psalexa

India Aerosol Market to Reach a Value of $891.13 Million in 2030

Published Date:   February 2021

The growing demand for aerosols in automobile factories and the aftermarket, advancing Indian manufacturing industry, and supportive government initiatives for research and development (R&D) are the major growth drivers for the Indian aerosol market. Due to the aforementioned factors, the industry is projected to generate $891.13 million revenue in 2030, advancing at a CAGR of 6.0% during the forecast period (2020–2030).

At the beginning of 2020, manufacturing facilities of aerosol companies in India were partially closed due to lockdowns. Furthermore, there has been a reduction in the demand for aerosols from factories and workshops for the cleaning and maintenance of machinery and automotive components. In addition, there has been a reduction in the demand for personal care products, of which aerosols are an important ingredient, owing to the shutdown of various beauty parlors and salons, thereby slowing down the growth of the market.

Personal Care Category Is Expected To Witness Fastest Growth

On the basis of application, the Indian aerosol market is categorized into industrial, residential, personal care, spray paints, and others. Among these, the personal care category dominated the industry during the historical period (2014–2019), and it is expected to witness the fastest growth till 2030. This would mainly be due to the rising disposable income, which is driving the demand for a wide range of aerosol-based personal care products, including hair sprays, dry shampoos, deodorants, shaving creams, and mousse foundations.

Furthermore, the personal care category is divided into deodorants/antiperspirants, hair sprays, shaving mousse & gels, hair mousse, and others. Among these, deodorants/antiperspirants accounted for the largest market share in 2019. This is majorly ascribed to the rapid urbanization and emergence of online retail channels, where a wide variety of innovative products, such as pocket perfumes and herbal perfumes, are easily available. In addition, the rising disposable income and enhanced knowledge of personal hygiene are driving the demand for deodorants/antiperspirants in India.

On the basis of distribution channel, the Indian aerosol market is categorized into department/convenience stores, supermarkets/hypermarkets, and others. Among these, the supermarkets/hypermarkets category will experience the fastest growth in the market during the forecast period. This is majorly ascribed to the increasing industrialization rate, improving macroeconomic performance of the country, and rising need for organized retail. In addition, modernization and technological advancements have propelled the popularity of giant retail stores where everything is easily available in a wide variety, which is driving the sale of aerosols through supermarkets/hypermarkets.

Geographically, the northern part of India dominated the market over the past few years, and it is expected to retain its dominance during the forecast period. This would primarily be due to the rising consumer preference for personal hygiene products, such as deodorants/antiperspirants. In addition, the demand for aerosol-based car care and homecare products is growing in the region, as they are easy to dispense from the can.

Product Launches Are Most-Effective Strategic Measure Taken by Players in Market

Players in the Indian aerosol market are launching new products to gain a significant position. For instance, in November 2020, CRC Industries Inc. announced the launch of a new multi-use automotive parts cleaner and degreaser, for cleaning chokes, air intakes, carburettors, throttle bodies, rotors, and brake drums.

Similarly, in May 2020, 3M Company announced the launch of an anti-heat solution for the Indian Railways, named 3M Scotchkote Polytech Exp RG700. This is a solar-reflective layer that decreases the temperature inside an enclosure, and it can be sprayed on several metallic and non-metallic substrates.

Major players operating in the Indian aerosol market include Twin Tech India Pvt. Ltd., Aerol Formulations Private Limited, Indian Aerosols Pvt. Ltd., Pidilite Industries Limited, Aerosol Specialities (India), Zenith Spray And Aerosols Private Limited, S. S. Aerosols Pvt. Ltd., Renuka Multichem, OKS Speciality Lubricants India, Stanvac-Superon Group, 3M Company, CRC Industries Inc., Wuerth India Pvt. Ltd., RPM International Inc., ABRO Industries Inc., R.J. London Chemicals Industries Co. Ltd., Aeroaids Corporation, Vanesa Group, and Bans Aerosol Private Limited.