The aerosol market in India reached a revenue of $526.28 million in 2019 and it is predicted to progress at a CAGR of 6.0% between 2020 and 2030. Furthermore, the market will attain a valuation of $891.13 million by 2030. The market is being driven by the burgeoning requirement for aerosols in the manufacturing and automotive industries and the increasing enactment of favorable government initiatives regarding research and development (R&D) activities in the manufacturing industry.
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With the surging manufacturing of commercial vehicles, passenger cars, two-wheelers, three-wheelers, and quadracycles, the sales of aerosols are growing rapidly in India. As per the Society of Indian Automobile Manufacturers (SIAM), in India, the automotive industry manufactured 30,915,420 vehicles during 2018–19. As per the India Brand Equity Foundation (IBEF), because of the soaring population of young people and the disposable income of people, the sales of automobiles will skyrocket in the coming years.
Geographically, the Indian aerosol market registered the highest growth in the northern part of the country during the last few years and this trend will continue in the forthcoming years as well, as per the forecast of P&S Intelligence, a market research company based in India. This is credited to the growing consumer preference for various personal hygiene products such as antiperspirants and deodorants and aerosol-based homecare and car care products in the northern region.
Hence, it can be said with full confidence that the market will demonstrate huge expansion in the coming years, primarily because of the growing requirement for aerosol in the manufacturing and automotive industries in the country.
