LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global aerosol propellants market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The aerosol propellants are widely used by aerosol spray manufacturers across the world to provide customers with the desired product. The global aerosol propellants market has significant growth opportunities during the forecast period. The is growing due to the increased consumption of aerosols in the personal care segment. The strategic adoption of personal care products by manufacturers to launch gender specific products contribute more toward the growth of the market.
Ajay Adhikari, a lead analyst from Technavio, specializing in research on specialty chemicals sector, says, “The increased extraction of natural gas and crude oil around the world, especially in new areas, also drives the market for aerosol propellants by providing a regular supply of raw materials. The market in APAC is expected to witness the highest growth and holds the highest share after Europe.”
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The top three emerging trends driving the global aerosol propellants market according to Technavio research analysts are:
- Increase in production of low cost and low GWP aerosol propellants
- Rising popularity of aerosols in food industry
- Health and environmental concerns leading to stringent rules and regulations
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Increase in production of low cost and low GWP aerosol propellants
The global aerosol propellants market has experienced a lot of changes over time. Spray can propellants that deplete the ozone layer are long gone, and new alternatives have filled the demand supply gap as the years passed by. In the current scenario, after banning harmful variants of CFCs from applications in all areas, including aerosols, the ozone layer is recovering slowly.
“Using technological advances and investing in R&D, many organizations have developed products that are less harmful to the environment, thereby reducing their potential for global warming. For instance, Honeywell International has developed a Solistice propellant that has minimal environmental impacts,” according to Ajay.
Rising popularity of aerosols in food industry
Aerosols are increasingly becoming popular in the food industry, owing to their convenience of use and waste reduction. They are used by food grade packaging material manufacturers to provide consumers with food grade aerosol sprays. Propellant gases, such as carbon dioxide and nitrous oxide, are used in whipped creams.
Experts in the market say that efficiency and practicality are the main factors leading to the rise of aerosol food products. Aerosol packaged food products also ensure quality, without exposing the food to light and air, thus making it free of contaminants. They also help in waste reduction as consumers will be able to use the precise amount according to their requirements.
Health and environmental concerns leading to stringent rules and regulations
There are various health and environmental concerns associated with the use of aerosol propellants. The use of CFCs was extensive at one point of time. However, its unchecked use led to significant levels of ozone depletion, which is considered as a high-level environmental breach. After years of banning the product from use with respect to the Montreal Protocol, the ozone layer is showing signs of recovery.
Regulatory bodies and governments worldwide are cautious about the use of propellant gases and have released properly set guidelines and regulations regarding their use. This increases the cost of production, thus affecting the players in the market. Also, regulations pertaining to the use of aerosols and aerosol containers affect the market.
The key vendors are as follows:
- Akzo Nobel
- Honeywell International
- National Gas
- Royal Dutch Shell
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