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in the healthcare industry, the COVID-19 pandemic has had a considerable effect on the aerosol propellants business

NEW YORK CITY, NEW YORK , UNITED STATES, July 13, 2023/EINPresswire.com/ -- The aerosol propellants market is projected to experience substantial growth in the near future. In 2022, its global market size reached USD 10.4 billion, and it is anticipated to reach USD 16.42 billion by 2032, reflecting a revenue compound annual growth rate (CAGR) of 5.7% during the forecast period.

One of the primary drivers of this market expansion is the escalating demand for personal care and cosmetic products. Various personal care items such as deodorants, hair sprays, and shaving foams rely on aerosol propellants for their production. The personal care and beauty industries are expected to witness significant growth in the coming years, thereby fueling the demand for aerosol propellants.

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Aerosol Propellants Market Segments:

The aerosol propellants market witnessed a market size value of USD 10.4 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.7% during the forecast period from 2022 to 2032. The revenue forecast for 2032 is projected to reach USD 16.42 billion. These estimations are based on historical data from 2020 to 2021 and the market trends observed during this period.

The report encompasses a comprehensive analysis of the aerosol propellants market, including revenue forecasts, company rankings, competitive landscape, growth factors, and industry trends. The market is segmented by type outlook and application outlook to provide a detailed understanding of the market dynamics.

In terms of type outlook, the aerosol propellants market includes hydrocarbons, nitrogen, DME (Dimethyl Ether), and others. These propellant types cater to various applications and play a crucial role in the overall market growth.

The application outlook of the aerosol propellants market covers diverse sectors such as personal care, household, automotive, paints & coatings, and others. The increasing demand for personal care and cosmetic products is a significant driving factor for the growth of the market. Aerosol propellants are extensively used in the production of items like deodorants, hair sprays, and shaving foams, among others.

The regional scope of the market analysis includes North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. These regions offer significant market opportunities and contribute to the overall growth of the aerosol propellants industry.

In summary, the aerosol propellants market is expected to witness substantial growth in the coming years. Factors such as increasing demand for personal care products, a wide range of applications, and expanding market opportunities across different regions are driving the growth of this industry.

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Aerosol Propellants Market Strategic Developments:

In 2021, BASF SE entered into an agreement with SABIC to acquire a significant portion of SABIC's global Polycarbonate production capacities. This strategic move was aimed at expanding BASF's position in the polycarbonate market and strengthening its presence in the aerosol propellants market.
In 2020, Honeywell International Inc. announced its collaboration with the U.S. Army to develop a new, high-performance, and environmentally friendly propellant for aerosol spray applications. This strategic move was aimed at enhancing Honeywell's product portfolio and sustainability initiatives.
In 2019, Clariant AG entered into a joint venture with Tiangang Auxiliary Co., Ltd. to produce and sell high-quality light stabilizers and process stabilizers in China. This strategic move was aimed at expanding Clariant's presence in the aerosol propellants market in China and the Asia-Pacific region.
Aerosol Propellants Market Competitive landscape:

The global aerosol propellants market is characterized by the presence of a few key players who play a dominant role in the industry. These major companies continuously focus on innovation and expansion of their product portfolios through various strategies such as strategic partnerships, mergers and acquisitions, and the introduction of new products.

DuPont de Nemours, Inc. is one of the prominent players in the aerosol propellants market. The company has a strong presence and is known for its commitment to research and development, enabling them to offer a wide range of innovative aerosol propellants.

Arkema Group is another significant player in the market. They are recognized for their expertise in specialty chemicals and materials. Through continuous investments in research and development, Arkema Group has been able to develop advanced aerosol propellants that meet the evolving needs of the industry.

Akzo Nobel N.V., a leading multinational company, is also a key player in the aerosol propellants market. They have a diversified product portfolio that includes various types of aerosol propellants. Akzo Nobel N.V. focuses on delivering high-quality products and actively engages in strategic collaborations to expand its market presence.

Honeywell International Inc. is a well-established player known for its comprehensive range of aerosol propellants. They are committed to sustainability and have been investing in eco-friendly propellants that align with the industry's growing emphasis on environmental responsibility.

BASF SE is a prominent global chemical company that offers a wide range of products, including aerosol propellants. They prioritize innovation and sustainability, constantly working towards developing advanced propellants that cater to the diverse needs of the market.

These major players not only contribute to the growth and development of the aerosol propellants market but also drive the industry forward through their continuous efforts in research, development, and strategic initiatives.

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