Aerosol Valve Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The aerosol valve market was valued at over USD 1,378.22 million in 2020, and it is expected to reach USD 1,744.61 million by 2026, registering a CAGR of 4.05% during the forecast period (2021 - 2026). The major factors driving the growth of the market studied are increasing demand for aerosol valves from the paints & coatings and automotive industry as well as increasing awareness related to hygiene & personal care.

• Increasing product penetration in the healthcare industry for products, such as asthma inhalers and other types of sprays, continuously improving consumer lifestyle backing the demand from the personal care and cosmetic industry for aerosol valves which enable the application in 360 degrees and consume 25% less substance for the relative area coverage is also expected to boost the demand for aerosol valves over the forecast period.
• The components used for the manufacturing of aerosol valves, such as gaskets, seals, springs, and dip tubes, are available in abundance owing to the presence of a large number of manufacturers. In addition, low product differentiation enables easy supplier switching at a low cost. The combined effect of this has resulted in the low bargaining power of suppliers and thus has an effect on the overall pricing of valves.
• In the emerging economies due to rise in urban population, which is leading to a rise in income, automotive manufacturing is witnessing tremendous growth. In the developed economies, there is high replacement rate of diesel/petrol cars with electric or hybrid cars, which is propelling the demand of aerosol valves.
• Vendors rely on partnerships and product innovations to remain relevant in the market. Coster Group was the first aerosol valve and actuator manufacturer to comply with cosmetic GMPs, meeting the highest manufacturing and service standards required by the industry. It obtained the UNI EN ISO 22716:2008 certification on cosmetic Good Manufacturing Practices (GMPs) for three Italian plants.
• The outbreak of COVID-19 has a positive impact on the aerosol valve industry due to sudden increase in the demand from healthcare sector and support from regulatories bodies across the globe to maintain a steady supply. Though the demand from other sectors such as automotive has lowered due to complete hault in production activities. For instance, On April 14 2020, the U.S. Environmental Protection Agency (EPA) announced it had put into place additional measures to ensure a steady supply of safe and effective disinfectant products to help battle the novel coronavirus, SARS-CoV-2 helping the aerosol valve industry sustain through these critical times.

Scope of the Report

An aerosol is made up of four components: the container, the valve, the actuator, and the cap. The valve is made up of small components such as gaskets, seals, springs, and dip tubes, etc. The valve operates as a non-visible component but its role is essential: it keeps the container airtight, clean, and hygienic and regulates the flow of the product during use.

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Key Market Trends

Personal Care Segment is Expected to Hold a Significant Market Share

• An increase in disposable incomes of the population in developing countries and changes in preferences of manufacturers for convenient packaging are some of the factors that are driving the aerosol valves market. Aerosol valves are widely used in the personal care industry in aerosol cans for the packaging of different products such as deodorants, face & body creams, shaving foams, and perfumes.
• According to AEROBAL, the cosmetics sector continues to be the most important market for aluminum aerosol cans by far, accounting for nearly 85% of total production worldwide. Deodorants and perfumes are the major products accounting for every second can produced have 60% market share followed by hair sprays, hair mousses, and other cosmetic products. The surge in aluminum aerosol cans will lead to increased demand for aerosol valves in the industry.
• The demand for personal care products in the United States and its contribution to the global number is significantly high. After European countries, the United States marks a higher consumption of cosmetic and personal care products with FDA regulating and inspecting imports. Owing to these factors, depsite fluctuation in demand for deodorants, hair sprays, etc., the country will drive the marke growth.
• Moreover, players are investing in the valve technology for the sustainability, catering to the market growth. In May 2020, UK-based Salford Valve Company (Salvalco) received an investment from personal care giant, Beiersdorf. The investment follows the launch of Salvalco’s Eco-Valve aerosol valve, which uses ecologically sustainable propellants. The equity investment from Beiersdorf’s venture platform, OSCAR&PAUL Beiersdorf Venture Capital, underlines the company’s ambition to drive sustainable innovations under its new sustainability agenda and its C.A.R.E+ corporate strategy.

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