Aerosol Market Overview
The Aerosol Market size is forecast to reach US$105.6
billion by 2027, after growing at a CAGR of 3.1% during the forecast period 2022-2027.
A suspension of liquid droplets and fine
solid particles in the air or other gases is known as an aerosol. Aerosols are
either natural or anthropogenic. The convenience of use of aerosol has
been attracting various end-use industries such as household, automotive,
industrial, food & beverages, medical & healthcare and other sectors,
towards aerosol-based product packaging. The rising consumption of cosmetics
& personal care products such as deodorants, hair and body sprays, shaving
creams and others, are driving the aerosol market growth. Rapid urbanization,
along with infrastructural developments in emerging economies is anticipated to
drive the demand for aerosol in paints and coatings and also for household
products such as disinfectants. Moreover, the increasing requirement for
aerosol as insecticides in the agriculture industry is anticipated to upsurge
the demand for aerosol in the forecast period. The global economic downturn
caused by the COVID-19 pandemic resulted in a huge drop in demand for
automobiles, personal care products and other end-use industries all across
the world, which had a significant impact on the growth of the aerosol market size.
The “Aerosol Market Report – Forecast (2022 - 2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Aerosol industry.
By Type: Bag-In-Valve and Standard
By Particle Size: Aitken Particles, Large Particles and Giant Particles
By Propellant Type: Liquefied Propellant and Compressed Gas Propellant
By Can Type: Steel, Aluminum, Plastic, Tin and Others
By Application: Brake Cleaners, Paints, Varnishes, Insecticides, Hair care, Body Care, Cleaning Agents, Air Fresheners, Inhalers and Others
By End-Use Industry: Agriculture, Automotive, Cosmetic & Personal Care, Household, Food & Beverages, Medical & Pharmaceuticals, Industrial and Others
By Geography: North America (U.S.A., Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World (Middle East and Africa)
- The Asia-Pacific region dominates the Aerosol Market size owing to the rising growth in the food & beverages industry. For instance, in February 2022, TH Group commenced the development of the Thai Binh food processing factory in the northern province of Thai Binh's Quynh Ph? district in Vietnam. The overall cost of the project reached up to VND 620 billion (approx. US$ 27 million) and aims at producing fresh, clean and completely natural food products.
- Rapidly rising demand for aerosol in the food & beverage industry for cleaning, glazing, sanitizing and portioning applications has driven the growth of the aerosol market.
- The increasing demand for aerosol in the personal care sector, due to its usage in deodorants and hair care products, has been a critical factor driving the growth of the aerosol market in the upcoming years.
- However, the rising environmental and health effects of aerosols can hinder the growth of the aerosol industry.
Figure: Asia-Pacific Aerosol Market Revenue, 2021-2027 (US$ Billion)
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Aerosol Market Segment Analysis – by Can Type
The aluminum can segment held a significant portion of the Aerosol
Market share in 2021 and is estimated to grow
at a CAGR of 2.9% during the forecast period 2022-2027. Aluminum cans provide longer-duration food quality
preservation benefits and protection against light, moisture, oxygen and other
contaminants. These cans do not rust and corrode and offer extended shelf life as
compared to any other packaging such as plastic and steel packaging. Moreover,
these cans exhibit characteristics such as stability, high barrier properties and
rigidity. It is also soft and lightweight. Additionally, aluminum cans possess
features such as it is strong, stackable, having a hermetically sealed cover, being
resistant to transportation and rough handling, allowing them to be utilized
for packaging and transportation of beverages by utilizing less material. Furthermore,
the recyclability of aluminum cans is its most significant property. Thus, all
these exhibit characteristics of an aluminum can making it a preferred choice over
the other can types which is driving its segmental growth.
Aerosol Market Segment Analysis – by End-Use Industry
The automotive industry held a
significant portion of the Aerosol Market share in 2021 and is estimated to grow at a
CAGR of 3.4% during the forecast period 2022-2027. Aerosol is
utilized in various applications in the automotive industry such as in the form
of cleaners, ignition sealers, lubricant cans and others. Aerosol cleaners are
used for cleaning the carburetor, brake, battery terminal, carb & choke
electronic, electric motor and others. Also, aerosol degreasers are utilized
for engines, chain lube citrus and other purposes. The automotive industry is growing, for
instance, according to the Organisation Internationale des Constructeurs
d'Automobiles (OICA), in Austria, motor vehicle production increased from
86,300 units in 2020 to 92,000 units in the year 2021. Similarly, in the USA,
the production of motor vehicles increased from 62,39,401 units in 2020 to
68,57,182 units in the year 2021. With the increasing production of
automobiles, it is estimated that in the upcoming years the requirement for aerosol in
the automotive industry will rise. This will boost the growth of the market in
the automotive sector.
Aerosol Market Segment Analysis – by Geography
Asia-Pacific region dominated the Aerosol Market share with 39% in the year 2021, owing to the increasing demand for personal care products, agricultural insecticides, increasing investments in the medical and healthcare industry and rising automotive production in the region. China is estimated to witness growth in the demand for aerosol paints & coatings, due to the demand from the automotive industry, increasing construction projects and increasing furniture production & exports. For instance, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), the total automobile production in China reached 2,60,82,220 units in 2021, an increase from 2,52,25,242 units in 2020 and 2,57,20,665 units in 2019 respectively. Additionally, India and South Korea also witnessed significant growth in the automotive industry. For instance, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), the total automobile production in India reached 43,99,112 units in 2021, an incline of 30% from 33,94,446 units in 2020. Moreover, according to recent insights from the South Korean Ministry of Trade, Industry and Energy, automobile production in South Korea amounted to 271,054 units in December 2021. Such increasing automotive production in the APAC countries is anticipated to increase the demand for automotive aerosol products in the forecasted period and in turn, drives the demand for the aerosol market.
Aerosol Market Drivers
Growing Cosmetic & Personal Care Industry
In the cosmetic & personal care industry, the Aerosol Market
is driven by the growing demand for deodorants
and hair care products. The demand for cosmetic & personal care products is
rising in emerging economies owing to the rising consumer spending, emphasis on
gender-specific products and changing lifestyles. The cosmetic & personal care industry is increasing rapidly in emerging economies
such as India, the United States, China and other countries, due to which the
demand for aerosol is also rising. For instance, according to the International
Trade Administration, in Indonesia, in 2021, the revenues in the cosmetics and
personal care industry are projected to reach US$7.5 billion and are estimated
to rise at a 6.5 percent compound annual growth rate through 2025. Similarly, the total local production, in Mexico,
of personal care and cosmetic products, is estimated to rise to US$7.15
billion in 2021, from US$7.14 billion in 2020. Thus, with the growth of
the cosmetic & personal care products sector, the
market for aerosol will further
rise over the forecast period.
Increasing Food and Beverages Industry
In the food and beverages industry, the aerosol is utilized for cleaning tanks, glazing cakes, sanitizing bottles, disinfectants, portioning vitamins and other applications. Moreover, it is also being used in foodstuffs such as oil and whipped cream. The food and beverage industry is growing, for instance, according to the China Chain Store & Franchise Association, China's food and beverage (F&B) sector reached approximately US$595 billion in 2019, a 7.8 percent increase over 2018. Moreover, the food & beverage market of South Korea is expected to reach US$99.28 billion by 2024, witnessing a CAGR of 3.9% according to the British Chamber of Commerce in Korea. Thus, with the growth of the food and beverage sector, the market for aerosol will further rise over the forecast period.
Aerosol Market Challenges
Environmental and Health Effects Associated with Aerosol
There are various benefits of aerosol, however, there are considerable negative impacts as well. The chemicals used as aerosol are toxic to the soil, air and water. Aerosols pose risks to the environment, creating pollution which is one of the leading factors of global warming and acid rain. Anthropogenic aerosols hinder the climate in two ways such as by changing the amount of heat that gets absorbed or released out of the atmosphere and by impacting the way clouds form. Moreover, aerosol cans can cause damaging effects on the environment. On repeated exposure to aerosols, it can cause adverse health effects such as depression of the central nervous system and even permanent damage, irritation of the eyes and lungs and damage to the liver, kidneys and skin. Thus, due to the rising environmental and health effects, the growth of the aerosol market will be hindered in the forecast period.
Aerosol Industry Outlook
Technology launches, acquisitions and R&D
activities are key strategies players adopt in the Aerosol Market. The top 10 companies in the Aerosol Market are::
1. Proctor & Gamble
2. Reckitt Benckiser
4. Honeywell International Inc.
5. SC Johnson & Son Inc.
7. Crabtree & Evelyn
8. Beiersdorf AG
9. Lindal Group
10. Starco Brands
- In 2022, Mumbai-based pharmaceutical company Glenmark Pharmaceuticals rolled out India’s first aerosol Nitric Oxide Nasal Spray (NONS), named FabiSpray in collaboration with Canadian pharmaceutical company SaNOtize Research and Development Corporation.
- In 2020, Lindal Group, an aerosol dispensing solutions company started the construction of its new production facility in Brazil with an investment of US$25 million.
- In 2020, a new aerosol hand sanitizer has been launched by California, US-based Starco Brands. Through its consumer brand Breathe®, the organization has filed a patent and commercialized the spray technology with a 75% alcohol solution.
Report Code: CMR
Report Code: CMR
Report Code: CMR
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