The aerosol valves market size is projected to grow from USD 2.71 Billion in 2017 to reach USD 3.30 Billion by 2022, at a CAGR of 4.03%.
Browse 132 market data Tables and 23 Figures spread through 143 Pages and in-depth TOC on “Aerosol Valves Market by Type (Metered, and Continuous), End-use sector (Personal care, home care, Healthcare, Automotive), And Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) – Global Forecast to 2022”
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The demand for aerosol valves is expected to be driven by factors such as ease-of-use, portability, recyclability, safety & strength, and the increased aesthetic appeal of aerosol cans. Furthermore, the growth in the personal care industry and increase in demand for cosmetic products present growth opportunities for this market in the future.
The continuous aerosol valves segment is projected to dominate the market through the forecast period.
The aerosol valves market, on the basis of type, has been segmented into continuous and metered. The continuous segment accounted for the largest share in 2017 due to its numerous benefits such as high durability, high recycling rates, and high standards of safety & hygiene.
The personal care segment is projected to be the largest segment through the forecast period.
The personal care segment is projected to be the largest in the aerosol valves market on the basis of end-use industry, and this trend is projected to continue through the forecast period. Factors such as rising disposable incomes, 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 valves. The retail industry, which is currently witnessing a shift from unorganized to organized retail, will also drive the growth of this market.
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North America accounted for the largest share of the aerosol valves market in 2016.
North America, with developed economies such as US and Canada, is expected to drive the aerosol valves market. Focus on reducing packaging waste would drive the growth of the aerosol valves market in North America, as they are cost-effective and reduce wastage by increasing the shelf life of the product. The US is projected to dominate the North American aerosol valves market through 2022. The growth in the personal care and home care industries is expected to drive the demand for aerosol valves in the US. In addition to this, factors such as economic growth, the rise in competition among manufacturers, consumer preference for high-quality, convenient, visually appealing, and sustainable packaging, would also drive the demand for aerosol valves in this region.
The major players include Aptar Group (US), Precision Valve Corporation (US), Coster Tecnologie Speciali (Italy), LINDAL Group Holding (Germany), Mitani Valve (Japan), Summit Packaging Systems (UK), Clayton Corp. (US), Newman Green (US), KOH-I-NOOR Mladá Vožice a.s. (Czech Republic), and SALVALCO (US). 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.