NEW YORK, Sept. 2, 2021 /PRNewswire/ — Reports and Data has published its latest report titled ‘Aerosol Market Analysis By Application (Personal Care, Household, Automotive & Industrial, Food, Paints, and Medical), By Region (North America, Europe, Asia Pacific, Central & South America, MEA), Global Trends, Analysis, Growth And Forecast To 2028.’
According to latest analysis by Reports and Data, the global aerosol market size was USD 61.21 billion in 2020 and is expected to reach USD 82.49 Billion in 2028 and register a revenue CAGR of 3.8% over the forecast period, 2021–2028.
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Drivers, Restraints, and Opportunities
Aerosols use compressed gases such as carbon dioxide and nitrous oxide as propellants to deliver a steady stream of contents or formulations in a container. Containers are ideally steel or aluminum to ensure leak-proof and to ensure safety against contamination and evaporation. Increasing demand for personal care products such as hair sprays and deodorants, and rising demand for coatings, cleaning agents, air fresheners, insecticides, and a variety of other products globally are some key factors driving rapid market revenue growth. Gel toothpastes, lotions and hydrating creams, cream foundations, self-tanners, makeup setting sprays, and thermal waters sunscreen are some personal care items that use aerosols. Aerosols are used in the healthcare sector in products such as disinfectants, inhalers, anesthetic preparations, and various other products.
Ongoing research and development initiatives and private investments in personal care, household, food, automotive and industrial, medical, and paint products are some factors expected to positively impact revenue growth of the market over the forecast period. Rising government emphasis on sustainability and greener economy has been resulting in rapid adoption of eco-friendly packaging products across various industries and sectors in the recent past. Aerosol product containers are ecofriendly and can be fully recycled. In addition, development and launch of more advanced aerosol products has been opening up new and more lucrative opportunities for major players operating in the global aerosol market.
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COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Personal care leads among application segments:
Personal care segment accounted for largest revenue share in 2020, driven by rising demand for hair care products and deodorants. The demand for personal care products has registered a sharp rise in emerging economies owing to transformed lifestyle, emphasis on gender-specific products and rising consumer spending.
Automotive segment supporting market growth:
The automotive segment accounted for significantly larger revenue share in 2020, attributed to high demand for aerosol products such as spray paints and automotive cleaning agents, rising sales of vehicles, anti-fog agents, and lubricants.
Medical segment maintains steady growth:
The medical segment revenue growth is supported by high demand for dry powder respiratory inhalers and metered dose inhalers, especially in developed countries. Increasing pollution levels and increase in number of individuals reporting asthma conditions are key factors driving market growth.
North America accounts for robust revenue share:
North America accounted for significantly large revenue share in 2020, which can be attributed to rapid technological advancements in the field of aerosol, and rapid growth in the automotive industry in countries in the region.
Europe leads in terms of revenue share:
Europe accounted for largest revenue share in the global market in 2020 and the trend is expected to continue going ahead. Robust revenue share can be attributed to the region being the leading producer of aerosol products.
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Asia Pacific registers fastest CAGR:
Asia Pacific market accounted for substantially large revenue share in 2020 and is expected to register a revenue CAGR of 4.3% over the forecast period. Rapid urbanization coupled with expanding infrastructural developments in developing countries in Asia Pacific is expected to continue to drive steady demand for aerosol in paints and household products.
Major Companies in the Market:
- Reckitt Benckiser Group Plc
- Procter & Gamble Company
- S C Johnson & Son, Inc.
- Akzo Nobel N.V.
- Unilever PLC
- Coster Tecnologie Speciali S.p.A.
- Thymes LLC
- Ball Corporation
- CCL Industries
- China Cans Holding Ltd.
- Nampak Limited
- Mitani Valve Co. Ltd.
- Exal Corporation
- Lindal Group Holding GmbH
- BWAY Corporation
- Aptar Group
- Crown Holdings
- Bharat Containers
- Precision Valve Corporation
- Alucon PCL
- TUBEX Group
- Summit Packaging Systems Ltd.
- Ardagh Group S.A.
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Market Segmentation:
For the purpose of this report, Reports and Data has segmented the global aerosol market on the basis of application and region:
Product (Revenue, USD Billion; 2018-2028)
- Personal Care
- Deodorants
- Hair Mousse
- Hair Spray
- Shaving Mousse/Foam
- Others
- Household
- Insecticides & Plant Protection
- Air Fresheners
- Furniture & Wax Polishes
- Others
- Automotive & Industrial
- Greases
- Lubricants
- Spray Oils
- Cleaners
- Food
- Oils
- Whipped Cream
- Edible Mousse
- Sprayable Flavor
- Paints
- Medical
- Inhaler
- Topical Application
- Others
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of Middle East & Africa
Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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