The Aerosol Propellants Market was estimated at USD 7.26 Billion in the year 2015. The market is likely to increase during the forecast period, owing to the development and utilization of superior propellant formulations that offer improved product dispensing capabilities.
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Key Players:
E.I. DuPont de Nemours and
Company, BOC Industrial Gases, Harp International, Grillo-Werke GmbH,
ExxonMobil, Unigas Europe, Aerosol Gas Ltd., and Covestro AG are a couple of
the prominent players operating in the global market.
Growth Drivers:
The industry comprises numerous
manufacturers across the globe, who are focusing on the development of advanced
products to expand their business and hence enhance their presence as key
players and improve their global reach. The industry is likely to see
substantial growth over the years ahead, as a result of increased penetration
of aerosol cans in various application sectors including medical, automotive,
food processing and paints. Owing to the heavy demand of aerosol cans in health
and hygiene associated products like insect repellants and air fresheners, this
in turn is likely to increase the demand for propellants over the years ahead.
Additionally, rapid urbanization along with infrastructural developments in
countries like the UAE, India and China is expected to boost the consumption of
cans and thus propel the product demand.
The market is heavily dependent
on the availability of oil and gas products as raw materials such as natural
gas and petroleum. The price of the propellants is expected to increase due to
high volatility in the prices of natural gas and petroleum along with high
demand for petroleum fuels in the automotive sector.
Transportation of the product is
one of the key issues currently faced in the industry, owing to its highly
inflammable nature. One of the major product segments such as dimethyl ether is
usually transported by means of ISO containers which provide additional
convenience in terms of storage and also reduce secondary transportation cost
to a certain extent.
Product Insights
Methyl ether and dimethyl ether,
one of the key product segments are estimated to witness growth at a CAGR of 6%
during the forecast period, as these products exhibit low global warming
potential and no damage to the ozone layer. Due to the superior performance and
reduced costs of the product, the demand for DME based blends is likely to
increase the usage of can fillers thus enhancing the product consumption.
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