(MENAFN- GetNews) The industrial aerosol market in India is projected to witness a 5.6% CAGR between 2020 and 2030 by P&S Intelligence.
With the rise in the sale of automobiles, the demand for aerosols for repairing punctures, reducing friction and wear, and repainting and refinishing applications in the aftermarket is increasing in India. As a result, the industrial aerosol market in India , which generated $70.95 million in 2019, is projected to witness a 5.6% CAGR between 2020 and 2030, to reach $115.85 million by 2030.
In this regard, the surging automotive production is also a key driver for the Indian industrial aerosol market, as such products are widely used to maintain factories and machines, to ensure non-stop and smooth manufacturing operations. The Society of Indian Automobile Manufacturers (SIAM) says that vehicle production in India jumped 6.3% from FY201718 to reach 30,915,420 units in FY201819.
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In the past, the spray paints category dominated the Indian industrial aerosol market, on the basis of application. With the expanding automotive sector in India as a result of people's increasing purchasing power, the demand for spray paints among aftermarket entities for repainting scratches is rising.
The highest value CAGR, of 6.2%, in the Indian industrial aerosol market, based on cleaning applications, will be experienced by the electronics division in the years to come. With the rising demand for consumer and industrial electronic products, the demand for aerosol-based cleaning materials is surging.
The most-prominent players in the Indian industrial aerosol market are Twin Tech India Pvt. Ltd., Pidilite Industries Limited, Indian Aerosols Pvt. Ltd., Aerol Formulations Private Limited, Aerosol Specialities (India), Bans Aerosol Private Limited, PRIME AEROSOLS, Zenith Spray And Aerosols Pvt. Ltd., Renuka Multichem, S. S. Aerosols Pvt. Ltd., Stanvac-Superon Group, OKS Speciality Lubricants India, CRC Industries Inc., 3M Company, and Wuerth India Pvt. Ltd.
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Market Size Breakdown by Segments
- Spray Paints
- Engine cleaners
- Tire cleaners
- Carpet cleaners
- Electronic cleaners
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