The growing demand from the cosmetic industry is expected to drive the Aerosol Cans Market, states Fortune Business Insights, in a report, titled “Aerosol Cans Market Size, Share & Industry Analysis, By Material (Aluminum, Steel (Tinplate), Plastic, Others), By Type (Straight-wall, Necked-in, Shaped, Others), By Propellant (Compressed Gas, Liquified Gas), By Application (Personal Care & Cosmetics, Home Care, Medical, Paints & Pigments) and Regional Forecast, 2019-2028.” The increasing demand for household products is predicted to boost the growth of the market.
Market Driver:
Surging Demand for Hair Treatment Products to Augment Growth
The growing inclination towards cosmetics products among consumers is expected to enable speedy expansion of the market. Likewise, the growing demand for deodorants, hairsprays, and detergents is predicted to boost the growth of the market. The increasing application of aerosol sprays in pest control and air improvement mechanism is likely to foster healthy growth of the market. The proclivity for health and fitness among millennials is expected to create opportunities for the market in the forthcoming years. The rising product development by prominent companies is expected to aid the expansion of the market in the near future. Furthermore, the increasing partnerships and acquisitions among key players are expected to have a tremendous impact on the market. For instance, in March 2020, Ball Corporation announced the acquisition of Tubex Industria E Comercio de Embalagens Ltda, an aluminum aerosol packaging facility in Sao Paolo, Brazil for US$ 80 million. The plant includes eight extruded aluminum aerosol can manufacturing lines to cater to the customers in Brazil.
Nonetheless, the hazards associated with the disposal of aerosol cans are expected to limit the growth of the market in the forthcoming years. Moreover, the growing concerns about the toxicity and environmental hazard of aerosol can further dampen the growth of the market.
Browse Complete Summary of research Report: https://www.fortunebusinessinsights.com/aerosol-cans-market-102724
The Report Lists the Main Companies in the Aerosol Cans Market:
- Ball Corporation
- Crown Holdings, Inc.
- CCL Container
- Alltub Group
- Bharat Containers
- Tubex GmbH
- Tecnocap S.p.A.
- Guangdong Sihai Iron-Printing
Regional Analysis:
Rising Production of Painting and Coatings to Favor Growth in Europe
Europe is expected to lead the global market due to the flourishing cosmetic industry in the region. The growing demand for painting and coatings in automobiles is expected to foster growth in Europe. Asia Pacific is expected to experience significant growth owing to the increasing demand from China and India. The growing demand for healthcare and personal care products is predicted to facilitate the healthy growth of the market in the foreseeable future. North America is expected to account for a significant share in the global market owing to the rising demand for sustainable packaging products in the region. The Middle East and Africa are expected to grow due to the prospering food processing and cosmetics industry.
Key Development:
February 2020: Lindal Group, an aerosol dispensing solutions company announced the construction of its new production facility in Brazil with an investment of US$ 25 million.
December 2019: Salvalco Eco-Valve received a funding of US$ 3 million from Foresight and William Technology EIS to research green aerosol valve technology, Eco-Valve. The adoption of Eco-Valve in aerosol cans is expected to augment the growth of the market.
