BAG ON VALVE TECHNOLOGY MARKET ANALYSIS (2019-2027)
Bag-on-valve Technology Market 2017–2027
The bag on valve technology (BOV) is an advanced packaging solution that provides a controlled dosing option. Bag on valve technology composed of aerosol valve and offer superior dispensing technology. Aerosol BOV, standard BOV, and non-spray/low-pressure BOV are some of the product types of the bag on valve technology. This modern packaging solution prevents contamination of the product as it has space between can and bag, the bag is filled by propellant. Cosmetics & personal care, pharmaceuticals, home care, food & beverages, and automotive & industrial are some of the major application areas of the bag on valve technology. Aluminum, tin plate, steel, and plastic are a major product that utilizes bag on valve technology.
The global bag on valve technology market is projected to reach around US$ 503.2 million by the end of 2027, in terms of revenue, growing at CAGR of 2.9% during the forecast period (2019-2027).
Drivers
Growing awareness regarding environment-friendly packaging solutions is fueling the growth of bags on the valve technology market. BOV packaging uses aluminum as raw material which can be recycled easily with no harmful chemicals left on landfills. Moreover, BOV technology also reduces the amount of volatile organic compounds (VOCs), unlike traditional aerosols. Hence, rising awareness regarding the environment-friendly packaging solution is expected to propel the market growth of BOV.
Rising demand for contamination-free controlled dosing system from the pharmaceutical industry is anticipated to offer potential growth opportunities to the market of BOV in the years to come. The pharmaceutical industry is adopting advanced packaging technology such as BOV technology in order to offer 100% safe and clean products. BOV technology not only protects the product from contamination but also offers a controlled dosing system. Hence, the growing demand for BOV from the pharmaceutical industry is expected to foster market growth.
On basis of the region, Europe dominated the global bag on valve technology market in 2018, accounting for 33% share in terms of value, followed by North America and Asia Pacific, respectively.
Figure 1. Global Bag on Valve Technology Market, Revenue Share (%), By Region, 2018
Market Trends
The growing focus of the manufacturer to enhance the production capacity of aerosol packaging to cater to rising demand is expected to boost the market growth of bag-on-valve technology. For instance, in July 2019, US aerosol packaging company Tri-Pac has opened its new facility in Indiana. The new US$8 million, 65,000 square foot facility is set over 10 acres in the city of South Bend. The contract filling and packaging company, specializing in over-the-counter and specialty aerosols and liquids.
Increasing usage of aerosol packaging solutions home care products such as cleaners and disinfectants is expected to augment the market growth of bag-on-valve technology over the forecast period. Improving standard of living coupled with the increasing disposable income of the people is further anticipated to foster the market growth of bag-on-valve technology.
Figure 3. Global Bag on Valve Technology Market, Revenue Share (%), By Application, in 2018
On the basis of application type, in 2018, cosmetics & personal care application has accounted the largest market share of 45.2% in terms of value, followed by pharmaceutical and automotive & industrial respectively.
Figure 4. Global Bag on Valve Technology Market – Value Chain Analysis
Competitive Section
Key players operating in global bag on valve technology market Coster Tecnologie Speciali S.p.A., AptarGroup, Inc., LINDAL Group Holding GmbH, Precision Valve Corporation, KOH-I-NOOR Mlada Vozice a.s, Exal Corporation, TOYO & DEUTSCHE AEROSOL GMBH, Summit Packaging System, Inc., Chicago Aerosol LLC, and Shanghai Golden Aerosol Co., Ltd.
Few Recent Developments
TOYO & DEUTSCHE AEROSOL GMBH
- In 2015, Toyo & Deutsche Aerosol GmbH launched THE DUAL, a new and convenient luxury packaging for the cosmetics industry. It combines two pouches on one valve. Both the product can be released with one push
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