Methyl ether and dimethyl ether, one of the key product segments are estimated to witness growth at a CAGR of 6% during the forecast period, as these products exhibit low global warming potential and no damage to the ozone layer. Due to the superior performance and reduced costs of the product, the demand for DME based blends is likely to increase the usage of can fillers thus enhancing the product consumption. Due to the factors including low environmental damage and higher stability the consumption of aerosol propellant gases is expected to rise over the years ahead. The utilization of nitrous oxide is highly regulated due to its adverse effects on health of humans. ncreased usage of floor cleaners and insect sprays is considered to drive the product consumption in the household application segment. The demand for spray cleaners has also increased due to the boom in disposable income of consumers and noticeable changes in lifestyle of consumers which has increased the demand for products like wall coverings, furniture and others.
The Asia Pacific market is expected to show the fastest growth owing to a couple of socio-economic factors such as increase in disposable income and change in consumer lifestyles. Significantly rising use of various personal care products such as hair styling sprays and deodorants, among consumers is likely to boost the product consumption in the future. The market is expected to see a huge growth due to availability of low cost product formulations, as a consequence of decreased costs of raw material and low cost labor.
E.I. DuPont de Nemours and Company, BOC Industrial Gases, Harp International, Grillo-Werke GmbH, ExxonMobil, Unigas Europe, Aerosol Gas Ltd., and Covestro AG are a few of the prominent players operating in the global market.