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Linear Alkyl Benzene (LAB) Market to surpass USD 11,650.5 Mn by 2024 with Robust CAGR 4.9%, Globally

Press release   •   Apr 30, 2019 09:09 EDT

Global Linear Alkyl Benzene (LAB) Market was valued at USD 8,410.3 million in 2017 and is likely to generate a demand of USD 11,650.5 million by 2024, at a robust CAGR of 4.9% over the next seven years.

Growing demand for cleaning agents along with government regulations over the use of non-biodegradable surfactants is expected to positively impact the market. Moreover, rise in the construction activities across the globe is set to accelerate market growth over the forecast period. The years used for the assessment are as follows;

Historical year : 2014, 2015 and 2016
Base year : 2017
Forecast period: 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis are based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys and other secondary sources
Interacting with key opinion leaders of the market and developing data points based on interaction with them
Study of past trends in the market and their year on year impact on the market size and share
Analyzing the collected data points
Bridging the data points to calculate the linear alkyl benzene market and its various segments
Anticipating potential risks
Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global linear alkyl benzene market
Finalizing the overall size and share for the global linear alkyl benzene market

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OBJECTIVES:

To classify global linear alkyl benzene market into segments on the basis of application, and end-use to analyze their growth prospects individually
To analyze market trends, opportunities, drivers and restraints associated with linear alkyl benzene
Profiling key companies operating in the global linear alkyl benzene market
To study market response with respect to the mergers and acquisitions in the industry

MARKET SCOPE

The research scope for linear alkyl benzene market is as follows:

By Application
Surfactants
Non-Surfactants

By End-Use
Laundry Powder
Heavy-duty laundry liquid
Light-duty dish washing liquid
Household cleaner
Industrial cleaner
Others

By Region
North America
Europe
Asia-Pacific
Central & South America (CSA)
Middle East & Africa (MEA)

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FREE ANALYSIS

Growing health and hygiene concerns among the consumers across the globe have increased the demand for linear alkyl benzene. There has been a considerable rise in the demand for linear alkyl benzene across various niche applications. For instance, LAB is used as a fluid in underground electricity transmission cables and is also suitable for underwater cables. Additionally, rising construction spending around the world is expected to fuel the market growth over the forecast period.

Linear alkyl benzene may be defined as a family of organic compounds that appear like a colourless oily liquid. LAB is exclusively derived from petroleum based benzene and linear paraffins, and acts as a vital raw material in the manufacture of synthetic detergents. It may be converted into linear alkyl benzene sulfonate (LAS) or directly supplied to key end use industries. In addition, LAB exhibits high flash point, high light yield and optical transparency along with low radioactive impurities which expand its use in neutrino detectors as well.

Besides acting as an emulsifier and a coupling agent, linear alkyl benzene offers exceptional electrical properties, making them useful for a variety of industrial applications. Additionally, LAB can be easily dissolved, is chemically and physically stable, and offers excellent heat resistance, chemical resistance and plasticity. LAB is highly preferred due to its bio-degradable nature and low cost, thereby driving its demand.

Significant rise in the demand for industrial and household cleaning has led to the growth in consumption of LAS based surfactants for home and personal care applications such as liquid dishwashing soaps and sanitization products. Also, rapid industrialization coupled with increasing disposable income levels, particularly in China and India are expected to foster market growth over the years as consumers are ready to pay high price for premium products.

However, high volatility in the raw material prices, particularly crude oil, may hinder the market growth. Moreover, LAB has been observed to have adverse effects on human health and environment as it is not only toxic but also contributes to the permeation of pollutants into aquatic animals. Furthermore, stringent regulations regarding the use of synthetic surfactants are likely to limit market growth over the next seven years. Therefore, key market players are shifting their focus towards the development of bio-based alternatives in order to reduce the reliance on petrochemical derived linear alkyl benzene.

Some of the key companies operating in the industry include Honeywell International Inc.; Desmet Ballestra; Farabi Petrochemicals Co.; Huntsman International LLC; Cepsa; S.B.K Holding; Indian Oil Corporation Ltd.; ISU Chemical; Sasol Limited; Jintung Petrochemical Corp., Ltd.; Reliance Industries Limited; Chevron Phillips Chemical Company; SEEF Limited; Formosan Union Chemical Corp.; JXTG Nippon Oil & Energy Corporation; among others.

Available customization:

With the given market information, Ameco research offers customization's in line with the company's specific wishes. The following customization choices unit of measurement accessible for the report:
Regional and country-level analysis of the Global Linear Alkyl Benzene (LAB) Market, by end-use.
Detailed analysis and profiles of additional market players.

Few Important Points From Table of Contents

Global Linear Alkyl Benzene (LAB) Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

CHAPTER 1. Market Scope and Methodology

CHAPTER 2. Executive Summary

CHAPTER 3. Industry Analysis

CHAPTER 4. Competitive Outlook

CHAPTER 5. Global Linear Alkyl Benzene (LAB) Market Size and Forecast (2014 – 2024)

CHAPTER 6. Global Linear Alkyl Benzene (LAB) Market Size and Forecast, By Region (2014 – 2024)

CHAPTER 7. Key Players and Strategic Developments

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