Aerosol Market Growth & Trends
The global aerosol market size is anticipated to reach USD 131.9 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 6.6% during the forecast period. The rising demand for aerosol products from various end-use industries, such as personal care, household, automotive and industrial, and medical, is anticipated to drive the growth. Aerosol paints are being increasingly used for automotive as well as architectural paint applications. Uniform propulsion, ease of application, and aesthetic appeal of aerosols are key factors driving their demand in architectural and automotive paint end-use industries.
Furthermore, the rapidly expanding construction sector, especially in developing countries such as India, China, Vietnam, and Indonesia, is expected to further fuel the product demand in paint application. Globally, the cases of respiratory diseases, such as asthma and Chronic Obstructive Pulmonary Disease (COPD), have considerably increased over the past several years, majorly due to the changing lifestyle and rising geriatric population. The growing cases of such respiratory diseases are principally driving the demand for aerosol-based inhalers. In addition, high demand for various pain relief sprays owing to their convenience of application is further anticipated to expand the market growth in the coming years. Asia Pacific is among the significant regional markets.
The rising demand for personal care products from developing countries is anticipated to propel the demand for aerosol. In addition, increasing awareness regarding cleanliness and hygiene is boosting the growth of household products like cleaners, sanitizing agents, and air fresheners. The growing demand from Asia Pacific is encouraging aerosol manufacturers to increase their production. For example, in February 2019, Vanesa Care announced plans to set up its fourth manufacturing facility in India. The global market is highly competitive with numerous players involved in acquisitions and expansions. In addition, they also conduct R&D for the emerging sectors, such as household and personal care.
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Aerosol Market Report
Aerosol Market Report Highlights
- The personal care application segment accounted for the largest revenue share in 2021 due to extensive usage of aerosol in deodorants, hair mousses, hair sprays, and others due to its convenience, which contributed to the growth of this segment
- The automotive & industrial application segment is anticipated to grow at a steady CAGR from 2021 to 2030 due to increasing preference for aerosol-based greases and oils by the automobile service stations
- Asia Pacific is estimated to be the fastest-growing regional market from 2021 to 2030 on account of the rising penetration of retail, growing construction activities, and increasing sales of automobiles
- The market in Europe is expected to witness sluggish growth in the coming years owing to the regulations regarding Volatile Organic Compounds (VOCs) emissions imposed by the European Commission and Environmental Protection Agency (EPA)
- The global market is highly competitive owing to the presence of major players like Proctor & Gamble, Reckitt Benckiser, etc.
