Aerosol Valves Market Growth & Trends
The global aerosol valves market size is projected to reach USD 1905.5 million by 2030 expanding at a CAGR of 3.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing product penetration in the healthcare industry for products, such as asthma inhalers and other types of sprays, is expected to boost the demand over the forecast period. Growing consumption of personal care and household products in various countries is also anticipated to drive the product demand. In addition, the introduction of innovative personal care and household products by FMCG manufacturers, such as P&G, is expected to augment the demand for aerosol components including valves.
The components used for the manufacturing of aerosol valves, such as gaskets, seals, springs, and dip tubes, are available in abundance owing to the presence of a large number of manufacturers. In addition, low product differentiation enables easy supplier switching at a low cost. The combined effect of this has resulted in low bargaining power of suppliers. Companies in the industry are focusing on product innovation for the development of eco-friendly components using latest aerosol technologies. Over the past few years, there has been a shift from traditional manufacturing to enhanced sustainability, which includes reduced use of energy and raw materials.
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Aerosol Valves Market Report
Aerosol Valves Market Report Highlights
- The continuous segment accounted for the largest revenue share of 35.5% in 2022. This is due to the benefits continuous aerosol valves offer such as ease of use and efficient product distribution.
- The metered segment is estimated to register a CAGR of 3.8% over the forecast period, owing to the increase in demand for consumer products such as household cleaners, and automotive products.
- The personal care segment held the largest revenue share of 34.3% in 2022. The segment is driven by the growing demand for personal care products in emerging economies owing to the changing lifestyle, rising consumer spending, and emphasis on gender-specific products.
- Europe dominated the market and accounted for the largest revenue share of 38.2% in 2022. Continuous technological improvement in aerosol valve design has led to the development of more efficient aerosol valves.
- Asia Pacific is expected to grow at a CAGR of 4.3% during the forecast period, owing to the strong economic growth in countries like India and China.
