The new report by Expert Market Research titled, ‘Global Aerosol Propellants Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global aerosol propellants market, assessing the market based on its segments like application, type, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5.4%
Personal care items, such as newborn care, deodorants, skincare, hair care products, and antiperspirants, accounted for a large share of the market due to rising health concerns and demand for hygiene products. The personal care business is predicted to benefit from increased demand for deodorants and shaving creams among the younger population, owing to rising consumer spending power. In addition, rising hygiene awareness and a rising home furnishing sector are likely to boost demand for aerosol propellants in domestic applications.
Aerosol Propellants Industry Definition and Major Segments
Aerosol propellants are compressed gases or vapours in a container that, when released with force and expansion through the container’s valve, carry out the other substance existing in the container. Cosmetics, home cleaners, and other goods are commonly made with them.
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By application, the market is divided into:
• Personal Care
• Paints and Coatings
By type, the market is divided into:
• Compressed Gas Propellants
• Liquefied Gas Propellants
The global regions for rapid self-healing gel market include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Aerosol Propellants Market Trends
The rising adoption of aerosol-based products in the cosmetics, pharmaceuticals, and personal care sectors is expected to boost market expansion for aerosol propellants. Aerosol propellant demand is also being driven by the booming skincare and cosmetics industries. Demand for deodorants and air fresheners has increased as disposable incomes have increased and hygiene awareness has increased, particularly in emerging nations, boosting the worldwide aerosol propellants industry’s growth over the predicted period.
The industry is also being driven by an increase in the use of insect repellents and air fresheners. Furthermore, the ease with which raw materials are available has an impact on the manufacturing and price of aerosol propellants. Natural gas reserves are predicted to boost the output of hydrocarbons such as butane, propane, and isobutene, propelling the market forward.
Key Market Players
The major players in the market are Aveflor, a.s., DuPont de Nemours, Inc. (DD (NYSE)), Honeywell International, Inc., Aeropres Corporation, BOC Group Plc, AkzoNobel NV. (AKZA (AMS)), Brothers Gas, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.