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Aerosol Market

Aerosol Market

Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

Published Date: Upcoming | Format:

Industry: Chemicals & Materials | Author Name: Harshad

Aerosol Market: Overview

The market size for aerosol was USD 73.1 billion in 2021, and it is projected to grow at a CAGR of 6.3 percent during the forecast period. Personal care products are major market drivers, including deodorants, shaving creams, hair sprays, and body sprays. Aerosols are colloidal systems made up of solids or liquids suspended in gases. A variety of end-use industries rely on aerosols for their convenience of use and aesthetic appearance. Aerosols find used in personal care, household, automotive, industrial, food, paint, and medical industries. The demand for aerosol in household and paint products is expected to be driven by rapid urbanization in emerging economies of Asia Pacific.

Aside from that, the introduction of EPA-approved aerosol cleaning products is expected to boost the market growth. As far as metal packaging is concerned, aerosol-based products have been introduced to improve consumer convenience and address environmental concerns. For example, compressed gases replace hydrocarbons as fuels, and a plastic inner bag separates the product from propellants in bi-compartmental technology. All these factors are expected to propel the growth of the market further. Various food products are increasingly available in aerosol form due to their convenience, including oil, whipped cream, edible mousse, sprayable flavors, etc. As a result of the growing demand for bakery products, such as pies, cupcakes, ice creams, sundaes, cakes, hot chocolate milkshakes, waffles, cheesecakes, and puddings, the demand for whipped cream has grown significantly over the past few years. This is expected to boost the global market's growth in the future.

In addition to the growing demand for personal care products from developing countries, household products such as cleaners, sanitizers, and air fresheners are also expected to grow as awareness about cleanliness and hygiene grow. Manufacturers of aerosols are increasing production in response to the growing demand from the Asia Pacific. For example, according to Vanesa Care, its fourth manufacturing facility was planned for India in February 2019. As well as this, developing construction markets in developing countries, such as India, China, Vietnam, and Indonesia, are expected to fuel further demand for paint application products. Over the past several years, respiratory diseases, such as asthma and Chronic Obstructive Pulmonary Disease (COPD), have significantly increased globally, largely due to lifestyle changes and an aging population. Aerosol-based inhalers are expected to witness a significant increase in demand in the near future, primarily due to the increasing number of respiratory diseases. In addition, pain relief sprays are expected to see a significant increase in demand over the next few years due to their ease of application.

Aerosol Market: COVID-19 Impact

Because of lockdowns and strict government regulations, manufacturing facilities have been temporarily closed during the COVID-19 pandemic. The COVID-19 pandemic has halted economic activity by infecting millions of people across the globe. The industrial aerosol market was severely affected due to the widespread use of aerosols in paints, lubricants, greases, cleaning products, and maintenance sprays. The disruption of supply chains, labor shortages, and operational restrictions have led to the closure of many fast-moving consumer goods companies. However, as Coronavirus has spread rapidly, patients with Coronavirus disease have rapidly increased. Pharmaceutical aerosol, however, played a significant role in COVID-19. The result has been the shift of many patients to extended mechanical ventilation. Aerosol drug delivery devices have been widely used in mechanical ventilation to relieve respiratory symptoms and provide patients with Coronavirus infection with beneficial treatment.

Aerosol Market: Drivers

Growing Use of Aerosol in Automotive Applications to Drive Market Growth

Aerosols are used in various applications in the automotive industry, including cleaners, lubricants, and ignition sealers. Cleaning aerosols are used to clean brakes, carburetors, fuel-injection air intakes, battery terminals, electric motors, carburetors & chokes, electronics, etc., in vehicles. Other aerosol products are used to lubricate chains, citrus, engines, etc. Aerosol containers and cans also store automotive lubricants, polishes, etc. The increasing concern about environmental pollution and continuous research and innovation in the automobile industry has also led to the development of new markets for electric, fuel cell, and hybrid cars. A number of automotive manufacturers produce electric vehicles, including Tesla, BMW, Nissan Motor Corporation, Chevrolet, Kia Motors, and others. Additionally, governments worldwide have been promoting the market for pollution-free vehicles, which further increases automotive production. An increase in vehicle production will, therefore, increase demand for aerosol automotive products, which will fuel the growth of the aerosol market over the forecast period.

There is a Growing Demand for Personal Care Packaging and Pharmaceuticals, Driving Market Growth

Many CPG companies are increasingly using aerosol-based sustainable packaging to enable recycling and reusability of their products. Packaging plays a vital role in consumers' everyday lives as it helps to support their purchasing decisions. A recent study found that aerosol cans for personal care products are 100% recyclable. For better sustainability and cost savings, several leading personal care product manufacturers, such as Procter & Gamble, Unilever, and L'Oréal, recycle and reuse aerosol-based glass, metal, or plastic containers. Because aerosol packaging is airtight, there is less risk of breakage, spills, and leaks. It provides several sustainable and cost-effective benefits to CPG industries. Furthermore, pharmaceutical aerosols are increasingly used by pharmaceutical industries to treat chronic obstructive pulmonary disease (COPD) and tuberculosis, which are obstructive airway diseases. Aerosol is also used in dental practices such as dental drills and air tooth polishing.

Aerosol Market: Restraints

Risks and Alternatives Associated with Product Recalls to Hamper Market Growth

The extra manufacturing cost of aerosol cans impacts the cost of finished goods compared to their traditional alternatives. Alternatives to aerosol propellants include bag-in-bottle systems that provide continuous spraying without any need to use aerosol propellants. These types of sprayers provide efficiencies, functionality, and exceptional value. Moreover, refillable spray bottles are less expensive than aerosol cans since they do not require disposal, which is also more environmentally friendly. This factor may limit revenue growth during the forecast period. Furthermore, aerosol products are exposed to a number of risks due to the presence of elevated levels of benzene. Leading CPG to recall their products as a result. Procter & Gamble, for instance, recalled over 30 aerosol spray hair care products on 17 December 2021 after benzene, a cancer-causing agent, was found in some products. A number of aerosol spray products were recalled, including those produced in the U.S. by Pantene, Aussie, Herbal Essences, and Waterless, as well as those from Old Spice and Hair Food that had previously been discontinued.

Aerosol Market: Segment Overview

Aluminum to Dominate Market due to its Environment-Friendly Nature

Furthermore, aluminum offers robust packaging and significantly enhances the product's aesthetic appeal, making it an environmentally friendly and recyclable material. Globally, aluminum prices have increased significantly over the past few years, which is driving this segment's growth. The rising price of aluminum is also raising the final cost of aerosols. As a result of this factor, aerosol manufacturers are likely to look for low-cost alternatives, which could hinder the growth of the aluminum material segment. Moreover, the plastic material segment, PET plastic, has been experiencing high demand because of its low weight, low cost, and high recyclability.

With Increased Demand for Hair Care Products and Deodrants, Personal Care Category Dominated Market

In the forecast period, the personal care segment held the largest market share, and it is anticipated that it will continue to rule the market during the forecast period. As lifestyles change, consumer spending increases, gender-specific products become more popular in emerging economies, and personal care products are becoming more popular. In developing regions, especially, the improvement of living standards and emphasis on hygiene contribute to the household segment's rapid growth. Dispersion of these products in smaller quantities reduces wastage and increases their longevity, which has increased the consumption of household products like air fresheners, cleaners, disinfectants and sanitizing agents.

Aerosol Market: Regional Landscape

Europe to Dominate Market due to Leading Personal Care Industry

Over the forecast period, it is anticipated that the Europe market will account for the largest revenue share. Several factors are contributing to the growth of the regional market, including high cosmetics consumption, rapid growth in the fragrance industry, and increasing consumer spending. However, the European Commission and Environmental Protection Agency (EPA) regulations regarding Volatile Organic Compounds (VOC) emissions hinder the growth of the Europe market despite increased demand from the personal care industry. The region is expected to overcome this challenge in the near future with innovations, such as Breathe's Safer Choice Program-certified aerosol cleaners introduced in 2017.

The Asia Pacific market is anticipated to experience stable revenue growth throughout the forecast period because it is expected that China and India will continue to promote favorable investments, resulting in lucrative growth opportunities for the market. Aerosol demand is rising in the personal care, automotive, and paints sectors due to increasing consumer spending in emerging Asian economies.

Global Aerosol Market: Competitive Landscape

In December 2021, In its Nivea deodorant product line, Beiersdorf AG, a German multinational company that manufactures personal-care products and pressure-sensitive adhesives, introduced climate-friendly aerosols. As part of its collaboration with Salford Valve Company and Nussbaum Matzingen, the company has launched climate-friendly aerosol valve systems and recycled aluminum cans for its Nivea Ecodeo product line. Moreover, in May 2018, a new facility was opened by Spray Products Corp. in Ohio, U.S. Meanwhile, Lindal Group inaugurated its state-of-the-art facility in Columbus, Indiana.

Few of the players in the aerosol market include Caterpillar Inc., Komatsu Ltd., Sandvik AB, Epiroc AB, Doosan Corporation, Deere & Company, Atlas Copco Ab (Epiroc Ab), Hitachi, Ltd. (Hitachi Construction Machinery Co., Ltd.), Liebherr-International Ag, and Metso Corporation.

Global Aerosol Market is Segmented as Below:

By Propellent Type

  • Liquefied Gas Propellants
  • Compressed Gas Propellants

By Propulsion

  • Diesel
  • CNG/LNG/RNG

By Valve Type

  • Mechanical Actuators
  • Non-mechanical Actuators
  • Others

By Material

  • Steel
  • Aluminum
  • Plastics
  • Others

By Type

  • Bag-In-Valve
  • Standard

By End Use

  • Consumer Packaged Goods (CPG)
  • Pharmaceutical
  • Automotive & Industrial
  • Others

By Application

  • Personal Care
  • Household
  • Automotive & Industrial
  • Food
  • Paints
  • Medical
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Japan
    • South Korea
    • India
    • China
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Elements Included In The Study: Global Aerosol Market

  • Aerosol Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value and Volume, 2018 - 2021
  • Volume Consumption at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Production Output Analysis (Major Producing Regions)
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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