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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 rising consumer preference of high-performance and lightweight electronic products is driving the demand for conductive polymers across the world. These polymers are extensively used in wearable and flexible electronics, cell phones, various flexible inorganic semiconductors, laptops, displays, and other gadgets. With the surging income of people in emerging economies, such as China, the use of conductive polymers in the manufacturing of lightweight electronic products will shoot up in the forthcoming years.
Besides, the ballooning requirement for conductive polymers in the fields of healthcare, chip packaging, medicine production, electromagnetic interference (EMI), display material manufacturing, plastic transistors, sensors, electrical appliances, ultra-capacitors, and electrostatic discharge (ESD) is also expected to propel the progress of the conductive polymers market. Additionally, the burgeoning need for conductive polymers in the field of corrosion control coating, on account of their biodegradable characteristics and conductive ability, is also expected to fuel the surge in the industry’s value from $4,441.7 million in 2017 to $7,341.2 million by 2023.
Furthermore, the market will advance at a CAGR of 8.7% between 2018 and 2023, as per the estimates of the market research company, P&S Intelligence. Inherently conductive polymers, polyphenylene based resins, polyaniline, and polycarbonates are the most widely used types of conductive polymers across the world. Out of these, the requirement for inherently conductive polymers is predicted to rise at the fastest pace in the upcoming years. This is credited to its several applications in electromagnetic interference (EMI)/radio frequency interference (RFI) shielding, antistatic coating, and RFID.
ESD and EMI protection, actuators, capacitors, antistatic packaging, batteries, sensor, solar cells, and batteries are the major application areas of conductive polymers. Out of these, the requirement for conductive polymers was found to be the highest in ESD and EMI protection applications in the past. This was primarily because of the high requirement for the polymers in electronic device protection, owing to their success in the domain of corrosion control coating, on account of their biodegradable characteristics and conductive ability.
Geographically, the demand for conductive polymers is predicted to rise sharply in Europe and North America in the coming years. This is credited to the mushrooming use of these polymers in sensors, batteries, and various electrical applications in the automobile industry. In addition, the rising urbanization rate is also pushing up the demand for conductive polymers in the region. Asia-Pacific and Rest of the World are also witnessing a massive rise in the demand for conductive polymers, owing to their usage in applications, such as capacitors, actuators, sensors, display devices, and textiles.
In the APAC region, the sales of these batteries are predicted to soar massively in China in the upcoming years. This will be because of the existence of several conductive polymer producers, such as Saudi Basic Industries Corporation (SABIC) and The 3M Company, rising requirement for electrostatic coatings on window panes and door panels, especially in the residential construction sector, and booming electronics industry in the country. In the RoW region, the demand for these polymers is soaring in Brazil.
Hence, the demand for conductive polymers will surge sharply in the coming years, primarily because of their growing usage in various electronic appliances.