Aerosol Market Is Projected To Be Around $129.02 Billion By 2025
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A research study titled, “Aerosol Market by Application - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the Aerosol Market is projected to be around $129.02 billion by 2025.
The global aerosol market was worth USD 71.25 billion in the year of 2016 and is expected to reach approximately USD 129.02 billion by 2025, while registering itself at a compound annual growth rate (CAGR) of 6.82% during the forecast period. An aerosol is known to be a colloid of solid particles that are fine or liquid gas, present in air or another gas. Natural aerosols are geyser steam, fog and forest exudates. Artificial aerosols are smoke, dust, air pollutants and haze. Aerosols find applications in combustion technology, as treatment for respiratory diseases and dispersal of pesticides. Aerosol science comprise of creation and removal of aerosol, technological uses and its effects. Aerosols are utilized in insect sprays and household cleaning appliances on a large scale. It is also used in the food and beverage industry in products like beer, chocolate, vinegar, oil, soda and whipped cream. It is useful in products like stain removers, shoe polishes, and starch and water repellents for leather products. In the medical industry aerosols are extensively used for inhalers.
The global aerosols market is anticipated to witness significant growth owing to factors such as rising requirements in the automotive industry along with increased applications in household products and food and beverages. Increasing number of successful manufacturers of personal care products lead to high demand of aerosol that influences the growth of the market. Moreover, an enhancement in technology that leads to better production of aerosol is anticipated to be one of the major factors that boost the growth of this market. Additionally, favorable policies that are initiated with the aim of increasing investments in the automotive industry is said to boost the growth of this market.
On the basis of application the global aerosol market is segmented into Household, Insecticide, Medical, paints and Varnishes, Foods and beverages, Automotive and Industrial and Personal care. The major manufacturers in this market are Crabtree & Evelyn, Proctor and Gamble Co., Reckitt Benckiser (RB), S.C. Johnson, Henkel AG & Co and Unilever. Geographically the market is segmented into Europe, Asia Pacific, North America, and Rest of the World.
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Key findings of the aerosol market
- The major segment of application that emerged with a share of more than 31 percent of the global volume in 2015 was the household segment and is anticipated to witness significant growth due to growing consumption of bug sprays and air fresheners.
- The requirement of the product in the medical segment is anticipated to grow substantially due to convenient applications of products that are aerosol based.
- Leading companies like Procter & Gamble Co, Beiersdorf AG and Unilever depend upon launches of new products and modernization in designs as one of the major factors for increasing the share of the market.
- The aerosol market in the United States is expected to show significant growth due to increasing disposable income that make it convenient to buy products of high prices and increased implementation by the consumers.