Global Aerosol Market - Segmented by Application and Geography - Growth, Trends, and Forecast (2018 - 2023)
The aerosol market is likely to witness a moderate growth during 2018-2023 (the forecast period). Asia-Pacific is expected to witness strong demand for aerosol, fueled by increasing investment in the medical industry, increasing automotive production, and growing demand for paints & coatings. Moreover, the increasing awareness about hygiene and increasing demand for personal care products is likely to increase aerosol demand for application in the production and packaging of hygiene and personal care products.
Increasing Awareness Related to Hygiene & Personal Care
Increasing awareness related to personal care has increased the demand for cosmetics, such as deodorants, antiperspirants, cream foundation, hydrating creams, sun protection cream, tanning lotions, hair sprays & styling sprays, hair shines, and others. The demand for products, like shampoo, hair foams & gels, gel toothpastes, etc., has also been growing with the increasing hygiene awareness in the population. With changes in fashion trends, teenagers’ demand for cosmetics also increased substantially in the previous years, especially in Asia-Pacific. Additionally, the strong urge in the aging population to retain a youthful appearance, is further nurturing the growth of the cosmetics industry. Hence, with the growing demand, and thereby, production of cosmetics and hygiene products, the demand for aerosol has also been increasing from the personal care industry.
Automotive Segment Demand Projected to Grow
Aerosol finds number of applications in the automotive industry in the form of paints, cleaners, lubricant cans, spray paints, ignition sealer, etc. In 2017, the global automotive production increased by about 2.36% from 2016, when more than 97 million vehicles were produced globally. The automotive industry is projected to witness about 2% growth in 2018, fueled by increasing demand for lightweight vehicles and SUVs, especially in emerging economies, like China, Japan, India, and others. The expected increase in the production of vehicles is projected to increase the demand for aerosol automotive products, further driving the growth of the aerosol market during the forecast period.
Asia-Pacific to Witness Strong Demand
Asia-Pacific is expected to witness strong growth in the demand for aerosol, driven by increasing demand for personal care products, increasing investments in the medical industry, and increasing automotive production in the region. In Asia-Pacific, China is expected to witness noticeable growth in the demand for aerosol during the forecast period, owing to the robust growth of the automotive industry, increasing furniture production & exports, and increasing construction and architectural projects, which is further likely to increase the demand for paints & coatings.
Key Developments in the Market
September 2017: AkzoNobel NV finalized the acquisition of French manufacturer Disa Technology. The acquisition strengthens AkzoNobel’s global leadership position in supplying innovative industrial coatings and aerospace and automotive coatings.
Major Players: AkzoNobel NV, Henkel AG Co KGaA, Unilever PLC, Honeywell International Inc., and Procter & Gamble, among others.
Reasons to Purchase this Report
To understand the impact of stringent regulations in the global aerosol market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating application in the aerosol market
Region and countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in excel)
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