“The global aerosol market is anticipated to surpass USD 120 billion by 2030 while growing at a lucrative CAGR of 5.9% during the forecast period from 2020 to 2030”, says Visiongain
09 January 2020
Visiongain’s new report Aerosol Market Report 2020-2030: Forecasts by Application (Automotive & Industrial, Food, Household, Personal Care, Paint, Medical, Others), and by region and analysis of leading companies operating in this industry.
The global aerosol market is anticipated to surpass USD 120 billion by 2030 while growing at a lucrative CAGR of 5.9% during the forecast period from 2020 to 2030.
Increasing aerosol penetration in applications industries such as automotive, food & beverage, and households will offer significant growth opportunities for revenue generation over the forecast period from 2020 to 2030. Aerosols are used as a lubricating spray that penetrates deeply to displace moisture, leaving an oily film inhibiting rust. The material is suitable for use in building, commercial, agricultural, marine and automotive applications. The rapid development of infrastructure coupled with rapid urbanization in emerging economies would fuel consumer demand for aerosols.
Aerosol has significant applications in the cosmetics industry, particularly in the segments of hair care, personal care, and body care. It is used in hair care products to ensure the shiny effect, cleaning, and a better hairstyle. It is used in the base of soap, toothpaste, foams, gels, and deodorants in personal care products. The preliminary factors flourishing the cosmetics industry worldwide are increasing preference for maintaining a youthful appearance along with rising health awareness.
Adverse effects of pollution on hair and skin have increased young people's awareness of these products. Due to increased contamination and its adverse effects on hair and skin conditions, safe cosmetic products are in demand. However, in the near future, the side effects of these products on human health may limit the cosmetics industry.
In the year 2018, the personal care segment dominated the market with over 35% market share owing to the growing demand for hair care and deodorants. In emerging countries, the demand for personal care products is growing due to changing lifestyles and growing expenditure on cosmetic products among others.
The growth of the household sector is owed to growing living standards, especially in developing regions. This has contributed to the growth of household products such as cleaners, sanitizers, air fresheners & disinfectants. The usage of these products reduces waste and increases the longevity of these products.
One of the major application segments in the automotive and industrial segments. The growing consumer awareness towards vehicle appearance & maintenance is boosting demand for products such as spray paints & cleaning agents for vehicles.
In the year 2018, Europe dominated the global aerosol market capturing over 25% market share. Its dominance is attributed primarily to the high consumption of cosmetics, the rapid expansion of the perfume industry and increased consumer expenditure. Despite growing personal care demand, the European market's growth is challenged by the regulations set by the European Commission and the Environmental Protection Agency (EPA) on Volatile Organic Compounds (VOC) emissions.
Asia Pacific aerosol market is anticipated to witness a lucrative growth rate over the forecast period owing to the promotion of favorable investments by Chinese and Indian governments in the region. Also, growing expenditure in emerging Asian economies is boosting demand for personal care, automotive, and painting products thus fueling aerosol demand.
Some of the key Aerosol market players include Akzo Nobel N.V., Beiersdorf AG, Coster Tecnologie Speciali S.p.A., Crabtree & Evelym, Estee Lauder, Henkel, Honeywell International, Oriflame Cosmetics S.A., Procter and Gamble, Reckitt Benckiser, S.C. Johnson & Son, Inc., Thymes, LLC, Unilever among other prominent players.
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Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.
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