Aerosol Propellants Market

Aerosol Propellants Market Size:

The global aerosol propellants market size reached US$ 10.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.4 Billion by 2032, exhibiting a growth rate (CAGR) of 5.4% during 2024-2032. The increased consumer demand for convenience products, growth in industrial and automotive applications, regulatory trends favoring eco-friendly propellants, innovations in sustainable propellants, and expanding applications across various sectors are some of the major factors propelling the market growth.

Aerosol Propellants Market Analysis:

• Major Market Drivers: The rising demand for convenience products such as personal care items, household cleaners, and food products represents the major factor driving the aerosol propellants market growth across the globe. Aerosol packaging offers ease of use and precise application, enhancing consumer appeal. Regulatory pressures for more environmentally friendly propellants also contribute to the expansion of the market. In line with this, the growth in industrial and automotive sectors, which use aerosol propellants in lubricants, paints, and coatings, further stimulates the product demand in the market.
• Key Market Trends: The growing shift toward sustainable and eco-friendly alternatives represents the key trends of the market. With increasing environmental regulations, there is a growing adoption of low-global-warming-potential propellants like hydrofluoroolefins (HFOs) and compressed gases. Innovations in propellant technology are enhancing performance while reducing environmental impact.
• Geographical Trends: According to the aerosol propellants market overview, Europe accounts for the largest region in the market across the globe. Stringent environmental regulations promoting eco-friendly alternatives, such as hydrofluoroolefins (HFOs) are driving the market growth across the region. The region’s focus on sustainability and advancements in propellant technology also significantly impact market growth.
• Competitive Landscape: Some of the major market players in the aerosol propellants industry include Aeropres Corporation, AkzoNobel N.V., Arkema S.A., Aztec Aerosols Limited (Instarmac Group Plc), Emirates Gas LLC, Grillo-Werke Aktiengesellschaft, Harp International Ltd., Honeywell International Inc., Repsol S.A and Royal Dutch Shell PLC, among many others.
• Challenges and Opportunities: The market faces various challenges such as stringent environmental regulations, which push for the reduction of high-global-warming-potential propellants like hydrofluorocarbons (HFCs). However, the market also faces several opportunities including the development of eco-friendly propellants, such as hydrofluoroolefins (HFOs) and compressed gases, which align with sustainability goals.
   

Aerosol Propellants Market Trends:

Consumer Demand for Convenience Products

Aerosol propellants are crucial in delivering a wide range of consumer products, including personal care items (like hairsprays and deodorants), household cleaners, and food products. According to the aerosol propellants market insights, the convenience and ease of use provided by aerosol packaging drive consumer preference, boosting the demand for aerosol propellants. For instance, in June 2023, APS unveiled twistMist, a twist-activated, propellant-free, reusable aerosol technology that the company claims is the first of its kind on the market. TwistMist is a continuous dispensing technology that eliminates the need for pressurized tinplate, aluminum, or plastic cans and allows brands to switch to recyclable plastics (HDPE, PET), metal, or glass bottles.

Growth in Industrial and Automotive Applications

Aerosol propellants are also used in various industrial and automotive applications, such as lubricants, paints, and coatings. For instance, in November 2023, Kano Laboratories, the maker of the iconic Kroil brand of lubricating oils introduced an innovative, engineered design to its line of industrial-strength penetrants – Aerokroil with SprayTech. The new 13-ounce aerosol spray can is designed with an integrated straw and the ability to spray in any direction to quickly loosen frozen and rusted metal parts. The expansion of industries such as automotive manufacturing and construction contributes to the rising demand for aerosol products, which, in turn, is creating a positive aerosol propellants market outlook.

Regulatory and Environmental Trends

The market is influenced by regulations aimed at reducing the environmental impact of aerosol propellants. There is a significant shift toward using more eco-friendly propellants, such as hydrofluoroolefins (HFOs) and compressed gases, due to global efforts to phase out substances with high global warming potential, like chlorofluorocarbons (CFCs) and hydrofluorocarbons (HFCs). This regulatory shift impacts the market by driving innovation and the adoption of sustainable alternatives. For instance, GHG emissions decreased by 1% in 2023 against a 2022 baseline. This reduction is the net of increased emissions related to greater media and marketing spend, and increased HFC propellant emissions due to volume growth in the United States and Canadian aerosol products, according to Unilever. The corporation went on to say that, in most of its markets, it uses natural hydrocarbon propellant gases with a low global warming potential (GWP) – primarily in hairsprays, body sprays, and deodorant.

Aerosol Propellants Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type, product type, and application.

Breakup by Type:

• Compressed Gas
• Liquified Gas
   

The report has provided a detailed breakup and analysis of the market based on the types. This includes compressed gas and liquified gas.

Compressed gases, such as nitrogen and carbon dioxide, account for a significant portion of the aerosol propellants market due to their non-flammable and non-reactive properties. They are ideal for applications requiring a safe and stable propellant, such as in medical, food, and beverage industries, providing consistent performance and reducing safety risks, thus driving the aerosol propellants demand.

Liquefied gases, including propane and butane, dominate the market because of their efficiency and cost-effectiveness. They offer high-pressure performance and are commonly used in personal care, household products, and industrial applications. Their ability to be easily stored and transported in liquid form adds to their widespread use in aerosol products.

Breakup by Product Type:

• Hydrocarbons
• Fluorocarbons
• Nitrous Oxide and Carbon Dioxide
• DME and Ethyl Methyl Ether
• Others
   

Hydrocarbons holds the largest share of the industry

A detailed breakup and analysis of the market based on the product type have also been provided in the report. This includes hydrocarbons, fluorocarbons, nitrous oxide and carbon dioxide, DME and ethyl methyl ether, and others. According to the aerosol propellants market report, hydrocarbons accounted for the largest market share.

Hydrocarbons, such as propane, butane, and isobutane, dominate the market due to their effectiveness, cost-efficiency, and versatility. They provide high-pressure performance and are widely used in personal care products, household cleaners, and industrial applications. Their flammability, while a safety consideration, is manageable and controlled in properly designed aerosol systems. Additionally, hydrocarbons are readily available and affordable, contributing to their large share in the market.

Breakup by Application:

• Personal Care
• Household
• Medical
• Automotive
• Food and Beverage
• Others
   

Personal care represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the application. This includes personal care, household, medical, automotive, food and beverage, and others. According to the report, personal care represented the largest segment.

Personal care products account for the largest segment in the market due to their widespread use and demand for convenience and precision. The growing emphasis on personal grooming and hygiene, coupled with innovations in product formulations and packaging, drives high consumer preference and market growth in this sector. Aerosol propellants efficiently deliver products like deodorants, hairsprays, and body sprays, offering easy application and consistent performance.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Europe leads the market, accounting for the largest aerosol propellants market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe represents the largest regional market for aerosol propellants.

Stringent environmental regulations mandate the reduction of high-global-warming-potential substances like hydrofluorocarbons (HFCs), promoting the adoption of eco-friendly alternatives such as hydrofluoroolefins (HFOs) and compressed gases, thus driving the market growth across the region. Additionally, the increasing consumer demand for convenient and innovative aerosol products in personal care, household, and industrial sectors fuels market growth. The focus on sustainability and advancements in propellant technologies further support market expansion, aligning with Europe’s commitment to environmental protection and energy efficiency. For instance, in July 2024, Novasol Spray S.A., known for the Pintyplus brand, was acquired by European Aerosols, a leader in aerosol chemical solutions across Europe. This acquisition has been in progress for some time, according to the organization. Over the past year, outgoing CEO Ramón Ferrer and incoming CEO Jürg Vogelsang have been negotiating the terms of the handover, resulting in the incorporation of the esteemed Catalan company into the Dutch multinational group.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the aerosol propellants industry include Aeropres Corporation, AkzoNobel N.V., Arkema S.A., Aztec Aerosols Limited (Instarmac Group Plc), Emirates Gas LLC, Grillo-Werke Aktiengesellschaft, Harp International Ltd., Honeywell International Inc., Repsol S.A and Royal Dutch Shell PLC.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• The market is highly competitive, featuring key players such as The Dow Chemical Company, AkzoNobel N.V., and BASF SE, which drive innovation and sustainability. These companies compete on technological advancements, particularly in eco-friendly propellants like hydrofluoroolefins (HFOs) and compressed gases. Market players focus on expanding product portfolios, improving performance, and meeting stringent regulatory standards to capture market share. Strategic partnerships, mergers, and acquisitions also influence competitive dynamics, shaping industry growth and market presence. For instance, in August 2023, Honeywell and global contract development and manufacturing organization (CDMO) Recipharm announced a commercial partnership that will speed the development of pressurized metered dose inhalers (pMDIs) that use Honeywell's near-zero global warming potential (GWP) propellant. Honeywell Solstice® Air (HFO-1234ze(E) cGMP) is a hydrofluoroolefin (HFO) propellant in clinical development today for pMDIs that has 99.9% less global warming potential than HFAs.

Aerosol Propellants Market News:

• In February 2024, Salvalco announced its latest collaboration with Proctor & Gamble’s (P&G) personal care brand Native and its brand-new Girl Scout Cookies® range. Inspired by the popular Girl Scout Cookies® brand, the range includes an aerosol format deodorant & body spray as well as stick deodorant, body wash, shampoo, and conditioner lines in a variety of cookie-inspired scents including Coconut Caramel, Peanut Butter, Thin Mints, Trefoils, and Lemon.
• In July 2024, SUEZ Recycling and Recovery UK announced a two-year partnership with Alupro, the leading aluminum packaging recycling organization, as a key initiative to significantly enhance aerosol recycling rates across the UK.

Aerosol Propellants Market Report Scope:

Key Questions Answered in This Report:

• How has the global aerosol propellants market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global aerosol propellants market?
• What is the impact of each driver, restraint, and opportunity on the global aerosol propellants market?
• What are the key regional markets?
• Which countries represent the most attractive aerosol propellants market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the aerosol propellants market?
• What is the breakup of the market based on the product type?
• Which is the most attractive product type in the aerosol propellants market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the aerosol propellants market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global aerosol propellants market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the aerosol propellants market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global aerosol propellants market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the aerosol propellants industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.