Global Aerosol Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Application (Household, Automotive, Paints and Varnishes, Food and Beverages, Personal Care, Insecticide and Others)

Market Overview

Aerosol, as a finished product comprises five major components: container, valve, dip tube, actuator and cap. The container or can, which stores the product, is usually made of aluminum, steel, tinplate, plastic and glass. The shape and size of the container varies in the global aerosol market that are based on the product properties and gas used to provide optimal storage conditions. The valve allows the product content to release in a very-controlled manner from its container. On pressing the valve, the spring beneath it exerts pressure at the opening, allowing the product to escape as an aerosol. Additionally, valve keeps the container airtight, clean and hygienic. The dip tube is used to transport the product from inside of the container to the atmosphere. The actuator is used to control the angle, amount, shape and fineness of the product dispersed. The type of actuator to be used depends upon the aerosol content and use of container.

On the basis of nature and size of the suspended particles present in gas/air, to form an aerosol, the aerosols are further categorized into four sub-groups: fumes, dusts, mists and sprays. Approximately three quarters of the total aerosol found is generated from natural resources. The main sources for aerosol formation are soil and rock debris, sea salt, smoke from forest fires, emissions from volcanic eruptions and solid and liquid particles.

For commercial and industrial application purposes, aerosols are manufactured through artificial process. The basic concept of aerosol technology involves a spray, which delivers a propellant (such as paint, hair spray, and deodorant) to assist in dispensing the product; however, at times this can be a complex procedure. For instance, an aerosol pesticide must be formulated in such a way that on pressing the button, it releases precise amount of poison to kill the insect without causing any negative impact on environment or human life. Additionally, an aerosol throat inhaler, should dispense precise amount of medication on pressing the can button.

Aerosol market include a wide range of products from mass-market goods to specific aerosol types used in industrial, technical or medical applications. Aerosol finds its application in various industries such as cosmetics, household products, pharmaceuticals, paints, personal care, automotive, pest control, air care and food.

Market Dynamics

The global aerosol market is expected to witness significant growth, by growing at a CAGR of 6.1% (in terms of volume) and 6.9% (in terms of value) during the forecast period (2016-2022). The aerosol market growth is likely to be driven by the increasing awareness for personal care and hygiene, and growth in key industries such as household, food and beverages, paints and varnishes and automotive. Additionally, the shifting trend in the aerosol market for using eco-friendly products and increasing emphasis on recycling and refilling is further boosting the chances of growth in the global aerosol market. Various factors such as strict government regulations and health hazards associated with aerosol are negatively impacting the growth of hydrofluoroalkalens (HFA) market. In the global aerosol market, Europe was the largest region in terms of both volume and value in 2015.

Trends

Globally, personal care is the largest application of the global aerosol market followed by the household application segment. The increasing buying power, along with increasing standard of living is significantly fueling the demand for personal and household products for improved living in the aerosol market worldwide. The increasing demand for personal care and household products is anticipated to have a positive impact on the growth of the aerosol market.

The growing consciousness towards health and hygiene application is also expected to increase the demand for aerosols during the forecast period. Asthma inhalers and pain healing sprays are some of the major application areas of aerosols in pharmaceutical industry.

Growth Drivers

Aerosols have widespread applications in key industrial sectors such as food and beverages, paints and coating, automotive, pharmaceutical and personal care and household applications. These sectors are showcasing significant growth, which is further propelling the demand for aerosols. Globally, the food habits of an individual have changed, as they are spending more on food and beverages, owing to increasing income and living standard of an individual.

The developing economies, such as China, India, Brazil, Korea and Malaysia are witnessing fast-paced industrialization and urbanization, creating potential aerosol market. The increasing automobile production in India, China, Brazil, Indonesia and Germany is anticipated to drive the demand for aerosol. The rapid urbanization along with infrastructural development, particularly in India, Thailand and Brazil is expected to drive the paints and coatings industry, which in turn would increase aerosol demand, during the forecast period.

Growth Restraints

Environmental problems associated with aerosols relates to the synthetic aerosols. For instance, smoke released due to the incomplete combustion of fossil fuel, leads to the formation of aerosols, which is harmful to plants and humans. Additionally, stringent rules and regulations have been set up by Environmental Protection Agency and European Commission, towards restricting the use of hydrochlorofluorocarbons (HCFC), F-gases) and hydrofluorocarbons (HFC) components as propellant in aerosols products.

There are some major risks associated with the use of synthetic aerosols for commercial purpose in recreational drugs. Inhaling aerosol may cause several side effects such as excitement, euphoria, hallucinations and delusions. The repeated inhalation of aerosols may result into addiction, which can cause damage to vision, intoxication, diminished mental capacity and slurred speech. These health hazards also act as major barriers, hampering the growth of the global aerosol market. Other health hazards related to aerosol exposure includes dizziness, headache, nausea, throat irritation and skin rashes.

Competitive Landscape

Some of the key players in the global aerosol market include Reckitt Benckiser Group Plc, Procter & Gamble Company, S C Johnson & Son, Inc., Akzo Nobel N.V., Unilever PLC, Coster Tecnologie Speciali S.p.A. and Thymes, LLC.

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