The global aerosol market size is anticipated to reach USD 131.9 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 6.6% during the forecast period. The rising demand for aerosol products from various end-use industries, such as personal care, household, automotive and industrial, and medical, is anticipated to drive the growth.
Aerosol Market Report Highlights
- The personal care application segment accounted for the largest revenue share in 2021 due to extensive usage of aerosol in deodorants, hair mousses, hair sprays, and others due to its convenience, which contributed to the growth of this segment
- The automotive & industrial application segment is anticipated to grow at a steady CAGR from 2021 to 2030 due to increasing preference for aerosol-based greases and oils by the automobile service stations
- Asia Pacific is estimated to be the fastest-growing regional market from 2021 to 2030 on account of the rising penetration of retail, growing construction activities, and increasing sales of automobiles
- The market in Europe is expected to witness sluggish growth in the coming years owing to the regulations regarding Volatile Organic Compounds (VOCs) emissions imposed by the European Commission and Environmental Protection Agency (EPA)
- The global market is highly competitive owing to the presence of major players like Proctor & Gamble, Reckitt Benckiser, etc.
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Aerosol paints are being increasingly used for automotive as well as architectural paint applications. Uniform propulsion, ease of application, and aesthetic appeal of aerosols are key factors driving their demand in architectural and automotive paint end-use industries. Furthermore, the rapidly expanding construction sector, especially in developing countries such as India, China, Vietnam, and Indonesia, is expected to further fuel the product demand in paint application. Globally, the cases of respiratory diseases, such as asthma and Chronic Obstructive Pulmonary Disease (COPD), have considerably increased over the past several years, majorly due to the changing lifestyle and rising geriatric population. The growing cases of such respiratory diseases are principally driving the demand for aerosol-based inhalers. In addition, high demand for various pain relief sprays owing to their convenience of application is further anticipated to expand the market growth in the coming years. Asia Pacific is among the significant regional markets.
The rising demand for personal care products from developing countries is anticipated to propel the demand for aerosol. In addition, increasing awareness regarding cleanliness and hygiene is boosting the growth of household products like cleaners, sanitizing agents, and air fresheners. The growing demand from Asia Pacific is encouraging aerosol manufacturers to increase their production. For example, in February 2019, Vanesa Care announced plans to set up its fourth manufacturing facility in India. The global market is highly competitive with numerous players involved in acquisitions and expansions. In addition, they also conduct R&D for the emerging sectors, such as household and personal care.
Aerosol Market Insights By Geographical Region
Europe held the largest market share of 33.1% in terms of volume in 2021. The region is also the leading producer of aerosols. Its large share is mainly attributable to the personal care industry. Factors including high cosmetics consumption, rapid growth in the fragrance industry, and increasing consumer spending are boosting the regional market growth. Asia Pacific is amongst the fastest-growing regions and is expected to register a CAGR of 8.0% over the forecast period. The governments of China and India have been focusing on promoting favorable investments, which is expected to create lucrative growth opportunities for the market over the forecast period.
Industry Share Analysis By Major Companies
Mergers and acquisitions and new capacity expansions are among the key strategies adopted by the major companies operating in this market. Some of the key players in the global aerosol market include
- Proctor & Gamble
- Reckitt Benckiser
- Unilever
- Honeywell International Inc.
- SC Johnson & Son Inc.
- Henkel
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Aerosol Market Segmentation
Grand View Research has segmented the global aerosol market on the basis of material, type, application, and region:
- Aerosol Material Outlook (Volume, Million Units; Revenue, USD Million, 2017 – 2030)
- Aerosol Type Outlook (Volume, Million Units; Revenue, USD Million, 2017 – 2030)
- Aerosol Application Outlook (Volume, Million Units; Revenue, USD Million, 2017 – 2030)
- Aerosol Regional Outlook (Volume, Million Units; Revenue, USD Million, 2017 – 2030)
- List of Key Players of Aerosol Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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