Rising Demand of Eco-Friendly Packaging is Expected to Drive the Aerosol Can Market During the Forecast Period 2021-2026. Aerosol Can Market size was valued at $8,994 million in 2020, growing at a CAGR of 5.3% during the forecast period 2021-2026.
The Aerosol Can Market growth rate is attributed to the rising demand of eco-friendly packaging. The market for aerosol items such as spray paints and automotive cleaning agents is being propelled by rising customer consciousness about the appearance and maintenance of vehicles. In addition, increasing environmental pollution concerns and ongoing industry research and innovation have led to the evolution of new car markets for electricity, fuel cells, and hybrid vehicles. Automakers have been producing electric vehicles, such as Tesla, BMW, Nissan Motor Corporation, Chevrolet, Kia Motors, and others. Moreover, the demand for pollution-free vehicles has been encouraged by policymakers around the world. In the coming years, this is expected to boost automotive demand much more. Accordingly, the anticipated rise in vehicle production is projected to increase demand for automotive aerosol products, further driving the growth of the aerosol can market over the forecast period 2021-2026. For instance, Unilever launched aerosol products with eco-friendly packaging in 2013. These containers were 50 percent smaller than standard cans and were longer-lasting. In addition, 50 percent less propellant was used and the product's total carbon footprint was reduced. Apart from this, India manufactured 30,915,420 vehicles in 2018–19, according to the Society of Indian Car Manufacturers (SIAM), which was 6.3 percent higher than the production of 29,094,447 vehicles in the previous year. Similarly, according to the India Brand Equity Foundation (IBEF) report in 2020, the growth of the markets is supported by an increase in the young population and middle-class income.
Furthermore, the superior properties offered by the commodity, such as low production costs, power, high heat & light reflectivity, oxygen protection, moisture and various other contaminants that provide extended shelf life for goods, also contribute to improving the growth of aerosol cans in the beverage packaging industries. A leading aluminum aerosol can manufacturer with global locations in the USA, CCL Container provides a variety of internal liners for compatibility with a wide range of aerosol beverage products including polyamide imid(PAM) liners, beverage-compatible epoxy phenolic(EP) liners, thereby, expanding company's product reach globally. On the other hand, stringent regulations to limit VOC emissions, including European Commissions VOC Solvents Emissions Directive are anticipated to hamper the market growth over the forecast period 2021-2026.
North America is the major region dominating the aerosol can market with revenue of $2,538 Million in 2020. U.S. in North America region is dominating the Aerosol Can Market generating revenue of $1,936m in 2020. This is owing to increasing cosmetic and personal care industry and increase in funding in U.S based companies. Moreover, with the growing consumer's lifestyle and rise in disposable income which increases the demand for personal care products, such as shower and shaving foams, sprays, and dry shampoos in U.S. that driving the growth of Aerosol can market. In U.S. numbers of major manufacturers are present such as EXAL Corporation and Crown Holdings, Inc. that are adopting strategies such as collaboration, product launch, partnership and acquisition with other players to gain competitive advantage in the regional aerosol can market.
Aluminum material type accounted for a major share and the segment generated a revenue of $4,947 m in 2020 and is projected to be the fastest growing segment at a CAGR of 5.7% during the forecast period 2021-2026. This is owing to the fact that properties of aluminum such as strong, durable, flexible, corrosion-resistant, and 100% recyclable, increased the demand for aluminum aerosol cans among consumers and it became the preference for the manufacturers. As, manufacturers prefer aluminum for aerosol cans owing to the fact that it can be recycled less expensively than aluminum produced from virgin ore. Furthermore, aluminum aerosol cans offer substantial cost benefits that appeal to manufacturers as well as end-users. Apart from this, aluminum aerosol cans continue to be the container of choice for consumers owing to the innovative form and reliable functionality also, it creates an impression of upscale quality that is different from other packaging materials.
Talk to one of our sales representative about the full report by providing your details in the link below:
Aerosol Can Market Growth Drivers:
Rise in the Modern Retail Formats Along With Technological Advancements
The market for Aerosol Can is anticipated to rise at a rapid pace during the forecast period 2021-2026 owing towards the upward trend in modern retail pushes FMCG businesses to concentrate on the packaging format to maximize their customer reach within the limited shelf space availability. The lightweight design of aerosol cans is another aspect that fuels the growth of the aerosol cans market. Along with the light weight properties, they also have unbreakable and easy to hold properties when holding it. For instance, Colep partnered with Henkel AG to supply lightweight tinplate cans to the hairstyling specialist brand Syoss in 2018. In a bid to provide a more balanced packaging solution that uses less products, less energy and less water for consumers, the aerosol cans supplier created the latest packaging solution. In addition, owing to fast-paced lifestyles, the growing use of aerosol cans is anticipated to be the key factor in driving the growth of the demand for aerosol cans and forcing companies to opt for technological innovation to control a higher share of the market for aerosol cans. For instance, in 2019, at the ADF&PCD exhibition in Paris, Ball Corporation unveiled a new technology offering innovative shapes to create consumer appeal at any angle of the can by launching its custom aerosol cans.
Increasing Demand of Aerosol Can from Beverage Industries
The superior properties offered by the commodity, such as low production costs, power, high heat & light reflectivity, oxygen protection, moisture and various other contaminants that provide extended shelf life for goods, also contribute to improving the growth of aerosol cans in the beverage packaging industries. A leading aluminium aerosol can manufacturer with global locations in the USA, CCL Container provides a variety of internal liners for compatibility with a wide range of aerosol beverage products including polyamide imid (PAM) liners, beverage-compatible epoxy phenolic(EP) liners, thereby, expanding company's product reach globally. In August 2019, for instance, Novelis and Ball announced sustainable packaging of aluminium where the aim is to put light-weighting into applications. It is an integral part of the European production system of Novelis, which has ample capacity to recycle any aluminium beverage that can be sold in the UK. Compared to polyester for PET, the price of aluminium is higher, making it ideal for a higher priced beverage like beer, which needs more durable content compared to water bottles. For promotional activities such as the launch of limited-edition beer cans, aerosol cans are the predominant option for beer producers owing to simple moulding capabilities coupled with ease of printing on it. Moreover, companies such as Tata Steel are interested in the processing of used metals in order to minimize reliance on the production of virgin aluminium and steel. The sheets containing a percentage of virgin metal are then sold to producers of drinks that drive the market for aerosol cans.
CCL Industries Inc. (“CCL”) has signed a binding agreement to acquire Polish BOPP film producer Flexpol Sp. Z.o.o. for an estimated $22 million on a debt/cash free basis. This acquisition is poised bring new capability to deliver label films in Europe using the same technology at Innovia Mexico for the Americas complementing existing product offerings from Innovia’s UK operations.
Major Market Players
The major companies in the aerosol can market include Ball Corporation, CCL Industries Inc., Crown Holdings Inc., Ardagh Packaging Holdings Limited, Mauser Packaging Solutions, Colep Portugal S.A., Nampak Ltd., Euro Asia Packaging(Guangdong) Co. Ltd., Exal Corporation and Casablanca Industries Pvt. Ltd.. In October 2020, Ball Corporation and Kroenke sports & Entertainment announced a global partnership for advanced sustainability in sports & entertainment by aluminum beverage packaging.
Although there has been product withdrawals and low demand for the product, companies are conducting research and development for the perfecting the products. Manufacturers are rooting for the comeback of aerosol can with effective products. There are the major factors set to buoy the aerosol can market during 2021-2026.
To request for a quote, provide your details in the below link:
Mr. Venkat Reddy
Email: [email protected]
Contact Sales: +1-970-236-3677
About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.