Linear Alkyl Benzene Market is Projected to Grow at a CAGR of 4% by 2030
According to ChemAnalyst report, “Linear Alkyl Benzene Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”. Linear Alkyl Benzene market witnessed a strong demand in the past five years and is projected to achieve a CAGR of 4% during the forecast period owing to its extensive utilization in the manufacturing of detergents, soaps bars, dishwashing liquids, Industrial as well as institutional cleaners and minor applications as solvent and binder in cable oil, ink industry, insulating, and electricity domains.
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Linear Alkyl Benzene is an organic compound mostly used as an intermediate in the production of surfactant linear alkylbenzene sulphonate (LAS), also known as linear alkylbenzene sulphonic acid (LABSA) which is the key ingredient for producing biodegradable detergents. About 90% of Linear Alkyl Benzene consumed globally is used for the production of detergents and cleaners for both household and industrial use. At present, UOP technology is one of the most cost-effective technology accessible therefore widely used method for the production of LAB (nearly 70%) and utilizes hydrogenated kerosene or normal paraffins as key raw materials. Almost majority of the Linear Alkyl Benzene produced is sulfonated to manufacture LABSA (Linear Alkyl Benzene Sulphonic Acid) which is the most economical surfactant available for use in detergent as well as oil soap formulations. Now, new modern technologies are being adopted by the manufacturers such as Detal Technology which not only are more efficient and sustainable processes but also optimize the use of raw material, electricity with the minimal emission and wastewater generation. Implementation of new technologies would be effective to increase the production and to meet the growing demand for biodegradable detergents in the upcoming years.
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With the sudden outbreak of COVID-19, a strong boost in the demand for industrial and household cleaners has been perceived as the pandemic shifted consumer preference strongly towards healthcare and hygiene related products. Giant manufacturers of detergent as well as cleaners across the globe such as Procter & Gamble, Hindustan Unilever (HUL) and many others have reported strong quarterly earnings due to robust demand of detergents and household cleaners amid the Covid. To maintain hygienic conditions amidst Covid pandemic, there is a huge consumption of detergents and cleaners for washing clothes thereby, a continuous incline is witnessed in the market for detergents and cleaners. Moreover, governments listed health and hygiene products under the category of essential items therefore, the majority of LAB and LABSA manufacturers remained largely operational despite lockdowns. It is expected that burst in the global demand as several economies ramp up their manufacturing units to cater to the exponential rise in consumer demand would further accelerate the market growth in the forecast period.
Region wise, Asia pacific holds the major share of global demand for Linear Alkyl Benzene market, due to the largest consumption of Linear Alkyl Benzene from China and India. Increased urbanization and government initiatives to promote better health and hygiene practices are likely to drive the surge in the demand for detergent. Chennai base TPL has announced to invest 240 crores for increasing its capacity from 120,000 to 145,000 tons per annum. CEPSA, one of the largest producers of Linear Alkyl Benzene is going to expand its capacity up to approximately 2 lakh tons per annum at Puente Mayorga, Spain which will enhance its total capacity up to 6 million tons/annum that consequently going to fuel its market in Europe in the forthcoming years.
According to ChemAnalyst report, “Linear Alkyl Benzene Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”, Major players for Linear Alkyl Benzene globally include CEPSA Quimica S.A., Deten Quimica, Fushun Petrochemical Company, Chevron Phillips Chemicals, Honeywell, Arabian Petrochemical Company, Huntsman Corporation, Reliance Industries Limited, Jingtung Petrochemical Corp., Indian Oil Corporation Ltd etc.
“Being directly linked to the FMCG industry, the Linear Alkyl Benzene market is expected to move in tandem with the population growth and growing consumer sophistication. With rising concerns over cleanliness and personal hygiene, government led various campaigns to promote wellness, well-being and welfare (WWW) of the citizens to reach Sustainable Development Goal (SDG), targeting universal water, sanitation and hygiene for all by 2030 would further support the market growth in the forecast period. Moreover, there is a trajectory rise in the demand for detergents and cleaners amid Covid crisis also expands its market across the globe and further expected to grow in the future. All these factors are likely to propel the Linear Alkyl Benzene market growth in the forecast period. With new competitors emerging across the Asian Linear Alkyl Benzene market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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