Aerosol Market-Forecast (2018-2023)
Posted by Venkatesh on September 5th, 2018
According to the latest Aerosols market report by IndustryARC, titled “Aerosol Market: By Application (Personal Care, Household, Commercial, Food, Medical); By Geography (Americas, Europe, Asia-Pacific, RoW) - (2018-2023)”, the market is estimated to grow with a CAGR of 3.16% during the forecast period, and will reach .89 billion by 2023.
Europe held major market share during 2018-2023
Europe remains the prominent region for the growing demands for Aerosols Market, owing to the significant growing consumption of personal care products in countries such as Germany and the UK. The key end user markets in Europe are personal care, household products, food, and medical devices. Cosmetics and household products represent approximately 80% of the European production share. Countries such as the UK, Germany, Italy, and France hold the key manufacturing hubs. The European Aerosols Market is projected to reach billion in 2023 at a CAGR of 2.85%.
Selected type of Patent Analysis done in the full report
The patents for aerosol were granted across many application areas, including personal care, medical applications, food & beverages along with other niche sectors and processes. Moreover, new developments and inclined investments into the R&D department has also led to this increase in new patent registrations. Many individuals as well as small organizations have also filed a considerable number of patents. However, encouraging consumers to swap traditional products for aerosol based products is a major challenge for product penetration.
To Access the full report, please click the link below:
Excerpts on Driving Factors Mentioned in the Full Report:
Personal Care has been identified as the major growth driver for the market and deodorants is one of the major revenue generators as it contributed a major chunk to the personal care market. Also, convenience coupled with growing consumer demands for aerosol products are set to drive the market in the coming future.
Adding to the above, spray paints in construction and automobile industry is another application area. Automotive aerosols are used as brake cleaners and fuel-engine intake cleaners. The only disadvantage of these cleaners are emissions of Volatile Organic Compounds. The Volatile Organic Compounds list encompasses numerous elements from propane to DICHLOROBENZENE
Aerosols need no introduction as the populace very well connects with the protection of the products that are free from external contamination. This, coupled with the property of the packaging being completely recyclable, makes aerosol a unique delivery system.
The key factor that has facilitated the growth of the top players in this highly competitive market is their ability to cater to the customer’s requirements and early entrance into emerging application areas, such as food & beverages.
Aerosols can largely be used in household applications such as in insecticides. Aerosol propellants are used to discharge food additives/colorants such as whipped cream and cooking spray. They are also increasingly being used for innovative packing solutions in the beverages industry.
The key factor that has steered the growth of the aerosol manufacturers in this competitive market is their potency and caliber to match the customer requirements and their early penetration into emerging application areas such as food & beverages.
Key players of Aerosols Market:
Aerosols Market Report is segmented as indicated below.
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications in a Market. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business.
We look forward to support the client to be able to better address their customer needs, stay ahead in the market, become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.
Like it? Share it!
About the AuthorVenkatesh
Joined: August 23rd, 2018
Articles Posted: 184
More by this author