SAN FRANCISCO, September 28, 2016 /PRNewswire/ --
The global metal aerosol can market size is expected to reach USD 3.81 billion by 2024, according to a new report by Grand View Research, Inc. Growing demand for the product in personal care products including hair sprays, hair mousses, and hair gels and household sprays is expected to propel growth over the forecast period.
Increasing demand for portable household products such as insecticides and bug sprays is likely to drive the demand for the product over the projected period. In addition, increasing demand for food & beverage, auto care, and industrial aerosol products majorly due to rising disposable income coupled with population growth is expected to drive the demand for such containers. Furthermore, the growth of the end-use industries such as automotive and cosmetics is expected to drive the demand for the product over the projection period. However, concerns regarding toxicity of the propellants used in such containers are expected to act as a major restraint for industry growth.
The major players in the market resort to new product development as a major strategy for market domination. Furthermore, these manufacturers including Ardagh Group, Ball Corporation, and Crown Holdings Inc. operate their business through a well-established production and distribution network spread across major consumers such as the UK, the U.S., and China. The propellant and product filling companies in the market are strategically placed close to the manufacturing location in order to minimize the lead time.
The global metal aerosol can market is challenged by certain key factors including highly volatile metal prices which pose a significant threat to an aerosol can manufacturers by diminishing their margins. As a result, production volumes and revenues are highly elastic to raw material price levels which in turn impact the market growth. In addition, the various environmental compliance requirements also pose challenges to the can manufacturers worldwide. However, the rapid growth of application industries and the resultant hike in demand for metal aerosol cans are expected to help manufacturers cope with these challenges during the forecast period.
Browse full research report with TOC on "Metal Aerosol Can Market Analysis By Application (Personal Care, Household) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/metal-aerosol-can-market
Further key findings from the report suggest:
- Personal care accounted for over 55% of the total revenue due to substantial demand for the product for deodorants, dry shampoos, body sprays, and hair color sprays. In addition, growing consciousness regarding personal hygiene is expected to drive the demand for personal care aerosol cans over the projection period.
- Europe accounted for over 35% of the consumption volume in 2015 due to high demand for personal care and household products coupled with the presence of a large number of propellant fillers. In addition, the demand for the product is expected to be driven by flourishing automotive industry in Germany.
- Asia Pacific is expected to register a CAGR growth of over 5% from 2016 to 2024 owing to increasing disposable income coupled with rapid development of the application industries. The abundance of low-cost raw material coupled with the presence of a dominant manufacturing base primarily in China is expected to lower the production cost of the product, leading to increased demand.
- Key participants include Ball Corporation, Crown Holdings Inc., and The Ardagh Group. Crown Holdings introduced EarthSafe Dispensing system that replaced hydrocarbons with compressed air as the propellant in a bid to provide an environment-friendly cans. The company also produced a bi-compartmented technology that prevents interaction between the propellant and product.
Grand View Research has segmented the global metal aerosol can market on the basis of application and region:
- Application Outlook (Volume, Million cans; Revenue, USD Million, 2013 - 2024)
- Personal Care
- Regional Outlook (Volume, Million cans; Revenue, USD Million, 2013 - 2024)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- North America
Browse related reports by Grand View Research:
- Waterproofing Membrane Market - http://www.grandviewresearch.com/industry-analysis/global-waterproofing-membranes-market
- Europe Carpet Market - http://www.grandviewresearch.com/industry-analysis/europe-carpet-market-analysis
- Gypsum Board Market - http://www.grandviewresearch.com/industry-analysis/gypsum-board-market
- Europe Aerosol Container Market - http://www.grandviewresearch.com/industry-analysis/europe-aerosol-container-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.