Aerosol Propellants Market Forecasts to 2030 - Global Analysis By Product, Type, Application, Sales Channel and By Geography

According to Stratistics MRC, the Global Aerosol Propellants Market is accounted for $10.26 billion in 2023 and is expected to reach $18.05 billion by 2030 growing at a CAGR of 8.4% during the forecast period. Aerosol propellants are substances used in aerosol containers to expel the contents under pressure. The aerosol propellants use compressed or liquefied gases in order to propel active ingredients in liquid paste or powder forms in precise spray units to be sprinkled in the differential patterns. They are carried in containers such as bottles or cans. When the container's valve is opened, these gases are released in the form of mist, foam, liquid, or semi-solid forms. Aerosol propellants find various applications including household cleaners, personal care products, medical, and paints.

Market Dynamics:

Driver:

Rising consumer expectations for convenience & ease of use

Aerosol products are favoured for their ease of application. They allow for precise and controlled dispensing of the product. Aerosol propellants create a fine mist or spray, ensuring that the product is distributed evenly. This ease of use makes them convenient for consumers, especially in situations where speed is essential. Also, unlike some other packaging formats, aerosols do not require additional applicators or tools. In some cases, aerosols can reduce direct contact with the product. All these elements propel the growth of the market.

Restraint:

Complex approval & certification process

Pressurised materials like aerosol propellants can be dangerous if not handled carefully. These containers must adhere to strict safety criteria for storage and transit in order to receive proper certification. Manufacturers are required to abide by a broad variety of legal requirements established by agencies like the Food and Drug Administration (FDA), the Environmental Protection Agency (EPA), and numerous international authorities. The approval procedure becomes more complicated as a result, which hinders market expansion.

Opportunity:

Rising usage in personal care products

In the personal care industry, the usage of aerosol propellants is widespread. They are extensively utilized in many formulations. The product is administered in a number of ways to enhance skin and hair care activities. Several products such as deodorants, hair-sprays and others are being consumed by the people globally. The expansion of end use industries coupled with the increase in urbanization and population will further propel the growth rate of market.

Threat:

Risk of allergic reactions

Aerosol propellants can sometimes cause allergic reactions in individuals who are sensitive or allergic to specific chemicals or substances. This may lead to symptoms such as coughing, wheezing, shortness of breath, and nasal congestion. Individuals with asthma may be more sensitive to aerosol propellants, especially if they contain irritants like VOCs or fragrances. Prolonged or repeated exposure to aerosol propellants can, in rare cases, lead to sensitization. All these health concerns with aerosol propellants hinder the market growth.

COVID-19 Impact

The market has undergone fluctuations as a result of the COVID-19 epidemic. Though pandemic disrupted global supply chains, the increased awareness of hygiene and sanitation raised the demand for certain aerosol products, such as disinfectants, sanitizers, and household cleaners. Regulatory bodies introduced new guidelines & regulations related to the production and use of aerosol propellants. The pandemic prompted increased research & development efforts in the aerosol industry, including the development of new and improved propellants that align with changing consumer preferences and regulatory requirements.

The hydrocarbon segment is expected to be the largest during the forecast period

The hydrocarbon segment is estimated to have a lucrative growth, due to its expanding usage in pharmaceutical sector. Hydrocarbons are non-reactive, inexpensive, and low in toxicity. For applications including personal care products, cleaning solutions, and insect repellents, hydrocarbons are essential because of their high propellant efficiency and ability to produce a steady, regulated spray or mist. Additionally, they don't include halogen, making them great water-based aerosols or propellants, which will help their demand throughout the predicted period.

The personal care segment is expected to have the highest CAGR during the forecast period

The personal care segment is anticipated to witness the highest CAGR growth during the forecast period, due to its long shelf life, precision and control. Aerosol products are often compact and easy to carry, making them convenient for on-the-go use. They can be used with a wide range of formulations, including liquids, creams, and foams. This versatility allows for the creation of various personal care products. Also, aerosol packaging can help maintain the sterility of the product by preventing contaminants from entering the container.

Region with largest share:

North America is projected to hold the largest market share during the forecast period. The aerosol propellants industry in North America is competitive with several international and local firms fighting for market share. With the expansion of the automobile sector, the United States and Mexico are speeding up market expansion. Aerosol propellants are heavily used in the personal care and home goods sectors in this area. Additionally, the nation is witnessing a spike in demand for home cleaning products including insecticides and air fresheners due to rising demand for a sanitary environment. These elements are promoting market expansion.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period. There is a significant cosmetics manufacturing industry in the UK, Germany, Spain, and France. In Europe, Germany is the country with the biggest market for cosmetics and personal care items. Companies like Honeywell, Arkema, and Chemours, which are developing products with extremely low GWP, are some of the leading significant participants in this industry. In addition, the demand for domestic goods like cleansers, furniture cleaners, and insect repellents as well as personal care items like deodorants, spray-on cosmetics, and dry shampoo increased in the region.

Key players in the market:

Some of the key players profiled in the Aerosol Propellants Market include: Honeywell International, Inc., Akzo Nobel N.V., Aeropres Corporation, National Gas Company SAOG, Arkema Group, Emirates Gas LLC, Grillo-Werke Aktiengesellschaft, The Chemours Company, Royal Dutch Shell Plc, Nouryon Aeropress, Aveflor AS, Aztec Aerosols, Diversified CPC, Jiutai Energy, Repsol S.A, Shanghai Cal Custom Manufacturing and Harp International.

Key Developments:

In April 2023, AkzoNobel launches new generation fillers to accelerate body shop performance. Bodyshops can now take advantage of a new generation of fillers from AkzoNobel's Sikkens and Lesonal vehicle refinishes brands, which help to significantly improve productivity while lowering energy costs.

In April 2023, Honeywell announced clinical sun care brand myDerm is utilizing Solstice® Propellant (HFO-1234ze) in its latest broad-spectrum sunscreen, Mineral SPF 50 Clinical Sunscreen Continuous Spray.The propellant helps reduce greenhouse gas (GHG) emissions by 99% compared with alternatives commonly used in aerosol products.

Products Covered:

• Hydro Fluoro Carbons (HFC)
• Dimethyl Ether (DME)
• Methyl Ethyl Ether
• Hydrofluoro Olefins (HFO)
• Hydrocarbon
• Compressed Air
• Nitrogen
• Blends
• Carbon Dioxide
• Nitrous Oxide
• Other Products

Types Covered:

• Compressed Gas Propellants
• Liquefied Gas Propellants

Applications Covered:

• Household
• Personal Care
• Paints & Coating
• Medical
• Automotive & Industrial
• Foods
• Dairy
• Other Applications

Sales Channels Covered:

• Manufacturers
• Aftermarket
• Distributors/Service Providers

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances