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The rapid industrialization in developing countries, such as Indonesia, China, Thailand, Brazil, and India, has increased the consumption of aerosol in the manufacturing sector. The expansion of this sector is attributed to the huge investments and sudden shift of manufacturing base, owing to the easy availability of raw materials and cost-effective labor, in these emerging economies. The household, personal care, medical, automotive, industrial, food, and paints and coatings sectors in these countries utilize aerosol in high amount in the production of numerous products.
Moreover, increasing shift toward herbal or organic aerosol products will fuel the aerosol market at 6.4% CAGR during 2020–2030. The market size is expected to rise from $81.1 billion in 2019 to $149.7 billion by 2030. Manufacturers of personal care and cosmetic products are utilizing organic aerosol instead of chemicals to reduce harmful effects on the skin. The harmful chemicals can lead to skin disorders like blemishes, acne, and rashes. Owing to these problems, customers are switching to items that are prepared from natural and herbal floral extracts, blended with essential oils.
In recent years, several players, such as Akzo Nobel N.V., Grillo-Werke AG, Arkema Group, Emirates Gas LLC, Linde Plc, Diversified CPC International, Honeywell International Inc., Royal Dutch Shell p.l.c., and Henkel AG & Co. KGaA, have launched an array of novel and advanced products and collaborated with other companies to gain a competitive edge in the market. For instance, in July 2020, Honeywell International Inc. entered into a collaboration with Vesismin Health, to offer a non-flammable, environmentally preferable, and easy-to-use aerosol solution to disinfect areas against viruses, fungi, and bacteria.
The aforementioned players produce various types of products to meet the demands from several end-use industries. Categories under the product type segment of the aerosol market include hydrocarbons, dimethyl ether (DME), and nitrous oxide and carbon dioxide. Among these, the hydrocarbons category will hold the largest market share in coming years. Hydrocarbons like isobutane, propane, and butane help in maintaining a constant pressure and offer 85% can space to products, thereby, optimizing the output. All these factors will fuel the growth of the market in this category during the forecast period.
Geographically, the European region accounted for the largest consumption of aerosol in 2019. This is majorly due to the high demand for aerosol from the personal care industry for the production of skin care products. In addition, the household, industrial, and automotive sectors also use this substance in large quantities. Thus, with the growth of these end-use industries, the consumption of aerosol is expected to amplify in the coming years in the region.
On the other hand, during the forecast period, the Asia-Pacific aerosol market will witness the fastest growth in the forecast years. This can be ascribed to the surging awareness regarding cosmetic products such as antiperspirants and deodorants, hair care items like conditioners and shampoos, men’s grooming products, and bath and shower related items like liquid soaps and shower gels. Besides, the increasing consciousness about physical appearance and a notable rise in disposable income will act as catalysts for the market growth in the region.
Thus, the rising preference for organic cosmetics will boost the consumption of aerosol in the coming years.
The Wall