Linear Alkyl Benzene Market Overview

Linear Alkyl Benzene Market Size was valued at USD 10.5 billion in 2022. The Linear Alkyl Benzene market industry is projected to grow from USD 10.9 Billion in 2023 to USD 14.0 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.3% during the forecast period (2022 - 2030).

Linear Alkyl Benzene (LAB) is a major ingredient in the manufacturing of laundry detergents, dishwashing liquids, and other cleaning agents. It is a versatile chemical compound that is used in a wide range of industries, including cosmetics, agrochemicals, and pharmaceuticals. The global Linear Alkyl Benzene market is projected to grow significantly over the next few years, driven by increasing demand for detergents and other cleaning agents in emerging economies and the growing popularity of green detergents.

The demand for Linear Alkyl Benzene is primarily driven by the growing demand for household and industrial cleaning products. The increasing awareness about hygiene and cleanliness has led to an increase in demand for cleaning agents, which in turn is driving the demand for Linear Alkyl Benzene. Furthermore, the growing use of Linear Alkyl Benzene in agrochemicals and pharmaceuticals is also expected to drive market growth over the next few years.

Market Segmentation

Based on application, the Linear Alkyl Benzene market is segmented into detergents, industrial cleaners, and others. The detergents segment dominated the market in 2020 and is expected to continue its dominance over the forecast period. This can be attributed to the growing demand for laundry detergents and dishwashing liquids across the globe. The industrial cleaners segment is also expected to grow significantly over the next few years, driven by the increasing use of cleaning agents in the manufacturing and industrial sectors.

Based on region, the Linear Alkyl Benzene market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific dominated the market in 2020 and is expected to continue its dominance over the forecast period. This can be attributed to the growing population, increasing disposable income, and changing lifestyles in emerging economies such as India and China. The Middle East & Africa region is also expected to grow significantly over the next few years, driven by the increasing demand for detergents and cleaning agents in the region.

Recent Developments

In September 2020, CEPSA announced the launch of a new Linear Alkyl Benzene plant in Indonesia, with a capacity of 120,000 tons per year. This is expected to strengthen the company's market position in the Asia Pacific region.

In June 2021, Reliance Industries Limited announced the acquisition of 83% stake in Kemrock Industries and Exports Limited, a manufacturer of composite materials, including Linear Alkyl Benzene. This is expected to strengthen the company's product portfolio and market position in the global Linear Alkyl Benzene market.

In January 2022, ExxonMobil Corporation announced the expansion of its Singapore chemical plant, which produces Linear Alkyl Benzene. This is expected to increase the company's production capacity and meet the growing demand for Linear Alkyl Benzene in the Asia Pacific region.

Conclusion

The global Linear Alkyl Benzene market is expected to grow significantly over the next few years, driven by the increasing demand for detergents and other cleaning agents across the globe

Key Players

Sasol Ltd. (South Africa)

Clariant AG (Switzerland)

Hansa Group AG (Germany)

Croda International Plc (UK)

Honeywell International Inc (U.S.)

Desmet Ballestra Group N.V (Belgium)

Indian Oil Corporation Ltd (India)

Reliance Industries Limited. (India)

Deten Quimica S.A. (Brazil)

Huntsman International LLC (U.S.)

Chevron Phillips Chemical Company (U.S.)

PetroChina Company Limited (China)

ISU CHEMICAL. (South Korea)

Jingtung Petrochemical Corp., among others