Graphical Research

Global Aerosol Propellants Market to Grow 4.5%+ CAGR by 2024: Honeywell, DuPont, Covestro, Lapolla Industries, Inc., AkzoNobel and Aeropres Corp

Global Aerosol propellants market is predicted to reach 14.5 million tons by 2024 due to growing demand across personal care products such as deodorants, shampoos, body sprays, etc., increasing application in the automotive industry, and rising infrastructural spending.

 

Pune, Maharashtra -- (SBWIRE) -- 12/26/2018 -- The report "Global Aerosol Propellants Market Share based on Product, Application, Regional Outlook, Growth Trends, Competitive Landscape & Forecast 2018 to 2024" by Graphical Research. says, Global Aerosol Propellants Market demand predicted to grow at 14.5 million tons by 2024.

Growing consumer awareness pertaining to the personal and household hygiene is boosting the demand for aerosol propellants for use in various products such as teeth whitening, breath freshener, mouthwash, etc. Also, the rapidly expanding automotive industry is another factor positively influencing the industry share owing to the rising demand for spray paints in the automotive and construction sector. It is estimated that Global Passenger and Commercial vehicle sales are estimated to grow at a CAGR of 5% and 3.5% over 2016-2024, reaching an approximate sales figure of 88 million units and 32 million units by 2024, respectively.

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However, environmental and health hazards pertaining to the use of these products may hamper the industry growth over the forecast timeframe. The focus is shifting towards lower VOC content based propellants such as hydrocarbons which minimizes the risks of global warming due to null ozone depletion potential and lower atmospheric residual time.

The market is segmented in terms of products, applications, and regions. Aerosol propellant market size in personal care industry accounted for a volume of over 4 million units in 2017, and is estimated to cross around 6 million units by 2024, at a CAGR of around 4%. Increasing application in personal care products such as skin care creams, deodorants, antiperspirants, etc. is estimated to fuel the market growth.

Automotive & Industrial application is forecast to grow at a CAGR of around 4.5% over 2018-2024.Rising demand for adhesives & sealants and lubricants in the automotive industry is likely to drive the segment growth.
Aerosol propellants application in the food industry is projected to register a CAGR of 5.2% from 2016-2024. Household application segment, which accounted for over 6% of the overall share in 2017, will also witness noticeable growth in the coming years, owing to its extensive use in shoe polish, pre-wash sprays, cleaning agents, stain removers, air fresheners, anti-static sprays, disinfectants, etc.

The regional segment covers North America, Asia Pacific, Europe, Latin America, and MEA.

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Asia Pacific market is estimated to grow at a CAGR of around 5.5% over 2018-2024. The growth can be attributed to the increasing infrastructure spending coupled with the rise in the automobile industry across this region. India and China are estimated to be the major revenue pockets.

Key industry participants include Honeywell, DuPont, Covestro, Lapolla Industries, Inc., AkzoNobel, Aveflor, Harp International, and Aeropres Corp.

Segments We Cover:

Aerosol Propellants Market Forecast By Product
Hydrocarbons
Dimethyl ether (DME) and methyl ethyl ether
Nitrous oxide and carbon dioxide
Others

Aerosol Propellants Market Analysis By Application
Personal Care
Househols
Automotive & Industrial
Foods
Paints
Medical
Others

The above information has been provided for the following regions:
North America
Europe
Asia Pacific
Middle East & Africa (MEA)
Latin America (LATAM)

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