Aerosol Propellants Market Share , Size , Trends , Growth , Industry Analysis and Forecast to 2024 | Hexa Research
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Aerosol Propellants Market Share , Size , Trends , Growth , Industry Analysis and Forecast to 2024 | Hexa Research
" The overall aerosol propellant market size in 2015 was approximately 10 million tons and the industry is expected to grow at a CAGR of around 4 % from 2016 to 2024 ."
The global Aerosol Propellants Market size is projected to reach USD 11 billion by 2024 . The development of high-quality propellant formulations with enhanced product dispensing capacities can drive this industry during the forecast period ( 2016-2024 ). In addition , widespread adoption of various aerosol-based personal care and household products could also positively influence the market . This trend is mainly ob served in developing countries , like India , Thailand , etc . Moreover , rising technological developments resulting in the production of superior propellant combinations may stimulate market demand .
Growth of the Aerosol Propellants Market depends greatly on the availability of raw materials , such as crude oil and natural gas . Moreover , cost of the product depends on the prices of crude oil and natural gas . High production of natural gas in Asia-Pacific and North America could boost the demand for aerosol propellants in the years to come . Additionally , greater technological initiatives resulting in the production of high -quality cans that are aesthetically appealing may augment the demand for these cans . This in turn can propel the global market .
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