Aerosol Propellants Market share is forecast to hit 13.73 million tons at an annual growth rate of 4.7% to forecast year, according to a new study based market report by DecResearch. The report features segment, region and application based analysis with insights on market trends, restraints, challenges, opportunities and drivers expected to impact the market size.
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A highly methodical quantitative as well as qualitative analysis of the global aerosol propellants market has been covered in the report. The study evaluates the numerous aspect of this industry by studying its historical and forecast data. Also provided in the research report are a porter’s five force model, in tandem with the swot analysis and pestel analysis of the aerosol propellants market.
Additionally, the report contains information about the anticipated CAGR of the global aerosol propellants market over the forecast period. Technological developments and innovations in humic acid will boost the global aerosol propellants market share during the forecast period.
The top four participants of aerosol propellants industry contributed to less than 40% of the global product demand. The existing players hold an upper hand in the industry as the entry of new market players is quite limited due to strict government regulation and high initial investments. Some of the prominent aerosol propellants industry players include Honeywell, DuPont, Harp International, AkzoNobel, Jiutai Energy, Lapolla Industries, Emirates Gas, National Gas Company, Covestro, and Arkema Group.
Aerosol propellants are also used in pre-wash sprays, cleaning agents, shoe polish, anti-static sprays, stain removers, disinfectants, and water repellents for leather & fabrics, all of which fall under household applications. Escalating use of these products for domestic purposes has augmented the growth rate of aerosol propellant industry from household applications, which is slated to exceed 4.5% over forecast period. A notable rise in overall consumption of personal care & household products in Asia Pacific, exhibits promising growth prospects for the regional aerosol propellants industry. China, India, and Japan are the leading countries which have contributed toward the regional growth. This can be credited primarily to the rising consumer interest in maintaining health & hygiene and a significant increase in consumer purchase parity. Asia Pacific aerosol propellants market is likely to witness a substantial growth rate of more than 5.5% over the forecast period.
The established automotive industry in Europe is one of the most promising growth drivers that has raised the bar of the regional aerosol propellants market. Increase in the production of automobiles has led to greater demand for automotive spray paints, lubricants, adhesives, and interior cleaners. UK, Germany, and France are the leading countries of Europe which have demonstrated sturdy growth prospects. As per estimates, Europe aerosol propellants industry is set to exceed 4.8 million tons by forecast period. Moreover, the consumer trend of paying the premium prices for eco-friendly products derived from biomass has been gaining considerable traction in the region. This has prompted an increase in the use of bio-DME products, which in turn has benefited the growth of the overall aerosol propellants market.
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The key topics covered in the report are:
- Categorization of the global market on the basis of application, region and competitive scenario
- Volume and revenue estimations for the market over anticipated period
- Market Dynamics and Insights with market strengths and weakness, opportunities and threats
- Current and future Regional Trends
- Company profiles, Positioning, business strategies of Key Players
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