The global aerosol propellants market size is expected to reach USD 39.93 billion by 2030, according to a new study by Polaris Market Research. The report “Aerosol Propellants Market Share, Size, Trends, Industry Analysis Report, By Types (DME, HFC, HFO, Hydrocarbons, Others); By Application; By Sales Channel; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand is projected to be fueled by the increasing use of the product in personal care goods. The growth is expected to be fueled by the increasing use of aerosol-based cosmetics, pharmaceuticals, and personal care goods. Increasing applications in the construction and automotive industries are also driving the industry’s growth. Aerosol paints are commonly used to touch up dents and scratches on vehicles and bikes, as well as to add aesthetically pleasing decorations to the vehicle’s body.
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Other growth-inducing elements include product advancements such as the creation of airless and Stahl Monoblock cans that employ environmentally benign propellants. These cans contain low volatile organic compounds (VOC), allowing them to be used in a wider range of health and hygiene products. Additionally, rising consumer buying power is supporting increasing the demand for fragrances.
The rising demand from the DME segment is anticipated to fuel the industry’s propellants growth. The segment’s rise is being fueled by the high acceptability of DME in emerging economies due to its low toxicity and cost-efficiency. DME is also commonly found in solvents and water-based systems and in the production of hair spray and paint. The low price of DME, combined with its low toxicity and eco-friendly characteristics, is predicted to fuel growth.
Aerosol Propellants Market Report Highlights
- Personal care segment is anticipated to grow at the fastest rate over the forecast period owing to the increased use of aerosol propellants in the personal care business.
- Household sector is expected to account for a significant share over the forecast period. The industry is being driven by an increase in the use of insect repellents and air fresheners.
- Europe is expected to grow at a significant rate over the projected period due to the presence of a substantial manufacturing base of cosmetic products in economies.
- The global market is highly competitive owing to the existence of large market players with a global presence including Royal Dutch Shell PLC, Honeywell International Inc., The Chemours Company, Nouryon Aeropress Corporation, and AkzoNobel N.V.
Polaris Market Research has segmented the aerosol propellants market report based on type, sales channel, application, and region:
Aerosol Propellants, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Dimethyl Ether (DME)
- Hydrofluorocarbons (HFC)
- Hydrofluoro Olefins (HFO)
Aerosol Propellants, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- Personal Care
- Paints & Coatings
- Automotive & Industrial
Aerosol Propellants, Sales Channel Outlook (Revenue – USD Billion, 2018 – 2030)
- Service Providers
Aerosol Propellants, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa