The global aerosol valves market size is projected to reach USD 1.63 billion by 2025 expanding at a CAGR of 4.2% over the forecast period
NEW YORK, Aug. 13, 2019 /PRNewswire/ -- Aerosol Valves Market Size, Share & Trends Analysis Report By Application (Household, Food, Personal Care, Automotive & Industrial, Food, Paints, Medical), By Region (North America, APAC, Europe), And Segment Forecasts, 2019 - 2025
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The global aerosol valves market size is projected to reach USD 1.63 billion by 2025 expanding at a CAGR of 4.2% over the forecast period Increasing product penetration in the healthcare industry for products, such as asthma inhalers and other types of sprays, is expected to boost the demand over the forecast period. Growing consumption of personal care and household products in various countries is also anticipated to drive the product demand. In addition, the introduction of innovative personal care and household products by FMCG manufacturers, such as P&G, is expected to augment the demand for aerosol components including valves.
The components used for the manufacturing of aerosol valves, such as gaskets, seals, springs, and dip tubes, are available in abundance owing to the presence of a large number of manufacturers.In addition, low product differentiation enables easy supplier switching at a low cost.
The combined effect of this has resulted in low bargaining power of suppliers.Companies in the industry are focusing on product innovation for the development of eco-friendly components using latest aerosol technologies.
Over the past few years, there has been a shift from traditional manufacturing to enhanced sustainability, which includes reduced use of energy and raw materials.
Further key findings from the study suggest:
• Continuous valves accounted for 35.76% of the global revenue share in 2018 due to its increased penetration in personal care products like deodorant cans, shaving creams, and waxes
• The consumption of the product in automotive & industrial segment is expected to grow at 5.6%, in terms of revenue, from 2019 to 2025 owing to high demand for aerosol lubricants and greases by various manufacturing industries
• The Asia Pacific accounted for 19.47% of the global revenue in 2018 due to increased consumer spending on personal care products and rising demand for automobiles in India and China
• Some of the companies in the industry include DS Corporation, LINDAL Group, Coster Tecnologie Speciali S.p.A., Precision Valve Corporation, and Summit Packaging Systems.
• Most of them focus on offering customized products, such as engraved client logo on the actuator head, to obtaining a significant share in the global aerosol valves market
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