Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Aerosol Valve Market (By Application: Medical, Personal Care, Household, Automotive & Industrial, Foods, Paints, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”.
LOS ANGELES, April 10, 2019 (GLOBE NEWSWIRE) -- The global aerosol valve market is anticipated to touch the value of over US$ 1.86 billion by the end of 2026 and expected to register significant CAGR growth rate of 4.3% over forecast period.
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The growing demand for aerosol based products in the healthcare, personal care and homecare industry is supplementing the market growth for aerosol valve globally. The applications of aerosol valve is increasing significantly from recent past due to the rapid demand for aerosol based product in healthcare sector for drug delivery, asthma inhalers, sprays for pain relief and many other propels the market growth.
The global aerosol valve market is segmented based on application and region. The global aerosol valve market segmentation by application includes Medical, Personal Care, Household, Automotive & Industrial, Foods, Paints and Others. The segmentation based on regions includes North America, Latin America, Europe, APAC, and MEA. The report includes in-depth analysis according the segmentations mentioned.
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Industries including automobile, healthcare, personal care and others are increasingly demanding the aerosol valve or aerosol based products to improve the development process and maintain safety. Aerosol is usually a suspension of particles that are present in the surrounding and with the help of aerosol equipment, substances are released in the form of spray present in a pressurized containers. The increasing use of asthma inhalers, pain relief sprays and other type of sprays for treating several conditions such as sunburn, pain, itching problems and insect bites is fueling the market growth in the forecast period. The beneficial properties of aerosol valve are increasing its applications significantly from past few years due to rapid industrialization. In addition to this, rise in urbanization is leading to the increasing in urban area development projects such as smart cities. The rising demand of aerosol products across different end-user industries is anticipated to incremental opportunity in terms revenue generation over the opportunity assessment period. However, stringent regulatory framework is expected to affect the growth of global aerosol valve market over the forecast period.
The Europe region leads the global Aerosol Valve market owing to the presence of numerous aerosol manufacturers in the region. However, the market is anticipated to witness slow growth owing to the matured industry in the developed economies of the region. On the other hand, Asia Pacific region has emerged out to be the most lucrative market and expected to grow at the fastest rate due to the strong economic and industrial growth witnessed by the countries such as China and India, major contributor for the market progression. The growing awareness about the personal and hygiene care supplements the demand for aerosol valves in the region.
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North America holds the second position in the aerosol valve market talking in the terms of consumption specifically due to the elevated demand in personal care products apart from strong penetration in healthcare sector. Contrariwise, stringent government regulation against the use of HCFC, CFC and HFC due to the GHG emission further limits the market growth in the region. The other regions such as Middle East & Africa are endorsing remarkable growth specifically due to the rich production capacity for petrochemical in UAE and Saudi Arabia area. Also, the government supports the promotion of ethylene and propylene as propellants for producing aerosol products contributing to the increased demand for aerosol based products in the region. The rise in the consumption of aerosol products in automotive and industrial segment owing to the increasing demand for aerosol greases and lubricants by numerous manufacturing industries drive the market in all developing nations.
The leading companies in the market are continuously focusing on product innovation for the development of latest aerosol technologies that are ecofriendly. There has been a gradual shift from traditional to advanced manufacturing process using reduced energy and raw materials, where aerosol products play a vital role, thereby driving the growth for aerosol valve market. The Key companies profiled in the market include Precision Valve Corporation, Aptar Group, Coster Tecnologie Speciali, Mitani valve, LINDAL Group Holding, Summit Packaging Systems, Clayton Corp., Newman Green and KOH-I-NOOR Mladá Vožice a.s. The companies have adopted partnership, collaboration, agreement and product innovation as their key strategies to strengthen its customer base in the market. The leading manufacturers of aerosol valves specifically focus on emerging countries that are projected to indicate ample potential for industrial development in the foresee future.
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