Global Aerosol Spray Propellants Market is Expected to Reach USD 23.2 Billion by 2023

Transparency Market Research has released a new market report titled “Aerosol Spray, SPF (Aerosol Spray Polyurethane Foam) and Aerosol Propellants (CFC, Hydrocarbons, DME and Others) Market for Paints, Coatings, Medical and Household Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” which observes that the global aerosol propellants market was valued at USD 16.4 billion in 2012 is expected to reach USD 23.2 billion by 2019, growing at a CAGR of 5.1% from 2013 to 2019.

Increasing consumer awareness towards personal health and hygiene and their growing demand for different products are the major factors driving the global aerosol market. One of the major factors driving the demand for propellants is the steady growth of the global aerosol market. However, various environmental and health risks associated with the use of fuels in aerosol products are expected to be a restraining factor for the market. Hydrocarbons dominate the aerosol propellants industry and the development of innovative, eco-friendly aerosol propellants is expected to offer major growth opportunities for industry participants.

Key applications industries for aerosol include paints and coatings, household products, medical to auto care, industrial sprays, food, and veterinary among others. Spray Polyurethane Foam (SPF) is one of the more predominantly used aerosols. SPF is mainly used in the paints and coatings industry. Strong demand from the paints and coatings industry is expected to trigger the growth of SPF and the overall aerosol industry in the years to come.

Hydrocarbons including propane, n-butane, and isobutane accounted for over 80% share of the total aerosol propellants market volume in 2012 and are expected to grow at a CAGR of 4.5% from 2013 to 2019. Hydrocarbons, due to their lower cost and high compatibility with all the other old and new propellants, are widely used in aerosol products. In addition, they are on the “Generally Recognized as Safe” (GRAS) list which is another factor expected to drive market growth. With a 7.7% share in total volume consumption in 2012, dimethyl ether (DME) was the second largest segment of the aerosol propellants market. Chloro fluoro carbons (CFCs) which accounted for 0.3% share in total volume consumption in 2012 are expected to witness a decline in their market share in the years to come. Due to stringent environmental regulations the use of CFC has been phased out from all applications. However, a small volume of CFC is still in use as an aerosol propellant and is being traded in the black market.

With over 37% share in total volume consumption in 2012, Europe was the guiding regional market for aerosol propellants and is expected to grow at a CAGR of 4.0% from 2013 to 2019. North America was a large market for aerosol propellants with a 30.7% share in total volume consumption in 2012. Asia Pacific is expected to be the fastest-growing region over the next six years, due to rising consumer income, increasing awareness, changing lifestyles, and increasing demand for aerosol products.

The U.S. was the largest aerosol propellants consuming country in 2012, followed by China and Germany. The global aerosol propellants market was highly fragmented and consists of a large number of small and medium-scale manufacturers. In this highly dynamic industry, distribution plays a very important role and is the key to success. Lindal, Aeropres, and Diversified CPC International are among the major players in this market.