Global Aerosol Propellants Market: Overview
Increase in incomes, along with increase in an aging population are projected to contribute to global aerosol propellant market. Besides, an increasing level of awareness about health and personal hygiene has led to an increase in demand for skincare, haircare, deodorants etc. This is turn, is expected to boost market further. A steady CAGR (Compound Annual Growth Rate) is expected over forecast period of 2018 to 2028.
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Global Aerosol Propellants Market: Notable Development
Developments in the aerosol propellants market are setting the stage for how the competitive landscape and the market growth charts would like in the forecast period of 2018 to 2028. One of the major one is outlined below along with an explanation to what that means for the market, overall.
- 24 April 2018: An investment of £1.6 million was made into Salford Valve Company by Foresight Group. The former manufactures valves for ecologically sustainable propellants. It has come up with a unique valve technology that allows for use of safe and inert gases to be used in aerosol propellants. It is not only better for the environment, appeasing a large community of environmentally conscious people, but also safer than conventional variants which mainly comprise hydrocarbons. The company also gains a point for creating a number of designs, in sync with a wide range of products.
With Foresight’s investment, development and commercialisation of this technology will be facilitated. Another thing that it will help is further research and development of new products. In a way, not only it changes how valves and propellers are viewed in future but also sets a new benchmark in the market.
The global aerosol propellants market is fairly fragmented. Prominent players include the following:
- BOC Industrial Gases UK
- DuPont, Aeropres Corporation
- Lapolla Industries Inc.
- Bayer MaterialScience AG
- Emirates Gas
- SRF Limited
To maintain an edge over competitors, players often make new product development and acquisitions as their primary strategies. For instance, it would be worth noting how SRF Limited took over DuPonts pharmaceutical propellant (Dymel) for 20 million to grab a larger market share.
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Global Aerosol Propellants Market: Key Trends and Driver
Factors that propel the market ahead are often entwined with growth in other markets, or are a reflection of change in tastes and preferences. Below is one of the many such factors that would contribute to global aerosol propellant market growth.
- Growth in demand for personal care products such as anti-perspirants, deodorants, shaving creams, and so on will set the tone for growth in the global aerosol propellants market. There is also an increase in demand for fragrances. Plus, an increase in the use of products such as paints and air fresheners, which are a proponent of improving living standards and rising income levels in the world economy.
Global Aerosol Propellants Market: Regional Analysis
The North American region will register considerable gains over the period of 2018-2028, due to an expanding scope of application. This boost would be strong from the automotive sector in the United States of America and Mexico. To add to these is the presence of prominent market players in the region who promise it a steady CAGR.
The Asia Pacific region will also chart notable growth with construction and automotive sectors showing immense potential. Countries who will play a decisive role in this region to push global aerosol propellant market to a higher growth trajectory are India, China and Malaysia. The counties are experiencing a rise in disposable incomes as well as an increased move towards personal care among consumers.
Europe, the region that led the market earlier, will note a high demand in the forecast period too, owing to a high demand for personal care products.
Global Aerosol Propellants Market is segmented based on:
- Nitrous Oxide and Carbon Dioxide
- DME and Methyl Ethyl Ether
- Personal Care
- Paints & Coatings
- Automotive & Industrial
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This post was originally published on Analytics News