New York, United States , Feb. 27, 2023 (GLOBE NEWSWIRE) -- The Global Aerosol Propellants Market Size to grow from USD 9.00 billion in 2021 to USD 17.11 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period. Demand for the product is also anticipated to increase as a result of the expanding use of aerosol propellants in cosmetics and personal care goods. Additionally, throughout the anticipated period, new product introductions in the categories of shaving foams, shampoos, deodorants, and antiperspirants are anticipated to provide significant market potential.
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The Hydrocarbons segment to account for the largest market size during the forecast period.
Based on the product, the Aerosol Propellants Market is categorized into Hydrocarbons, Nitrous Oxide & Carbon Dioxide, DME & Methyl Ethyl Ether and Others. The Hydrocarbons segment to account for the largest market size during the forecast period. Throughout the forecast period, the Hydrocarbons segment is anticipated to maintain its leading position Due to their low toxicity, cheap cost, and non-reactivity, which makes them ecologically acceptable, pharmaceutical aerosols account for a large portion of their market share. Additionally, they don't include halogen, making them great water-based aerosols or propellants, which will help their demand throughout the predicted period.
The Personal Care segment to hold a higher CAGR during the forecast period.
Based on the application, the Aerosol Propellants Market is categorized Household, Personal Care, Paints & Coatings, Medical, Automotive & Industrial, Foods and Others. The Personal Care segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Personal Care segment is anticipated to maintain its leading position while expanding at the fastest CAGR. Its high percentage may be attributed to a number of developments, including economic expansion, an escalating middle-class population, and rising per capita income. Antiperspirants and deodorants are categorised as daily-use products. The market for personal care products, particularly antiperspirants and deodorants, is being driven by elements including healthy ingredients, attractive container designs, and packaging innovation.
Browse 52 market data Tables and 62 Figures spread through 250 Pages and in-depth TOC on “Global Aerosol Propellants Market Size, Share, and COVID-19 Impact Analysis By Product (Hydrocarbons, Nitrous Oxide & Carbon Dioxide, DME & Methyl Ethyl Ether and Others), By Application (Household, Personal Care, Paints & Coatings, Medical, Automotive & Industrial, Foods and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030”.
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COVID-19 Impact and Analysis
On credit portfolios, the COVID-121.9 epidemic has had a negative effect. The enormous growth has hampered the solvency of customers and business in unemployment and interruption of economic activity. Central banks have adopted a proactive strategy of injecting money into the market by decreasing interest rates and implementing asset purchase programmes. With persistent geopolitical tensions, global trade battles, and sporadic hurricanes and earthquakes, managing and monitoring credit, market, liquidity, and operational risk across financial markets was challenging enough. Chief risk officers and their teams have had to reevaluate outdated methods and assumptions used to manage and monitor risk due to the present pandemic crisis. The global repercussions of COVID-19 have demonstrated the significance of interconnection in international cooperation. As a result, many governments have been hurrying to find, assess, and buy trustworthy AI-powered solutions.
North America to hold a higher CAGR during the forecast period.
The Global Aerosol Propellants Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Europe is estimated to account for the highest market share in 2022. The demand for Aerosol Propellants is being driven by the rising acceptance by the market. The market for Aerosol Propellants was dominated by the Europe region this is explained by Sales of cosmetics and personal care items are anticipated to increase dramatically as a result of the growing trend of online shopping in Europe. Due to advantages including regular purchases, a comprehensive product portfolio for a huge variety of brands, discounts, promotions, and special offers, consumers prefer online shopping. Consumers' propensity for grooming may be ascribed to the rising demand for cosmetics and other personal care goods, especially in Germany, Italy, France, Spain, and the UK. This trend is also anticipated to drive market expansion. In Europe, the industry for personal care goods is well-established, which leads to high demand of aerosol.
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Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Aerosol Propellants Market include Aveflor AS, Arkema Group, AkzoNobel N.V., Aztec Aerosols Limited (Instarmac Group Plc), Diversified CPC International, Emirates Gas LLC, Grillo-Werke Aktiengesellschaft, Harp International Ltd., Honeywell International Inc., Jiutai Energy Group, Nouryon Aeropress Corporation, Repsol S.A. Royal Dutch Shell PLC, Shanghai Cal Custom Manufacturing & Aerosol Propellants Co. Ltd, The Chemours Company, and Crucial Industry Insights.
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