The linear alkyl benzene market has seen steady growth in recent years, with its size forecasted to rise from $9.33 billion in 2023 to $9.77 billion in 2024, with a CAGR of 4.7%. Growth drivers include the growing demand for detergents and cleaning products, expanding industrial applications as a surfactant, the adoption of biodegradable detergents, rising consumer preference for eco-friendly products, and advancements in manufacturing technologies.
The linear alkyl benzene market is projected to grow steadily, reaching $11.80 billion by 2028 at a CAGR of 4.8%. This growth is supported by the increasing demand for eco-friendly products, expanding automotive and industrial sectors, technological advancements in lab production efficiency, and rising awareness of green chemicals. Trends include a shift towards bio-based labs, sustainable production practices, and the expansion of lab applications in emerging markets.
Major Driver In The Linear Alkyl Benzene Market
The increasing need for detergents and surfactants is expected to fuel the growth of the linear alkylbenzene market in the coming years. A detergent is a cleaning agent designed to remove dirt and grease from surfaces, typically composed of surfactants, which are compounds that reduce the surface tension between liquids or between a liquid and a solid, aiding in the cleaning process. The demand for detergents and surfactants is growing due to increased hygiene awareness, urbanization, rising disposable incomes, global population growth, and the need for more effective cleaning products in household and industrial sectors. Linear alkylbenzene is a key ingredient in detergents and surfactants, especially in the production of linear alkylbenzene sulfonate (LAS), a biodegradable and effective cleaning agent known for its strong degreasing and foaming properties. For instance, in June 2023, Procter & Gamble Company reported that in 2023, net sales for fabric and home care products reached $28,371 million, a 3% increase from $27,556 million in 2022, alongside an 8% growth in organic sales. Therefore, the rising need for detergents and surfactants is driving the growth of the linear alkylbenzene market.
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Linear Alkyl Benzene Market Competitive Landscape
Reliance Industries Limited, Mitsui Bussan, Indian Oil Corporation Limited, BASF SE, Saudi Basic Industries Corporation, LG Chem, Cepsa Chemicals, INEOS Group, Evonik Industries, Thai Oil, Chevron Phillips Chemical Company, Ecolab Inc., Kao Chemicals, S&P Global, Eastman Chemical Company, Huntsman Corporation, Clariant International Ltd., KLK Oleo, QatarEnergy, Haldia Petrochemicals Limited, Sasol Limited, Royal Global Energy, Chemstock
Key Linear Alkyl Benzene Market Trend
Companies in the linear alkyl benzene market are focusing on technologically advanced products, such as sustainable LAB variants, to gain a competitive edge. These products aim to reduce carbon footprints and use renewable raw materials to meet the increasing demand for eco-friendly solutions in the homecare industry. In January 2023, Cepsa Química, a chemical company based in Spain, introduced NextLab, the world’s first sustainable linear alkyl benzene. This product family offers lower greenhouse gas emissions and renewable raw materials while maintaining the same performance as traditional LAB. NextLab includes variants like NextLab-R, produced from renewable resources, and NextLab-Low Carbon, which uses alternative energy sources during production.
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Global Linear Alkyl Benzene Market Segmentation
The linear alkyl benzene market covered in this report is segmented –
1) By Type: C10-C13, C14-C17, Other Types
2) By Sales Channel: Direct Sale, Indirect Sale
3) By Application: Linear Alkylbenzene Sulfonates, Other Applications
4) By End-Use: Homecare, Industrial And Institutional Cleaning, Other End-Users
By Geography:The regions covered in the linear alkyl benzene market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the linear alkyl benzene market in 2023.
The Linear Alkyl Benzene Global Market Report 2024 furnishes information about the global linear alkyl benzene market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
