Linear Alkyl Benzene (LAB) Market Size, Revenue Analysis, Industry Outlook, Forecast | Transparency Market Research

Linear Alkyl Benzene (LAB) Market

Linear Alkyl Benzene (LAB) Market: Introduction

Transparency Market Research delivers key insights on the global linear alkyl benzene (LAB) market. In terms of revenue, the global linear alkyl benzene (LAB) market is estimated to expand at a CAGR of 4.3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global linear alkyl benzene (LAB) market.

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The global linear alkyl benzene (LAB) market is broadly affected by several factors including increase in usage of linear alkyl benzene (LAB) in various applications such as heavy-duty laundry liquids, laundry powders, industrial cleaners, light-duty dishwashing liquids, and household. Rise in global demand for detergents has led to significant growth in usage of linear alkyl benzene (LAB). Increase in production and demand for industrial cleaners is expected to be the primary driver of the global linear alkyl benzene (LAB) market.

Linear Alkyl Benzene (LAB) Market: Dynamics

Linear alkyl benzene is an important component in the production of linear alkylbenzene sulfonate, which is used to produce detergents.

Production of linear alkylbenzene sulfonates takes up a major share of the global linear alkyl benzene market. Applications of linear alkyl benzene sulfonate are further divided into five subcategories: heavy-duty laundry liquids, light-duty dishwashing liquids, laundry powders, industrial cleaners, and other generic household cleaners.

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The first category, heavy-duty laundry liquids, is widely prevalent, and thus accounts for the highest share of the global linear alkyl benzene market. Due to growing development and affluence in large tracts of the world, household liquids is expected to be the fastest growing category in the linear alkyl benzene market.

Linear Alkyl Benzene (LAB) Market: Prominent Regions

In terms of region, Asia Pacific is likely to account for a large share of the global linear alkyl benzene (LAB) market during the forecast period. Asia Pacific is also predicted to emerge as one of the markets with high potential development possibilities. Rapid growth in applications such as heavy-duty laundry liquids, laundry powders, and industrial cleaners, light-duty dishwashing liquids, and household cleaners is likely to drive the market in Asia Pacific. China led the Linear Alkyl Benzene (LAB) market in Asia Pacific in 2020. Increase in demand for Linear Alkyl Benzene (LAB) in heavy-duty laundry liquids, laundry powders, industrial cleaners, light-duty dishwashing liquids, and household cleaners is driving the market in China.

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Linear Alkyl Benzene (LAB) Market: Major Players

The global Linear Alkyl Benzene (LAB) market is consolidated, with the presence of key players. Prominent players operating in the global Linear Alkyl Benzene (LAB) include CEPSA Quimica, Huntsman Performance Products, Deten Quimica, Jin Tung Petrochemicals, and Chevron Phillips Chemical Company.

Flourishing Opportunities Due to Industrialization and Rapid Urbanization

There is an increasing demand for linear alkyl benzene compounds and products manufactured from it across the globe. The global linear alkyl benzene (LAB) is majorly driven by factors such as rapid urbanization and industrial growth. The increasing demand for hygiene and cleanliness all over the world is expected to drive the global linear alkyl benzene market during the forecast period.

The rising sales of detergent cleaners, surface cleaners, powders, etc. after the rapid spread of coronavirus across the globe is driving the market growth for linear alkyl benzene (LAB) market. In addition, the global market is projected to grow as a result of the ongoing development of the industries across the globe.

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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