Aerosol Propellants Market Size, Share & Trends Analysis Report By Product (Hydrocarbons, DME, Nitrous Oxide & Carbon Dioxide), By Application, By Region And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the aerosol propellants market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for aerosol propellants market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of aerosol propellants market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Aerosol Propellants Market Categorization:

The aerosol propellants market was categorized into four segments, namely product (Hydrocarbons, DME, Nitrous Oxide and Carbon Dioxide), application (Personal Care, Households, Automotive and Industrial, Foods, Paints and Coatings, Medical), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The aerosol propellants market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The aerosol propellants market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seveenteen countries, namely, the U.S.; Canada; Mexico; Germany; U.K.; Italy; France; Spain; Russia; China; India; Japan; South Korea; Brazil; Argentina; Saudi Arabia; South Africa

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Aerosol propellants market companies & financials:

The aerosol propellants market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Royal Dutch Shell is an integrated oil & gas company and engaged in business segments including upstream international, upstream Americas, downstream, and projects & technology. It offers high purity dimethyl ether (DME) has applications in the cosmetic and paint industry and has a production facility in the Rheinland Refinery, Wesseling. Shell DME 99.99 is mainly used as a blowing agent for foams and insulation boards, aerosol propellants in the cosmetics and paint industry, components for refrigeration fluids, and the production of dimethylsulfate.

• Brothers Gas is an LPG and industrial gas solution provider with business operations in LP gas, industrial gases, refrigerant gases, equipment, exports, and engineering services. It provides aerosol propellants under the trade name Brothers Gas Aerosol Propellant (BAPG). This product is LPG-based, making it an efficient alternative to chlorofluorocarbons. The key customers include manufacturers of perfumes, cosmetics, air fresheners, pesticides, paints, polishes, and food-grade packaging material. Further, it also provides the product in customized grades with different vapor pressures to meet the needs of different customers.

• The Chemours Company is a market player specialized in advanced performance material, thermal and specialized solutions, titanium technologies, and chemistry. It provides solutions for automotive, energy, consumer electronics, architectural coatings, mining, and application development. It delivers propellant products mainly for household products, and industrial and personal care applications by offering products that are safe alternatives to smog-forming and volatile organic compound (VOC) propellants. These products offer low to zero VOC formulation potential and can be blended for solvent-based or water-based products.

• Harp International Ltd is a market player with a specialization in the refrigeration and air conditioning industry. Its product offerings include refrigerants, foam-blowing agents, lubricants/refrigeration oils, aerosol propellants, and industrial gases. The aerosol propellant products offered by the company are for non-chlorofluorocarbon delivery systems.

• Nouryon is a global specialty chemicals manufacturer with business operations in agriculture, building and infrastructure, cleaning, personal care, packaging, paints coatings and inks, polymer, oil and gas, and food. It offers dimethyl ether (DME) as an aerosol propellant product, that is based on unique properties such as water miscibility and solvency power. Its key applications include hairspray, XPS industry, paint spray, and PU foam. It has Dimethyl ether (DME) production facilities located at Europoort, Rotterdam, The Netherlands.

• Mitsubishi Gas Chemical Company, Inc. is a global chemical manufacturer with business operations in basic chemicals and specialty chemicals. These chemicals serve applications including coating compounds, agriculture, dyes, perfumes, solvents, pharmaceuticals, food, washing and bleaching, and catalysts amongst others. It offers dimethyl ether aerosol propellant products at cosmetic quality grade.

• AVEFLOR, a.s. primarily deals in producing liquid and powder aerosols. In addition, the company manufactures end products such as emulsions, gels, powder aerosols and foams, veterinary, cosmetics, and pharmaceutical products. It offers various aerosol propellants which include propane-butane, dimethyl ether, carbon dioxide, nitrogen, air, tetrafluoromethane, and isopentane. Its aerosol propellants find applications in sprays and styling mousses, air-fresheners, deodorants, antiperspirants, and for various veterinary preparations.

• DuPont de Nemours, Inc. operates through various business segments which include industrial biosciences, agriculture, electronics & communications, nutrition & health, performance materials, performance chemicals, and safety & protection. The aerosol propellants are manufactured under the performance chemicals business segment. Products offered under this business segment include propellants, refrigerants, lubricants, solvents, fire extinguishers, electronic gases, and fluoroelastomers.

• Honeywell International Inc. is a multinational conglomerate that produces a variety of consumer as well as commercial products. Its prominent business operations include automation and control solutions (ACS), and aerospace and performance materials and technologies (PMT). It offers solstice propellants that are non-flammable and have ultra-low-global-warming potential (GWP). This solstice propellant is used in aerosols for electronics, automotive, and industrial applications, including dusters, air horns, and cleaning sprays. It produces a low global-warming material used in insulation and aerosol. It offers aerosol propellant which is widely used in hair sprays and mousses, shaving cream, and spraying paint. 

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Aerosol Propellants Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 - 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Aerosol Propellants Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.