Aerosol Propellants Market Size, Share & Trends Analysis Report By Product (Hydrocarbon, DME, CFC), By Application (Households, Personal Care, Medical, Automotive), And Segment Forecasts, 2019 - 2025

Industry insights

The global aerosol propellants market size was estimated at USD 7.74 billion in 2018 and is expected to expand at a CAGR of 5.2% over the forecast period. Increasing demand for aerosol products, such as air fresheners, paints, and deodorants is expected to be the primary factor contributing to the growth. Furthermore, growing product application in personal care products is expected to fuel the demand.

Increasing adoption of the aerosol-based in cosmetics, pharmaceuticals, and personal care products is likely to drive the growth. Growing skincare industry in emerging economies is also impelling the demand for aerosol propellants. Moreover, increasing demand for fragrances due to rise in the spending power of consumers is fueling the growth.

Growing automobile industry in U.S. and Mexico is predicted to fuel the product demand in the forthcoming years. Furthermore, growing construction and automotive sector in the emerging economies of Asia Pacific, such as India, China, and Malaysia are also expected to drive the demand for aerosol propellants. Latin America and Middle East and Africa are also expected to expand at a steady CAGR over the forecast period.

Europe led the market in the past and is expected to witness considerable growth in near future due to growing demand for such products in U.K. North America is also expected to witness substantial growth in the forthcoming years due to escalating demand for personal care products.

Inclination of emerging economies, such as India and China towards promoting favorable investments is anticipated to create growth opportunity for the aerosol propellants market. Moreover, innovations to introduce environment-friendly, economic, and low VOC products, is also predicted offer lucrative opportunities in near future.

Prohibition on the use of CFC and HFC in most parts of North America and Europe is restraining the market growth. Hydrocarbon propellants have zero ozone depletion potential and less atmospheric residence time. Hence, several health and environmental risks associated with the use of propellants in aerosol products are hampering the demand.

Product Insights

Hydrocarbons segment accounted for USD 6.28 billion in 2018 and is projected to expand at a CAGR of 4.9% from 2019 to 2025 due to high stability, less toxicity, and low cost of the product. In addition, hydrocarbons are ideally used for water-based products, since they do not comprise halogen group thereby accounting for a high product demand.

Hydrocarbons, such as propane, isobutene, ethane, and butane are either used as mixtures or alone, or combined with other gases to achieve the required vapor pressure, degree of flammability and density. Hydrocarbon propellants are used in pharmaceutical aerosols due to non-toxicity and non-reactivity, and eco-friendly nature, leading to acceptance and growing demand.

DME and methyl ether segment accounted for 9.8% of the global market in 2018 and is anticipated to expand at a CAGR of 4.9% in near future owing to various advantages including water miscibility, solvency, and chemical stability, making it ideal for application in hairsprays and paint sprays.

Low price of DME coupled with low toxicity and eco-friendly nature is expected to drive the growth during the forecast period. Furthermore, high demand for air fresheners and cosmetic products coupled with increasing use for the manufacturing of these products is anticipated to propel the market expansion in the years to come.

Application Insights

Personal care industry accounted for 34.3% of the global market share in 2018 and is anticipated to expand at a CAGR of 4.8% from 2019 to 2025. Rise in health issues and demand for hygiene products, such as infant care, deodorants, skin care, hair care products, and antiperspirants are few factors propelling the growth.

Aerosol propellants are used in personal care products, such as antiperspirants, deodorants, and hair sprays. Hence, escalating demand on the global scale is driving the segment growth. High demand for deodorants due to increasing spending power of consumers is expected to augment the demand from personal care industry.

Household segment was estimated at USD 2.72 in 2018 due to increasing applications in stain removers, starch, fabrics and household surfaces, water repellents for leather and fabric, and anti-static sprays and air fresheners, among others. Speedy globalization and growing well-organized retail industry are propelling the demand for these products.

Growing awareness regarding hygiene and booming home furnishing market is expected to augment the demand for aerosol propellants in household application. Rising usage of insect repellents and air fresheners is also driving the market. Additionally, high demand for deodorants and shaving creams among younger population in developing economies is impelling the market.

Easy availability of raw material impacts the production and price of aerosol propellants. Presence of natural gas reserves is expected to increase the production of hydrocarbons including butane, propane, and isobutene, thereby driving the market. Moreover, ban on CFC by European economies is leading to increased use of hydrocarbons and DME.

Increasing acceptance of DME by emerging economies, due to its low toxicity and economic pricing is expected to propel the market growth. Furthermore, increasing use of DME in solvents and water-based systems is predicted to drive the demand. Increasing applications of DME for hair spray and paint application is also expected to drive the growth.

Regional Insights

Europe accounted for USD 2.49 billion in 2018 and is expected to expand at a CAGR of 5.0% from 2019 to 2025 due to the presence of robust manufacturing base of cosmetic products in economies, such as U.K., Germany, Spain, and France. Furthermore, increasing use of make-up products by women aged 18 to 25 is expected to drive the regional market. Europe holds significant share of global home furnishing market, which is expected to positively impact the growth. Moreover, availability and fluctuation in raw materials prices, such as methanol and natural gas is expected to influence the aerosol propellants pricing.

North America is expected to register notable gains over the forecast period due to growing scope of application in the automotive industry, especially in U.S. and Mexico. In addition, high adoption of aerosol products in the region is expected to benefit the market expansion. Moreover, presence of key market players is also propelling the region market growth.

Aerosol Propellants Market Share Insights

The key companies in the industry are focused on new product developments in deodorants and shaving creams, which will ultimately promote revenue generation. Growing automobile production is expected to propel the demand for paints and coatings, which is expected to augment the product demand during the forecast period.

The market players compete with one another on the basis of product and price and operate direct and third party-based distribution channels with their clients. The major players are involved in the development of advanced product formulations in a bid to increase the market share and sales.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global aerosol propellants market report on the basis of product, application, and region:

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  • Hydrocarbons

  • Nitrous Oxide and Carbon Dioxide

  • DME and Methyl Ethyl Ether

  • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  • Household

  • Personal Care

  • Paints & Coatings

  • Medical

  • Automotive & Industrial

  • Foods

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • Japan

    • India

  • Central & South America

    • Brazil

  • Middle East & Africa