Aerosol Propellant Market Share

Segmentation Analysis:

The market for aerosol propellant can be segmented by product type and application.

Personal Care

The personal care segment accounted for the largest market share in 2020, owing to the increasing demand for personal care products, such as deodorants, hairsprays, and shaving creams, among others. The rising disposable income, coupled with the growing preference for grooming and personal hygiene, is anticipated to drive the demand for aerosol propellants in the personal care segment.

In the personal care sub-segment of deodorants, the market is witnessing a shift towards the adoption of eco-friendly propellants, due to the growing awareness about the environmental impact of traditional propellants, such as hydrocarbons. Companies are increasingly focusing on developing and launching deodorant products that are propelled by environmentally friendly gases, such as compressed air and nitrogen. For instance, Unilever, a leading player in the personal care segment, has introduced a range of deodorants using compressed air as the propellant, which is free from volatile organic compounds (VOCs).

Healthcare

Within the healthcare segment, the demand for aerosol propellants is driven by the increasing use of medical aerosols for the treatment of respiratory disorders, such as asthma and chronic obstructive pulmonary disease (COPD). The medical aerosols are propelled by propellants, such as hydrofluoroalkanes (HFA) and hydrochlorofluorocarbons (HCFC), which are known for their high stability and compatibility with pharmaceutical formulations.

The healthcare sub-segment of asthma inhalers is witnessing significant advancements in propellant technology, with the development of dry powder inhalers (DPIs), which eliminate the need for propellants altogether. These DPIs are gaining traction among healthcare professionals and patients, due to their convenience, ease of use, and reduced environmental impact. Companies, such as GlaxoSmithKline and AstraZeneca, are investing in research and development activities to enhance the effectiveness of DPIs for managing respiratory disorders.

Competitive Landscape:

The aerosol propellant market is highly competitive, with a significant number of players operating globally. Some of the key players in the market include:

1. The BOC Group

2. AkzoNobel N.V.

3. Honeywell International Inc.

4. Royal Dutch Shell PLC

5. Aeropres Corporation

These players are focusing on strategic initiatives, such as product launch, partnerships, and mergers and acquisitions, to strengthen their market presence and expand their product portfolio. For instance, in January 2021, Honeywell International Inc. announced the launch of a new, low-global-warming potential (GWP) aerosol propellant, called Solstice Propellant, which is designed to replace hydrofluorocarbon (HFC) propellants in a wide range of aerosol applications.

Additionally, the market players are increasingly investing in research and development activities to innovate new propellant formulations and technologies. For instance, AkzoNobel N.V. has been focusing on developing propellant blends with eco-friendly properties, in response to the growing consumer demand for sustainable aerosol products.

In conclusion, the aerosol propellant market is witnessing significant growth, driven by the increasing demand for personal care and healthcare products. The market players are focused on developing eco-friendly propellant solutions to address the growing concerns about environmental impact, while also investing in technological advancements to enhance the performance and safety of aerosol products.