The worldwide aerosol market is anticipated to exceed a value of USD 120 billion by 2025, according to insights presented in a report by Grand View Research, Inc. Aerosols are an amalgamation of solid or liquid particles in fine air. They are also present in consumer or pharmaceutical products as a medium of dispersion such as hairsprays or deodorants, known as aerosol propellants.
Demand for aerosol in consumer products such as household cleaners and insecticides is expected to drive market growth over the forecast period (2014-2025).Demand for drug delivery systems, inhalers, and pain relief sprays by consumers is also estimated to drivemarket growth. Rising demand for personal care products such as hair sprays is expected to sustain demand.Inclusion of aerosols in food products such as whipped creams, mayonnaise, olive oil, and beer is expected to spur market volumes. In contrast, adherence to the Montreal Protocol and the Clean Development Mechanism is predicted to restrain the market for volatile organic compound-based aerosols. The booming e-commerce sector, on the other hand, provides new opportunities for growth due to consumer shopping patterns and easy availability of products.
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The harmful effects of aerosol and concerns of inflammability of aerosol-based products have led manufacturers to create eco-friendly aerosol solutions. For instance, Honeywell launched Solstice Propellant in 2014 to be used in the treatment of diaper rashes for kids and adults. Its additional applications in cleaning sprays, air horns, and dusters while adhering to environmental regulations can create market demand.
Sustainable aerosol packaging is expected to open up new avenues for the market. For instance, Ball Corporation utilizes recycled aluminum for its deodorant cans without compromising its contents. Unilever is another firm that has reduced its dependence on aluminum by creating compressing aerosols for female deodorants. Recent developments in the consumer electronics sector have led to the use of aerosol jet systems in reducing the size and weight of products while lowering manufacturing costs.
The global aerosol market is segmented by application and region. Major market applications include automotive and industrial, household, personal care, medical, paints, and food. The household segment accounted for over 31% of the market volume in 2015. It is expected to exhibit a CAGR exceeding 6% from 2016 to 2025 due to rising demand for household cleaners. Aerosol demand in the medical application segment is projected to register a CAGR above 5% from 2016 to 2025. The personal care segment can exhibit a remarkable growth rate during the forecast period due to rising sales of personal care products.
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Regions covered in the report include North America, Latin America, Asia Pacific (APAC), Middle East and Africa (MEA), and Europe. The North America market amassed respectable revenue in 2015 due to high adoption of aerosol-based products and expendable incomes of U.S. consumers. The expanding automotive sector in the U.S. and Mexico can create demand for aerosol propellants, deeming it profitable for the global market.
The Europe market recorded a 32% market share by way of demand due to greater need for personal care products in France, Spain, and Italy. Demand for male grooming products in the United Kingdom (UK) is expected to generate global demand for aerosols. In addition, rise in sales of shampoos, hair sprays, and conditioners are projected to spur market growth. The Latin America market is poised to exhibit strong growth due to a large consumer base in Argentina and Brazil. The APAC market is touted to expand at a CAGR over 7% from 2016 to 2025 due to demand for personal care products. Rapid industrialization in India and China is predicted to create a massive market for aerosols.
Prominent market players include Beiersdorf AG, Proctor and Gamble (P&G), Unilever, Honeywell, and Henkel AG & Co.Focus on innovation has led most of these players to invest in research and development. For instance, Honeywell established a new plant that produces air conditioning refrigerants. The use of this product can reportedly diminish greenhouse gas emission levels. The globally expanding automotive industry is one of its biggest proponents rendering additional market demand.
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