Asia Pacific is expected to have a positive impact on Succinic Acid Market over the forecast period

The global succinic acid market is expected to reach USD 237.8 million by 2022, according to a new report by Grand View Research, Inc. Rising need in various application segments including 1,4 butanediol, pharmaceuticals, and polyurethanes is expected to result in considerable share for the product over the next seven years. Healthcare sector growth on account of rising health awareness among consumers in emerging economies of Asia Pacific is expected to have a positive impact on the industry over the forecast period.

Fluctuation of raw material prices, fuel, and energy costs are expected to hamper overall cost of the product, which in turn is expected to challenge demand. In addition, major companies are focusing on the manufacturing of the product through bio-based routes. This is expected to restrain growth over the forecast period.

Growing political and regulatory pressures on chemical companies to reduce carbon emissions coupled with growing concerns over depleting fossil fuel reserves have led to bio-based succinic acid development, which will act as a drop in replacement for the product, thus restricting growth.

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Further key findings from the study suggest:

• 1,4 BDO is expected to be the fastest growing segment in terms of volume and revenue. It is expected to grow at a CAGR of 12.0% from 2015 to 2022. Rising BDO consumption in the manufacturing of tetrahydrofuran (THF), which is used as a solvent in pharmaceutical sector, is expected to have a positive impact on the industry.
• Resins, coatings, dyes, and inks were the largest application segment valued at USD 23.0 million in 2014. Aerospace and electronics sector development in Asia Pacific countries including India and China is expected to promote demand.
• Asia Pacific is expected to be the fastest growing market at a CAGR of above 10.5% from 2015 to 2022. Lack of stringent regulations in the region is expected to be a key driving factor for the market. Cosmetic industry growth in China, India, and Japan is expected to further augment succinic acid demand over the forecast period.
• Global industry is fragmented on account of presence of numerous companies; however, most of these companies have switched to the production of succinic acid through the bio-based route. They invest highly in R&D to introduce the bio-based form that exhibits similar properties as that of the synthetic products. In October 2012, Reverdia and Helm AG signed an agreement to sell and distribute bio-succinic acid in Europe.

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ECG Equipment Market is expected to reach USD 6.3 billion by 2022

The global ECG equipment market is expected to reach USD 6.3 billion by 2022, according to a new report by Grand View Research Inc. The rising incidences of cardiovascular disorders and government initiatives to make people aware about health check-ups are expected to boost market growth. In addition, the change in the medical preference from acute intervention to preventive care is expected to increase the demand for more accurate and cost-effective methods for heart monitoring.

According to the WHO, in 2012, around 17.5 million people died due to cardiovascular diseases. This is due to the late diagnosis and absence of early symptoms as the patient fails to keep record of his vital signs.

Owing to the increasing incidences, government is undertaking various awareness programs. According to the American Heart Association (AHA), 56% women identified heart disease as a leading cause of death in 2012 as compared to 30% in 1997.

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Further key findings from the study suggest:

• ECG monitoring equipment has high future growth potential owing to changing trend towards preventive care and new product innovation with data integration. In February 2014, Medtronic launched its FDA approved Reveal LINQ. The upgraded version of Reveal XT offers patient heart monitoring for three years with 20% more data memory than its previous version.
• ECG stress testing systems is one of the dominating segments of the market. The growing need for flexible stress systems and comprehensive data management is driving the market for this segment. Quinton 9500 series from Cardiac Science portable system allows physicians to optimize the examination space and enables more data integrations.
• Holter monitoring systems is another segment, which is expected to gain significant market share over the forecast period due to the fact that the system assists in identifying arrhythmias that takes place during certain activities such as exercise, stress, bowel movements, sleep, eating, and stress
• 2M Engineering Ltd. launched the VitaMove 2S ExG movement and ECG-recorder, which is equipped with 3-lead ECG holter, that combines daily activities with heart rate events/trends, ECG, and derivatives such as Heart Rate Variability (HRV)
• North America dominated the market in 2014 and is expected to grow at a CAGR of 5.8% over the forecast period. With major industry players situated in North America, the innovations and upgrading rates are higher as compared to other regions. In August 2015, InfoBionic along with Safeguard Scientists raised USD 8 million to commercialize Mome Kardia. Mome Kardia is a remote patient monitoring system based on the cloud technology that could be worn around the neck.
• Asia Pacific is expected to witness substantial growth during the forecast period owing to the rising incidence rate of heart diseases and growing manufacturing outsourcing in the region
• According to the Government of India, the prevalence of heart failure in the nation due to hypertension, obesity, coronary heart disease, obesity, rheumatic heart disease, diabetes ranges from 1.3 to 4.6 million and an annual incidence rate of 491,600 to 1.8 million
• As per a report published by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), people have adopted unhealthy lifestyles along with increasing stress levels, decreasing physical activity, tobacco smoking, and increasing consumption of saturated fats
• Industry players are constantly fueling the market with newer technologies or upgrading existing technology. In May 2015, CardioComm Solutions, Inc. launched HeartCheck PEN. This Bluetooth wireless connectivity pen could be connected for data acquisition with Android and Apple smartphones.
• Apart from technology innovations, many industry players are expanding their global presence by signing distribution agreements with domestic distributors. In October 2015, iNeedMD Holdings, Inc. signed a distribution agreement with Clifton Africa Ltd. This one-year distribution agreement is worth USD 1.5 million.
• Key players of the ECG equipment market include Medtronic, GE Healthcare, Philips Healthcare, Schiller AG, Nihon Kohden, CardioComm Solutions, Inc., and Johnson & Johnson.

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Medical Laser Systems Market is anticipated to positively impact industry growth over the projected phase

The global medical laser systems market is expected to reach USD 12.5 billion by 2022, according to a new report by Grand View Research, Inc. Rising demand for minimal and non-invasive procedures by patients is anticipated to be the most impact rendering driver of the market.

Increasing application of these systems for diagnostic purposes, rising geriatric population base, propelling demand for cosmetic surgeries and technological advances in pre-existing laser systems are vital factors driving the demand of this market.

Medical laser systems are being prominently applied in various branches of biology such as urology, cardiology, ophthalmology etc for the purpose of diagnosis, disease management and prevention. Augmenting cases of these disorders is expected to positively impact market growth over the forecast period.

Solid state lasers are anticipated to grow at the fastest rate during the forecast period due to higher reliability, smaller compact designs, lowered cost of purchase and prolonged life span of the systems. Diode lasers are expected to hold a significant market share owing to the introduction of next generation Optically Pumped Semiconductor Lasers (OPSLs) that provide unmatched electrical efficiency.

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Further key findings from the study suggest:

• Solid state lasers are expected to grow at the fastest rate of over 10% during the forecast period due to technological advances and increasing application in diagnostic field. Neodynium Yttrium Aluminum Garnet (Nd:Yag) and Potassium titanyl phosphate (KTP) are expected to drive growth over the forecast period.
• On the basis of application segments, urology, cardiology and gynecology are expected to be the top contributors of the medical laser systems market. Statistics provided by the WHO estimate that over 17.5 million people annually are reported with chronic cases of cardiovascular disorder that require surgical follow-up.
• North America held over 35.0% of the market in 2014 due to rising disposable income, rising geriatric population base coupled with increasing cases of age-related disorders and conditions.
• Asia Pacific is anticipated to witness lucrative growth and capture over 25.0% share of the global market by 2022. Rising disposal income, increasing awareness and volume of cosmetic surgeries, increasing incidences of diabetic retinopathy, rheumatoid arthritis and dental caries are key drivers for the medical laser systems market growth within the region.
• Eminent players of this market include IRIDEX Corp., Lumenis Ltd., Syneron-Candela, Photomedex Inc., Spectranetics Corp., Biolase Inc., Bioform Medica Inc., biolitec, and Cutera.

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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Industrial And Commercial LED Lighting Market is expected to drive demand over the forecast period

The global industrial and commercial LED lighting market is expected to reach USD 165.91 billion by 2022, according to a new report by Grand View Research, Inc. High efficiency of LED lights combined with government regulations to ban incandescent lamps is estimated to drive demand over the forecast period.

Increasing shift towards the implementation of cost effective systems is expected to proliferate demand. Concepts such as smart lighting which offer several benefits including comfort, safety and security are projected to offer lucrative growth opportunities for the industry. For instance, prevalence of various smart city schemes across the U.S. and Europe to reduce consumption of energy and peak power demand is estimated to positively impact sales.

Stringent government regulations and ban on incandescent lamps and set up of minimum efficiency standards by various governments across the globe is further estimated to propel industrial and commercial LED lighting market. For instance, Brazil has banned 60-watt+ and 100-watt incandescent lamps since 2012. Additionally, various legislative actions taken to support these systems and implementation of various energy-efficient programs are expected to be the critical parameter affecting the industry.

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Further key findings from the study suggest:

• Commercial lighting market accounted for over 50% of the overall industry in 2014. Growing demand for LED street lights across various countries including U.S., China and Germany is expected to foster growth. Further, increasing construction of commercial buildings across the globe will impel demand.
• Industrial segment is expected to witness considerate growth over the next seven years. High pressure to reduce operational and maintenance cost in industries and growing demand for less energy consumption are driving growth across this application.
• Architectural LED lighting industry accounted for over 30% of the revenue in 2014 and is expected to witness strong growth, owing to the declining average price and continuous improvement in luminous efficiency of white light.
• Asia Pacific demand share exceeded 40% in 2014. Increasing construction of office spaces, commercial buildings, and retail stores across countries in Asia Pacific such as Australia, China and India is estimated to drive the demand for general lighting.
• Growing energy consumption is estimated to surge demand for efficient lighting technology over the next seven years. LED lights are environment friendly as it does not emit harmful gases resulting in hazardous disorders. It offers varied benefits such as high reliability, brightness, condensed size and longer life span over incandescent lamps which are projected to contribute to revenue growth.
• Notable companies comprise GE Lighting, Philips Electronics, Toshiba Corporation, Cree Inc, and Osram Opto. The company’s focus on extending the range of products and services to optimize vertical integration.

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Growing demand for Naphtha Market is expected to subsequently bolster mandate over estimated period

Global naphtha market size was 270.7 million tons in 2014 and is anticipated to grow at a CAGR of 3.4% from 2015 to 2022. Increasing global demand for transportation fuel is expected to drive growth. Demand is also being driven by its robust use for hydrocarbon cracking process in the petrochemical industry.

Naphtha is an essential part of hydrocarbon cracking process, which is conducted under extreme pressure and heat, as it exhibits superior heat resistant properties. Various environmental regulations and region dependent pricing also make the choice for usage of naphtha materials in the production process. The global demand is estimated to be worth USD 183.38 billion by 2022.

Chemical feedstock was the largest application of naphtha accounting for 65% of the total market share in 2014 and is anticipated to grow at a CAGR of 7.7% over the forecast period. Chemical feedstock is used for steam cracking process which produces gasoline. Growing demand for gasoline is expected to subsequently bolster demand. Lighter grades of the product are used for petrochemical steaming process, which produces rubber, olefins, polymers and aromatics.

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Further key findings from the study suggest:

• The global market is also being driven by increasing demand of plastics in electronics, packaging and construction industries in future. Energy & fuel contributed to over 25% of the total market revenue in 2014. Rising energy & fuel consumption, particularly in Asia Pacific on account of rapid industrialization as well as expansion of cities, is anticipated to fuel growth. Increasing demand for automobiles is also anticipated to play a vital role in augmenting demand for fuel, which in turn is expected to have a positive impact on the market over the forecast period.
• Asia Pacific naphtha demand was 121.7 million tons in 2014 and is likely to witness significant gains over the forecast period. Over the past few years, the region has emerged as the largest exporting hub of petroleum products and the trend is expected to continue over the forecast period. Development of the transport and electrical sectors in the region on account of increasing trade activities coupled with adoption of technological advancement by consumers is expected to drive demand.
• The North American market has attained maturity and is expected to witness stagnant growth at a CAGR of 3.0%, in terms of volume, over the projected period. The Middle East market is characterized by consolidation of refineries, which is expected to result in local companies expanding their presence in the global market.
• CNPC, British Petroleum, Shell, Chevron and ExxonMobil together accounted for more than 50% of the global industry in 2014.These companies have a strong hold in the market on account of their efficient worldwide-distribution networks. Companies including Reliance Industries and Mitsubishi Chemical are integrated in their operations for crude oil and natural gas production which has resulted in increasing their overall economic profitability.

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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Portable Oil-Free Air Compressor Market is expected to drive demand over the projection retro

The portable oil-free air compressor market is expected to reach USD 8.54 billion by 2022, according to a new study by Grand View Research, Inc. Emergence of next-generation compressed air systems, which offer enhanced reliability and energy-efficiency is expected to drive demand over the forecast period.

Growing demand for oil-free air in purity critical applications and focus on complying with environmental regulations is estimated to fuel growth over the forecast period. Companies introducing smart compressor solutions are projected to offer lucrative opportunities for industry growth. Factors such as lower installation and maintenance cost are expected to positively impact demand.

Increasing end-user demand for enhanced air quality and reliability is projected to stimulate portable oil-free air compressor market demand. However, increasing cost of raw material can act as a challenge for the industry.

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Further key findings from the study suggest:

• Rotary air compressor market accounted for over 45% of the overall revenue in 2014. They have increasingly gained popularity and are widely used in various industries. They are most generally used in sizes from about 30 hp to 200 hp. Additionally, these compressor have low initial cost and weight, compact size, and are easy to maintain.
• Manufacturing segment is estimated to exhibit substantial growth, at a CAGR of over 3.0% from 2015 to 2022. These products are critical across the manufacturing sector as they eliminate contamination in painting and surface preparation process, helping to ensure high-quality assembly. They avoid production stoppages and replacements caused due to sludge and oil hampering the robotic operation, and help manufacturers maintain high paint quality by preventing water-based paints to come in contact with the silicones found in oil.
• Europe portable oil-free air compressor market dominated global revenue in 2014, and is expected to grow at a CAGR of over 7% from 2015 to 2022. Increasing investments in Eastern Europe combined with volatile energy pricing and regulations is estimated to offer lucrative opportunities for the industry growth across this region.
• Portable oil-free air compressor market share is occupied by companies such as Atlas Copco, Ingersoll Rand, General Electric, Chicago Pneumatic, and Bauer Group. Large manufacturing companies use these products to supply large amount of moderate-pressure air to pneumatic tools.

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Smart Elevator Market is anticipated to reach USD 30.55 billion by 2022

Global smart elevator market was estimated to be USD 10.50 billion in 2014 and is expected to witness significant growth on account of its increasing adoption in emerging economies of Asia Pacific, Middle East and Latin America. Safety, reliability and longer durability is expected to drive growth.

Increasing requirement for faster vertical mode of transportation owing to the increasing number of skyscrapers along with growing purchasing power of consumers in Brazil, China, and India is expected to fuel growth. Rising need for energy efficient systems along with controlled transportation traffic are other key parameters fueling demand. Favorable government regulations along with expeditious infrastructure development in emerging countries are also expected to result in development of the industry in the near future. The market is anticipated to reach USD 30.55 billion by 2022.

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Further key findings from the study suggest:

• Technological innovations resulting in several benefits including digital control security are also likely to contribute to growth. Better traffic management, cost efficient power consumption, and reduced waiting time for passengers are also expected to boost the market at a significant rate.
• Demand for smart elevators in new deployment solutions accounted for over 40% of the global market revenue in 2014. Increasing government spending on infrastructure development, particularly in Asia Pacific, is expected to augment growth over the forecast period.
• Elevator automation including efficient transportation and time-energy saving deployment, is expected to witness significant gains over the forecast period at a CAGR of 15.6%. Elevator access security & control contributed to account for more than 35% of the total share in 2014 and is expected to lose share to the automation segment over the forecast period.
• Maintenance accounted for less than 6% of the market share in 2014. However, it is anticipated to witness significant growth in coming years, particularly in North America and Europe owing to the existence of installed systems and high prevalence of MRO activities in the region. Stagnant economic growth of these regions is anticipated to fuel maintenance activities of smart elevators.
• Smart elevators industry for residential applications was valued at USD 2.29 billion in 2014 and is estimated to increase in the near future on account of rising disposable income and increasing demand for energy efficient alternatives. Consumer preference towards energy-efficient solutions for industrial applications is expected to propel growth in the near future at a CAGR of 15.6% over the forecast period. Rapid industrialization, particularly in Asia Pacific and Latin America, coupled with growing inclination of manufacturers towards automation is expected to result is high demand for the technology.
• In 2014, North America led the global market accounting for 42.3% of the total market revenue. Asia Pacific is expected to witness substantial growth at a CAGR of 19.0% over the projected period on account of rising urbanization, technological advancement, high purchasing power, and infrastructure development in the region. Supportive government initiatives to upgrade existing systems is anticipated to fuel the growth of the Europe industry in the near future.
• Key players include Bosch Security Systems, Schindler, Schneider Electric, Mitsubishi Electric Corporation, Kone, Otis Elevator Company, Hyundai Elevator Co. Ltd., Fujitec, and Hitachi Ltd. The industry is characterized by enhanced service facility and efficient distribution channels for manufacturers to gain an advantage over their competitors.

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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Connected Retail Market size is expected to reach USD 53.75 billion by 2022

The global connected retail market size is expected to reach USD 53.75 billion by 2022 according to a new report by Grand View Research, Inc. Increasing adoption of Internet of Things (IoT) across retail sector is expected to drive the connected retail market over the forecast period. IoT offers retailers opportunities in three important areas, the supply chain, customer experience, and new channels & revenue streams. Several retailers have successfully embraced IoT to help customers connect with the next-generation consumers, sophisticated technology, and leveraging connected devices.

Emerging retailing formats such as omni channel retailing are anticipated to fuel industry growth over the next seven years. Omni channel retailing offers a seamless and flexible shopping experience to customers by integrating and aligning channels. It creates opportunities for retailers to capture more sales and increase loyalty and brand awareness.

The widening presence of mobile devices and the expanded use of mobile networks such as e-commerce engines are expected to serve as facilitators for a unified online/offline retailing experience.

However, possibilities of unauthorized access to various IoT applications or breaking into the device connectivity system are expected to challenge the IoT connected devices industry.

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Further key findings from the study suggest:

• The hardware segment is expected to grow at a CAGR of over 19% over the forecast period. The software segment is expected to witness highest growth over the next seven years owing to increasing number of applications for retail industry. Emerging app-driven hardware and embedded software into connected devices and the capability to monetize such device features and functions may contribute to industry growth. Hardware segment comprises sensors, RFID and gateway components.
• Bluetooth LE is expected to witness substantial growth, with a CAGR of over 25% over the forecast period due to significantly low power consumption. Bluetooth Low Energy has a very low transmission frequency, which greatly improves the power consumption. Wi-Fi technology dominated the market with the revenue share of over 32% in 2014.
• Managed services segment is contributed to over 40% of the overall global revenue shares in 2014. Implementing these services reduces the IT costs and enables retailers to gain the technical advantage. Retailers are increasingly outsourcing services to reduce risks and focus on its core competencies.
• Asia Pacific regional market is expected to grow at a CAGR of nearly 25% over the forecast period. Major manufacturers in the industry are based in China, owing to cheap labor and higher production capacities. Further, China is making heavy investments in IoT industry, which may contribute to market growth.
• Key industry participants include Atmel Corporation, ARM Holdings PLC, Cisco Systems, Inc., IBM, Google, Inc., Intel Corporation, NXP Semiconductors N.V.,Microsoft Corporation, PTC, Inc., Softweb Solutions, Inc., SAP AG and Zebra Technologies Corporation.

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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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North America Home Healthcare Market is anticipated to reach a value of USD 13 million by 2020

North America home healthcare market was valued at USD 756.8 million in 2014. Rising aging human population, high disposable income for healthcare expenditure, and increasing rate of target diseases are some of the key factors driving growth. Predominance of chronic diseases, and increasing diagnosis expenditure is anticipated to boost growth. 

Personalized medical assistance is a cost effective measure to control treatment expenditure and acts as major driver for the industry. According to the U.S. Bureau of Labor Statistics (USBLS), personal care and healthcare assistance in a home-setting environment is anticipated to reach a value of USD 13 million by 2020, an increase of 70% from 2010 to 2020. 

The home healthcare industry is anticipated to be majorly driven by the huge aging population volume which is highly prone to various diseases such as venous stasis ulcers, diabetic ulcers, and pressure ulcers. According to WHO, the global volume of population falls under the age group of 60 years and above has reached 841 million in 2014 and is expected to reach 2 billion by 2050. Therefore, rising global aging-population along with the statistics that approximately 70% of home healthcare patients belong to 65 years and above age group, is anticipated to fuel demand in the near future.

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Further key findings from the study suggest:

• Wound care accounted for 65% of the global market revenue in 2014. Substantial demand for wound closures, wound care dressings, and wound cleanser has resulted in the dominance of the segment over the past few years and this trend is expected to continue over the forecast period. Wound infection is a key safety concern for medical professionals and patients, thus the market is anticipated to fuel the demand as it compelled to reduce the infection rates. Wound care products improve the overall health of patients affected from various disorders such as, diabetic ulcers, pressure ulcers and venous stasis ulcers, therefore creating strong need for these products in the industry. 
• Rising number of geriatric patients with growing awareness about personal safety and hygiene is further expected to intensify home healthcare service demand in the North America. Mattress overlays and wound care together are projected to capture more than 85% of the overall market share by 2022.
• Home care service dominated the global industry accounting for 32.0% in 2014 owing to rising number of geriatric patients. This service provides several benefits such as personalized care, familiar surroundings, and low treatment cost. On the other hand, durable medical equipment (DME) which includes mobility support is anticipated to witness attractive growth in the coming years owing to their increasing utilization for long term medical care coupled with provision of favorable repayment facility on these devices. 
• The U.S. lead the home healthcare market in North America with more than 80% share. Large base of aging population, growing healthcare infrastructure and high purchasing power are some of the key factors driving growth. Moreover, favorable government initiatives aimed at controlling treatment expenditure by promoting home care services is anticipated to fuel growth. According to the PRB (Population Reference Bureau), at present, approximately 50 million citizens of North America are over 65 years and the number is projected to reach to 89 million by 2050. 
• Major market participants in this industry include Medline Industries, Invacare, Stryker, Johnson & Johnson, Hill-Roam Holdings, Smith & Nephew, Span America, Kinetic Concepts, ConvaTec, and Molyncke HealthCare. The market is characterized by strategic alliance, innovative product launch, and mergers & acquisitions.

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Aerosol Propellants Market size is expected to reach USD 11.28 billion by 2025

The global aerosol propellants market size is expected to reach USD 11.28 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to grow owing to increasing adoption of the aerosol based household and personal care products primarily in the developing economies including China, India, Indonesia, and Thailand. applications

The aerosol propellants market growth is primarily dependent on the availability of raw materials such as natural gas and crude oil, with the prices of such gasses changing in accordance to the price of the raw materials. The pricing of aerosol propellants is dependent on the price of natural gas and crude oil that act as raw materials for the extraction of the propellants.

Increasing production of natural gas in North America and Asia Pacific is expected to drive the demand for the product over the next nine years-. Increasing technological initiatives leading to the production of advanced cans with the superior aesthetic appeal is expected to lead to a growth in demand for such cans, leading to a growing demand for propellants.

The industry is regulated by stringent laws and regulations enacted against the usage of the products in the cans. In addition, the industry is expected to benefit from the advent of various technological advancements to produce low cost, low VOCs, and low GWP products.

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Further key findings from the study suggest:

• Hydrocarbon propellants accounted for an overall share of over 81% of the volume in 2015. High demand for environment-friendly propellants coupled with the low price of the products leads to a high usage. The segment is, however, expected to lose market share owing to the advent of advanced formulations with superior performance characteristics such as stability and no interaction with the container contents.
• Personal care segment is expected to grow at a CAGR of more than 3% from 2016 to 2025 on account of growing demand for deodorants, mousses and hair sprays. The demand for the product is expected to rise on account of rising awareness regarding the use of beauty enhancing products primarily in Asia Pacific and Central & South America. Also, demand for shaving foams and hair styling products primarily on account of increased acceptance of such beauty enhancing products is likely to drive market growth.
• The market in Europe is expected to account for over 32% of the global revenue due to high demand for the cans in the household and personal care applications. High demand for the product for automotive cleaners and paints is expected to drive the demand for the product over the forecast period.
• Major manufacturers in the domain resort to high expenditures for research and development of advanced propellant formulations in a bid to increase their market share. The development of highly advanced products such as Solstice, by Honeywell International Inc., that exhibits superior properties such as non-inflammability, zero ozone depletion, and low global warming potential is expected to drive the growth.

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