Application of aerosol propellant in multiple industries has generated increased demand within the global market. The essence of market growth is enshrined in improvements across the chemical industry. The physical and chemical properties of aerosol propellant have helped researchers in discovering a multitude of their uses. Furthermore, the ease of manufacturing aerosol propellant from metals that can safely contain compressed gases and liquids is an important consideration for market vendors. These propellants can also be manufactured with the help of steel sheets, and the abundant availability of steel could contribute to market growth. Butanes and fluorocarbons can be used as effective aerosol propellants.
- The cosmetics industry has played an integral role in driving sales across the global aerosol propellant market. Need for high-end cosmetic products has compelled manufacturers to accelerate their speed of manufacturing. Use of aerosol propellant in cosmetics has garnered the attention of big brands in the personal care industry. Furthermore, cleaning liquids used in the residential sector are also manufactured from aerosol propellants. Therefore, the global market is expected to attract sustained demand in the following years. Availability of nitrogen and propane has helped the market vendors in expediting the process of manufacturing.
- Aerosols used in the US are duly monitored on the recommendation of several committees formed for environmental protection. Aerosol propellants are believed to contribute towards depletion of the ozone layer. This factor could hamper the smooth rate of growth for the global aerosol propellant market. However, aerosol propellants manufactured from nitrous oxide do not contribute towards ozone layer depletion. This factor has emerged as a ray of hope for vendors who were apprehensive about the growing flak against the use aerosols. The vendors are expected to focus on tying up with manufacturers of cosmetic and personal care products in order to attract increased revenues.
Global Aerosol Propellant Market: Overview
The aerosol propellant spray is a type of spray that creates a mist of aerosol liquid particles. It can be used with a bottle or a can that has a payload and propellant. This propellant is under pressure and once the container valve is opened, the payload is sent out with a force and creates the previously mentioned aerosol or mist.
Global Aerosol Propellant Market: Notable Developments
Some of the notable developments in the global aerosol propellant market are listed below:
- In January 2015, SRF Ltd., an industry leader in the global aerosol propellant market announced that the company has acquired the global 134a regulated medical pharmaceutical propellant from DuPont. With this agreement, SRF Ltd also acquired DuPont’s flagship Dymel® brand and received the tech and other information for setting up of their own product manufacturing systems. This takeover has significantly helped in boosting the product portfolio of SRF Ltd. and also bolstering its brand value in the global market.
- In June 2019, Solvay Inc. announced that the company has introduced a new fragrance by the name Natural Vanillin. The product is called Rhovanil® US NAT. Solvay has provided important raw material for the production of the fragrance. With this move, Solvay is trying to extend its portfolio of Aroma chemicals beyond the conventional diphenol chains to meet the market expectations of flavors and fragrance.
- In July 2019, AkzoNobel announced that the company is planning to add three new manufacturing lines at its powder coating plant in Changzhou, China. This facility is the largest facility of its kind across the globe. The investment needed for these proposed new changes will be around 3 million euros and will help in developing the existing production capacities of the facility.
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Global Aerosol Propellant Market: Drivers and Restraints
There are numerous factors that are instrumental in fueling the demand for the aerosol propellant market. One key factor is the increasing demand for aerosol products such as deodorants, paints, and air fresheners among others. In addition to this, increasing application of aerosol propellants in the personal care product industry is also driving the growth of the global market.
The growing adoption of aerosol-based products across a variety of industries such as personal care, pharmaceutical, and cosmetics is playing a big role in the development of the global aerosol propellant market.
One biggest end-use vertical of the global aerosol propellant market is fragrance industry. People across the globe are willing to spend premium amount on exotic fragrances. This has also turned out to be huge driving factor for the growth of the global aerosol propellant market.
Global Aerosol Propellant Market: Geographical Outlook
The global aerosol propellant market is segmented into five regional markets namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Of these regional markets, the Asia Pacific segment is projected to witness maximum growth potential over the course of the given forecast period. This is due to the presence of emerging economies such as India and China that has economically stronger middle-class population. Also, these nations are creating opportunities such as investments and ideal business environment for the market to thrive. Additionally, introduction of innovative products that are environmentally friendly and have low VOC content is also helping in raising the uptake of aerosol propellant market in the region.
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The developing automobile industry in the US and Mexico is projected to help the aerosol propellant market in North America to grow at significant pace. On the other hand, Latin America and the MEA markets are expected to have steady market growth rates.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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