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Spray June 2016

Market Research Projects Aerosol Growth AAccording to several market research reports, demand for aerosol components is expected to rise in the next five years or so. The increasing popularity of bag-on-valve (BOV) technology, as well as the booming paints and coatings industry in developing countries, is boosting the valve market. The propellant market is experiencing growth because of increases in automobile production and infrastructure spending in several Asian countries, while the aerosol container market in Europe is expected to see substantial growth due to widespread use of aerosol products in the household, paint and pharmaceutical/ medical industries. Valves Global aerosol valve demand was 14.92 billion units in 2014 and is expected to grow to 18.50 billion units by 2022, growing at a compound annual growth rate (CAGR) of 2.8% from 2015 to 2022, according to a new report by Grand View Research, Inc. The global aerosol valve market is expected to reach $1.73 billion by 2022. Rising expenditure for the use of BOV technology by personal care manufacturers in their products is expected to promote the application of aerosol valves in the near future. Demand for aerosol valves in paints exceeded 900 million units in 2014. The growing paints and coatings industry in Asia Pacific, on account of rising construction expenditure, particularly in new residential and commercial buildings, is expected to drive industry growth over the forecast period. Demand for continuous valves exceeded 12 billion units in 2014. These products are commonly used across a wide range of applications owing to their ease-of-use, design and high market visibility. Medical applications are expected to witness growth at a CAGR 30 Spray June 2016 of 1.6%, in terms of volume, from 2015 to 2022. Increasing use of pain relief sprays among sports organizations for the treatment of onfield injuries is expected to drive demand over the next seven years. However, low adoption rate among consumers and stringent regulations for this sector are expected to result in sluggish growth over the forecast period. Propellants The aerosol propellant market is anticipated to be valued at $27.6 billion by 2022, according to a new research report by Global Market Insights, Inc. Increasing demand for household and personal care products such as deodorant, shaving cream, hair spray and dry shampoo among young consumers is anticipated to drive demand. Increasing demand for anti-aging products among aging populations is also likely to support aerosol propellant market growth. An increase in automobile production, coupled with rise in infrastructure spending in countries such as India, China and Indonesia, is likely to have a positive influence on demand for spray paints. Hydrocarbon-based propellants such as n-butane, isobutane and propane occupied a major chunk of the market, accounting for over 82% of the aerosol propellants market share in 2014. Dimethyl ether (DME) and methyl ethyl ether were the second best-selling products and are likely to witness growth rates of over 5% leading up to 2022. Key insights from the Global Market Insights report include: • The global aerosol propellant market size was estimated at 9.53 million tons in 2014 and may register 13.73 million tons by 2022, growing with an estimated CAGR of 4.7% from 2015 to 2022. • Personal care applications had the dominant market share of 37.6% in 2014 in terms of volume. Increasing use of antiperspirants, hair care, skin care and infant care products is likely to drive demand for personal care applications. Food applications are likely to witness high gains with an estimated CAGR of 5.2% leading up to 2022. • Europe registered the highest consumption of aerosol propellant with an estimated share of 37% in 2014. Countries such as France, Germany, UK and Spain witnessed growth in the personal care and cosmetic industry over the past few years. Asia Pacific is likely to witness the highest gains with an estimated CAGR of 5.7% leading up to 2022. Containers The European aerosol container market is expected to reach $1.37 billion by 2022, according to a new report by Grand View Research, Inc. It is expected to witness substantial growth over the forecast period owing to its widespread use in the household, paint and pharmaceutical/medical industries. Furthermore, growing demand for these products from food-andbeverage and automotive applications is expected to propel market growth over the projected period. Increasing demand for cosmetic products in countries including UK, France, Germany and Italy is expected to have a positive impact on market growth. Furthermore, rising demand from the personal care sector owing to increasing use of AP/deodorant, hair spray and shaving cream among the younger population is expected to be a key driver in aerosol container market growth. Growing demand for glass aerosol containers from the medical industry, including pharmaceutical manufacturers, as well as laboratory research, is expected to drive production over the forecast period. Metal aerosol container production in France was over $130 million in 2014. The presence of a large number of personal care companies, coupled with rising use of these products in personal care packaging, is expected to propel demand over the next seven years. France is the fourth largest paint exporter in the world and has been exporting to economies including Poland, Turkey and Russia. Rising demand for paint from various applications, especially construction, is expected to propel container production in the region. Spray


Spray June 2016
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