The global aerosol valves market size surpassed USD 1.35 billion in 2019 and is expected to register a CAGR of 4.8% over the forecast period. The global aerosol valves market size is projected to reach USD 1.75 billion by 2027.
The major factors driving the growth of the market studied are increasing demand for aerosol valves from the paints & coatings and automotive industry as well as increasing awareness related to hygiene & personal care.
Key Market Trends
Personal Care Segment to Hold the Largest Market Share
Europe to Hold the Largest Market Share
The household segment is anticipated to witness significant expansion at a CAGR of 4.0%, in terms of revenue, on account of rising demand for aerosol products in this sector.
The product demand in the Europe automotive & industrial segment is expected to register a CAGR of 5.7% from 2019 to 2025. Rising automotive manufacturing owing to increasing disposable income levels, especially in the developing economies, and high replacement rate of petrol/diesel care with hybrid or of electric cars in the developed economies will boost the segment growth.
Europe accounted for 37.3% of the global revenue share in 2018 on account of the presence of a large number of aerosol manufacturers in the region.
Asia Pacific is anticipated to witness the fastest growth at a CAGR of 5.1% from 2019 to 2025 owing to the strong economic growth in countries like India and China. Government initiatives encouraging new investments in the market coupled with growing expenditure on personal care products is expected to drive the region’s growth over the forecast period.
Middle East & Africa is also expected to have significant growth on account of rapid expansion in the petrochemical production capacity in Saudi Arabia and UAE. Besides, the government support for the promotion of new investments is anticipated to boost demand for ethylene and propylene as propellants for the production of aerosol products, thereby complementing market growth.
North America is estimated to be the second-largest market, in terms of consumption, owing to rising product demand in personal care products. However, regulations restricting the use of CFC, HCFC, and HFC due to the adoption of the Montreal Protocol restricting GHG emissions, is expected to hamper the region’s growth over the forecast period.
The aluminum aerosol valve market is highly moderately fragmented with the presence of a few major players in the market as the market is price sensitive, the sustaining in the market is difficult.
The key players operating in the aerosol valves market includes Aptar Group (US), Precision Valve Corporation (US), Coster Tecnologie Speciali (Italy), LINDAL Group Holding (Germany), Mitani Valve (Japan), Summit Packaging Systems (UK), Clayton Corp. (US), Newman Green (US), KOH-I-NOOR Mladá Vožice a.s. (Czech Republic), SALVALCO (US), Majesty Packaging System Limited (China), Shanghai Sunhome Industrial Company (China), EC Packs Industrial Limited (Hong Kong), C. Ehrensperger AG. (Switzerland), Aroma Industries (India), Seung IL Corporation (South Korea), Yingbo Aerosol Valve (Zhongshan) Co., Ltd. (China), Guangzhou Zhongpin Aerosol Valves Co., Ltd (China)
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