Expected a Drastic Growth in Aerosol Propellants Market Aerosol Propellants Market Application Recommendations by Research Experts

 Industry Insights

The aerosol propellants market was estimated at USD 7.26 Billion in the year 2015. The market is likely to increase during the forecast period, owing to the development and utilization of superior propellant formulations that offer improved product dispensing capabilities.

The industry comprises numerous manufacturers across the globe, who are focusing on the development of advanced products to expand their business and hence enhance their presence as key players and improve their global reach. The industry is likely to see substantial growth over the years ahead, as a result of increased penetration of aerosol cans in various application sectors including medical, automotive, food processing and paints. Owing to the heavy demand of aerosol cans in health and hygiene associated products like insect repellants and air fresheners, this in turn is likely to increase the demand for propellants over the years ahead. Additionally, rapid urbanization along with infrastructural developments in countries like the UAE, India and China is expected to boost the consumption of cans and thus propel the product demand.

The market is heavily dependent on the availability of oil and gas products as raw materials such as natural gas and petroleum. The price of the propellants is expected to increase due to high volatility in the prices of natural gas and petroleum along with high demand for petroleum fuels in the automotive sector.

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Transportation of the product is one of the key issues currently faced in the industry, owing to its highly inflammable nature. One of the major product segments such as dimethyl ether is usually transported by means of ISO containers which provide additional convenience in terms of storage and also reduce secondary transportation cost to a certain extent.

Product Insights

Methyl ether and dimethyl ether, one of the key product segments are estimated to witness growth at a CAGR of 6% during the forecast period, as these products exhibit low global warming potential and no damage to the ozone layer. Due to the superior performance and reduced costs of the product, the demand for DME based blends is likely to increase the usage of can fillers thus enhancing the product consumption.

Due to the factors including low environmental damage and higher stability the consumption of aerosol propellant gases is expected to rise over the years ahead. The utilization of nitrous oxide is highly regulated due to its adverse effects on health of humans.

Application Insights

Increased usage of floor cleaners and insect sprays is considered to drive the product consumption in the household application segment. The demand for spray cleaners has also increased due to the boom in disposable income of consumers and noticeable changes in lifestyle of consumers which has increased the demand for products like wall coverings, furniture and others.

The automotive sector is expected to rise at a CAGR of 5% from 2016 to 2025, thus impelling the product consumption in processing of anti-fog agents, automotive cleaning agents, adhesives and sealants, and lubricants. To reduce the operational and maintenance costs in automotive and industrial applications the increased preference towards preventive maintenance is likely to increase the demand for above mentioned products.

Regional Insights

The Asia Pacific market is expected to show the fastest growth owing to a couple of socio-economic factors such as increase in disposable income and change in consumer lifestyles. Significantly rising use of various personal care products such as hair styling sprays and deodorants, among consumers is likely to boost the product consumption in the future. The market is expected to see a huge growth due to availability of low cost product formulations, as a consequence of decreased costs of raw material and low cost labor.

In terms of revenue, Germany is likely to account for over 28% share in Europe region, owing to substantial utilization of personal care products such as dry shampoos, deodorants and spray-on cosmetics. Considerable production as well as consumption of cars in Germany has increased the requirements of spray paints and automotive interior cleaners. This in turn, is estimated to improve the industry growth during the forecast period.

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