-- Global Aerosol Propellants Market is anticipated to reach USD 24.8 billion by 2020, as per a new research report by Radiant Insights, Inc. Increasing popularity of personal care and cosmetics products such as hair sprays, deodorants and shaving creams among young population is likely to drive the demand. Increasing geriatric population is also expected to positively influence demand for anti-ageing products particularly in U.S., Europe and Japan.
Increasing infrastructure spending in emerging economies such as China Indonesia and India is likely to drive its demand for spray paint applications. Favorable support from regulatory bodies such as U.S. Environmental Protection Agency (EPA), as they not contribute towards global warming, is likely to surge demand.
Hydrocarbons dominated the product segment and accounted for over 80% of the market demand in 2014. Ethane, propane, n-butane and isobutene are used as hydrocarbon propellants and are comparatively low cost and less toxic when compared to other counterparts. This factor is likely to increase hydrocarbon propellants demand. DME and methyl ethyl product was the second largest with an estimated market valuation of approximately USD 1.87 billion in 2013.
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Key report insights suggest:
• Global aerosol propellants market demand was estimated at 9.14 million tons in 2013 and may register 12.5 million tons by 2020 growing with an estimated CAGR of 4.6% from 2014 to 2020.
• Personal care dominated the application segment with an estimated market share of 37.6% in 2013. Increasing application scope for products such as skin care, infant care, hair care and antiperspirants is likely to drive the market. Household application was the second largest and is likely to witness high growth rates with a CAGR of 4.9% from 2014 to 2020.
• Europe dominated the regional market demand with an estimated share of 37.15% in 2013. Growth of personal care industry in countries such as Germany, Spain and France is likely to drive Europe’s demand. Asia Pacific is anticipated to be the fastest growing region with a CAGR of 5.6% from 2014 to 2020. Increase in residential & commercial spending in countries like India and China is expected to drive this region’s demand.
• Aerosol propellants industry is highly fragmented and is characterised by MNCs and domestic manufacturers. Some of the industry participants include Bayer, Honeywell, AkzoNobel and DuPont. Other prominent companies include Aeropres Corporation, Lapolla Industries, Aveflor and Harp International.
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Global Aerosol Propellants Product Overview (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
• Hydrocarbons
• DME and Methyl Ethyl Ether
• Nitrous Oxide and Carbon Dioxide
• Others
Global Aerosol Propellants Application Overview (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
• Personal Care
• Household
• Automotive & Industrial
• Foods
• Paints
• Medical
• Others
Global Aerosol Propellants Regional Overview (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
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