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The global linear alkyl benzene (LAB) market size is expected to reach USD 9.27 billion by 2020

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The global linear alkyl benzene (LAB) market size is expected to reach USD 9.27 billion by 2020

PR Newswire

LONDON, August 27, 2018 /PRNewswire/ -- Linear Alkyl Benzene Market Size, Share & Trends Analysis Report By Application (Heavy Duty Laundry, Laundry Powders, Washing Liquids, Industrial Cleaners, Household Cleaners), And Segment Forecasts, 2012 - 2020

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The global linear alkyl benzene (LAB) market size is expected to reach USD 9.27 billion by 2020, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.6% during the forecast period. Growing application of LAB as industrial cleaners owing to rapid industrialization in developing economies such as China, India, and Brazil. In addition, government regulations regarding restrictions on non-biodegradable materials are further providing a fillip to the market.

Increasing consumer spending coupled with flourishing cleaning industry is likely to fuel the demand over the next six years.Volatile raw material prices, however, are projected to act as a key challenge for market participants.

Also, consumers, particularly in developed countries, are becoming aware about adverse effects of using synthetic detergents on the environment and are looking out for bio-based alternatives.

Protean nature of key raw materials such as kerosene and benzene put pressure on profitability of major producers.To minimize effects of volatile raw material prices, market players are paying attention to development of bio-based alternatives.

Consumers are becoming aware of adverse effects of using synthetic detergents on the environment and are looking out for bio-based alternatives to LAB.

The LAB is primarily used for the production of linear alkyl benzene sulfonate (LAS), which is used majorly as a surfactant in industrial, household, and commercial applications.Low cost and biodegradable properties of LAS are expected to fuel demand for cleaning applications over the forecast period.

Other uses of LAB includes paint industry, ink solvents, electric cable oil, agricultural herbicides, emulsion polymerization, and as wetting agents.

Further key findings from the report suggest:
• Heavy-duty laundry emerged as the leading application segment for LAS and accounted for 31.8% of total market volume in 2013
• Growing preference towards liquids to powders in surfactants is expected to restrict the demand for LAS in heavy-duty laundry liquids in next six years
Asia Pacific emerged as the largest market in 2013. Rising usage of household durables in countries including China and India among others coupled with the infrastructural development in these countries is benefitting the overall regional market growth.
• International players establish partnerships with local industry participants to increase regional foot prints in countries such as India and China
• Major companies operating in the LAB market include CEPSA Quimica S.A., Deten Quimica, Fushun Petrochemical Company, Chevron Phillips Chemicals, Honeywell, Arabian Petrochemical Company, Huntsman Corporation, and Reliance Aromatics and Petrochemicals Pvt. Ltd.

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