Global Linear Alkyl Benzene (LAB) Market
Global Linear Alkyl Benzene (LAB) Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX% during the forecast period.
Market Definition:
Linear alkyl benzene (LAB) is an organic compound that is generally produced as an intermediate while producing surfactants that use in detergent. Linear alkenes are produced by dehydrogenation of hydrotreated kerosene and high purity linear paraffin or by partial polymerization of ethylene, which is supplementary reacted with benzene in presence of a catalyst to produce linear alkyl benzenes. There has been a significant increase in the demand for linear alkyl benzene across numerous niche applications. For example, LAB is used as a fluid in underground electricity transmission cables and is also appropriate for underwater cables.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Drivers & Restraints:
Increasing demand for laundry detergents like heavy-duty laundry liquids and laundry powders are factor expected to drive the growth of the global linear alkyl benzene (LAB) market in the estimated period. Moreover, rapid industrial development, increasing demand for industrial and household cleaners, and increasing demand for linear alkyl benzene in wetting agents, ink solvents, paints, etc. are the factors that are further expected to drive the growth of the linear alkyl benzene (LAB) market in future. Furthermore, increasing demand for bio-based linear alkyl benzenes because of growing consciousness among consumers about health & hygiene is a factor expected to support the growth of the global linear alkyl benzene (LAB) market.
Nevertheless, high raw material price is a major factor that may restrain the growth of the linear alkyl benzene market during the forecast period. For example, kerosene, a derivative of crude oil is broadly used in the production of the linear alkyl benzene (LAB) which witnesses marvelous price fluctuation in the global market. Additionally, the increasing focus for the development of eco-friendly and bio-based detergents & cleaning solutions is a factor expected to create revenue opportunities for producers operating in the linear alkyl benzene (LAB) market. Also, an approach to track the untapped market by prominent producers is another factor offering worthwhile opportunities for market growth.
Market Segmentation:
The global linear alkyl benzene (LAB) market can be segmented into application and region. The linear alkyl benzene sulphonate (LAS) market is the significant application of linear alkyl benzene, as it is used broadly in laundry powders, heavy-duty laundry liquids, industrial cleaners, household cleaners, and light-duty dishwashing liquids. Among these sub-segments, the heavy-duty laundry liquids market held the largest market share of the linear alkyl benzene (LAB) market and expected to hold steady dominance during the forecast period. Also, household cleaners are expected to be the fastest-growing application segment of the linear alkyl benzene (LAB) market throughout the estimated period. Industrial cleaners constitute additional important end-use industry for LAS and thus LAB. Hasty economic development and industrial growth in developing economies are expected to force demand for industrial cleaners in the future.
Region-wise, the Asia-Pacific region dominated the global market share in 2018 and is expected to continue its dominance in the estimated period. With the rising personal care industry and increasing need for cleaners in countries, such as China, India, and Japan, the usage of linear alkyl benzene is increasing in the region. The market for the soap, washing powder and synthetic detergent industry in China has grown at an average annual rate of above 10%, in the past six years, thanks to increasing consciousness about hygiene & development in the liquid soap segment. China is becoming the largest market in terms of cosmetics & skincare products, globally. The beauty sector in the country has observed an average growth of over 5% in the past 10 years.
Similarly, growing consumerism is stimulating the demand for personal care products, which, in order, is driving the linear alkyl benzene (LAB) market in India. Currently, India is one of the largest producers of soaps in the world. The per capita consumption of toilet/bathing soap in the country is about 800 grams. Around 65% of the Indian population belong to rural areas, and the increasing disposable incomes and growth in the rural markets are making the consumers move to premium products. The above-mentioned factors are contributing to the increasing demand for linear alkyl benzene (LAB) consumption in the region, throughout the forecast period.
The objective of the report is to present a comprehensive analysis of the Global Linear Alkyl Benzene (LAB) Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Linear Alkyl Benzene (LAB) Market dynamics, structure by analyzing the market segments and project the Global Linear Alkyl Benzene (LAB) Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Linear Alkyl Benzene (LAB) Market make the report investor’s guide.
Scope of the Global Linear Alkyl Benzene (LAB) Market
Global Linear Alkyl Benzene (LAB) Market, By Application
• Linear Alkylbenzene Sulphonate (LAS)
o Heavy-duty laundry liquids
o Laundry powders
o Light-duty dishwashing liquids
o Industrial cleaners
o Household cleaners
• Others (Agricultural herbicides, ink solvent, emulsifying agent, anti-hygroscopic additives, neutrino detectors, paint industry and electric cable oil)
Global Linear Alkyl Benzene (LAB) Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Linear Alkyl Benzene (LAB) Market
• Sasol Limited
• Deten Quimica S.A.
• CEPSA Química Bécancour Inc.
• Huntsman Corporation
• Jintung Petrochemical Corp., Ltd.
• Honeywell International Inc.
• Desmet Ballestra Group N.V
• ISU Chemical
• Croda International Plc.
• Reliance Industries Limited
• Ho Tung Chemical Corp.
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