The Indian aerosol market reached a valuation of $526.28 million in 2019 and is predicted to generate a revenue of $891.13 million by 2030. According to the estimates of P&S Intelligence, a market research company based in India, the market will progress at a CAGR of 6.0% between 2020 and 2030. One of the major factors driving the progress of the market is the growing requirement for aerosols in the manufacturing and automotive industries.
Additionally, the implementation of favorable government initiatives regarding research and development (R&D) projects in the manufacturing industry is further boosting the advancement of the market. With the expansion of the automotive industry, due to the ballooning sales of commercial vehicles, passenger cars, two-wheelers, quadracycles, and three-wheelers, the requirement for aerosols is growing rapidly across the world. As per the Society of Indian Automobile Manufacturers (SIAM), 30,915,420 vehicles were manufactured by the Indian automotive industry in 2018–19.
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Depending on application, the market is divided into personal care, residential, industrial, and spray paints. Amongst these, the personal care category recorded the highest growth in the market during the past few years and is predicted to demonstrate the fastest growth in the future. This will be because of the surging disposable income of people and the subsequent rise in the sales of various aerosol-based personal care products such as dry shampoos, hair sprays, mousse foundations, shaving creams, and deodorants.
The Indian aerosol market registered the highest growth in the northern part of the country in the past years and this trend is likely to continue in the future years as well. This will be a result of the increasing preference of customers for various personal hygiene products such as antiperspirants/deodorants in this region. Additionally, the growing requirement for home care and aerosol-based car care products will propel the market advancement in this region in the coming years.
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The biggest players in the Indian aerosol market are Twin Tech India Pvt. Ltd., Pidilite Industries Limited, Aerol Formulations Private Limited, Bans Aerosol Private Limited, Indian Aerosols Pvt. Ltd., Aerosol Specialities (India), PRIME AEROSOLS, Zenith Spray And Aerosols Private Limited, S. S. Aerosols Pvt. Ltd., OKS Speciality Lubricants (India), Renuka Multichem, Stanvac-Superon Group, CRC Industries Inc., 3M Company, Wuerth India Pvt. Ltd., ABRO Industries Inc., RPM International Inc., R.J. London Chemicals Industries Co. Ltd., Vanesa Group, and Aeroaids Corporation.
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