Aerosols Market - Forecast(2023 - 2028)

Report Code: CMR 89295 Report Format: PDF + Excel

Aerosol Market Overview

The aerosol market size is forecast to reach US$102.4 billion by 2026, after growing at a CAGR of 3.1% during 2021-2026. Aerosols are known as extremely small solid particles, or liquid droplets, suspended in the atmosphere. Aerosols find their usage in different applications among various end industries such as paints & coating, medical, automotive, and personal care among others. The growth in these industries will positively drive the market between the forecast period 2021-2026. Aerosols are widely used in deodorants, anti-per spirants, body sprays, body creams among others in the personal-care industry. The convenience of use and aesthetic design of aerosol packaging is one of the major driving factors supporting the market growth. Rapid urbanization along with increasing construction activities is driving the demand for paints & coatings which is further driving the demand for the aerosols market. Growing consumer interest in personal and beauty products among developed and developing nations is also boosting the market for aerosols. However, environmental regulation on aerosol products will likely hamper the market growth during the forecast period.

COVID-19 Impact

The COVID-19 pandemic has impacted chemical industry which has affected the Aerosol market. Due to the Covid-19, the construction and automotive industries are impacted very badly that further impacted the aerosol market. The slowdown in construction activities due to lack of raw material supplies, and workforce are influencing the market negatively. The personal care industry is also registered low revenue during the pandemic, which in turn drives less demand for aerosols. The covid-19 impacted every operation such as supply chain, production, sales, and others. However, the companies slowy resumed their operation in 2021, which may positively influence the market.

Report Coverage

The report: “Aerosol Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Aerosol industry.

By Particle Size: Aitken Particles, Large Particles, and Giant Particles.
By Propellant Type: Liquefied Propellant and Compressed Gas Propellant.
By Material: Metal [Steel, Aluminum, Tinplated], Plastic, Glass, and Others.
By Technology: Bag-On-Valve (B.O.V.) and Traditional.
By End-Use Industry: Personal Care [Deodorants/ Antiperspirants, Hairsprays, Shaving mousse & gels, Hair mousse, Others], Household [Air fresheners, Insecticides & Plant protection products, Furniture waxes & polishes, Shoe/ Leather care products, Textile & fabric care products, Bathroom & kitchen cleaning mousse, and Oven cleaners], Automotive [Greases, Lubricants, Spray Oils, Cleaners, and Others], Food and Beverage [Oil, Whipped Cream, Edible Mousse, Sprayable Flavors, and Others], Paints and Coatings, Pharmaceutical, Veterinary & Animal Care, and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Netherlands, Belgium, Spain, Denmark, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (the Middle East and Africa).

Key Takeaways

  • The Asia Pacific region is expected to dominate the market and register the highest CAGR of 4.2% during the forecast period (2021-2026). The presence of leading chemical companies along with rapid growth in the personal care industry is propelling regional growth.
  • The paints & coating industry is the largest consumer of aerosol during the forecast period. Paints and coatings find their usage in different industries such as construction, automotive, packaging, and others.
  • The rapid increase in automobile production in developing countries such as Brazil, Mexico, Indonesia, and China is creating a positive impact on the usage of aerosol.


Figure: Europe Aerosol Market Revenue, 2020-2026 (US$ Billion)

Europe Aerosol Market Revenue

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Aerosol Market Segment Analysis: By Propellant

The liquid gas propellant segment accounted for the largest share of more than 70% in the aerosol market in 2020 and is estimated to grow at a significant rate during the forecast period. Majority of aerosol manufacturers are using liquefied gas as the propellant. In this technique, gas is turned into a liquid by putting it under high pressure. Liquefied gas propellants are the mixtures of simple hydrocarbons such as butane and propane. The gaining popularity of medical aerosols is driving the market for liquid gas propellants. The compressed gas segment will register a significant growth rate during the forecast period. Compressed gas propellants are readily available and cheap compared to liquid gas propellants.

Aerosol Market Segment Analysis: By Material

The metal segment accounted for the largest share of more than 75% in the aerosol market in 2020 and is estimated to grow at a significant rate during the forecast period. The aluminum metal segment is expected to register a high CAGR rate during the forecast period. Aluminum is the most preferred in aerosol packaging and is widely used in many topical aerosols. The material is extremely lightweight and is less reactive compared to other metals. Aluminum based aerosol cans have a greater safety against leakage, and corrosion. The growing usage of aluminum-based aerosol cans among end-users is driving the market growth. Aluminum aerosol cans prevent contents from escaping and preserve them for a long duration. The plastic segment is also gaining popularity in aerosol packaging. Low weight, low cost, and high recyclability of PET plastic are some of the major factors propelling the market growth during the forecast period.

Aerosol Market Segment Analysis: By Technology

The bag-on-value segment accounted for a significant market share of the market in 2020 and is estimated to grow at an above-average growth rate during the forecast period. It is a packaging technology in which the bag containing the product is welded to the valve. Bag-on-valve is a modern packaging technology designed to improve a product’s life span and the consumer experience. The technology is widely used for dispense liquids, gels, creams, and lotions. The growing personal care packaging industry is driving the market for bag-on-valve technology.

Aerosol Market Segment Analysis: By End-Use Industry

The personal care segment accounted for the largest market share of more than 33% of the market in 2020 and is estimated to grow significantly during the forecast period. The demand for personal care products is growing in emerging economies due to changing lifestyles and increasing consumer spending. Aerosol is used to develop many personal care products such as shaving foams, deodorants, and face creams among others. The growing trend of using deodorants is supporting the growth of the personal care segment. The rapid increase in the structured retail chain sector among developing economies including India, China, Brazil, and South Korea among others is driving the sales of personal care products which is further driving the aerosol market. The paints & coatings industry is expected to hold a significant share in e global aerosol market. The paints & coatings are used in various industries such as automotive, construction, textiles, and others. The rapid growth in construction activities in emerging economies is driving the market growth. In March 2021, USA President Joe Biden announced that the government is planning to invest approximately USD 2 trillion in repairing and building new infrastructure in the United States. 

Aerosol Market Segment Analysis - By Geography

The European region held the largest share of more than 32% in the Aerosol market in 2020, owing to the rapid growth in the pharmaceutical and personal care industries. The presence of developed nations such as Germany, the UK, France, and Spain are driving the market growth. High cosmetics consumption along with the rapid growth of the fragrance industry are the major factors supporting the regional growth during the forecast period. The increasing investments by key developers for manufacturing environmentally friendly aerosols are also boosting the market growth during the forecast period. The Asia Pacific region is expected to grow at a high CAGR of 4.2% during the forecast period. The growing construction industry along with the growing usage of paints and coatings are driving the market growth during the forecast period. The changing lifestyle and the influence of western culture in developing nations such as China and India are driving the usage of cosmetic products among youth. It is also estimated that the Asia Pacific cosmetic industry will register a high CAGR of 9.5% between the forecast period 2021-2026.

Aerosol Market Drivers

Rapid growth in the personal care industry 

Aerosol is used in different personal care products such as deodorants/ antiperspirants, hairsprays, shaving mousse & gels, hair mousse, others. The rapid change in lifestyle and increasing consumer spending on personal care products are the major factors positively impacting the market. According to Euro Monitor International, the United States occupied the major market share in the global beauty and personal care market. They also mentioned that the country generated revenue of USD 93.1 Billion in 2020 and China holds the next position with USD 70.9 Billion. L’Oréal, Unilever, Estée Lauder, Coty, and Proctor & Gamble are the top 5 cosmetic companies operating in the world. The personal care industry is one of the fastest-growing consumer product sectors in India. According to the data published by the Indian Beauty & Hygiene Association (IBHA), the beauty and personal care market in India is expected to reach US$ 10 billion by 2021. Rapid penetration of smartphones and the internet is one of the primary factors supporting the Indian personal care market. 

Growing automotive industry 

Aerosol find its application in various products such as greases, lubricants, spray oils, cleaners, and others in the automotive industry. Aerosol products help vehicles to run smoothly and protect them from external and inner conflicts. According to the data published by ACEA, approximately 18.5 million motor vehicles were produced in the European Union in 2019. They also mentioned about 10.8 million passenger cars are produced in the European Union in 2020. According to the data published by OICA, China produced 2.21 million heavy trucks in 2019 and 2.98 million heavy trucks in 2020. The Saudi Arabian government (SAG) is focusing to develop a domestic automotive industry and has encouraged global vehicle manufacturers to establish local operations in the country. According to the data published by OICA, Saudi Arabia's new vehicles sales reached 452,544 in 2020 and UAE new vehicles sales reached 158,711 in 2020. 

Aerosol Market Challenges

Environmental Safety Rules and Regulations related aerosol packaging

Aerosol cans can be handled easily and it is difficult to dispose of. They contain different products or propellants that would be considered hazardous waste when they are disposed of. Cans that are used and not emptied have some propellant left are considered hazardous waste by the US Environmental Protection Agency (EPA). The agency has made some guidelines on the disposal of aerosol cans that are not completely used. Propane, carbon dioxide, and butane are frequently used aerosol propellants. They are considered greenhouse gases that contribute to global warming and smog formation. The NASA and the National Science Foundation (NSF) Center organizations have raised many concerns regarding the effects of aerosol propellants on the environment and the ozone layer. These are some of the major challenges impacting the market growth for aerosol.

Aerosol Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Aerosol market. Major players include:

  1. Proctor & Gamble
  2. Unilever PLC
  3. Henkel AG
  4. Reckitt Benckiser Group plc
  5. S. C. Johnson & Son, Inc.
  6. Thymes, LLC
  7. Crabtree & Evelyn, Ltd.
  8. AkzoNobel N.V. and others.

Acquisitions/Technology Launches

  • In March 2021, Aero-Sense, a Belgium -based manufacturer of aviation chemicals collaborated with Honeywell on a revolutionary non-flammable, aerosolized in-cabin insecticide. The company preferred Honeywell Solstice® Propellant for novel environmentally preferable, aerosolized insecticide for aircraft. Honeywell Solstice Propellant is widely used in a variety of aerosol applications, including personal care products, and pressure dusters among others. 

Relevant Reports

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1. Aerosol Market- Market Overview
    1.1 Definitions and Scope 
2. Aerosol Market - Executive Summary
    2.1 Key Trends by Particle Size
    2.2 Key Trends by Propellant Type
    2.3 Key Trends by Material
    2.4 Key Trends by Technology
    2.5 Key Trends by End-Use Industry
    2.6 Key Trends by Geography
3. Aerosol Market – Comparative analysis 
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Aerosol Market - Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Aerosol Market – Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Aerosol Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes 
7. Aerosol Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies 
8. Aerosol Market – By Particle Size (Market Size -$Million/Billion)
    8.1 Aitken Particles
    8.2 Large Particles
    8.3 Giant Particles
9. Aerosol Market – By Propellant Type (Market Size -$Million/Billion)
    9.1 Liquefied Propellant
    9.2 Compressed gas Propellant
10. Aerosol Market – By Material (Market Size -$Million/Billion)
    10.1 Metal
        10.1.1 Steel
        10.1.2 Aluminum
        10.1.3 Tinplated
    10.2 Plastic
    10.3 Glass
    10.4 Others
11. Aerosol Market – By Technology (Market Size -$Million/Billion)
    11.1 Bag-On-Valve (B.O.V.) 
    11.2 Traditional
12. Aerosol Market – By End-use Industry (Market Size -$Million/Billion)
    12.1 Personal Care
        12.1.1 Deodorants/ Antiperspirants
        12.1.2 Hairsprays
        12.1.3 Shaving mousse & gels
        12.1.4 Hair mousse
        12.1.5 Others
    12.2 Household
        12.2.1 Air fresheners
        12.2.2 Insecticides & Plant protection products
        12.2.3 Furniture waxes & polishes
        12.2.4 Shoe/ Leather care products
        12.2.5 Textile & fabric care products
        12.2.6 Bathroom & kitchen cleaning mousse
        12.2.7 Oven cleaners
    12.3 Automotive
        12.3.1 Greases
        12.3.2 Lubricants
        12.3.3 Spray Oils
        12.3.4 Cleaners
        12.3.5 Others
    12.4 Food and Beverage
        12.4.1 Oil
        12.4.2 Whipped Cream
        12.4.3 Edible Mousse
        12.4.4 Spray able Flavours
        12.4.5 Others
    12.5 Paints and Coatings
    12.6 Pharmaceutical, Veterinary & Animal Care
    12.7 Others  
13. Aerosol Market - By Geography (Market Size -$Million/Billion)
    13.1 North America
        13.1.1 USA
        13.1.2 Canada
        13.1.3 Mexico
    13.2 Europe
        13.2.1 UK
        13.2.2 Germany
        13.2.3 Italy
        13.2.4 France
        13.2.5 Netherlands
        13.2.6 Belgium
        13.2.7 Spain
        13.2.8 Denmark
        13.2.9 Rest of Europe
    13.3 Asia-Pacific
        13.3.1 China
        13.3.2 Japan
        13.3.3 South Korea
        13.3.4 India
        13.3.5 Australia and New Zeeland
        13.3.6 Indonesia
        13.3.7 Taiwan
        13.3.8 Malaysia
        13.3.9 Rest of APAC
    13.4 South America
        13.4.1 Brazil
        13.4.2 Argentina
        13.4.3 Colombia
        13.4.4 Chile
        13.4.5 Rest of South America
    13.5 Rest of the World
        13.5.1 Middle East
            13.5.1.1 Saudi Arabia
            13.5.1.2 UAE
            13.5.1.3 Israel
            13.5.1.4 Rest of the Middle East
        13.5.2 Africa
            13.5.2.1 South Africa
            13.5.2.2 Nigeria
            13.5.2.3 Rest of Africa
14. Aerosol Market – Entropy
    14.1 New Product Launches
    14.2 M&As, Collaborations, JVs and Partnerships
15. Aerosol Market – Industry/Segment Competition Landscape Premium 
    15.1 Company Benchmarking – Major Companies
    15.2 Market Share at Global Level - Major companies
    15.3 Market Share by Key Region - Major companies
    15.4 Market Share by Key Country - Major companies
    15.5 Market Share by Key Application - Major companies
    15.6 Market Share by Key Product Type/Product category - Major companies
16. Aerosol Market – Key Company List by Country Premium Premium 
17. Aerosol Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    17.1 Company 1
    17.2 Company 2
    17.3 Company 3
    17.4 Company 4
    17.5 Company 5
    17.6 Company 6
    17.7 Company 7
    17.8 Company 8
    17.9 Company 9
    17.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Market Segmentation and Analysis Market 2019-2024 ($M)
1.1 By Can Type Market 2019-2024 ($M) - Global Industry Research
1.1.1 Steel Market 2019-2024 ($M)
1.1.2 Aluminum Market 2019-2024 ($M)
1.1.3 Plastic Market 2019-2024 ($M)
1.2 By Application Type Market 2019-2024 ($M) - Global Industry Research
1.2.1 Hair Products Market 2019-2024 ($M)
1.2.2 Skin Care Market 2019-2024 ($M)
1.2.3 Shaving Depilatories Market 2019-2024 ($M)
1.2.4 Deodorants Market 2019-2024 ($M)
2.Global Competitive Landscape Market 2019-2024 ($M)
2.1 Mergers Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Global Industry Research
3.Global Market Segmentation and Analysis Market 2019-2024 (Volume/Units)
3.1 By Can Type Market 2019-2024 (Volume/Units) - Global Industry Research
3.1.1 Steel Market 2019-2024 (Volume/Units)
3.1.2 Aluminum Market 2019-2024 (Volume/Units)
3.1.3 Plastic Market 2019-2024 (Volume/Units)
3.2 By Application Type Market 2019-2024 (Volume/Units) - Global Industry Research
3.2.1 Hair Products Market 2019-2024 (Volume/Units)
3.2.2 Skin Care Market 2019-2024 (Volume/Units)
3.2.3 Shaving Depilatories Market 2019-2024 (Volume/Units)
3.2.4 Deodorants Market 2019-2024 (Volume/Units)
4.Global Competitive Landscape Market 2019-2024 (Volume/Units)
4.1 Mergers Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Market Segmentation and Analysis Market 2019-2024 ($M)
5.1 By Can Type Market 2019-2024 ($M) - Regional Industry Research
5.1.1 Steel Market 2019-2024 ($M)
5.1.2 Aluminum Market 2019-2024 ($M)
5.1.3 Plastic Market 2019-2024 ($M)
5.2 By Application Type Market 2019-2024 ($M) - Regional Industry Research
5.2.1 Hair Products Market 2019-2024 ($M)
5.2.2 Skin Care Market 2019-2024 ($M)
5.2.3 Shaving Depilatories Market 2019-2024 ($M)
5.2.4 Deodorants Market 2019-2024 ($M)
6.North America Competitive Landscape Market 2019-2024 ($M)
6.1 Mergers Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research
7.South America Market Segmentation and Analysis Market 2019-2024 ($M)
7.1 By Can Type Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Steel Market 2019-2024 ($M)
7.1.2 Aluminum Market 2019-2024 ($M)
7.1.3 Plastic Market 2019-2024 ($M)
7.2 By Application Type Market 2019-2024 ($M) - Regional Industry Research
7.2.1 Hair Products Market 2019-2024 ($M)
7.2.2 Skin Care Market 2019-2024 ($M)
7.2.3 Shaving Depilatories Market 2019-2024 ($M)
7.2.4 Deodorants Market 2019-2024 ($M)
8.South America Competitive Landscape Market 2019-2024 ($M)
8.1 Mergers Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research
9.Europe Market Segmentation and Analysis Market 2019-2024 ($M)
9.1 By Can Type Market 2019-2024 ($M) - Regional Industry Research
9.1.1 Steel Market 2019-2024 ($M)
9.1.2 Aluminum Market 2019-2024 ($M)
9.1.3 Plastic Market 2019-2024 ($M)
9.2 By Application Type Market 2019-2024 ($M) - Regional Industry Research
9.2.1 Hair Products Market 2019-2024 ($M)
9.2.2 Skin Care Market 2019-2024 ($M)
9.2.3 Shaving Depilatories Market 2019-2024 ($M)
9.2.4 Deodorants Market 2019-2024 ($M)
10.Europe Competitive Landscape Market 2019-2024 ($M)
10.1 Mergers Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research
11.APAC Market Segmentation and Analysis Market 2019-2024 ($M)
11.1 By Can Type Market 2019-2024 ($M) - Regional Industry Research
11.1.1 Steel Market 2019-2024 ($M)
11.1.2 Aluminum Market 2019-2024 ($M)
11.1.3 Plastic Market 2019-2024 ($M)
11.2 By Application Type Market 2019-2024 ($M) - Regional Industry Research
11.2.1 Hair Products Market 2019-2024 ($M)
11.2.2 Skin Care Market 2019-2024 ($M)
11.2.3 Shaving Depilatories Market 2019-2024 ($M)
11.2.4 Deodorants Market 2019-2024 ($M)
12.APAC Competitive Landscape Market 2019-2024 ($M)
12.1 Mergers Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research
13.MENA Market Segmentation and Analysis Market 2019-2024 ($M)
13.1 By Can Type Market 2019-2024 ($M) - Regional Industry Research
13.1.1 Steel Market 2019-2024 ($M)
13.1.2 Aluminum Market 2019-2024 ($M)
13.1.3 Plastic Market 2019-2024 ($M)
13.2 By Application Type Market 2019-2024 ($M) - Regional Industry Research
13.2.1 Hair Products Market 2019-2024 ($M)
13.2.2 Skin Care Market 2019-2024 ($M)
13.2.3 Shaving Depilatories Market 2019-2024 ($M)
13.2.4 Deodorants Market 2019-2024 ($M)
14.MENA Competitive Landscape Market 2019-2024 ($M)
14.1 Mergers Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Aerosols Market Revenue, 2019-2024 ($M)
2.Canada Aerosols Market Revenue, 2019-2024 ($M)
3.Mexico Aerosols Market Revenue, 2019-2024 ($M)
4.Brazil Aerosols Market Revenue, 2019-2024 ($M)
5.Argentina Aerosols Market Revenue, 2019-2024 ($M)
6.Peru Aerosols Market Revenue, 2019-2024 ($M)
7.Colombia Aerosols Market Revenue, 2019-2024 ($M)
8.Chile Aerosols Market Revenue, 2019-2024 ($M)
9.Rest of South America Aerosols Market Revenue, 2019-2024 ($M)
10.UK Aerosols Market Revenue, 2019-2024 ($M)
11.Germany Aerosols Market Revenue, 2019-2024 ($M)
12.France Aerosols Market Revenue, 2019-2024 ($M)
13.Italy Aerosols Market Revenue, 2019-2024 ($M)
14.Spain Aerosols Market Revenue, 2019-2024 ($M)
15.Rest of Europe Aerosols Market Revenue, 2019-2024 ($M)
16.China Aerosols Market Revenue, 2019-2024 ($M)
17.India Aerosols Market Revenue, 2019-2024 ($M)
18.Japan Aerosols Market Revenue, 2019-2024 ($M)
19.South Korea Aerosols Market Revenue, 2019-2024 ($M)
20.South Africa Aerosols Market Revenue, 2019-2024 ($M)
21.North America Aerosols By Application
22.South America Aerosols By Application
23.Europe Aerosols By Application
24.APAC Aerosols By Application
25.MENA Aerosols By Application