Newark, NJ, May 11, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global aerosol valves market is expected to grow from USD 2.94 billion in 2019 to USD 4.03 billion by 2027, at a CAGR of 4.03% during the forecast period 2020-2027.
The Asia-Pacific region is anticipated to witness significant growth in the market attributing to the development of the home furnishing market. Other factors driving the market in the region are rising application scope in construction, coating sector, automotive and paint, and government initiatives encouraging new investments. The market in Europe is projected to dominate the market, owing to the presence of a large number of aerosol manufacturers in the region. The Middle East and Africa is also anticipated to witness significant growth, owing to the rapid expansion in petrochemical production capacity in countries like the UAE and Saudi Arabia. North America to hold the second-largest position in the market. This is due to the rising product demand in personal care products. Other factors influencing the market in the region are economic growth, increasing competition among manufacturers, and consumer preference for high-quality and convenient packaging.
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Some of the notable players in the market are Precision Valve Corporation, LINDAL Group Holding, Mitani valve, KOH-I-NOOR Mladá Vožice a.s., Coster Tecnologie Speciali, Aptar Group, Summit Packaging Systems, Newman Green, and Clayton Corp.
The type segment includes metered and continuous. The metered segment account for the largest number of shares in the market, owing to rapid demand for aerosol sprays in the market. Based on application, the market is segmented into home care, personal care, automotive, food, paints, healthcare. Paint segment holds the largest number of shares in the market, owing to a large scale of infrastructural development in developing economies. The home care segment is also expected to grow, due to increasing use of aerosol valves in stain removers, starch, sprays, shoe polish, water repellents, furniture waxes, disinfectants, household surfaces, and air fresheners. Home care application segment is also driven by increasing awareness over hygiene and the growth of the home furnishing market.
The factors driving the market are increasing demand for cosmetic and personal care industry, growing concerns about product safety and security, rising demand in the shift towards easy-to-handle and convenient packaging, and introduction of innovative personal care and household products. Factors hampering the market growth are growing concerns about product safety and security and lack of availability of alternatives in terms of packaging and pricing.
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About the report:
The global aerosol valves market is analysed on the basis of value (USD million). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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