Aerosol Propellants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Aerosol Propellants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for aerosol propellants is expected to register a CAGR of greater than 4% globally during the forecast period. Aerosol propellants are liquefied or compressed gas in a container to propel active ingredients in liquid, paste, or powder form in precise spray patterns with controlled droplet sizes and amounts.

Key Highlights

• These are used in numerous industrial and consumer goods, such as automobile, industrial and technical, shaving creams, air fresheners, and deodorants/antiperspirants.
• The increasing demand from the personal care industry and the growing applications in the food and beverage industry are expected to drive the market during the forecast period.
• On the flip side, the stringent regulations by the government and international organizations are expected to hinder the market growth. Moreover, the unfavorable conditions arising due to the COVID-19 outbreak is also expected to hamper the market growth.

Key Market TrendsPersonal Care to Dominate the Market

• The range of applications for propellants in personal care aerosol products is extensive and growing. Some of these applications include haircare, shaving creams deodorants and antiperspirants, infant care products, and body sprays.
• Rising adoption of the aerosol-based in cosmetics, pharmaceuticals, and personal care products is likely to surge the growth. The growing skincare industry in emerging economies is also fueling the demand for aerosol propellants.
• Moreover, the increasing demand for colognes and perfumes, owing to the rise in the spending power of consumers, is boosting the growth.
• However, due to several regulatory requirements regarding the release of volatile organic compounds (VOC) emissions and ozone depletion potential (ODP), the usage of chlorofluorocarbons (CFCs) as propellants has been phased out in numerous countries of Europe, North America, and Asia-Pacific.
• The industries are moving toward propellants that are low-VOC, zero-ODP, and safe for people. Such high-quality propellants are widely used in aerosol formulations.

The Europe Region to Dominate the Market

• The European region is expected to dominate the market, owing to the presence of a robust manufacturing base of cosmetic products in economies, such as the United Kingdom, Germany, Spain, and France.
• Furthermore, the region witnessed an increase in the demand for personal care products, such as spray-on, deodorants, spray-on cosmetics, and dry shampoos and household products, such as cleaners, furniture cleaners, and mosquito repellants. This factor should drive regional industry growth.
• Germany is the largest market for personal care and cosmetic products in Europe. According to Cosmetics Europe, the country’s market accounted for more than EUR 14 billion in 2019. The country is also one of the major exporters of personal care and cosmetic products across the world.
• The European Union has strict regulations for the usage of HFCs with specific limits of Global Warming Potential (GWP). The region is planning to completely phase out the consumption of HFCs by 2030.
• Companies, like Honeywell, Arkema, and Chemours, are coming up with products which have very low GWP. This is expected to increase the demand for other alternatives, such as nitrogen, DMEs, and carbon dioxide.

Competitive Landscape

The global aerosol propellants market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Royal Dutch Shell PLC, Honeywell International Inc., Arkema Group, The Chemours Company, and Nouryon.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Aeropres Corporation
Arkema Group
Aveflor AS
BOC
Diversified CPC International
Emirates Gas LLC
Grillo Werke AG
Honeywell International Inc.
Jiutai Energy Group
Nouryon
Royal Dutch Shell PLC
Shanghai Cal Custom Manufacturing & Aerosol Propellant Co. Ltd
The Chemours Company

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.