The global aerosol caps market is expected to reach USD 440.5 million by 2025, growing at a CAGR of 4.7%, according to a new report by Grand View Research, Inc. Increasing demand for the product in aerosol used in personal care and household application is expected to drive growth.
Growing demand for the aerosols in the automotive & industrial application is expected to drive industry growth over the next eight years. The increasing utilization of aerosol paint cans in enhancing the aesthetic value of the vehicle is expected to drive the demand over the forecast period.
The increasing use of aerosol products in the personal care industry is expected to have a positive impact on the demand. However, the substitution by new technologies in the aerosol industry is expected to restrain growth. In addition, the rising environmental & human health concerns pertaining to aerosol products is expected to restrain growth.
The industry is fragmented with local manufacturers accounting for majority of the market share. These players cater to their existing customers and provide personalized services to retain them. As a result, players catering to the global market struggle to acquire new customers in a supplier saturated market.
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Further key findings from the report suggest:
Personal care accounted for 45.3% of the overall revenue share in 2016 on account of the growing demand for aerosol products in hair care and skin care applications coupled rising consumer grooming standards
Automotive & industrial applications accounted for over 23.5% of the volume share in 2016 owing to high utilization of bug & tar remover, cleaner, degreaser aerosol sprays coupled with growing automotive industry
Food & paints applications accounted for over USD 75 million on account of the growing demand for aerosol technology in manufacturing spray paint cans, cheese cans and other related products
The U.S. accounted for 24% of the overall industry owing to the presence of major automotive players in the country coupled with increasing demand for aerosol technology in automotive industry
The major players in industry are vertically integrated and adopt different technologies for improving the quality of raw materials and molding techniques to enhance the quality of the aerosol caps
Grand View Research has segmented the global aerosol caps market on the basis of application and region:
Aerosol Caps Application Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
Automotive & Industrial
Aerosol Caps Regional Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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