GVR Report cover Aerosol Propellants Market Size, Share & Trends Report

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

  • Report ID: 978-1-68038-338-6
  • Number of Pages: 150
  • Format: Electronic (PDF)

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.

U.S. aerosol propellant market

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.

Aerosol Propellants Market Trends

Aerosols propellants are mainly used in room fresheners, deodorants, hair sprays, paints, antiperspirants, air sprays, inhalers, shaving gels, insecticides, fabric care, furniture polish, oven cleaners and leather care. Other applications include automotive products, paints & varnishes, industrial products, pharmaceutical, veterinary and food products. Increasing consumption of household products and personal care products in various countries including India, China, Brazil, U.S., Germany, UAE, and Saudi Arabia is further anticipated to boost demand for aerosol propellants.

The aerosol propellants market majorly deals in B2B market space. Increasing preference for aerosol propellants by customers owing to ease of product handling has been driving the existing consumer goods companies to offer their products in these forms. Besides, the growing packaged food and consumer goods industries across the world have further been fueling the product demand. On account of growing end-use industries globally, the existing companies are expected to enter new geographies along with the emergence of new entrants in the market.

Introduction of new product formats and gender-specific products has witnessed remarkable growth in conjunction with personal care products. Some of the key factors driving the global cosmetics market include growing demand for skin care products, advanced beauty treatments, and marketing strategies by manufacturers such as L’Oréal, Unilever, and P&G. In addition, macroeconomic factors such as the rising disposable income of consumers are expected to result in an increased demand for aerosol based cosmetics and personal care products.

Food is another segment that is expected to drive aerosol demand significantly over the forecast period. The rising use of aerosols in a variety of food products including chocolate, whipped cream, ketchup, olive oil, vinegar, is one of the major factor driving product demand. Also, the product helps to keep the food formulations 100% intact by creating a barrier between the external environment and food product, thereby, enhancing its shelf life by avoiding contamination. Ongoing product innovation, consumer preferences for high-quality products, and strengthening government food regulations are expected to aid market growth in near future.

Aerosol propellants find large applications in industry of coatings & paints, it becomes a gas, this transforms the paint into a fine spray, allowing the surface to be levelled and finished properly. Aerosol propellants find applications in various industries including automotive, construction and marine sector will propel demand for aerosol propellants.

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.

Global aerosol propellant market

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.

Europe is one of the fastest-growing regions owing to the growing usage of deodorants and antiperspirants on account of economic prosperity and growing disposable income. Increasing demand for hair care products on account of the aging population in the region is expected to propel market growth. Furthermore, R&D leading to innovation in shaving cream and gel formulation is expected to positively influence the market.

Growing cosmetics demand in Germany, Italy, France, Spain, and the UK owing to increased make-up use by women aged 18-25 years is expected to promote aerosol use in personal care applications, thereby increasing demand for aerosol propellants. However, European Commission VOC Solvents Emissions Directive 1999/13/EC about limiting VOC emission is expected to restrict aerosol propellants market growth. In addition, European Union’s Regulation (EC) 1005/2009 is intended for limiting the use of ozone-depleting substances, is expected to hamper aerosol propellants market growth over the projected years.

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.

Market presence of FMCG companies such as Proctor & Gamble and Unilever in the U.S. along with various market participants with prime focus on new product developments in personal care products and household products are expected to promote aerosol propellants market growth over the forecast period. Also, the manufacturing industry of the U.S. contributes nearly 11% of the country’s GDP and this projects a positive outlook for the aerosol propellants consumption in the personal care, medical, paints & coatings, food, automotive and industrial manufacturing industries of the U.S.

Asia Pacific (APAC) aerosol propellants market is expected to grow at a fast pace, especially in the personal care application owing to various factors such as rapid economic development, growing GDP, increased standards of living, and growing consumer surplus. In addition, a growing population coupled with rising disposable income in developing countries such as China, India, and Korea are likely to boost the industry demand. Moreover, usage of aerosol propellants is expected to grow in light of high awareness regarding hair spas, hair care treatments, and deep nourishment.

This region is witnessing growth in skincare products and is expected to see further growth in the future on account of growing consumer awareness and increasing spending power. Appearance consciousness among youth and middle age groups is expected to drive the personal care applications market and thus driving the use of aerosol propellants. Furthermore, rising health awareness and insect-borne diseases in the region are expected to drive the demand for aerosol propellants over the upcoming years.

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

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Volume in Kilotons, Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Canada, Mexico, Germany, U.K., France, China, India, Japan, Brazil

Report coverage

Volume forecast, revenue forecast, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analysts working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


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

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