Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSApril 2020: AptarGroup, Inc. announced that it has mobilized its resources and has reorganized its production priorities to deliver essential supplies in dispensing and packaging solutions to customers. The move has benefitted manufacturers of health and safety products to initiate their production process for the first-line responders, which has ultimately helped to fight against the coronavirus pandemic.
December 2019: Coster Tecnologie Speciali S.p.A. announced that it has acquired the company which is specialized in metal anodization, Catidom SAS. The acquisition move by Coster would help the organization in expanding its product portfolio in luxury packaging in the international markets.
Introduction to Aerosol Valve
Aerosol is referred to a suspension of fine liquid droplets or solid particles in the air or another gas. An aerosol spray is a type of dispensing system which creates an aerosol mist of liquid particles and comprises of five major components, i.e. actuator, valve, container, propellant, and product concentrate. An aerosol valve is the equipment that discharges the contents in the form of a spray from the pressurized containers, and are commonly used in the packaging of food products, personal care products, hairsprays, deodorants, pharmaceutical, insecticides, and other household products. The technological development in the aerosol valve is anticipated to create an immense market potential for various end-user industries such as medical, cosmetics, and others in the future. Aerosol-based products are broadly used by a large number of consumers owing to the ease of use which fuels the popularity of aerosol valves in the packaging industry.
Market Size and Forecast
The global aerosol valves market is anticipated to witness a mammoth growth owing to the rising demand for aerosols used for household cleaning, coupled with the rising demand for personal care products, which is raising the need amongst the manufacturers of aerosol products to consume more amount of aerosol valves in their packaging process of the aerosol products. According to the statistics by the International Trade Centre, imports of scent sprays and similar toilet sprays and mounts and heads thereof have increased from USD 760930 thousand in the year 2010 to USD 1143096 thousand in the year 2019. CLICK TO DOWNLOAD SAMPLE REPORT
Aerosols are sold in the form of shaving creams, face & body creams, deodorants, hairsprays, where aerosol valves are extensively used. Rising consumer preference for cosmetics with convenient applications is fueling the demand for aerosols which in turn is anticipated to promote the growth of the market for aerosol valves. Moreover, on account of the changing consumer lifestyle, advances, and innovations in the cosmetic industry are estimated to support the growth of the aerosol valves market over the coming years.
The global aerosol valves market is anticipated to record a notable CAGR in the forecast period i.e. 2020-2028. The market is segmented by type and application. Among these segments, the type segment is further sub-divided into metered and continuous, out of which, the continuous segment is anticipated to hold the leading shares in the aerosol valves market on account of high durability, user-friendly, and high recycling rates, coupled with the rising concerns about safety and hygiene. On the other hand, the metered segment is estimated to witness a modest growth over the forecast period owing to the use of convenience in asthma inhalers and respiratory equipment, along with the rising respiratory disorders, such as, asthma, pneumonia and others. On the contrary, the personal sub-segment of the application segment is anticipated to hold the largest share of the market over the forecast period.
Growth Drivers
Rapid Rising of Healthcare and Personal Care Industry
According to the World Health Organization, global spending on health grew by 3.9% per year in real terms from 2000 to 2017. Additionally, it also stated that the spending on health grew significantly from US$ 7.6 trillion in 2016 to US$ 7.8 trillion in 2017. The growing spending on health globally is also anticipated to promote the use of healthcare products which use aerosol valves in various product forms. An aerosol is generally used in personal healthcare and cosmetics products such as deodorants, hairsprays, shaving creams, face & body creams, which are estimated to support the growth of aerosol valves market. Additionally, the rising demand for aerosols used for household cleaning is anticipated to fuel the growth of the market over the forecast period.
Restraints
Availability of Alternatives
Fluctuations in the prices of raw materials used to manufacture aerosol valves and the availability of alternatives in terms of packaging and price, coupled with factors such as the disposal of aerosol valves and the environmental concerns are some of the factors expected to hinder the growth of the market over the forecast period.
Market Segmentation
Our in-depth analysis of the global aerosol valves market includes the following segments:
By Type
By Application
By Region
On the basis of regional analysis, the global aerosol valves market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The market in North America is anticipated to hold the largest share owing to the high disposable income among the individuals in the developed economies of the U.S. and Canada, which helps to promote an urban lifestyle, and in turn helps to raise the demand for personal care, automotive, healthcare, and food products. Moreover, increasing awareness amongst the citizens of the region regarding product wastage and recycling of containers, coupled with the economic growth, dynamic consumer preferences for high-quality and convenient packaging, and the increasing competition among manufacturers are also anticipated to drive the growth of the market in North America. The market of Middle East & Africa is expected to have a modest growth over the forecast period on account of rapid expansion in the petrochemical production capacity in Saudi Arabia and UAE, along with the government support for the promotion of new investments is anticipated to boost demand for ethylene and propylene as well as other propellants which are used in the production of aerosol products, thereby complementing the market growth.
The global aerosol valves market is further classified on the basis of region as follows:
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