Aerosol Market Overview
The aerosol market size is
forecast to reach US$102.4 billion by 2026,
after growing at a CAGR of 3.1% during
2021-2026. Aerosols are known as extremely small solid particles, or liquid
droplets, suspended in the atmosphere. Aerosols find their usage in different
applications among various end industries such as paints & coating,
medical, automotive, and personal care among others. The growth in these
industries will positively drive the market between the forecast period 2021-2026.
Aerosols are widely used in deodorants,
anti-per spirants, body sprays, body
creams among others in the personal-care industry. The convenience of use and
aesthetic design of aerosol packaging is one of the major driving factors
supporting the market growth. Rapid urbanization along with increasing
construction activities is driving the demand for paints & coatings which
is further driving the demand for the aerosols market. Growing consumer interest
in personal and beauty products among developed and developing nations is also
boosting the market for aerosols. However, environmental regulation on aerosol
products will likely hamper the market growth during the forecast period.
COVID-19 Impact
The COVID-19 pandemic has
impacted chemical industry which has affected the Aerosol market. Due to
the Covid-19, the construction and automotive industries are impacted very badly
that further impacted the aerosol market. The slowdown in construction
activities due to lack of raw material supplies, and workforce are influencing the market negatively. The personal care industry is also registered low
revenue during the pandemic, which in turn drives less demand for aerosols. The
covid-19 impacted every operation such as supply chain, production, sales, and
others. However, the companies slowy resumed their operation in 2021, which may
positively influence the market.
Report Coverage
The report: “Aerosol Market – Forecast (2021-2026)”, by IndustryARC, covers an
in-depth analysis of the following segments of the Aerosol industry.
Key Takeaways
- The Asia Pacific region is expected to dominate the market and register the highest CAGR of 4.2% during the forecast period (2021-2026). The presence of leading chemical companies along with rapid growth in the personal care industry is propelling regional growth.
- The paints & coating industry is the largest consumer of aerosol during the forecast period. Paints and coatings find their usage in different industries such as construction, automotive, packaging, and others.
- The rapid increase in automobile production in developing countries such as Brazil, Mexico, Indonesia, and China is creating a positive impact on the usage of aerosol.
Figure: Europe Aerosol Market Revenue, 2020-2026 (US$ Billion)
Aerosol Market Segment Analysis: By Propellant
The liquid gas propellant segment accounted for the largest share of more than 70% in the aerosol market in 2020 and is estimated to grow at a significant rate during the forecast period. Majority of aerosol manufacturers are using liquefied gas as the propellant. In this technique, gas is turned into a liquid by putting it under high pressure. Liquefied gas propellants are the mixtures of simple hydrocarbons such as butane and propane. The gaining popularity of medical aerosols is driving the market for liquid gas propellants. The compressed gas segment will register a significant growth rate during the forecast period. Compressed gas propellants are readily available and cheap compared to liquid gas propellants.
Aerosol Market Segment Analysis: By Material
The metal segment accounted for
the largest share of more than 75% in the
aerosol market in 2020 and is estimated to grow at a significant rate during
the forecast period. The aluminum metal segment is expected to register a high
CAGR rate during the forecast period. Aluminum is the most preferred in aerosol
packaging and is widely used in many topical aerosols. The material is
extremely lightweight and is less reactive compared to other metals. Aluminum based
aerosol cans have a greater safety against leakage, and corrosion. The growing
usage of aluminum-based aerosol cans among end-users is driving the market
growth. Aluminum aerosol cans prevent contents from escaping and preserve them
for a long duration. The plastic segment is also gaining popularity in aerosol
packaging. Low weight, low cost, and high recyclability of PET plastic are some
of the major factors propelling the market growth during the forecast period.
Aerosol Market Segment Analysis: By Technology
The bag-on-value segment accounted
for a significant market share of the market in 2020 and is estimated to grow at
an above-average growth rate during the forecast period. It is a packaging
technology in which the bag containing the product is welded to the valve.
Bag-on-valve is a modern packaging technology designed to improve a product’s
life span and the consumer experience. The technology is widely used for dispense
liquids, gels, creams, and lotions. The growing personal care packaging
industry is driving the market for bag-on-valve technology.
Aerosol Market Segment Analysis: By End-Use Industry
The personal care segment accounted
for the largest market share of more than 33% of
the market in 2020 and is estimated to grow significantly during the forecast
period. The demand for personal care products is growing in emerging economies
due to changing lifestyles and increasing consumer spending. Aerosol is used to
develop many personal care products such as shaving foams, deodorants, and face
creams among others. The growing trend of using deodorants is supporting the
growth of the personal care segment. The rapid increase in the structured
retail chain sector among developing economies including India, China, Brazil,
and South Korea among others is driving the sales of personal care products
which is further driving the aerosol market. The paints & coatings industry
is expected to hold a significant share in e global aerosol market. The paints
& coatings are used in various industries such as automotive, construction,
textiles, and others. The rapid growth in construction activities in emerging
economies is driving the market growth. In March 2021, USA President Joe Biden
announced that the government is planning to invest approximately USD 2
trillion in repairing and building new infrastructure in the United States.
Aerosol Market Segment Analysis - By Geography
The European region held the largest share of more than 32% in the Aerosol market in 2020, owing to the rapid growth in the pharmaceutical and personal care industries. The presence of developed nations such as Germany, the UK, France, and Spain are driving the market growth. High cosmetics consumption along with the rapid growth of the fragrance industry are the major factors supporting the regional growth during the forecast period. The increasing investments by key developers for manufacturing environmentally friendly aerosols are also boosting the market growth during the forecast period. The Asia Pacific region is expected to grow at a high CAGR of 4.2% during the forecast period. The growing construction industry along with the growing usage of paints and coatings are driving the market growth during the forecast period. The changing lifestyle and the influence of western culture in developing nations such as China and India are driving the usage of cosmetic products among youth. It is also estimated that the Asia Pacific cosmetic industry will register a high CAGR of 9.5% between the forecast period 2021-2026.
Aerosol Market Drivers
Rapid growth in the personal care industry
Aerosol is used in different personal care products such as deodorants/ antiperspirants, hairsprays, shaving mousse & gels, hair mousse, others. The rapid change in lifestyle and increasing consumer spending on personal care products are the major factors positively impacting the market. According to Euro Monitor International, the United States occupied the major market share in the global beauty and personal care market. They also mentioned that the country generated revenue of USD 93.1 Billion in 2020 and China holds the next position with USD 70.9 Billion. L’Oréal, Unilever, Estée Lauder, Coty, and Proctor & Gamble are the top 5 cosmetic companies operating in the world. The personal care industry is one of the fastest-growing consumer product sectors in India. According to the data published by the Indian Beauty & Hygiene Association (IBHA), the beauty and personal care market in India is expected to reach US$ 10 billion by 2021. Rapid penetration of smartphones and the internet is one of the primary factors supporting the Indian personal care market.
Growing automotive industry
Aerosol find its application in various products such as greases, lubricants, spray oils, cleaners, and others in the automotive industry. Aerosol products help vehicles to run smoothly and protect them from external and inner conflicts. According to the data published by ACEA, approximately 18.5 million motor vehicles were produced in the European Union in 2019. They also mentioned about 10.8 million passenger cars are produced in the European Union in 2020. According to the data published by OICA, China produced 2.21 million heavy trucks in 2019 and 2.98 million heavy trucks in 2020. The Saudi Arabian government (SAG) is focusing to develop a domestic automotive industry and has encouraged global vehicle manufacturers to establish local operations in the country. According to the data published by OICA, Saudi Arabia's new vehicles sales reached 452,544 in 2020 and UAE new vehicles sales reached 158,711 in 2020.
Aerosol Market Challenges
Environmental Safety Rules and Regulations related aerosol packaging
Aerosol cans can
be handled easily and it is difficult to dispose of. They contain different
products or propellants that would be considered hazardous waste when they are disposed
of. Cans that are used and not emptied have some propellant left are considered
hazardous waste by the US Environmental Protection Agency (EPA). The agency has
made some guidelines on the disposal of aerosol cans that are not completely
used. Propane, carbon dioxide, and butane are frequently used aerosol
propellants. They are considered greenhouse gases that contribute to global
warming and smog formation. The NASA and the National Science Foundation (NSF)
Center organizations have raised many concerns regarding the effects of aerosol
propellants on the environment and the ozone layer. These are some of the major
challenges impacting the market growth for aerosol.
Aerosol Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Aerosol market. Major players include:
- Proctor & Gamble
- Unilever PLC
- Henkel AG
- Reckitt Benckiser Group plc
- S. C. Johnson & Son, Inc.
- Thymes, LLC
- Crabtree & Evelyn, Ltd.
- AkzoNobel N.V. and others.
Acquisitions/Technology Launches
- In March 2021, Aero-Sense, a Belgium -based manufacturer of aviation chemicals collaborated with Honeywell on a revolutionary non-flammable, aerosolized in-cabin insecticide. The company preferred Honeywell Solstice® Propellant for novel environmentally preferable, aerosolized insecticide for aircraft. Honeywell Solstice Propellant is widely used in a variety of aerosol applications, including personal care products, and pressure dusters among others.
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LIST OF TABLES
1.Global Market Segmentation and Analysis Market 2023-2030 ($M)1.1 By Can Type Market 2023-2030 ($M) - Global Industry Research
1.1.1 Steel Market 2023-2030 ($M)
1.1.2 Aluminum Market 2023-2030 ($M)
1.1.3 Plastic Market 2023-2030 ($M)
1.2 By Application Type Market 2023-2030 ($M) - Global Industry Research
1.2.1 Hair Products Market 2023-2030 ($M)
1.2.2 Skin Care Market 2023-2030 ($M)
1.2.3 Shaving Depilatories Market 2023-2030 ($M)
1.2.4 Deodorants Market 2023-2030 ($M)
2.Global Competitive Landscape Market 2023-2030 ($M)
2.1 Mergers Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Global Industry Research
3.Global Market Segmentation and Analysis Market 2023-2030 (Volume/Units)
3.1 By Can Type Market 2023-2030 (Volume/Units) - Global Industry Research
3.1.1 Steel Market 2023-2030 (Volume/Units)
3.1.2 Aluminum Market 2023-2030 (Volume/Units)
3.1.3 Plastic Market 2023-2030 (Volume/Units)
3.2 By Application Type Market 2023-2030 (Volume/Units) - Global Industry Research
3.2.1 Hair Products Market 2023-2030 (Volume/Units)
3.2.2 Skin Care Market 2023-2030 (Volume/Units)
3.2.3 Shaving Depilatories Market 2023-2030 (Volume/Units)
3.2.4 Deodorants Market 2023-2030 (Volume/Units)
4.Global Competitive Landscape Market 2023-2030 (Volume/Units)
4.1 Mergers Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America Market Segmentation and Analysis Market 2023-2030 ($M)
5.1 By Can Type Market 2023-2030 ($M) - Regional Industry Research
5.1.1 Steel Market 2023-2030 ($M)
5.1.2 Aluminum Market 2023-2030 ($M)
5.1.3 Plastic Market 2023-2030 ($M)
5.2 By Application Type Market 2023-2030 ($M) - Regional Industry Research
5.2.1 Hair Products Market 2023-2030 ($M)
5.2.2 Skin Care Market 2023-2030 ($M)
5.2.3 Shaving Depilatories Market 2023-2030 ($M)
5.2.4 Deodorants Market 2023-2030 ($M)
6.North America Competitive Landscape Market 2023-2030 ($M)
6.1 Mergers Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Regional Industry Research
7.South America Market Segmentation and Analysis Market 2023-2030 ($M)
7.1 By Can Type Market 2023-2030 ($M) - Regional Industry Research
7.1.1 Steel Market 2023-2030 ($M)
7.1.2 Aluminum Market 2023-2030 ($M)
7.1.3 Plastic Market 2023-2030 ($M)
7.2 By Application Type Market 2023-2030 ($M) - Regional Industry Research
7.2.1 Hair Products Market 2023-2030 ($M)
7.2.2 Skin Care Market 2023-2030 ($M)
7.2.3 Shaving Depilatories Market 2023-2030 ($M)
7.2.4 Deodorants Market 2023-2030 ($M)
8.South America Competitive Landscape Market 2023-2030 ($M)
8.1 Mergers Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Regional Industry Research
9.Europe Market Segmentation and Analysis Market 2023-2030 ($M)
9.1 By Can Type Market 2023-2030 ($M) - Regional Industry Research
9.1.1 Steel Market 2023-2030 ($M)
9.1.2 Aluminum Market 2023-2030 ($M)
9.1.3 Plastic Market 2023-2030 ($M)
9.2 By Application Type Market 2023-2030 ($M) - Regional Industry Research
9.2.1 Hair Products Market 2023-2030 ($M)
9.2.2 Skin Care Market 2023-2030 ($M)
9.2.3 Shaving Depilatories Market 2023-2030 ($M)
9.2.4 Deodorants Market 2023-2030 ($M)
10.Europe Competitive Landscape Market 2023-2030 ($M)
10.1 Mergers Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Regional Industry Research
11.APAC Market Segmentation and Analysis Market 2023-2030 ($M)
11.1 By Can Type Market 2023-2030 ($M) - Regional Industry Research
11.1.1 Steel Market 2023-2030 ($M)
11.1.2 Aluminum Market 2023-2030 ($M)
11.1.3 Plastic Market 2023-2030 ($M)
11.2 By Application Type Market 2023-2030 ($M) - Regional Industry Research
11.2.1 Hair Products Market 2023-2030 ($M)
11.2.2 Skin Care Market 2023-2030 ($M)
11.2.3 Shaving Depilatories Market 2023-2030 ($M)
11.2.4 Deodorants Market 2023-2030 ($M)
12.APAC Competitive Landscape Market 2023-2030 ($M)
12.1 Mergers Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Regional Industry Research
13.MENA Market Segmentation and Analysis Market 2023-2030 ($M)
13.1 By Can Type Market 2023-2030 ($M) - Regional Industry Research
13.1.1 Steel Market 2023-2030 ($M)
13.1.2 Aluminum Market 2023-2030 ($M)
13.1.3 Plastic Market 2023-2030 ($M)
13.2 By Application Type Market 2023-2030 ($M) - Regional Industry Research
13.2.1 Hair Products Market 2023-2030 ($M)
13.2.2 Skin Care Market 2023-2030 ($M)
13.2.3 Shaving Depilatories Market 2023-2030 ($M)
13.2.4 Deodorants Market 2023-2030 ($M)
14.MENA Competitive Landscape Market 2023-2030 ($M)
14.1 Mergers Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Aerosols Market Revenue, 2023-2030 ($M)2.Canada Aerosols Market Revenue, 2023-2030 ($M)
3.Mexico Aerosols Market Revenue, 2023-2030 ($M)
4.Brazil Aerosols Market Revenue, 2023-2030 ($M)
5.Argentina Aerosols Market Revenue, 2023-2030 ($M)
6.Peru Aerosols Market Revenue, 2023-2030 ($M)
7.Colombia Aerosols Market Revenue, 2023-2030 ($M)
8.Chile Aerosols Market Revenue, 2023-2030 ($M)
9.Rest of South America Aerosols Market Revenue, 2023-2030 ($M)
10.UK Aerosols Market Revenue, 2023-2030 ($M)
11.Germany Aerosols Market Revenue, 2023-2030 ($M)
12.France Aerosols Market Revenue, 2023-2030 ($M)
13.Italy Aerosols Market Revenue, 2023-2030 ($M)
14.Spain Aerosols Market Revenue, 2023-2030 ($M)
15.Rest of Europe Aerosols Market Revenue, 2023-2030 ($M)
16.China Aerosols Market Revenue, 2023-2030 ($M)
17.India Aerosols Market Revenue, 2023-2030 ($M)
18.Japan Aerosols Market Revenue, 2023-2030 ($M)
19.South Korea Aerosols Market Revenue, 2023-2030 ($M)
20.South Africa Aerosols Market Revenue, 2023-2030 ($M)
21.North America Aerosols By Application
22.South America Aerosols By Application
23.Europe Aerosols By Application
24.APAC Aerosols By Application
25.MENA Aerosols By Application