Global Aerosol Market Projected To Grow At A CAGR Of 6.3% During The Forecast Period
The latest market report published by Brisk Insights, “Aerosol Market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the Aerosol market was valued at US$ 80.74 Bn in 2018 and expected to reach US$ 138.86 Bn by 2027 at a CAGR of 6.3% throughout the forecast period from 2019 to 2027. The market size in terms of volume was 16.14 Bn units in 2018 and is projected to reach 20.61 Bn units in 2027 expanding at a CAGR of 3.1%.
"Increasing demand for aerosol in the paints industry will spur revenue growth during the forecast period"
Rising demand for aerosol products from various end-use industries including automotive, pharmaceutical, and personal care among others coupled with increasing application in the paint industry are the major factors driving the growth of the aerosol market. Undeviating impetus, aesthetic appeal, and ease of application of aerosols are key factors fueling the demand of the aerosol market. Rising demand for air care and personal care products including deodorants, air fresheners, hair care products, and skincare products among others are having a positive impact on the growth of the aerosol market. Additionally, rising disposable income and awareness of personal hygiene are having a significant impact on the growth of personal care and household products across the globe. This, in turn, is propelling the growth of the aerosol market globally.
In addition, the high prevalence of respiratory diseases including asthma, and COPD among others due to the increasing geriatric population along with rising sustainability concerns in the packaging industry are factors further bolstering the market growth of the aerosol market. Increasing urbanization coupled with infrastructural development in the emerging economies of Asia Pacific including India, and China among others are driving the demand for aerosol in paints, personal care, and household segment. The development of sustainable packaging solutions and stringent regulatory standards across the globe are expected to present new opportunities for the aerosol market.
• For instance, in 2018, Unilever entered into a partnership agreement with Constellium to provide aerosol with aluminum solutions provided by Constellium. This technology allows up to 30% weight saving as compared to traditional technologies.
Key Market Movements
• In 2018, the global aerosol market was valued at US$ 80.74 Bn and is mounting at a CAGR of 6.3%. In terms of volume, the market sales were 16.14 Bn Units in the same year and are expanding at a CAGR of 3.1%.
• Based on material type, the market is classified into aluminum, steel, glass, and plastic. The aluminum segment dominated the market and is expanding with the highest CAGR owing to the low cost of production, and high production volume across the globe.
• The sustainability concerns for recycling and the easy recycling of aluminum are factors proliferating the growth in this segment. The overall production of aluminum increased by 3.6% from the previous year.
• Europe region dominated the global aerosol market in terms of both market revenue and volume. This can be associated with the growing personal care sector especially in the UK and Germany, and rapidly increasing the packaging industry in the region.
List of Companies Covered:
• Proctor & Gamble
• Reckitt Benckiser Group PLC
• Unilever PLC
• Honeywell International Inc.
• SC Johnson & Son Inc.
• Henkel AG
• Thymes LLC
• Crabtree & Evelyn, Ltd.
• AkzoNobel N.V.
• Crown Holdings Inc.
Browse the full report at https://www.briskinsights.com/report/aerosol-market
The Global Aerosol Market is Segmented into:
By Material Type Segment (2017–2027; US$ Bn)
By Application Segment (2017–2027; US$ Bn)
By Geography Segment (2017–2027; US$ Bn)
*Complete segmentation list is on a report page