The global aerosol valve market is expected to reach
USD 1.73 billion by 2022, according to a new report by Grand View Research,
Inc. Rising expenditure for the use of bag-on valve technology by personal care
manufacturers including P&G and Unilever in their products is expected to
promote the application of aerosol valves in the near future.
Demand for aerosol valves in paints exceeded 900.00
million units in 2014. Aerosol containers are used in the paints & coatings
industry on accounting of its ability to convert paint into a fine spray
thereby providing appropriate leveling and finish to the surface. Growing
paints & coatings industry in Asia Pacific on account of rising expenditure
towards the construction sector, particularly in new residential and commercial
buildings, is expected to drive industry growth over the forecast period.
Further key findings from the report suggest:
Global aerosol valves demand was 14.92 billion units
in 2014 and is expected to cross 18.50 billion units by 2022, growing at a CAGR
of 2.8% from 2015 to 2022.
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Demand for continuous valves exceeded 12.00 billion
units in 2014. These products are commonly used across a wide range of
applications owing to their ease of use & design along with high market
visibility as compared to their counterparts.
Medical application is expected to witness growth at
a CAGR of 1.6%, in terms of volume, from 2015 to 2022. Increasing use of pain
relief sprays among sports fraternity for the treatment of on-field injuries is
expected to drive demand over the next seven years. However, low adoption rate
among consumers regarding aerosol coupled with presence of stringent
regulations for this sector is expected to result in sluggish growth over the
forecast period.
North America market exceeded USD 395.0 million in
2014. Expansion of the automotive industry in Mexico on account of new vehicle
launches by Volkswagen and Renault in the local market coupled with close
proximity to the U.S. is expected to play a crucial role in fueling valves
demand for packaging of paints &coatings.
Latin America is expected to witness growth, at a
CAGR of 2.9% from 2015 to 2022, in terms of volume. Expansion of the personal
care sector in Brazil in light of rising domestic consumption is likely to
favorably impact the industry in the near future.
Key industry participants include Majesty Packaging,
Aptar, Summit, Lindal, Salvalco, and Precision Valve. In April 2015, Lindal
Group launched a ball valve with actuation of 360°. The product is approved by
the FDA for use in cosmetics, toiletries, household, automotive, and
pharmaceutical industries.
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