is expected to witness significant growth on account of growing use of personal care products including deodorants, shaving creams, among younger population in emerging markets including India and China. Also, increased application scope in architectural, automotive and industrial sector owing to low manufacturing cost is expected to have a positive impact on market growth. Asia Pacific is projected to witness significant industry expansion on account of growing automotive sector in China, India, and Malaysia.
MEA is expected to show significant volume gains at a CAGR of 4.3% from 2016 to 2024 as a result of growing construction sector primarily in Qatar and UAE coupled with rising medical industry in the region.
The market is competitive in nature with participants focusing on product innovation through extensive R&D. Key manufacturing companies include Proctor and Gamble (P&G), Unilever, S.C. Johnson, Reckitt Benckiser (RB), Thymes LLC, Crabtree & Evelyn, and Henkel AG & Co.
In October 2014, Honeywell announced that low GWP, Solstice propellant, had been incorporated in a new diaper rash aerosol treatment for infants, toddlers, and adults. In April 2014, Henkel AG & Co. collaborated with Ball, a manufacturer of aluminum cans, for the packaging of its beauty care brand Fa.
In May 2014, Unilever introduced compressed deodorant cans for most of its brands including Sure, Dove, Axe/Lynx in Europe and Asia. The new product design is anticipated to cut the carbon footprint of an aerosol spray by almost 25% per can. Ongoing product development by various companies to manufacture cost-efficient and high-performance aerosol cans is expected to drive demand over the forecast period.
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