The rapid industrialization in developing countries, such as Indonesia, China, Thailand, Brazil, and India, has increased the consumption of aerosol in the manufacturing sector. The expansion of this sector is attributed to the huge investments and sudden shift of manufacturing base, owing to the easy availability of raw materials and cost-effective labor, in these emerging economies. The household, personal care, medical, automotive, industrial, food, and paints and coatings sectors in these countries utilize aerosol in high amount in the production of numerous products.
Moreover, increasing shift toward herbal or organic aerosol products will fuel the aerosol market at 6.4% CAGR during 2020–2030. The market size is expected to rise from $81.1 billion in 2019 to $149.7 billion by 2030. Manufacturers of personal care and cosmetic products are utilizing organic aerosol instead of chemicals to reduce harmful effects on the skin. The harmful chemicals can lead to skin disorders like blemishes, acne, and rashes. Owing to these problems, customers are switching to items that are prepared from natural and herbal floral extracts, blended with essential oils.
In recent years, several players, such as Akzo Nobel N.V., Grillo-Werke AG, Arkema Group, Emirates Gas LLC, Linde Plc, Diversified CPC International, Honeywell International Inc., Royal Dutch Shell p.l.c., and Henkel AG & Co. KGaA, have launched an array of novel and advanced products and collaborated with other companies to gain a competitive edge in the market. For instance, in July 2020, Honeywell International Inc. entered into a collaboration with Vesismin Health, to offer a non-flammable, environmentally preferable, and easy-to-use aerosol solution to disinfect areas against viruses, fungi, and bacteria.
On the other hand, during the forecast period, the Asia-Pacific aerosol market will witness the fastest growth in the forecast years. This can be ascribed to the surging awareness regarding cosmetic products such as antiperspirants and deodorants, hair care items like conditioners and shampoos, men’s grooming products, and bath and shower related items like liquid soaps and shower gels. Besides, the increasing consciousness about physical appearance and a notable rise in disposable income will act as catalysts for the market growth in the region.
Thus, the rising preference for organic cosmetics will boost the consumption of aerosol in the coming years.
Source: www.psmarketresearch.com
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