Aerosol cans containing compressed gas is highly dangerous in nature, therefore, its combination with propellant helps in controlling the pressure and emits the high-pressure vessels requirement.
Aerosol propellants have wide application in the field of medicine, food & beverages, cosmetics, automotive and paint industries. Chlorofluorocarbons were the most widely used propellants but impact the ozone layer.
Volatile hydrocarbons have been used as harmful propellants replacement as they are considered to be less harmful, however, they show flammable characteristics. The food industry makes use of nitrous oxide whereas medicinal products utilize hydro fluoroalkanes.
The global Aerosol Propellants Market size is projected to reach USD 11 billion by 2024. The development of high-quality propellant formulations with enhanced product dispensing capacities can drive this industry during the forecast period (2016-2024). In addition, widespread adoption of various aerosol-based personal care and household products could also positively influence the market. This trend is mainly observed in developing countries, like India, Thailand, etc. Moreover, rising technological developments resulting in the production of superior propellant combinations may stimulate market demand.
Growth of the Aerosol Propellants Market depends greatly on the availability of raw materials, such as crude oil and natural gas. Moreover, cost of the product depends on the prices of crude oil and natural gas. High production of natural gas in Asia-Pacific and North America could boost the demand for aerosol propellants in the years to come. Additionally, greater technological initiatives resulting in the production of high-quality cans that are aesthetically appealing may augment the demand for these cans. This in turn can propel the global market.