FELTON, California, October 3, 2017 /PRNewswire/ --
The aerosol propellants market was estimated at USD 7.26 Billion in the year 2015. The market is likely to increase during the forecast period, owing to the development and utilization of superior propellant formulations that offer improved product dispensing capabilities.
The industry comprises numerous manufacturers across the globe, who are focusing on the development of advanced products to expand their business and hence enhance their presence as key players and improve their global reach. The industry is likely to see substantial growth over the years ahead, as a result of increased penetration of aerosol cans in various application sectors including medical, automotive, food processing and paints. Owing to the heavy demand of aerosol cans in health and hygiene associated products like insect repellants and air fresheners, this in turn is likely to increase the demand for propellants over the years ahead. Additionally, rapid urbanization along with infrastructural developments in countries like the UAE, India and China is expected to boost the consumption of cans and thus propel the product demand.
Methyl ether and dimethyl ether, one of the key product segments are estimated to witness growth at a CAGR of 6% during the forecast period, as these products exhibit low global warming potential and no damage to the ozone layer. Due to the superior performance and reduced costs of the product, the demand for DME based blends is likely to increase the usage of can fillers thus enhancing the product consumption.
Due to the factors including low environmental damage and higher stability the consumption of aerosol propellant gases is expected to rise over the years ahead. The utilization of nitrous oxide is highly regulated due to its adverse effects on health of humans.
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Increased usage of floor cleaners and insect sprays is considered to drive the product consumption in the household application segment. The demand for spray cleaners has also increased due to the boom in disposable income of consumers and noticeable changes in lifestyle of consumers which has increased the demand for products like wall coverings, furniture and others.
The Asia Pacific market is expected to show the fastest growth owing to a couple of socio-economic factors such as increase in disposable income and change in consumer lifestyles. Significantly rising use of various personal care products such as hair styling sprays and deodorants, among consumers is likely to boost the product consumption in the future. The marketis expected to see a huge growth due to availability of low cost product formulations, as a consequence of decreased costs of raw material and low cost labor.
E.I. DuPont de Nemours and Company, BOC Industrial Gases, Harp International, Grillo-Werke GmbH, ExxonMobil, Unigas Europe, Aerosol Gas Ltd., and Covestro AG are a couple of the prominent players operating in the global market.
Companies such as Honeywell International Inc., Royal Dutch Shell Plc are engaged in the manufacturing of advanced products in order to expand their business portfolio. For instance, Crown Holdings Inc., developed a system called EarthSafe Dispensing System which substitutes hydrocarbons with compressed air as the propellant. Moreover, the product developed by Ultramotive Corporation, a US based packaging systems manufacturer permits total aerosol product evacuation at consistent flow rates from beginning to end.
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Product Outlook (Volume, Kilo tons; Revenue, USD Million, 2014 - 2025)
- Dimethyl Ether (DME) & Methyl Ethyl Ether
- Nitrous Oxide and Carbon dioxide
Application Outlook (Volume, Kilo tons; Revenue, USD Million, 2014 - 2025)
- Personal Care
- Automotive & Industrial
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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