Summary - A new market study, titled “Global Aerosol Propellants Market 2019-2026” has been featured on WiseGuy Reports.
AEROSOL PROPELLANTS MARKET
Global Aerosol Propellants Market is expected to grow at a CAGR of 5.1% to reach a market value of USD 6.1 million by 2026.
Aerosol propellants utilizes compressed or liquefied gas to fuel the active constituents in paste form, powder form and liquid form in short spray patterns along with regulated droplet volumes and amounts. They are used in producing antiperspirants, shaving creams, hair mousse, air fresheners, automobiles products, industrial items and technical items.
Growing skincare industry in emerging economies is also impelling the demand for aerosol propellants. Moreover, increasing demand for fragrances due to rise in the spending power of consumers is fueling the growth in the market.
Market Dynamics: Drivers, Restraints, Opportunities Challenges
The global Aerosol Propellants market is primarily driven by advancement in technology and technical innovations which has created environment friendly, lower prices and lower VOC items. In addition to this, rise in old age population has driven the utilization of aerosol in anti-ageing cosmetics that have further added to growing demand for aerosol propellants. But, different ecological as well as health hazards related to the utilization of aerosol propellants in the aerosol items are predicted to inhibit the growth of the global aerosol propellant market in future.
Rise in disposable income, rapid urbanization and increasing health awareness have changed the lifestyle of consumers in developed and developing regions. Owing to the rising demand in numerous personal care applications including skincare, hair care, antiperspirants, deodorants, etc., there is an increasing adoption of aerosol propellants. Various environmental organizations are also facilitating the adoption of some eco-friendly aerosol propellants. For example, U.S. Environmental Protection Agency (EPA) has permitted the use of hydrocarbon aerosol propellants considering its zero risk toward ozone layer depletion. Moreover, increasing aging population is expected to boost the market due to the rising consumption of anti-aging cosmetics containing aerosol propellants.
Also Read: https://www.openpr.com/news/2093185/aerosol-propellants-market-2020-covid-19-impact-on-global
However, EPA has imposed conditional restrictions on the manufacturing and usage of various aerosol propellants including hydrochlorofluorocarbon (HCF), Dimethyl Ether (DME) due to their adverse effect on health and environment. This is expected to hinder the global aerosol propellants market growth during the forecast period.
Key Segments
Global Aerosol Propellants Market, By Application:
• Personal Care
• Household
• Automotive & Industrial
• Medical
• Others.
In 2018, Personal care segment holds the biggest market share in the global aerosol propellant market. It is expected that personal care will continue to dominate the market with steady CAGR during the forecast period. Factors like increased demand for items like deodorants, skin care products, antiperspirants, infant care and hair care, will further fuel the growth in the market.
Also rising demand for aerosol propellants in medical uses like inhalers is anticipated to boost the demand and growth of the global aerosol propellant market during the forecasted period.
Global Aerosol Propellants Market, By Type:
• Compressed Gas Propellants (Carbon dioxide, Nitrous oxide, and Nitrogen)
• Liquefied Gas Propellants (Hydrocarbons, Fluorocarbons, And Ethers).
Among all aerosol propellant, hydrocarbons propellants, such as propane, isobutene and n-butane have low cost, less toxicity and high stability; therefore, these propellants caters wide range of applications in various industries.
Geographic Landscape:
By geography, the global Aerosol Propellants market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and Middle East and Africa (MEA).
In 2018, Europe accounted for the majority share in the Global Aerosol Propellants Market. Major contributors to the regional market are U.K, France, and Germany. However, the region is anticipated to witness a moderate growth during the forecast period due to sluggish growth of end users and economic slowdown.
South America and APAC regions are estimated to register a significant CAGR owing to reviving economy and high growth potential of India, China and Brazil. APAC is the fastest growing market among them, owing to the presence of dynamic and emerging economies in the region such as India, Japan, China, Singapore and South Korea. This is owing to the heavy demand & growth of homecare items and personal care products like hair gels, antiperspirants and air fresheners.
North America is the second largest market in the Global Aerosol Propellants Market after Europe. The US is leading the market in this region, which is attributed to huge demand of personal care and household products.
Competition Landscape
Aerosol Propellants market is highly competitive and thus manufacturers continuously focus on developing new strategies in order to grab more number of customers across the globe. Over the coming years, companies are expected to focus on potential growth markets for Aerosol Propellants. To that end, besides expanding their presence, companies are expected to formulate effective distribution strategies to make their presence felt in the upcoming markets for Aerosol Propellants. Merger, acquisition and product development are key strategies adopted by leading players.
The major players include Royal Dutch Shell Plc, Arkema Group, National Gas Company SAOG, Akzo Nobel N.V., and Aveflor A.S. Other prominent players in the market are Honeywell, Grillo Werke AG, Aeropres Corporation, BOC Industrial Gases UK, and Emirates Gas LLC.
The market holds immense future potential as increasing technological advancements and development by various companies are underway for the production of low-cost and eco-friendly aerosol propellants.
For instance, Honeywell launched full-scale commercial production of a low-global-warming-potential (GWP) material for use as an aerosol propellant, insulating agent and refrigerant at its Flourine Products Baton Rouge production facility in Louisiana (US). The material is known by the industry designation HFO-1234ze and is marketed by Honeywell under its Solstice line of low-global-warming materials.
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Market OverviewsThe Global Aerosol Propellants Market is expected to grow at a CAGR of 4.9% during the forecasting period (2020-2027).Aerosol propellants utilize compressed or liquefied gas to fuel the active constituents in paste form, powder form and liquid form in short spray patterns along with regulated droplet volumes and amounts.
They are used in producing antiperspirants, shaving creams, hair mousse, air fresheners, automobiles products, industrial items, and technical items.The growing skincare industry in emerging economies is also impelling the demand for aerosol propellants.
Download free sample: https://www.datamintelligence.com/download-sample/aerosol-propellants-market Market DynamicsThe global Aerosol Propellants market is primarily driven by advancement in technology and technical innovations which have created environmentally friendly, lower prices, and lower VOC items.
Various environmental organizations are also facilitating the adoption of some eco-friendly aerosol propellants.
Moreover, an increasingly aging population is expected to boost the market due to the rising consumption of anti-aging cosmetics containing aerosol propellants.However, EPA has imposed conditional restrictions on the manufacturing and usage of various aerosol propellants including hydrochlorofluorocarbon (HCF), Dimethyl Ether (DME) due to their adverse effect on health and environment.
Segmentation AnalysisBy application, the global Aerosol Propellants Market is segmented into Personal Care, Household, Automotive & Industrial, Medical, and Others.
Many companies have introduced a number of tomorrow's technologies to give care to patients remotely, help with different physical therapies, and execute surgeries.
The University of Illinois roboticist recently got a $1.5 million grant from the National Science Foundation to study the concept of designing little autonomous drones to carry out simple house actions, like taking a bottle of medicine from a next room.
Scientists say that the idea might seem embarrassing to many, and they believe that drones will be safe and will become everyday helpers in elder care within several years.
An aging population will set a huge load on the world’s healthcare system by 2050, demographers say.
Now 14 percent of the world’s population is older than 65, a great contrast with the 9% of the population that is less than 5 years old.
Isolation is one of the most disagreeable problems for older adults, and there is proof that human contact can postpone intellectual recession.
The average age is around 28.9 years.
Ethnic diversity is quite diverse on a fractionation scale which for Kuwait is 0.6604.
For details on the language, religion, age, gender distribution and development of the people of Kuwait, read the sections below and visit the section on education in the country.PopulationIn Kuwait, the population density is 201 people per square kilometer (523 per square mile).
Immigrants to Kuwait make up 1.3 percent of the total number of immigrants worldwide.
Specific cultural characteristics, alone or in combination, can relate to language, skin color, religion, ethnicity, customs and traditions, history or other characteristic criteria.
In addition to Islam, there are several other religions in the country.
Rising awareness of health and hygiene and increasing the purchasing power of consumers are the major drivers of the global breathable films market during the forecast period.Breathable films are thin films with a characteristic property of allowing vapor to pass through while retaining the liquid.
They are manufactured using various polymers such as polyethylene (PE), polyurethane (PU), polypropylene (PP), and polyester along with mineral fillers such as calcium carbonate.
The huge demand for medical supplies due to COVID-19 pandemic has increased the production of masks, personal protective equipment (PPE) kit, and other medical supplies which was mainly catered by China.
The new products offer higher permeability and water resistance compared to other breathable products.In July 2019, Schweitzer-Mauduit International added a TPU film line at its manufacturing site in Suzhou, China, to support the demand for protective film in China and APAC region.
The consumption of breathable films in this application is growing due to the increased use of breathable films in the manufacturing of surgical drapes, surgical gowns, patient gowns, back-table covers, operation bed covers, mayo stand covers, and gloves.
This is fuelled by rising demand for healthcare facilities and increasing per capita spending in healthcare in the developing countries and increasing old age population and increased usage of disposable drapes and gowns in the developed countries.The COVID-19 pandemic has further strengthened the growth of breathable films in the medical application.
