SELBYVILLE, Del., July 1, 2021 (Newswire.com) - Based on a Global Market Insights Inc., report, the global Aerosol Propellants Market was estimated at $22,820 million in 2020 and is slated to exceed $34,740 million by 2027, registering a CAGR of 6.3% from 2021 to 2027 primarily owing to increasing product usage in inhalers for in-take of inhaling medications with improved drug delivery to patients. The report provides an analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.
DME & Methyl Ethyl Ether products should surpass USD 4005 million by 2027. Increasing demand for DME for its use in hair sprays owing to its ability to provide gentle dispersion of product from the container represents ample growth opportunities for the aerosol propellants market in the projected time period. Moreover, the hydrocarbons product segment should grow at a CAGR over 6% owing to its increasing use in topical pharmaceutical products for proper surface application.
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Dimethyl ether (DME) is a colorless gas with a characteristic odor, moderately water-soluble, and environmental-friendly owing to which it is widely used as aerosol propellants. DME should witness increased demand owing to its applications in various products including household products and personal care products. It is used as aerosol propellants and solvent both owing to rapid evaporation of DME which ensures fast drying and extends the shelf life of the finished product.
Food applications should surpass USD 2480 million by 2027. Increasing product usage in food packaging for handheld dispensing of food along with rising consumer adoption for spray food products should augment aerosol propellants market share. On the other hand, automotive & Industrial applications are likely to surpass USD 3720 million by 2027 owing to rising product demand for its use in spray paints used for automotive painting.
Increasing the use of carbon dioxide, nitrous oxide, and DME in food and cooking spray should boost product demand from food spray manufacturers. The product is used in food aerosol cans owing to its ability to covert the container content such as thick creams and food spreads into liquid or semi-liquids under the pressure of propellant. This makes easy dispensation of container content with desired texture such as foam, mist, liquid, and semi-liquid with desired amount and ease in handling.
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Europe should register over 5.5% gains by 2027 on account of increasing demand for personal care products such as deodorants, dry shampoos, and cosmetic spray-on products. The product is used in personal care products for effective and gentle dispersion of the can content on the desired surface. Moreover, the region has a presence of a large number of cosmetic and personal care manufacturers which should stimulate product demand thereby accelerating market growth.
The aerosol propellants industry share is competitive and includes manufacturers such as Arkema Group, Emirates Gas LLC, Aeropres Corporation, Royal Dutch Shell LLC, Lapola Industries Inc, Aveflor A.S. They are focusing on expanding their manufacturing capacities and strategic alliances, such as collaborations & joint ventures, partnerships, and acquisitions, to hold a market share in the industry.
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Source: Global Market Insights Inc.