Market Research Future (MRFR) expects the aerosol can market 2020 to touch a valuation of USD 7,644.6 million by 2025-end. The market is also projected to attain a CAGR of 4.27% during the review period (2019 to 2025).
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Primary Drivers and Top Challenges
A noteworthy growth booster in the aerosol can market includes the surge in the modern retail formats. The upward trajectory of the modern retail has prompted the FMCG companies to concentrate more on the packaging format, in an attempt to expand their customer reach within the restricted shelf space. Another equally important factor that induces market growth is the easy portability of aerosol cans give their light weight, easy to hold and unbreakable properties during the transport.
The recyclable nature of aerosol cans also add to its appeal among end-users and consumers in the market. The rapidly increasing demand for aluminum aerosol cans is touted to be a prevalent trend among manufacturers in the aerosol cans market during the estimation period.
With the surging disposable income of people across the emerging regions and the subsequent increase in their purchasing power has also led to substantial market growth. More and more companies are now compelled to indulge in activities like research and development along with technological advancements to achieve a better position in the aerosol cans market.
Market Segmentation
The market for aerosol cans has been exhaustively researched and the primary segments listed in the report are material, product type, propellant type and application.
The different types of materials based on which the aerosol can market has been segmented include plastic, steel, aluminum, and others. Between these, the aluminum segment leads the market, thanks to the material’s rising use in the personal care industry.
The product types enlisted in the report are necked-in, shaped and straight wall. The largest share in the market belongs to the straight-wall segment because of the rapidly mounting demand generated in the beauty and personal care sector.
Various propellant types are liquefied gas propellant as well as compressed gas propellant, with liquefied gas propellant recognized as the top segment in the market.
The primary applications of aerosol cans are industrial, personal care, automotive, pharmaceutical, and more. Personal care industry has forged ahead of other application-based segments in the aerosol can market, thanks to the increasing focus on personal hygiene as well as beautification. The application areas of aerosol cans in the industry include foams & gels, hair care, deodorants & antiperspirants, skin care products and gel toothpaste.
Regional Outlook
The primary markets for aerosol can are Europe, North America, Asia Pacific (APAC), and the Rest of the world (RoW).
North America is universally considered to be the cornerstone for advancements and innovation in hygiene, beauty and personal care products, which gives it the edge in the global market. The regional market has progressed impressively on the back of factors like the rapid developments, with respect to packaging and design of aerosol cans. Also, the presence of a highly developed country like the United States (US) and the steadily growing application areas of aerosol cans in automotive, healthcare and personal care industries can lead the regional market to greater heights in the forthcoming period.
Europe, with the second lead in the global market, can potentially maintain its position throughout the evaluation period. High disposable income paired with the rising spending on the manufacturing of sustainable and recyclable aerosol cans are the top identified growth boosters in the market. There is a strong possibility of the United Kingdom (U.K.) emerging as the leading manufacturer of aerosol cans, trailed by Germany on account of the accelerated demand for personal care and home products.
The APAC market for aerosol cans can exhibit moderate growth in the coming years, but still holds a lot of potential owing to the presence of developing countries like India and China and the rising number of consumers in these countries.
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Top Market Participants
The top market participants profiled in the MRFR report are Al-Can Exports Pvt Ltd. (India), CPMC Holdings Ltd (China), Kian Joo Can Factory Berhad (Malaysia), Toyo Seikan Group Holdings, Ltd (Japan), Ardagh Group (Luxembourg), Ball Corporation (US), Crown Holdings Incorporated (US), Shanghai Sunhome Industrial Company (China), CCL Industries (Canada), Exal Corporation (US), to mention a few.
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