The global market for aerosol cans, in terms of value, is projected to reach USD 10.93 billion by 2021, at a CAGR of 3.9%. This market is growing rapidly in accordance with the growth in the packaging market, globally. Rise in demand for personal care products has largely contributed to the growth of the aerosol cans market. This market has been classified on the basis of product type, material type, propellant type, end-use sector, and region.
High growth potential in emerging Asia-Pacific markets is expected to provide new growth opportunities to the players in the aerosol cans market. In 2015, Asia-Pacific accounted for the fastest-growing region in the global aerosol cans market, with China being the largest market in this region. Developing countries such as China and India are projected to be the emerging markets, making Asia-Pacific the fastest-growing region in the aerosol cans market. These emerging economies focus on adopting the latest technologies and manufacturing processes in various industrial segments. The growth of the aerosol cans market in this region is driven by factors such as the increase in home care, and autotmotive industries, the rise in demand for cosmetics & toiletries products, growth in trend of convenient packaging, and economic development.
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The automotive segment is estimated to be the second fastest-growing segment in 2016. The demand from the automotive sector is expected to experience a higher growth rate, mainly because of rise in disposable incomes, change in lifestyle, and change in consumer preferences. Aerosol cans are easy and safe to use.
On the basis of material type, aluminum is projected to be the fastest-growing segment in the aerosol cans market. The demand for aluminum aerosol cans is increasing due to its ecological benefits, better performance, and convenience over glass and plastic cans.
The shaped segment is projected to be the fastest-growing segment in the aerosol cans market on the basis of product type and this trend is projected to continue during the forecast period. With continuously evolving packaging trends such as customized shapes and can body, and ease of printing on full can body, shaped cans have been observed to grow, owing to its features. These factors have helped expand the market for shaped aerosol cans in recent years. Additionally, the growth in retail industry and the rise in disposable income of consumers make shaped aerosol cans the fastest-growing segment.
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