New York, NY, June 19, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Aerosol Market by Product (Sprays, Mists, Dusts, and Fumes) for Personal Care, Household, Automotive, Food, Paints and Healthcare applications by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)- Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024’’. According to the report, the global aerosol market was valued at around USD 78.0 Billion in 2017 and is expected to reach approximately USD 121.2 Billion in 2024, growing at a CAGR of slightly above 6.0% between 2018 and 2024.
Aerosols are solid particles or fine liquid droplets that remain suspended in the air as smoke or fog. These nongaseous bits having a size from 0.001 to 100 microns are produced from artificial and natural sources, with the inclusion of sulfuric acid, pollen and mineral dust. Majority of the aerosols found in the atmosphere are from natural sources. Amongst these vital natural components include smoke from forest fires, products of volcanic emissions, rock and solid debris and solid & liquid particles formed through chemical reactions in the atmosphere. Chemical and physical properties of the substance depend primarily on the particle size they are made of. When particles are sufficiently large, they possess similar properties as a macroscopic sample of the same material.
Browse through 67 Tables & 25 Figures spread over 130 Pages and in-depth TOC on "Global Aerosol Market Size & Share 2018: Industry Demand, Trends, Growth Analysis and Forecast, 2024”.
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Advantages of paint aerosols such as short application time, good resistance to solvents, corrosion and abrasion along with lustrous protective coating will offer wide growth potential to aerosol in paints industry. Rising urbanization has led to shifting of population from temporary to permanent houses. Further, people opting for such houses prefer attractive interior and exterior paint decorations. In India, nearly 70% of paint demand is from the decorative segment and automotive segment accounts for 66% of industrial paint consumption. Infrastructure application generates direct and indirect paints demand through the growth of FMCG, automobile, realty and other industries. These industries have witnessed tremendous growth potential in last decade, leading to strong growth prospects for the paint industry.
Aerosol products are used as penetrating lubricant oil in construction projects to loosen rusted parts and stop squeaks. It even provides a protective barrier to metals against corrosive environments such as chemicals and salt water. Rapid innovation and advanced technologies are generating new tools, models, and approaches for infrastructural development to cut down its costs, resulting in booming construction projects. The desire to identify new funding and pricing models have unlocked pipelines and have unleashed a new era of development. Further, broader perspectives on issues such as investment, governance, and sustainability are fueling greater sophistication in infrastructural development.
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Regional segmentation of aerosol market comprises of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America is projected to witness significant gains over the forecast timeframe owing to its flourishing cosmetics industry. The industry valued at more than USD 80 billion in 2015 and will grow over 4% CAGR till 2024. In 2014, the region was leading in beauty products and color cosmetics with a contribution of nearly 20% in the global market. The market share of the region is attributed to high penetration rate, inclination towards spending on appearance and high purchasing power. Increasing preference for natural beauty, organic and vegan products to curtail harmful effects of dust, sun and pollution will drive the industry between 2018 and 2024. Further, the U.S. is the biggest market for organic personal care products and has bulged into maximum demand for cosmetics products in the same category. Other drivers include increasing share for ethnic products, new color palettes and lasting power of these items.
Presence of established automobile manufacturers and increasing customers is driving automotive industry in Europe. Aerosol paints are used in the industry to coat vehicle parts. Boost in integration operations, site relocations, and mergers & acquisition activities are increasingly witnessed in the region. Recovering economy in certain European countries and boosting economic growth in established nations is influencing sales of commercial vehicles and passenger cars. Producers are strengthening their self-sufficiency throughout the value chain by exploring the possibility of forwarding and backward integration. Significant investments are expected in the industry in near future, especially in the auto component sector. Advanced technology, climate-related policies and shifting consumer preferences is fueling the demand for smart, fuel efficient and environment-friendly vehicles. Moreover, there exists a strong outlook for hybrid vehicles in near future in Germany, UK, and Spain.
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The Asia Pacific will account for major share of global aerosol market subject to its paints and coating industry growth. In 2013, the region registered a sale of USD 56.241 billion in coatings, with over 18 billion liters consumption. The region comprises of large and fast-growing countries in the industry. Two of the fastest growing market in the region is India and China. They both contribute nearly 75% of the region’s coating demand. Other significant but small countries contributing to the regional demand are Vietnam, Malaysia, Thailand, and Indonesia. The Asia Pacific accounts for over 60% of the global population with two most populous countries namely India and China. Increasing housing sector along with rapid industrialization is boosting paints and coating consumption in the region.
GCC healthcare industry is anticipated to grow at above 12% CAGR between 2015 to 2020. Rising cost of treatment and increasing population are the significant drivers for the regional growth. The industry is projected to expand between 11 to 13% in each GCC country from 2015 to 2020. Rising prevalence of lifestyle-related diseases coupled with the era of demographic transition has brought development of healthcare sector to a center stage. GCC government is investing heavily in the medical sector along with encouraging private players to build clinics and hospitals, match the quality of services, and upgrade existing infrastructure.
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Manufacturers are focusing on product development and innovation for personal care and household applications segment. Certain players are investing in research and development to enhance their product quality. Major producers in the aerosol market include AkzoNobel N.V., Crabtree & Evelyn, Ltd, Thymes, LLC, S. C. Johnson & Son, Inc, Reckitt Benckiser Group plc, Henkel AG, Unilever PLC, and Proctor & Gamble.
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The report segments global aerosol market as follows:
Aerosol Market: Product Segment Analysis
- Sprays
- Mists
- Dust
- Fumes
Aerosol Market: Application Segment Analysis
- Personal care
- Household
- Automotive
- Food
- Paints
- Healthcare
- Others
Aerosol Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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