Market Size of Aerosol Valve Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.13 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Aerosol Valve Market Analysis
The aerosol valve market is expected to grow with a CAGR of 4.13% during the forecast period (2022 - 2027). 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 manufacturing aerosol valves, such as gaskets, seals, springs, and dip tubes, are available in abundance owing to the presence of many 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 impact on the overall pricing of valves.
- Due to the rise in urban population, which is increasing income, the automotive manufacturing is witnessing tremendous growth in emerging economies. In developed economies, there is a high replacement rate of diesel/petrol cars with electric or hybrid cars, propelling the demand for aerosol valves. However, aerosol valve market growth is expected to be hampered by regulations imposed on aerosol manufacturing and product safety related to the composition of the contents inside the containers.
- 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 industry's highest manufacturing and service standards. 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 had a positive impact on the aerosol valve industry due to a sudden increase in the demand from the healthcare sector and support from regulatory bodies across the globe to maintain a steady supply. Though the demand from other sectors, such as automotive, has lowered due to a complete halt in production activities.
