The ‘Global Aerosol Market’ was valued $81.2 billion in 2020 and is expected to reach $ 191.3 billion at the CAGR of 7.7% between 2021 and 2031.
MILWAUKEE, WISCONSIN, UNITED STATES, October 26, 2021 /EINPresswire.com/ — According to a global Aerosol market report published by Sheer Analytics and Insights, the total market was valued at $81.2 billion in 2020, growing at a high CAGR of 7.7% between 2021 and 2031. It is estimated to reach $191.3 billion by 2031. The Asia Pacific dominated the global aerosol market in 202 with 33.2% market share in terms of volume and 34.2% market share in terms of value, and it is anticipated that Asia-Pacific would dominate the global aerosol market during the forecast period. The Asia-Pacific aerosol market is expected to grow at a CAGR of 9.1% in terms of volume and 10.3% in terms of value during the forecast period.
Covid has impacted the market positively, and global production has seen good growth in terms of hand sanitizers and surface disinfectants. The global aerosol market is mainly driven by the growth in key industries such as household and industrial. The growth in key industries is anticipated to sustain throughout the forecast period; therefore, it is anticipated to have a moderate positive impact on the global aerosol market in the short term. Moreover, technological advancement, product innovation and increased industrial applications in key industries are anticipated to have a high positive impact in the long term. The emerging economies offer a high potential market for aerosols. The increasing investment in automobile industries, food and beverages and rapid urbanization has driven the demand for aerosols, and it is anticipated to have a high positive impact on the aerosol market during the forecast period. The increase in disposable income of an individual and growing awareness about personal care and hygiene has positively affected the aerosol demand. People are increasingly concerned about their health issues and the ingredient used in the product. It is shifting the demand towards eco-friendly products, which would have a positive impact on the growth of the aerosol market during the forecast period.
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With keen emphasis focused on technological advancement, product innovation, and strict regulation for cutting emission of greenhouse gases, it helps its market to grow. Strict rules and regulations and increased government and regulatory authorities’ intervention would impact the growth of the global aerosol market in a highly positive manner during the forecast period. Another factor that hinders the growth of the aerosol market is the health hazards associated with aerosols. Aerosol sniffing and the health-related issue will impact the growth of the aerosol market in a negative manner. It is anticipated to have a moderate impact on the growth of the global aerosol market during the forecast period.
In terms of packaging material, Lacquered tinplate holds the main market share of more than 42.3% in 2020. The reason of using Lacquered tinplate is its lower cost of production and easy procurement.
According to the study, key players operating in this market are 3M, Akzo Nobel N.V, Arkema Group, Linde Plc, The Chemours Company, Royal Dutch Shell p.l.c., Henkel AG & Co. KGaA, Honeywell International Inc., Diversified CPC International, Emirates Gas LLC, Proctor & Gamble, Honeywell, Unilever, Henkel AG, Godrej, Grillo-Werke AG, ITC Limited, J & J and Reckitt.
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The Global Aerosol Market Has Been Segmented into:
Global Aerosol Market: By Packaging Material
Lacquered tinplate (Steel with layer of tin)
Plastic and other polymers
Global Aerosol Market: By Applications
a) Personal Care
Deodorants and Perfumes
Insecticides & Plant Protection
Furniture & Wax Polishes
c) Automotive & Industrial
Pain Relieving Sprays
Global Aerosol Market: by Region
Latin America, Middle East and Africa (LAMEA)
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Source: EIN Presswire