Global aerosol propellant market is expected to witness a steady growth over the forecast period on account of its high increasing usage in aerosol sprays. The overall market size in 2015 was approximately 10 million tons and the industry is expected to grow at a CAGR of around 4% from 2016 to 2024.However, environmental and health hazards linked with the use of propellants in aerosol products could inhibit growth.
Wide application in cosmetic and paints is expected to drive the global product demand in near future. Aerosol propellants are widely used in aerosol sprays that help in the compressed gas escape.
Aerosol cans containing compressed gas is highly dangerous in nature, therefore, its combination with propellant helps in controlling the pressure and emits the high-pressure vessels requirement.
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Aerosol propellants have wide application in the field of medicine, food & beverages, cosmetics, automotive and paint industries. Chlorofluorocarbons were the most widely used propellants but impact the ozone layer.
Volatile hydrocarbons have been used as harmful propellants replacement as they are considered to be less harmful, however, they show flammable characteristics. The food industry makes use of nitrous oxide whereas medicinal products utilize hydro fluoroalkanes.
Cosmetics and personal care product market have been booming on account of increasing disposable income. Further, awareness regarding personal hygiene has also contributed to the usage of these items.
Increasing body spray, shaving cream, deodorants and hair color products demand is expected to further propel the global market growth over the forecast period. Retail sector development in emerging economies including India and China has contributed to the propelling the deodorants sales which in turn is expected to impact overall product use.
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Paint industry makes extensive aerosol propellants use especially in the spray paints manufacturing. Aerosol paints have industrial, commercial and household uses. These paints come in standard size cans and are light weight.
They are easy to store and convenient to use. Therefore, spray paints are extensively used in automobile bodywork, house painting, and enthusiasts. Wall graffiti is done using aerosol paints.
The paint industry followed cosmetic area in terms of demand and holds the largest share in the global market. The medical industry has shown significant applications through the aerosol propellants usage.
Oral inhaler medicines for asthma, pulmonary diseases and influenza are expected to drive the propellants use in the healthcare sector. Oral inhalers are convenient to use and provide instant relief. They are widely used in the body pain sprays manufacturing.
Health concerns associated with the use of these compounds is a major challenge which is expected to pull down the market growth. Inhalation of some propellants affects the human respiratory system. Flammable products must be handled with care to avoid aerosol burn injuries.
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Government regulatory bodies play an important use in deciding the usage of these materials. The Montreal protocol is an international treaty signed in 1989, phased out the chlorofluorocarbons production in an attempt to protect the ozone layer.
Such regulatory reforms are anticipated to challenge the industry growth. Aerosol sprays have been recently used in food industries which provide great opportunities for the market growth. Cooked spray and whipped cream are delivered with the help of nitrous oxide or carbon dioxide.
Crown holding provides packaging solutions through aerosol containers for food industry segment. The global market is segmented on the basis of its application and compound. Application segment includes cosmetic, healthcare, food and paint.
Cosmetic and paint industry hold the majority of the industry share followed by medical and food industry. Segmentation on the basis of compounds includes chlorofluorocarbons (CFC), volatile hydrocarbons, nitrous oxide and carbon dioxide.
Europe dominated the overall demand market and is expected to continue its lead mainly on account of high usage in cosmetic and personal care. Countries including France, Spain, the UK, and Germany have robust manufacturing plants for cosmetic products resulting from high product demand in the region.
Europe demand was followed by Asia Pacific owing to high paint usage in the automotive sector. North America has shown a steady growth on account of medical products, however increasing government regulations act as a barrier on account of noxious environmental effects associated with the product.
The U.S government has categorized non-empty aerosol cans as hazardous waste which is expected to restrain the product development in the region. Central and South America have shown a significant growth on account of high fragrances usage in the region.
Africa is anticipated to show a slow growth mainly on account of developing the retail sector. Key players in the market include Aveflor, AkzoNobel, National Gas Company, ExxonMobil, Harp International, DuPont, Bayer, Honeywell, Shell, Evonik Industries, Grillo-Werke, Emirates Gas and Aveflor Aeropres.
Companies are investing in technologies capable of developing new compounds that are safe for the environment. Organizations have developed propellants which comply with the standards set by the regulatory bodies for consumer products.
In July 2012, Honeywell introduced non-flammable and ozone-safe products. In January 2012, AkzoNobel extended its production capacity in Rotterdam plant up to 45000 metric tons per annum.
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