Category: P&S Intelligence

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Graphene Market Market Forecast Market growth Market Size P&S Intelligence

How is Increasing Research & Development Activities in Medical Industry Driving Graphene Market?

The medical industry is always focusing on research & development activities in order to develop enhanced products, devices, and technologies that can help patients in an effective manner. There are still an extensive number of diseases for which no proper treatment or cure is available, most common of them is cancer. Attributed to this, the demand for graphene in the healthcare industry is growing rapidly. The material is utilized to manufacture bioelectric sensors, which track hemoglobin, cholesterol, and glucose levels, on account of its high strength and thinness. It is also utilized in dental implants, therapeutic tools, prosthetic devices, and for treatment of cancer.

Graphene is the building block of graphite, and has one-atom-thick layer of carbon atoms that are arranged in a hexagonal lattice. At one atom thickness, it is the thinnest material that is known to man and is strong as well. In addition to this, graphene is also an excellent conductor of electricity and heat and has light absorption abilities. Because of these factors, the global graphene market is predicted to reach a value of $646.8 million by 2030, rising from $87.5 million in 2019, progressing at a 20.2% CAGR during the forecast period (2020–2030).

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Dispersion and powder are two forms in which graphene is available. Between these two, the demand for graphene in the form of powder was higher in the past, as this form is preferred for printing technologies, batteries and sensors. In addition to this, graphene is easier to manage and handle in powder form as compared to flakes and dispersion. Other than biomedical, graphene also finds applications in composites, electrical & electronics, and energy sectors. The largest demand for graphene was created for electrical & electronics applications in the past and the situation is expected to remain the same in the years to come as well.

Graphene is used widely for manufacturing flexible displays, touch screen coatings, and precise sensors, which can be ascribed to its excellent mechanical strength and electrical conductivity. Other than this, the demand for graphene is also projected to increase significantly for composite applications in the near future. This is because the material is widely being adopted for metal and polymer composites, which, in turn, is because of its favorable properties. In addition to this, graphene composites are predicted to be widely adopted in the production of renewables, engineering materials for aerospace, and medical devices because of increasing research & development projects in the domain.

Geographically, Asia-Pacific has been the largest graphene market up till now, which is primarily due to the high consumption of this materials in energy, medical, and electrical & electronics sectors in China. Furthermore, the applications of graphene is also increasing in aerospace and automotive industries in South Korea, China, and India. Other than this, the demand for graphene is also expected to increase in North America in the coming years, on account of increasing utilization of this material in composites. In conclusion, the demand for graphene is growing due to its increasing utilization in the manufacturing of medical devices and as composites.

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Chemicals and Materials Market Market Forecast Market growth Market Size P&S Intelligence Specialty Chemicals Market

How is the Growing Middle-Class Population Driving Specialty Chemicals Market?

The middle-class population in developing countries including Brazil, China, and India has grown significantly in the past few years. In addition to this, the disposable income of people has also increased, which is why the requirement for electronics, food, textile, cosmetics, agriculture, and several other products is growing. This has further resulted in the rising need for raw materials. In 2014, the government of India launched ‘Make in India’ initiative, which has enhanced the competitiveness of the chemical sector in the country. The initiative permitted 100% foreign direct investment and de-licensing the manufacturing of most chemicals. These factors are resulting in the growing demand for specialty chemicals.

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Specialty chemicals are utilized as raw materials for enhancing the quality of products in several industries. As per a P&S Intelligent, in 2017, the global specialty chemicals market reached a value of $582.3 billion and is expected to generate a revenue of $782.2 billion by 2023, advancing at a 5.1% CAGR during the forecast period (2018–2023). When geographic scenario is taken into consideration, Asia-Pacific (APAC) created the largest demand for specialty chemicals in the past and is further expected to make the most use of these chemicals during the forecast period. This is because of the rising requirement for specialty chemicals from end use industries.

In addition to this, the increasing requirement from the construction sector, which is ascribed to the growing demand for commercial and residential buildings and surging urban population, is also resulting in the growth of the specialty chemicals market. In APAC, China is projected to create the largest demand for specialty chemicals during the forecast period. Apart from this, several companies in the domain are shifting their production base to APAC, which is ascribed to the strict environmental norms in North America, Europe, and other regions, reducing profit margins, expensive labor cost, and the fact that APAC is a hub of chemical manufacturing units.

Different types of specialty chemicals are lubricant & oilfield chemicals, adhesives & sealants, paper & textile chemicals, plastic additives, cleaning chemicals, electronic chemicals, polymer additives, food additives, surfactants, specialty coatings, construction chemicals, and agrochemicals. Among all these, the largest demand in 2017 was created for agrochemicals and the situation is projected to remain the same in the coming years as well. The reason for this is the rising consumption of food across the globe on account of the surging population and the growing need for crop protection to meet the rising requirement for food products.

The demand for specialty chemicals is also rising because these chemicals play a vital role in the development of eco-friendly and biodegradable products. Green chemicals such as 1-heptacosanol, 1-Arabinose, 1-nanocosanol, and various others are being developed for reducing the harmful effects of chemicals on the environment. These chemicals are utilized in different applications such as the production of fabrics that need less water to wash, paints which have low volatile organic compounds, and chemical additives which aid in improving the physical properties of products. This is further expected to open up opportunities for players operating in the domain.

Hence, the market is being driven by the utilization of specialty chemicals for the development of biodegradable and eco-friendly products and the growing middle-class population.

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Automotive Adhesives and Sealants Market Market Forecast Market growth Market Size P&S Intelligence

Why Automotive Adhesives and Sealants Market Prosperity Reflects Focus on Lightweight Vehicles?

Ambient (outdoor) air pollution kills around 4.2 million people every year, reports the World Health Organization (WHO), and road transport has to take considerable blame. Daily, thousands of tons of nitrogen oxides, sulfur dioxide, carbon monoxide, and other harmful gases are emitted from vehicles. Concerned at this, governments of various countries have implemented strict guidelines, such as the Euro VI standards implemented in European Union countries and the Bharat Stage VI emission norms implemented in India, to keep a check on the emission of these gases from automobiles.

One of the best ways to reduce vehicular emission is cutting the weight of the automobiles, which is where adhesives and sealants come in. Thus, with the increasing consciousness on air pollution, the automotive adhesives and sealants market is expected to grow in value from $8,413.7 million in 2017 to $11,871.6 million by 2023, at a CAGR of 6.0% during 2018–2023 (forecast period). These materials are widely used in bonding purposes in the automotive sector, and with the rising focus on lightweight vehicles, their consumption is growing.

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By decreasing the weight of the automobile, the requirement for propulsion power is reduced. This way, the load on the engine is decreased, which brings down the consumption of fuel and, in turn, the release of toxic substances into the environment. Additionally, with a reduction in fuel consumption, the vehicle has to refill its tanks after longer periods, which further checks the overexploitation of crude oil sources. To reduce the vehicle weight, a lot of the iron and steel components are being replaced by lighter materials, such as aluminum and even carbon fiber.

Due to this, automakers face slight challenges, as keeping these components together via nuts and bolts is not a feasible solution, which is why adhesives and sealants are now being used for the purpose. Apart from their utility in bonding purposes, these materials are also known to make automobiles safer, offer better driving comfort, and improve their performance. With the engine having to propel a lighter load, the machine can push the vehicle at higher speeds, which is one of the first things people consider when buying a vehicle today, how fast it is.

Several types of sealants and adhesives, including acrylics, epoxy, rubber, polyurethanes, silicones, polyvinylchloride (PVC), and hot melts, are used by automotive companies. Among these, epoxy variants account for the heaviest consumption, as they are supposed to better improve automobiles’ structural integrity. With a strong consumer preference for a comfortable drive or ride, the usage of silicone adhesives and sealants is expected to increase the fastest in the near future. This is because they help keep vibrations to the minimum and also protect vehicle joints against heat.

Currently, Asia-Pacific (APAC) is the most productive automotive adhesives and sealants market, owing to the high vehicle manufacturing capacity of regional nations, particularly, China, Japan, South Korea, and India. For instance, compare to 4,782,896 in 2017, 5174645 vehicles were manufactured in India in 2018, which was a growth of 8.0% YoY, as per Organisation Internationale des Constructeurs d’Automobiles (OICA). Apart from domestic firms, even those based in Europe and North America are setting up production plants in APAC, because of the availability of low-cost labor and raw materials.

Therefore, with the increase in vehicle production, which is now subject to concerns over the degrading air quality, the demand for sealants and adhesives is going up, as they are essential to reduce the weight of automobiles.

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Industry Share Market growth Market Size P&S Intelligence Packaging Adhesives Market

How is Growing Demand for Packaged Food Driving Packaging Adhesives Market?

In the past few days, the demand for packaged food has increased significantly, owing to the novel coronavirus. People across the world are stocking up on packaged food as there is no certainty regarding how long and how strictly the lockdown will have to be imposed. In such times, food that can last for days is in high demand. Apart from this factor, the demand for packaged food has risen significantly in the past few years because of the rising disposable income of people, particularly in emerging economies, and changing lifestyle across the globe.

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This growing need for packaged food is driving the need for packaging adhesives as well. Packaging adhesives are necessary in the food industry for maintaining the quality of food and keeping it fresh. As per the P&S Intelligence, in 2019, the global packaging adhesives market reached a value of $10,426.9 million and is expected to generate a revenue of $17,137.4 million by 2030, progressing at a 4.6% CAGR during the forecast period (2020–2030). There are three types of packaging adhesives in terms of formulation, namely solid-based, water-based, and solvent-based. Since water-based adhesives are eco-friendly and do not contain any harmful volatile organic compounds, their demand was the highest in 2019.

These packaging adhesives are made up of different types of resins including polyvinyl acetate, polyamide, polyurethane, ethyl vinyl acetate, rubber, and acrylic. Among all these, acrylic resin type was used the most in the past because of their high chemical resistance and high-temperature resistance properties. In addition to this, acrylic-based adhesives provide instant adhesion, thereby facilitating efficiency in the production process. Because these adhesives are moisture resistance, they are ideal for applications in cold storage food & beverage packaging. The growing usage of these adhesives are projected to contribute to the growth of the packaging adhesives market.

Different types of products have different kinds of packaging needs, which is why packaging adhesives are used in various kinds of packaging types including flexible packaging, rigid packaging, and tapes & labels. Flexible packaging is projected to register rising demand in the coming years, owing to the rising utilization of films and papers for the packaging of fast-moving consumer goods, such as powdered detergents, soaps, and chips. In addition to this, the demand for rigid packaging is also predicted to be grow during the forecast period on account of the expanding consumer electronics industry.

Geographically, Far East is expected to make the most use of packaging adhesives in the near future, which is ascribed to the growth of the e-commerce industry in Japan, South Korea, and China and expanding consumer goods manufacturing industry. The e-commerce industry is registering growth because of the rising shopping activities and growing per capita income in developing countries. Packaging adhesives are utilized extensively in the e-commerce industry for labelling applications, which is utilized in product tracing and proper taping of goods that are to be delivered.

In conclusion, the demand for packaging adhesives is growing due to the expansion of food & beverage, consumer electronics, and e-commerce industry.

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Market Forecast Market growth Market Size Net Zero Energy Buildings Market NZEBs Market P&S Intelligence Waterproofing Chemicals Market

How is Expanding Infrastructure Industry Driving Waterproofing Chemicals Market?

The infrastructure industry has been expanding rapidly, and one of the primary reasons for this is the growing investments. The industry is getting funding from the Asian Development Bank and The World Bank. Furthermore, the regulatory authorities and governments are focusing on defining set quality standards for the industry. The emerging economies, such as Brazil, China, and India, especially, are witnessing a swift growth in the infrastructure projects. Whereas before, the durability of the material was not considered seriously in developing countries, the governments now are trying to create awareness among contractors regarding the usage of quality chemical products for durable structures. All these factors are, in turn, driving the demand for waterproofing chemicals.

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Waterproofing chemicals are chemical products that are utilized for protecting the structural integrity of buildings from water seepages, as it can result in metal, electrical, and health hazards, further leading to shortened life-span of the building. As per a study conducted by P&S Intelligence, in 2015, the global waterproofing chemicals market generated a revenue of $3,652.5 million and is projected to advance at a 6.6% CAGR in the coming years. The types of waterproofing chemicals are polymer, bitumen, and others (which include epoxies, polymer rubber gel systems, and polyurethane). Among these, the largest demand was created for the bitumen category during 2012–2015. Bitumen is most commonly utilized for waterproofing, as theproducts based on this chemical are flexible, economical, and have good crack bridging capacity. These chemicals are further divided into atactic polypropylene (APP), styrene-butadiene-styrene (SBS), and others (which include styrene-ethylene-butylene-styrene and chlorosulfonated polyethylene). The largest demand during 2012–2015 was created for the SBS division.

The various applications of waterproofing chemicals are walls, landfills and tunnels, roofing, building structures, and others (which include cosmetics, clothing products, paper packaging, and plastic industry). Out of these, the largest demand for waterproofing chemicals was created for the roofing application during 2012–2015 and the situation is going to be the same in the near future as well. The most critical part of any building is the roof, as it is exposed to continuous changes in the weather conditions, such as rainfall and heat. Due to this, it is important that the roof is designed in such a way which ensures maximum protection. In the coming years, the fastest growth in demand for waterproofing chemicals is predicted to be witnessed by the building structures application.

The government initiatives and favorable regulatory environment are among the key factors contributing to the growth of the waterproofing chemicals market. In the past, the lack of government policies was a major factor hindering the adoption of waterproofing chemicals. However now, the governments are focusing on policies such as “Zero Effect and Zero Defect” for establishing their construction and manufacturing market. The regulatory authorities are setting up strict guidelines, which emphasize upon the development of green and energy-efficient buildings due to the surging pollution level. These regulatory initiatives are expected to increase the adoption of waterproofing chemicals in the near future.

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Anti-Counterfeit Packaging Market Market Forecast Market growth Market Size P&S Intelligence

What are Key Factors Boosting Global Anti-Counterfeit Packaging Market?

The demand for anti-counterfeit packaging is expected to boom in the coming years, mainly owing to the rise in the losses incurred by product manufacturers in various countries, on account of the steep surge in the sale of counterfeit products. According to the latest estimates published together by the Intellectual Property Office of the European Union and Organisation for Economic Cooperation and Development (OECD) in 2019, the sale of counterfeit goods make up for around 3.3% of the worldwide trade activities. The pharmaceuticals industry, in particular, is severely impacted by counterfeiting, which is why it is predicted to register a significant usage of this type of packaging.

Another major factor propelling the rise in the demand for anti-counterfeit packaging is the wide-scale adoption of these technologies by manufactures in order to protect their brands from the image-tarnishing effects of spurious products. Due to these reasons, the global anti-counterfeit packaging market is expected to flourish at a CAGR of 10.9% during the forecast period (2018­–2023), to generate more than $208.3 billion in revenue by 2023, which would be a huge jump from its value of $114.4 billion in 2017.

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Anti-counterfeit packaging is produced to work on numerous technologies, namely forensic, covert, overt, and track and trace. Amongst these, the track- and-trace-technology-equipped anti-counterfeit packaging observed the largest sales in 2017. This is attributed to the fact that this technology allows the manufacturers to easily track and trace their products and shipments and avoid theft, piracy, and technological impediments during deliveries. It is because of the importance of these processes that the demand for packaging empowered by this technology would continue to be the highest in the coming years.

Anti-counterfeit packaging is being widely adopted in a wide array of industries, such as food and beverage, pharmaceutical and healthcare, and clothing and apparel. Out of these, the pharmaceutical and healthcare industry, due to the increasing need for genuine and reliable products, in order to reduce health risks from fake drugs, is predicted to witness the fastest growth in demand for anti-counterfeit packaging. Moreover, the production of pharmaceutical drugs is expected to increase significantly in the coming years, especially due to the rise in the geriatric population and various health problems, which will further catapult the demand for such technology.

The biggest rage currently being observed in the anti-counterfeit packing market is the swift rise in the strict product safety regulations and measures, in order to eliminate fake products from the market. The governments of various countries are rapidly enacting stringent laws and regulations, such as those mandating the implementation of safety tags for certified products and imposition of heavy fines and punishment on defaulters, to monitor and track counterfeiting activities and then destroy the spurious products that are being circulated in the market.

Geographically, the adoption of anti-counterfeit packaging was the highest in North America in 2017, and this trend is expected to continue during the forecast period. This is mainly attributed to the increasing adoption of anti-counterfeit packaging by the food and beverage, pharmaceuticals, and consumer goods manufacturing companies in the region. The U.S. is predicted to register the higher sales in the region during the forecast period. Asia-Pacific (APAC) is expected to record the fastest growth in demand for anti-counterfeit packaging in the forthcoming future, due to the rising consumption of packaged food.

Therefore, with people creating fake products for some easy money, the actual manufacturers of such stuff would adopt anti-counterfeit packaging to secure their image and keep people from harm.

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Electroceramics Market Industry Share Market Forecast Market growth Market Size P&S Intelligence

How is Growth of Semiconductors and Electronics Industry Driving Electroceramics Market?

The semiconductors and electronics industry plays a significant part in technological advancements, which is why the industry is expanding rapidly. For example, as per Fortune Business Insights, the semiconductor market is projected to reach a value of $730.29 billion by 2026, owing to the rising utilization of consumer electronic devices. The manufacturing of different semiconductors and electronic devices needs suitable materials so as not to pose any problems when they are being used. Electroceramics materials are equipped with various properties that make them suitable for usage in the semiconductor and electronics industry. Moreover, with the expansion of this industry, the demand for electroceramics is rising as well.  

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Ceramic materials that have the ability to perform an electronic function for a specific application area referred to as electroceramics. These materials are utilized in the manufacturing of semiconductors and electronics devices, such as sensors, actuators, capacitors, power distributions devices, and data storage devices, owing to their technological feasibility, ability to maintain economic viability and optimize size and space constraints in the final products. According to a P&S Intelligence, in 2017, the global electroceramics market reached a value of $8,590.9 million and is expected to generate a revenue of $12,084.4 million in 2023, advancing at a CAGR of 5.9% during the forecast period (2018–2023).

There are several types of electroceramics, some major types are magnetic ceramics, dielectric ceramics, piezoelectric ceramics, and conductive ceramics. Dielectric ceramics are utilized the most for the manufacturing of capacitors and insulators that are major components in industrial and consumer devices. All these electroceramics are manufactured using different materials including alumina, titanate, and zirconate. As alumina-based electroceramics are harder, have better thermal conductivity, substantial wear and tear resistance, and high electrical insulation at high temperature ranges than other electroceramics, the demand for these ceramics is expected to be the highest in the coming years.

The demand for these different types of electroceramics is further projected to grow during the forecast period because of the global transition toward high-volume and high-speed data transfer. In the past few years, the requirement for electronic devices and components has risen because of growing data creation and application, enhancing network infrastructure, and digitalization across various countries. As an integral part of telecommunication devices, electroceramics have the ability to handle this growing demand for catering to the need for high-speed and high-volume requirements without compromising the technological feasibility of a telecommunication network.

The requirement for electroceramics is expected to rise significantly in the coming years in the Asia-Pacific region, primarily because of the growing adoption of these materials in automotive and electronics manufacturing industries. The need for consumer electronic products in developing countries including Taiwan, China, South Korea, India, and Japan is increasing rapidly because of rising disposable income of people. In addition to this, there are large production bases for the manufacturing of communication and information technology goods in the region, which meet the requirement for electronic products across the globe. These factors are leading to the growth of the electroceramics market in the region. In conclusion, electroceramics are being adopted in different industries for different applications because of their ideal properties.

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Market Forecast Market growth Market Size Methionine Market P&S Intelligence

Rising Poultry Consumption Driving Methionine Market

In 2017, the global methionine market generated a revenue of $5,114.3 million and is expected to attain $9,121.9 million in 2023, advancing at a 10.2% CAGR during the forecast period (2018–2023). The market is growing due to the rise in research & development (R&D) activities by key players, increasing requirement for animal feed in the poultry industry, and surging poultry consumption. Methionine is a vital amino acid which cannot be biosynthesized by the human body and is thus taken externally. Based on form, the market is divided into liquid and powder methionine.

When type is taken into consideration, the methionine market is categorized into methionine hydroxy analog (MHA), DL-methionine, and L-methionine. Out of these, the DL-methionine category dominated the market during the historical period (2013–2017), holding more than 55.0% and 60.0% shares, in terms of value and volume respectively, in 2017. This is because of the extensive applications of this type in different applications, such as animal husbandry, food processing, and pharmaceutical. The MHA category is expected to grow at the fastest pace during the forecast period.

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In terms of application, the methionine market is divided into aquaculture, animal feed additives, food processing, pharmaceuticals, and others (which include personal care and cosmetics). Among these, the animal feed additive division dominated the market during the historical period, contributing more than 60.0% and 70.0%, in terms of value and volume respectively, in 2017. This is ascribed to the surging consumption of meat around the world, which is prompting farmers to utilize methionine in animal diet. The aquaculture division is projected to advance at the fastest pace during the forecast period.

The rising poultry consumption is a key driving factor of the methionine market. This surge in the consumption of poultry is occurring due to the increasing disposable income of people, rising population, changing dietary preferences, and low chicken prices as compared to the prices of other meats. According to the global poultry trend data, the poultry meat uptake is predicted to rise by 1.7 kg per person, from 13.2 kg in 2013 to 14.9 kg in 2023. With this rising consumption of poultry, the requirement for animal feed additive is also rising.     

The increasing requirement for methionine in pharmaceutical applications, because of methionine’s therapeutic advantage, is opening up wide opportunities for the players operating in the methionine market. Methionine is extensively being utilized as an intermediate in the preparation of liver-related and vitamins medicines for treating pneumonia, liver cirrhosis, and toxic hepatitis. The acid is further used for helping in the treatment of asthma, Parkinson’s disease, wound healing, allergies, and copper poisoning. In addition to this, L-methionine is a powerful antioxidants and aids in slowing down the aging process.

A key trend being witnessed in the methionine market is the shift towards bio-methionine from synthetic sources. Methionine is primarily derived from petrochemical sources and is utilized as an animal nutritional-feed additive. However, the raw materials used for the synthesis of this acid, such as carbon disulphide, mercaptan, and hydrogen cyanide, are hazardous and hard-to-handle. Attributed to this, biochemical methods of procuring this acid are being researched and implemented. Thus, the rising demand for these bio-based materials, due to their sustainability, is expected to drive the market in the coming years.

Hence, the market is being driven by the surging consumption of poultry around the globe.

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APAC Construction Chemicals Market Construction Chemicals Market Industry Share Market Forecast Market growth Market Size P&S Intelligence

What will be Future of Asia-Pacific (APAC) Construction Chemicals Market?

By 2022, the construction industry of India would value $738.5 billion, and by 2025, it will be the third-largest across the world, as per Invest India, the country’s national body for investments. This is driven by the growth in population, high urbanization rate, and increase in the disposable income. All these factors lead to the rising demand for residential units, hospitals, schools, office complexes, manufacturing plants, and other types of civic infrastructure. This is the reason behind the increasing consumption of construction materials, including the variety of chemicals which are used for the purpose.

With almost all other countries in Asia-Pacific (APAC), especially Indonesia and China, witnessing such construction sector prosperity, the APAC construction chemicals market is predicted to grow, from $19,754.8 million in 2017 to $29,686.2 million by 2023, at a 7.1% CAGR during the forecast period (2018–2023). Adhesives, concrete admixtures, protective coatings, sealants, asphalt modifiers, and several other chemicals are used during building and infrastructure construction. Among these, concrete admixtures account for the heaviest consumption, majorly because of the rising focus on the quality of the structures being built.

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Such materials are added to the concrete or cement mixture to modify its rate of bleeding, workability, pumpability, and other properties. Across the region, roads, buildings, bridges, tunnels, and water retention structures are being rapidly built, thereby leading to the increasing consumption of cement and concrete. With the growing focus on quality construction, in the wake of defects in the finished structure, the usage of admixtures is escalating. Defects can prove deadly, if the structure collapses, resulting in human deaths, and these also raise the need for rebuilding, which consumes time, money, and other resources.

Thus, to minimize such damages, the quality of the construction materials is being improved, via the addition of chemicals such as concrete admixtures. Apart from making the structure durable, they also reduce construction costs and enhance the project speed, which is why real estate and infrastructure firms are increasing the usage of admixtures. Another advantage of these materials is that they significantly reduce the requirement for water, which is essential in today’s times of severe water scarcity, particularly in developing countries, many of which are in APAC.

This is why the demand for construction chemicals, including concrete admixtures, is expected to rise swiftly in the regional emerging economies, during the forecast period. Within APAC, the largest consumption of construction chemicals is witnessed in China, which is one of the largest economies in the world, therefore home to a huge construction sector. Further, many globally operating companies manufacture chemicals for the buildings and infrastructure sector in this country, as the labor and raw material are quite cheap here.

In the coming years, the APAC construction chemicals market would display the fastest progress in India, where the building and infrastructure sector is witnessing robust growth. For instance, the Airports Authority of India (AAI) is planning to construct new air transit hubs and renovate and expanding the existing ones, which would result in a heavy requirement for construction material, including various chemicals. Additionally, with the improvement of the country’s education system, the number of schools and colleges is also increasing, thereby driving the market.

Therefore, as the region witnesses robust construction activities, the demand for construction chemicals would also increase.

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Aerosol Market Industry Share Market Forecast Market growth Market Size P&S Intelligence

How is Expansion of Different Industries Driving Aerosol Market?

Several industries are witnessing considerable growth as the developing countries, including Malaysia, China, India, and Brazil, are registering swift industrialization. For example, the food & beverages industry in the U.S., China, and India is growing due to the rising disposable income of people. The living standards and food habits of consumers are changing, which is why they are spending increasingly on different food and beverage items. Similarly, the automotive industry is also registering considerable growth, as people are able to spend more on automobiles for their personal use. These industries make extensive utilization of aerosol products for different applications, which is why their growth is resulting in the increasing demand for aerosol.

Aerosol is a substance that is packaged under pressure and is dispensed and released as a fine spray by means of propellant gas through a container. As per a report by P&S Intelligence, in 2017, the global aerosol market reached a value of $53,871.6 million and is expected to attain $75,208.9 million in 2023, witnessing a 5.8% CAGR during the forecast period (2018–2023). Among the different regions, namely Asia-Pacific, Europe, North America, and Rest of the World, Europe created the largest demand for aerosol during 2013–2017. The fastest growth in demand is expected to be generated by the APAC region in the coming years.

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There are several applications of aerosol including insecticide, household, personal care, food & beverages, paints & varnishes, and automotive. Some other applications are technical and medical. Out of these, the highest demand for aerosol was created for the personal care application during 2013–2017 and the situation is projected to remain the same during the forecast period as well. The fastest growth in demand for aerosol is expected to be witnessed by the insecticide application in the near future. The utilization of aerosols as insecticides generate less waste than other insecticides, since they are designed to deliver a specific amount of poison and are metered.

The expanding personal care industry is a key driving factor of the aerosol market, owing to the fact that aerosols are utilized widely in several products, including dry shampoo, body spray, hair spray, shave cream, deodorant, and mousse foundation, in the personal care industry. The growth of the personal care industry is taking place because of the rising disposable income of people, which is allowing them to spend on luxury personal care products. In addition to this, the development of advanced and enhanced products, such as cosmeceutical (pharmaceutical & topical cosmetics) and other multifunctional products is further predicted to drive the industry.

The rising requirement for aerosols in packaging applications for different products, such as insecticides, household cleaners, paint sprays, & cosmetics, is opening up wide opportunities for players operating in the aerosol domain. Aerosol packaging provides easy application of insecticides and household products, without any skin contact, which is a significant characteristic for these products. Apart from this, aerosol products have a longer shelf life and remain fresh for a long time. This is projected to drive the demand for aerosol products in the near future.