Pune, India, Nov. 17, 2023 (GLOBE NEWSWIRE) -- The global aerosol can market size was USD 10.02 billion in 2022 and is set to rise from USD 10.52 billion in 2023 to USD 15.42 billion by 2030, recording a CAGR of 5.62% from 2023 to 2030. Fortune Business Insights™ shares this information in its report titled “Aerosol Can Market Size, Share, Growth and Forecast Report 2023-2030.”
An independent dispensing device called an aerosol allows a substance to be held in a container and released as a tiny spray, mist, or foam. The growing usage of these cans in the food industry to prevent product contamination and spills, such as frosting of pastries and cheese foam, is increasing their demand in this sector. Market growth is attributed to the increasing need for aerosol cans in the automotive, paints, and personal care industries due to their many benefits.
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List of Key Players Profiled in the Aerosol Can Market Report:
- Ball Corporation (U.S.)
- Crown Holdings (U.S.)
- CCL Industries (Canada)
- Trivium Packaging (U.S.)
- Sonoco Products Company (U.S.)
- Nampak (South Africa)
- Alucon (Thailand)
- Mauser Packaging Solutions (U.S.)
- Hindustan Tin Works Ltd. (India)
- Alltub Group (France)
Competitive Landscape:
Top Market Players Focus on Product Innovations to Remain Dominant in the Market
The market is quite competitive and fragmented. Leading companies are constantly working on increasing their customer base to maintain their positions. Some market players are also focusing on product innovations to make a mark in this industry.
Key Industry Development:
- January 2022: One of the biggest aerosol can manufacturers in North America, Ball Metalpack, was acquired by one of the prominent sustainable packaging firms, Sonoco Product Company. This acquisition will strengthen Sonoco’s existing flourishing metal packaging business.
COVID-19 Impact:
Decreased Production Facilities amid Pandemic Hampered Market Growth
The pandemic negatively impacted the aerosol can market growth. The closure of borders and production facilities amid the pandemic, which caused a drop in the demand and supply of products, resulted in negative market growth. However, the home care industry saw increased demand for the products since individuals used them to prevent infections.
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Segmentation
The Aluminum Segment Dominates the Market due to its Affordability
By material, the market is categorized into aluminum, steel & tinplate, and plastic. Aluminum is the leading segment of the global market. Aluminum is the leading segment of the global market. Due to its superior physical qualities over other materials, aluminum is preferred by producers, retailers, and most importantly, purchasers. It is portable, easy to use, and affordable to ship domestically and internationally.
Surging Need for Necked-In Cans in the Industrial Sector is Fostering Segment Growth
On the basis of product type, the market is classified into straight wall, necked-in, shaped, and others. The necked-in segment accounts for the highest global market share. The content of necked-in cans is safe since they are sealed, protecting them from infection. The increasing need for necked-in cans in the industrial sector to remove residue from engines and enhance shine is boosting segment growth.
Increasing Demand for Personal Care Products Fueling Segment Growth
In terms of application, the market is divided into personal care, home care, pharmaceutical, automotive & industrial, paints, and others. The personal care segment is commanding the global market. The personal care segment is extremely competitive and offers a large variety of products. The increasing demand for personal care products as a result of rising hair and body care product usage is augmenting segment growth.
Report Coverage:
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints:
Increasing Demand for Aluminum Cans Due to their Recyclability is Boosting Market Development
One of the preferred solutions for firms trying to develop their circular projects is metal packaging. The main benefit of metal is that it can go through numerous recycling processes without compromising its purity or quality. Aluminum aerosol cans are made from highly pure aluminum, which adds to their high value, high level of efficacy, and special metal properties. They provide superior packaging and a competitive edge over other packaging types, propelling market growth. Recycling metal makes aluminum can production 20 times more energy-efficient than using raw materials. The capacity to be recycled and increased awareness about sustainability are changing people’s attitudes toward aluminum cans.
Nevertheless, the ability of aerosol cans to ignite other harmful chemicals and substances in the workplace is hampering market growth.
Regional Insights:
Increasing Consumer Awareness about the Skin Benefits of Personal Care Products is Driving Market Growth in Europe
Europe holds the highest aerosol can market share. Increasing awareness among individuals about good health and the several skin benefits of personal care items are the key factors boosting market expansion in the region.
North America is the second-largest market. The presence of a well-known pharmaceutical industry and the rapid expansion of the automotive industry are augmenting market growth in the region.
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Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porter’s Five Forces Analysis
- Impact of COVID-19 on the Aerosol Can Market
- Global Aerosol Can Market Analysis (USD Billion), Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Material
- Aluminum
- Steel & Tinplate
- Plastic
- Market Analysis, Insights and Forecast – By Product Type
- Straight Wall
- Necked-In
- Shaped
- Others
- Market Analysis, Insights and Forecast – By Application
- Personal Care
- Home Care
- Pharmaceutical
- Automotive & Industrial
- Paints
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued...!
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