The aerosol market is expected to hit $149.7 billion revenue by 2030, attributed to the rising demand for household and personal care products such as hair sprays, deodorants, sanitizer sprays and room fresheners. The increased investments to speed up the industrialization activities in the emerging economies and snowballing consumption of aerosol sprays for cleaning purposes are expected to increase the market in the near future.
Based on packaging material, the aerosol market is categorized into aluminum, plastic, steel and others. Aluminum generates the highest revenue, attributed to the massive usage of the metal for packaging aerosols. Due to the light weight of aluminum, it is widely preferred by the manufacturing companies over other materials; it also enhances the product look by making it appealing.
APAC is expected to witness extensive growth in the market in coming years, attributed to the rising demand for personal care products and others in the region facilitated by the flexible regulatory measures. The ease of application, uniform propulsion, and aesthetic appeal of aerosols propel the market. The increased awareness of cosmetic products such as shampoos and conditioners, bath and shower gels, liquid soaps, deodorants and antiperspirants also leads to market penetration in the region.
Companies are focusing on launching new products in the industry, based on rising demand of the personal care products and increased opportunity to dominate the market and enhance their position. For instance, Honeywell International Inc. partnered with the Vesismin Health and developed non-inflammable, easy-to-use, environment friendly aerosol to clean the surface affected by COVID-19 and other organisms. The key players of market are Akzo Nobel N.V., Henkel AG & Co., KGaA, The Chemours Company.
Thus, the rising demand for personal care products and rapid industrialization leads to expansion of the market.