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Aerosol Propellants Market Size (2024 - 2029)

The aerosol propellants market is projected to experience growth over the forecast period, driven by increasing demand in personal care, household, medical, and automotive sectors. Despite challenges posed by the COVID-19 pandemic, which caused fluctuations in crude oil prices affecting raw material costs, the market has shown recovery. The expansion is further supported by the rising use of aerosol propellants in the food and beverage industry. However, market growth may be impeded by stringent government regulations on aerosol usage. Opportunities are anticipated with the growing demand for eco-friendly propellants. The European region is expected to lead the market, benefiting from a significant increase in demand across various applications.

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Market Size of Aerosol Propellants Industry

Aerosol Propellants Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 10.41 Billion
Market Size (2029) USD 13.43 Billion
CAGR (2024 - 2029) > 5.00 %
Fastest Growing Market Europe
Largest Market Europe
Market Concentration Medium

Major Players

Aerosol Propellants Market Major Players

*Disclaimer: Major Players sorted in no particular order

Aerosol Propellants Market Analysis

The Aerosol Propellants Market size is estimated at USD 10.41 billion in 2024, and is expected to reach USD 13.43 billion by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).

The COVID-19 pandemic negatively affected the aerosol propellants market. The raw materials used to produce propellants are mainly obtained from crude oil. Due to the pandemic, the lockdown across the globe adversely affected the price of crude oil and caused a price fluctuation in the market. These factors affected the market for aerosol propellants. However, post-COVID-19 pandemic, the market registered significant growth due to rising demand for aerosol propellants in personal care, household, medical, and automotive industries.

  • The growing demand from the personal care industry and the increasing applications of aerosol propellants in the food and beverage industry are expected to drive the market.
  • Stringent government regulations on the use of aerosols are expected to hinder the market growth.
  • The rising demand for eco-friendly propellants is expected to create opportunities for the market during the forecast period.
  • The European region is expected to dominate the market. It is also expected to register the highest CAGR during the forecast period due to rising demand for aerosol propellants in personal care, household, and medical applications.

Aerosol Propellants Industry Segmentation

Aerosol propellant is a liquid or compressed gas used in whole or in part, such as a co-solvent, to expel a liquid or other material from the same self-pressurized container or separate container.

The aerosol propellants market is segmented by type, application, and geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). By type, the market is segmented into dimethyl ether (DME), hydrofluorocarbons (HFC), hydrofluoroolefins (HFO), and other types (nitrous oxide and carbon dioxide, etc.). By application, the market is segmented into personal care, household, medical, automotive, and other applications (paints and coatings, food and beverage, etc.). The report also covers the market sizes and forecasts for the aerosol propellants market in 22 countries across the major region. For each segment, the market sizing and forecasts have been done based on value (USD).

Type
Dimethyl Ether (DME)
Hyrdofluorocarbons (HFC)
Hydrofluoro Olefins (HFO)
Other Types (Nitrous Oxide, and Carbon Dioxide, etc.)
Application
Personal Care
Household
Medical
Automotive
Other Applications (Paints and Coatings, Food and Beverage, etc.)
Geography
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Indonesia
Thailand
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
Russia
Turkey
NORDIC Countries
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Aerosol Propellants Market Size Summary

The aerosol propellants market is poised for significant growth over the forecast period, driven by increasing demand across various industries such as personal care, household, medical, and automotive sectors. The market experienced a downturn due to the COVID-19 pandemic, which caused fluctuations in crude oil prices, a primary raw material for propellants. However, post-pandemic recovery has led to a resurgence in demand, particularly in the personal care industry, where aerosol propellants are integral to products like deodorants, hair care items, and body sprays. The Asia-Pacific region, with its burgeoning personal care market, is a key contributor to this demand, alongside North America, where the beauty and cosmetics sector remains robust. The European region is expected to dominate the market, benefiting from its strong manufacturing base in cosmetics and personal care products, as well as the food and beverage industry, which utilizes aerosol propellants for product dispensing.

Despite the positive growth trajectory, the market faces challenges from stringent government regulations on aerosol usage. However, the rising demand for eco-friendly propellants presents new opportunities for market expansion. The European region is anticipated to lead in market growth, supported by its large cosmetics and personal care industry and a thriving food and beverage sector. The presence of major market players such as The Chemours Company, Nouryon, Arkema, Shell PLC, and Honeywell International Inc. indicates a partially consolidated market structure, with ongoing developments among these companies shaping the competitive landscape. Overall, the aerosol propellants market is expected to experience steady growth, driven by diverse applications and regional demand dynamics.

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Aerosol Propellants Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand from the Personal Care Industry

      2. 1.1.2 Increasing Applications of Aerosol Propellants in the Food and Beverage Industry

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Stringent Government Regulations on the Use of Aerosol

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Type

      1. 2.1.1 Dimethyl Ether (DME)

      2. 2.1.2 Hyrdofluorocarbons (HFC)

      3. 2.1.3 Hydrofluoro Olefins (HFO)

      4. 2.1.4 Other Types (Nitrous Oxide, and Carbon Dioxide, etc.)

    2. 2.2 Application

      1. 2.2.1 Personal Care

      2. 2.2.2 Household

      3. 2.2.3 Medical

      4. 2.2.4 Automotive

      5. 2.2.5 Other Applications (Paints and Coatings, Food and Beverage, etc.)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Malaysia

        6. 2.3.1.6 Indonesia

        7. 2.3.1.7 Thailand

        8. 2.3.1.8 Vietnam

        9. 2.3.1.9 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Spain

        6. 2.3.3.6 Russia

        7. 2.3.3.7 Turkey

        8. 2.3.3.8 NORDIC Countries

        9. 2.3.3.9 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle East and Africa

Aerosol Propellants Market Size FAQs

The Aerosol Propellants Market size is expected to reach USD 10.41 billion in 2024 and grow at a CAGR of greater than 5% to reach USD 13.43 billion by 2029.

In 2024, the Aerosol Propellants Market size is expected to reach USD 10.41 billion.

Aerosol Propellants Market Report Snapshots

Aerosol Propellants Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)