Increasing hygiene awareness among consumers coupled with growth in personal care & cosmetic products demand is expected to drive aerosol propellants market
Aerosol propellants market share is forecast to hit 13.73 million tons at an annual growth rate of 4.7% from year 2015 to 2022, according to a new study based market report by Global Market Insights. The report features segment, region and application based analysis with insights on market trends, restraints, challenges, opportunities and drivers expected to impact the market size.
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The market growth is attributed to rising awareness for household hygiene like disinfectants, insect repellents and air fresheners and personal care products like deodorant, dry shampoo, hairspray, sheen spray, shine spray, body spray, mousse, temporary hair color spray and shaving cream, etc. among consumers. Innovations and the advent of technology is like to further the growth. The demand in the personal care product segment is forecast to reach 6,700 million units at a growing CAGR of 2.9% during the predicted time frame.
Growth in infrastructure spending and automobile production in various countries has attributed to the growth in demand of paints in construction and automotive sectors and is likely to further industry growth. Health and environmental problems associated with propellants used in aerosol products are likely to restrain industry growth.
Industrial and automotive applications are likely to continue the growth trend with anticipated growing CAGR of above 4.5% during the Forecast period. Rising demand for sealants, adhesives, lubricants is expected to propel the industry growth. Hydrocarbon propellants expected to exhibit stable growth by 2022.
The report covers in-depth analysis of the aerosol propellants industry on the regional scale. The market is witnessing substantial growth and is largely driven by regions, including North America, Europe and Asia-Pacific. Growing demand for cosmetic products in Europe is projected to spur aerosol propellants market growth. Asia Pacific, the market is expected to witness a substantial growth with anticipated gains of 5.6% in the next seven years.
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The report covers the analysis of the key market players, profiles, competitive scenario and business strategies. Strict Government regulations regarding aerosol propellants are discouraging the new market participants owing to considerable amount of investment during the start-up phase. Key market players include Honeywell, Covestro, Harp International, Lapolla Industries, Aeropres Corporation, AkzoNobel, Lapoll and Avalos.
The key topics covered in the report are:
- Categorization of the global market on the basis of application, region and competitive scenario
- Volume and revenue estimations for the market over anticipated period
- Market Dynamics and Insights with market strengths and weakness, opportunities and threats
- Current and future Regional Trends
- Company profiles, Positioning, business strategies of Key Players
Author Name : Dhananjay Punekar