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India Industrial Aerosol Market to Reach a Value of $115.85 Million in 2030

  • Published: February 2021

The major growth factors for the Indian industrial aerosol market are the increasing demand for aerosols in automobile factories and the aftermarket, growing manufacturing industry, and rising government initiatives for research and development (R&D) in the growing Indian manufacturing industry. Due to the aforementioned factors, the industry is projected to generate $115.85 million revenue in 2030, advancing at a CAGR of 5.6% during the forecast period (2020–2030).

At the beginning of 2020, due to COVID-19, manufacturing facilities were partially closed in compliance with the lockdowns. However, with the lifting of the lockdowns and resumption of non-essential movement and trade activities, the Indian industrial aerosol market is expected to witness growth after 2020.

Spray Paints Category Is Expected To Dominate Market

On the basis of application, the Indian industrial aerosol market is categorized into spray paints, cleaning, maintenance, and others. Among the categories of the application segment, spray paints dominated the industry during the historical period (2014–2019), and it is expected to retain its dominance during the forecast period. This would mainly be due to the country’s growing automotive aftermarket, which is backed by the rising purchasing power of the Indian population.

Moreover, in terms of value, maintenance is expected to be the fastest-growing category during the forecast period. This is mainly attributed to the high demand for aerosols in automobile workshops, which acknowledges to repaint the scratches on machinery. Further, aerosols are used for the maintenance of the machinery and provide protection to it for a long run.

Based on type, under the cleaning application category, the Indian industrial aerosol market is categorized into engine cleaners, tire cleaners, carpet cleaners, electronics cleaners, and others. In terms of value, among these, the engine cleaners category holds the largest market share, owing to the increasing usage of engine cleaners in the automotive industry.

Moreover, in terms of value, the electronics category is expected to witness the fastest growth during the forecast period, among all the cleaning categories. This will majorly be due to the rising demand for industrial as well as consumer electronic products, which leads to the growing consumption of aerosols used in the electronics industry of the country.

Based on type, the maintenance application category in the Indian industrial aerosol market is categorized into de-icers, anti-fogs, silicones, and others. Among these, silicone aerosol products witness the highest demand, a trend that is expected to continue in the coming years. This would mainly be due to the lubrication, corrosion resistance, and easy mold releasing attributes of silicone aerosols.

Moreover, in terms of volume, silicone is expected to be the fastest-growing category during the forecast period, among all the maintenance categories. This would primarily be due to its high resistance to moisture, heat, cold, and ultraviolet radiation.

Product Launch Is Most-Effective Strategic Measure Taken by Players in Market

Players in the Indian industrial aerosol market is launching new products to gain a significant position. For instance, in November 2020, CRC Industries Inc. announced the launch of a 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 launched an anti-heat solution for the Indian Railways, named 3M Scotchkote Polytech Exp RG700. This solar-reflective layer decreases the temperature inside an enclosure, and it is ideal for a range of non-metallic and metallic substrates.

The major players operating in the Indian industrial aerosol market include Pidilite Industries Limited, Aerosol Specialities (India), Zenith Spray And Aerosols Private Limited, PRIME AEROSOLS, S. S. Aerosols Pvt. Ltd., Renuka Multichem, OKS Speciality Lubricants India, Twin Tech India Pvt. Ltd., Aerol Formulations Private Limited, and Indian Aerosols Pvt. Ltd.