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(I-AutoNewsWire.com, March 10, 2020 ) The report "Aerosol Cans Market by Material (Aluminium, Steel, and Plastic), Product Type (Necked-in, Straight wall, and Shaped), Propellant Type (Liquefied Gas, and Compressed Gas), End-use Sector, and Region - Global Forecast to 2021", The aerosol cans market size is projected to grow from USD 8.74 billion in 2015 to reach USD 10.93 billion by 2021, at a CAGR of 3.9%.
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The demand for aerosol cans is expected to be driven by factors such as ease-of-use, portability, recyclability, safety & strength, and the increased aesthetic appeal of the product. Furthermore, the growth in personal care industry and increase in demand for cosmetic products present a great opportunity for this market to grow in the future.
Personal care segment projected to be the largest segment during the forecast period
The personal care segment is projected to be the largest in the aerosol cans market on the basis of end-use industry, and this trend is projected to continue during the forecast period. Factors such as rising disposable income, change in consumer lifestyles, product presentation & differentiation, and rising demand for personal care products such as deodorants, hair sprays, and face & body creams will increase the consumption of aerosol cans. The retail industry, which is currently witnessing a shift from unorganized to organized retail, will also augment the demand for aerosol cans.
Aluminum is projected to be the largest growing segment during the forecast period
Aerosol cans market, on the basis of material type, have been classified into aluminum, steel, plastic and others, which include glass. The aluminum segment accounted for the largest share in 2015 due to its numerous benefits such as light weight, high recycling rates, and high standards of safety and hygiene.
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Browse in-depth TOC on "Aerosol Cans Market”
136 - Market Data Tables
48 - Figures
173 - Pages
Europe projected to account for the second largest share in the aerosol cans market by 2021
Europe, with developed economies such as U.K. and Germany, is expected to drive the aerosol cans market. Focus on reducing packaging waste will increase growth in the market for aerosol cans in Europe, as it is cost-effective and reduces wastage by increasing the shelf-life of the product. U.K. is projected to account for the largest market share and dominate the European aerosol cans market by 2021. The growth in personal care and home care industries is expected to drive the demand for aerosol cans in U.K. In addition to this, factors such as economic growth, rise in competition among manufacturers, consumer preference for packaging which is sustainable, high quality, convenient, and visual appeal have increased the demand for aerosol cans in the U.K.
The major players include Ball Corporation (U.S.), CCL Industries, Inc. (Canada), Crown Holdings, Inc. (U.S.), WestRock Company (U.S.), Ardagh Packaging Holdings Limited (Luxembourg), Nampak Ltd. (South Africa), Colep Portugal S.A. (Portugal), BWAY Corporation (U.S.), and Exal Corporation (U.S.). Companies have adopted strategies such as new product launches, mergers & acquisitions, expansions and investments to cope with the increase in demand in the emerging markets.
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