Aerosol Propellants Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 10.41 Billion |
| Market Size (2029) | USD 13.43 Billion |
| CAGR (2024 - 2029) | > 5.00 % |
| Fastest Growing Market | Europe |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Aerosol Propellants Market Analysis
The Aerosol Propellants Market size is estimated at USD 10.41 billion in 2024, and is expected to reach USD 13.43 billion by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).
The COVID-19 pandemic negatively affected the aerosol propellants market. The raw materials used to produce propellants are mainly obtained from crude oil. Due to the pandemic, the lockdown across the globe adversely affected the price of crude oil and caused a price fluctuation in the market. These factors affected the market for aerosol propellants. However, post-COVID-19 pandemic, the market registered significant growth due to rising demand for aerosol propellants in personal care, household, medical, and automotive industries.
- The growing demand from the personal care industry and the increasing applications of aerosol propellants in the food and beverage industry are expected to drive the market.
- Stringent government regulations on the use of aerosols are expected to hinder the market growth.
- The rising demand for eco-friendly propellants is expected to create opportunities for the market during the forecast period.
- The European region is expected to dominate the market. It is also expected to register the highest CAGR during the forecast period due to rising demand for aerosol propellants in personal care, household, and medical applications.
Aerosol Propellants Market Trends
Personal Care Application to Dominate the Market
- The demand for aerosol propellants is increasing in personal care applications. The aerosol propellants are used in various personal care products such as shaving creams, deodorants and antiperspirants, hair care products, infant care products, and body sprays.
- Aerosol propellants improve the aesthetics, performance, appearance, texture, durability, and protection properties of personal care products. The growing skin care industry in emerging economies is also fueling the demand for aerosol propellants.
- In the Asia-Pacific region, the demand for personal care products is increasing, which is driving the demand for aerosol propellants. According to CHINABRIEF, in 2022, the cosmetics and personal care products market revenue registered at USD 54.11 billion, as compared to USD 50.62 billion registered in the previous year, at a growth rate of 6.4%.
- Furthermore, the country's cosmetics and personal care market is expected to reach USD 78 billion by 2025. This is due to increasingly sophisticated consumers and a large middle-class section of people, and continuous growth in population is another factor fueling the demand for personal care and skin care products.
- Similarly, in India, the cosmetic industry has been experiencing robust growth, with growing preferences for beauty and hair care products. According to Loreal, the country could potentially become the epicenter of the beauty industry across the globe. In 2023, Loreal announced its revenue is expected to reach USD 1.16 billion (EUR 1 billion) in the next 3-4 years. These factors are anticipated to augment demand for the studied market in the country.
- Similarly, in the North American region, the demand for beauty and personal care products is increasing. According to a report by L'Or茅al, North America accounted for 28% of the global market in 2022. The United States ranks as the largest consumer market for beauty and cosmetics products, representing a share of approximately 20% of the total global market and generating around USD 50 billion annually in cosmetic sales. Thus, the increasing demand for cosmetic products is likely to drive the market for aerosol propellants.
- Owing to all these factors, the personal care application is expected to dominate the market for aerosol propellants during the forecast period.
The Europe Region to Dominate the Market
- The robust manufacturing base of cosmetic products in economies such as the United Kingdom, Germany, Spain, and France. is a notable contributing factor to the dominance of the European region in the aerosol propellants market.
- The European cosmetics and personal care industry is the world's largest cosmetic product market. According to Cosmetics Europe, in 2022, the sales of personal care and cosmetics products in the region registered at USD 94 billion, compared to USD 85.5 billion in 2021, at a growth rate of 9.94%.
- In 2022, the largest markets for cosmetics and personal care products within Europe were Germany (USD 15.5 billion), France (USD 14 billion), the UK (USD 11.4 billion), and Italy (USD 12.47 billion). Thus, the increasing sales of cosmetics and personal care products are anticipated to drive the market for aerosol propellants in the country.
- In the Food and Beverage industry, aerosol propellants are used to dispense fluid food products in the form of a liquid, foam, or spray. The food and beverage sector is one of the largest manufacturing industries in Europe. According to the FoodDrink Europe report published in December 2022, the food and beverage industry in the European Union employs 4.6 million people, has a turnover of USD 1.2 trillion (EUR 1.1 trillion), and a value-added of USD 244 billion (EUR 23 billion).
- Germany is the largest market for food and beverage products in Europe. The food industry represents the fourth-largest industrial sector in the country. According to data from the Federation of German Food and Drink Industries (BVE), in 2022, the total revenue of food and beverage processing in the country reached USD 20.7 billion, at a growth rate of 17.9% as compared to the previous year. Thus, the growth in the food and beverage sector will likely drive the market for aerosol propellants in the region.
- Due to all such factors, the market for aerosol propellants in the region is expected to grow during the forecast period.
Aerosol Propellants Industry Overview
The aerosol propellants market is partially consolidated in nature. Some of the major players in the market include (not in any particular order) The Chemours Company, Nouryon, Arkema, Shell PLC, and Honeywell International Inc., among others.
Aerosol Propellants Market Leaders
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The Chemours Company
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Nouryon
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Arkema
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Shell PLC
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Honeywell International Inc.
*Disclaimer: Major Players sorted in no particular order
Aerosol Propellants Market News
- The recent developments pertaining to the major players in the market are being covered in the complete study.
Aerosol Propellants Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand from the Personal Care Industry
4.1.2 Increasing Applications of Aerosol Propellants in the Food and Beverage Industry
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Stringent Government Regulations on the Use of Aerosol
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Type
5.1.1 Dimethyl Ether (DME)
5.1.2 Hyrdofluorocarbons (HFC)
5.1.3 Hydrofluoro Olefins (HFO)
5.1.4 Other Types (Nitrous Oxide, and Carbon Dioxide, etc.)
5.2 Application
5.2.1 Personal Care
5.2.2 Household
5.2.3 Medical
5.2.4 Automotive
5.2.5 Other Applications (Paints and Coatings, Food and Beverage, etc.)
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Malaysia
5.3.1.6 Indonesia
5.3.1.7 Thailand
5.3.1.8 Vietnam
5.3.1.9 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Spain
5.3.3.6 Russia
5.3.3.7 Turkey
5.3.3.8 NORDIC Countries
5.3.3.9 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Aeropres Corporation
6.4.2 Arkema Group
6.4.3 Aveflor AS
6.4.4 BOC
6.4.5 Diversified CPC International
6.4.6 Emirates Gas LLC
6.4.7 Grillo Werke AG
6.4.8 Honeywell International Inc.
6.4.9 Jiutai Energy Group
6.4.10 Nouryon
6.4.11 Shanghai Cal Custom Manufacturing & Aerosol Propellant Co. Ltd
6.4.12 Shell PLC
6.4.13 The Chemours Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rising Demands For Eco-Friendly Propellants
7.2 Other Opportunities
Aerosol Propellants Industry Segmentation
Aerosol propellant is a liquid or compressed gas used in whole or in part, such as a co-solvent, to expel a liquid or other material from the same self-pressurized container or separate container.
The aerosol propellants market is segmented by type, application, and geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). By type, the market is segmented into dimethyl ether (DME), hydrofluorocarbons (HFC), hydrofluoroolefins (HFO), and other types (nitrous oxide and carbon dioxide, etc.). By application, the market is segmented into personal care, household, medical, automotive, and other applications (paints and coatings, food and beverage, etc.). The report also covers the market sizes and forecasts for the aerosol propellants market in 22 countries across the major region. For each segment, the market sizing and forecasts have been done based on value (USD).
| Type | |
| Dimethyl Ether (DME) | |
| Hyrdofluorocarbons (HFC) | |
| Hydrofluoro Olefins (HFO) | |
| Other Types (Nitrous Oxide, and Carbon Dioxide, etc.) |
| Application | |
| Personal Care | |
| Household | |
| Medical | |
| Automotive | |
| Other Applications (Paints and Coatings, Food and Beverage, etc.) |
| Geography | |||||||||||
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Aerosol Propellants Market Research FAQs
How big is the Aerosol Propellants Market?
The Aerosol Propellants Market size is expected to reach USD 10.41 billion in 2024 and grow at a CAGR of greater than 5% to reach USD 13.43 billion by 2029.
What is the current Aerosol Propellants Market size?
In 2024, the Aerosol Propellants Market size is expected to reach USD 10.41 billion.
Who are the key players in Aerosol Propellants Market?
The Chemours Company, Nouryon, Arkema, Shell PLC and Honeywell International Inc. are the major companies operating in the Aerosol Propellants Market.
Which is the fastest growing region in Aerosol Propellants Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Aerosol Propellants Market?
In 2024, the Europe accounts for the largest market share in Aerosol Propellants Market.
What years does this Aerosol Propellants Market cover, and what was the market size in 2023?
In 2023, the Aerosol Propellants Market size was estimated at USD 9.89 billion. The report covers the Aerosol Propellants Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aerosol Propellants Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Aerosol Propellants Industry Report
Statistics for the 2024 Aerosol Propellants market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Aerosol Propellants analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
