Aerosols are used in a wide range of applications such as dispersal of pesticides, household sprays, medical treatment and combustion technology. On the other hand, a propellant is a chemical which is used in the production of pressurized gas and energy to create the movement of a fluid in an object. There are two main types of propellants which include compressed gas propellants (nitrous oxide, carbon dioxide, and nitrous oxide) and the liquefied gas propellants (fluorocarbons, hydrocarbons, and ethers). Stringent environmental regulations for limiting the use of CFCs have fueled the demand for aerosol propellants. The global market for aerosol is expected to reach more than USD 65 billion by the end of 2018, growing at a CAGR of 4.0% from 2013 to 2019.
The basic raw materials used in the production of propellants include coal, natural gas, methanol, and feedstock. There is a significant threat of forward integration from raw material suppliers entering the manufacturing space. Propellants either reach the aerosol producers directly through the industry participants by distribution of their own brands, or through integrated producers.
Increasing consumer awareness towards personal health and hygiene and the growth of the global aerosol market ensures continuous growth of the global propellants market. The steady growth in the aerosol industry supported by frequent new product launches has remained the major driving factor for this market. The hazards associated with aerosol propellants and flammable and explosive properties of aerosol propellants such as propane or butane are the various factors challenging the growth of propellants market. Development and launch of eco-friendly products can enable manufacturers to capitalize on the growing demand for greener aerosol propellants. Moreover, the phase-out of CFCs and HCFCs and limited availability of conventional hydrocarbon propellants is also providing growth opportunity for new and eco friendly propellants in the market.
The global aerosol propellants market was dominated by hydrocarbons including propane, n-butane, and isobutane which accounted for more than 80% of the total market volume in 2012. Butane and propane are most widely used as aerosol propellants. Dimethyl ether (DME) and methyl ethyl ether are other important propellants used in the aerosol industry. DME and methyl ethyl ether are growing in popularity among aerosol manufacturers as they are eco-friendly and offer potential replacement value for conventional hydrocarbon propellants. In addition, a small volume of nitrous oxide and carbon dioxide is also being used as aerosol propellants.
In 2012, household aerosol products accounted for more than 50% of the market share and are expected to maintain dominance in the future as well. This is driven by new product launches in this segment which provide efficiency and convenience to consumers. Medical and paints and coatings are highly attractive markets and expected to grow at a CAGR of over 4% from 2013 to 2019. Other applications which include auto care, industrial sprays, food, veterinary, etc. are expected to see a reduced market share due to increasing stringent regulations on the propellants used in aerosol products.
Europe is expected to remain the leading market for aerosol propellants in terms of demand and is expected to command 35.7% of total volume consumption in 2019. North America was the second largest market for aerosol propellants with 30.7% share in total volume consumption in 2012. The Chinese market is the most attractive market for aerosol products with high growth potential in Asia Pacific. Although Europe and North America are leading the global market, for aerosol, the future growth, however, is expected to come from the Asia Pacific market. Currently the aerosol market in Asia Pacific is growing at a sluggish rate but is expected to show promising growth trends in the near future.
Increase in consumption of aerosol propellants in paints and coatings, medical and household applications are fueling the demand for aerosol propellants. Steady and consistent demand from the aerosol industry is expected to be a major growth engine for the global aerosol propellants market. Propellants are the chemical used in an aerosol container to generate pressure that pushes the contents out of a nozzle once released; therefore it is one of the key ingredients in aerosol sprays.
This report segments the aerosol propellants market based on applications, regions and product segments and provides forecast and estimates for each sub-segment. The report presents supply and demand characteristics of aerosol propellants and applications by providing a detailed forecast from 2013 to 2019 along with revenues and volumes analysis. It provides the opportunities for aerosol propellants market available in near future information along with latest trends, driving and restraining factors influencing the market. The report also includes market attractiveness based on the applications. The market attractiveness will help to analyze the opportunities in the market.
Based on the type aerosol propellants market can be categorized into different segments such as CFC; hydrocarbons (propane, n-butane and isobutane); dimethyl ether (DME) and methyl ethyl ether; nitrous oxide and carbon dioxide. Hydrocarbon was the dominating aerosol propellants product segment in terms of consumption across the world.
Key aerosol propellants applications analyzed, estimated and forecasted in this report includes paints and coatings, medical and households. Household aerosol products such as personal care, insecticides, plant protection sprays, and bath/kitchen cleaners dominate the consumption of aerosol propellants in the market.
North America, Europe, Asia Pacific and Rest of the world (RoW) are the key regions covered in this report. Each of the above mentioned regions are further segmented in to the type and applications of aerosol products and thorough analysis of each type and application terms of volume and revenue in 2012 and forecast until 2019 has been included into the report. The detailed analysis of market revenue share of the companies such as AkzoNobel NV, AVEFLOR, a. s., Aeropres Corporation, Bayer MaterialScience AG, Honeywell International Inc, Lapolla Industries Inc, National Gas Company S.A.O.G and Royal Dutch Shell plc included into this report.
Inflation is not a part of pricing in this report. Prices of aerosol and spray polyurethane foams vary in each region; hence, a similar volume to revenue ratio does not follow for each individual region. The same price for each application has been taken into account while estimating and forecasting market revenue on the global basis. Regional average price has been considered while breaking down this market by application segment in each region. We use models and estimates in order to produce comprehensive data sets when there is no hard data available. We have used the bottom up approach to arrive at the global market considering individual application segments and integrating them to arrive at the global market. The applications have been further bifurcated using top down approach to derive the regional product market consumption.
For the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represented the bulk of research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations and agencies. This has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights and recognizing business opportunities.
The market has been segmented as below:
Aerosol Propellants Market: Product Segment Analysis
- Hydrocarbons (propane, n-butane and isobutane)
- Dimethyl ether (DME) and methyl ethyl ether
- Nitrous oxide and carbon dioxide
Aerosol Propellants Market: Regional Analysis
Rest of the World (RoW)
Aerosol Market: Application Analysis
- Paints and Coatings
Aerosol Market: Regional Analysis
Rest of the World (RoW)
Spray Polyurethane Foam Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World (Middle East, Africa, Latin America)