The global aerosol valve market is estimated to witness healthy growth, at an estimated CAGR of 4.05%, over the forecast period (2020-2025)
NEW YORK, Sept. 22, 2020 /PRNewswire/ -- The global aerosol valve market is estimated to witness healthy growth, at an estimated CAGR of 4.05%, over the forecast period (2020-2025). The major factors driving the growth of the market studied are increasing demand for aerosol valves from the paints & coatings and automotive industry as well as increasing awareness related to hygiene & personal care.
Read the full report: https://www.reportlinker.com/p05974141/?utm_source=PRN
- Increasing product penetration in the healthcare industry for products, such as asthma inhalers and other types of sprays, continuously improving consumer lifestyle backing the demand from the personal care and cosmetic industry for aerosol valves which enable the application in 360 degrees and consume 25% less substance for the relative area coverage is also expected to boost the demand for aerosol valves over the forecast period.
- The components used for the manufacturing of aerosol valves, such as gaskets, seals, springs, and dip tubes, are available in abundance owing to the presence of a large number of manufacturers. In addition, low product differentiation enables easy supplier switching at a low cost. The combined effect of this has resulted in the low bargaining power of suppliers and thus has an effect on the overall pricing of valves.
- The outbreak of COVID-19 has a positive impact on the aerosol valve industry dur to sudden increase in the demand from healthcare sector and support from regulatories bodies across the globe to maintain a steady supply. Though the demand from other sectors such as automotive has lowered due to complete hault in production activities. For instance, On April 14 2020, the U.S. Environmental Protection Agency (EPA) announced it had put into place additional measures to ensure a steady supply of safe and effective disinfectant products to help battle the novel coronavirus, SARS-CoV-2 helping the aerosol valve industry sustain through these ncritical times.
Key Market Trends
Personal Care Segment to Hold the Largest Market Share
- An increase in disposable incomes of the population in developing countries and changes in preferences of manufacturers for convenient packaging are some of the factors that are driving the aerosol valves market. Aerosol valves are widely used in the personal care industry in aerosol cans for the packaging of different products such as deodorants, face & body creams, shaving foams, and perfumes.
- According to AEROBAL, the cosmetics sector continues to be the most important market for aluminum aerosol cans by far, accounting for nearly 85% of total production worldwide. Deodorants and perfumes are the major products accounting for every second can produced have 60% market share followed by hair sprays, hair mousses, and other cosmetic products. The surge in aluminum aerosol cans will lead to increased demand for aerosol valves in the industry.
- The demand for personalcare products in the United States and its contribution to the global number is significantly high. After European countries, the United States marks a higher consumption of cosmetic and personal care products with FDA regulating and inspecting imports. Owing to these factors, depsite fluctuation in demand for deodorants, hair sprays, etc., the country will drive the marke growth.
Europe to Hold the Largest Market Share
- According to the 2018 data published by FEA European Aerosol Production in 2019, 5.5 billion over 16 billion units globally produced, are made in Europe. United Kingdom, Germany, and France Aerosol market share (%, 2018) provides more than 60% of the annual aerosol production in Europe in all segments boosting the growth opportunities for aerosol valves in the region.
- The personal care segment has the largest market share of 57% in terms of aerosol production followed by paints, varnishes, food, pharmaceuticals, and chemicals. The wide application of aerosol valves in these cans results in a simultaneous growth of aerosol valves in the region.
- Stringent government regulations surrounding the collection and recycling of used cans have made the industry follow an optimum chain of operations in order to comply with the regulations. For instance, It is mandatory for the Member States of Europe to develop systems for the return and/or collection of used packaging in order to attain, amongst other aspects, the following minimum targets for recycling: 80% of ferrous metals and 60% of aluminum contained in packaging waste. This boosts the recycling of aerosol valves and thus provides a sustainable market growth by combatting restrains such as above.
Competitive Landscape
The aluminum aerosol valve market is highly moderately fragmented with the presence of a few major players in the market as the market is price sensitive, the sustaining in the market is difficult.
- December 2019 - Coster signed a binding agreement to complete the acquisition of Catidom SAS, a French company specialized in metal anodization. Coster will acquire the remaining 60% of Catidom's share capital from Vacheron Industries. The acquisition will strengthen the position and offer of both companies in beauty packaging and consolidate the position of Catidom in the automotive, mechanical, sport & leisure markets. The closing of the operation is set in January 2020.
- July 2019 - Aptar Launched fan spray insert for Bag-On-Valve cooking sprays. Bag-on-valve is an excellent packaging example that allows for more natural food preservation, especially within the cooking spray market.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05974141/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article