Linear Alkylbenzene Sulfonate Market Will Grow At 5% Cagr To Hit $9 Billion By 2024
SELLBYVILLE, Del., Nov. 27, 2017 /PRNewswire-iReach/ -- Linear Alkylbenzene Sulfonate (LAS) Market will grow exponentially over the forthcoming years, owing to the rapidly changing consumer lifestyles. Conforming to hygienic standards, people have been increasingly using detergents and cleaners to maintain cleanliness and health. LAS being one of the prominent constituents in most detergents, will help to stimulate linear alkylbenzene sulfonate industry size notably. Enhanced consumer spending capability is also slated to surge the product demand noticeably. According to Global Market Insights, Inc., "Worldwide linear alkylbenzene sulfonate market having had a revenue of USD 5 billion in 2015, will record an annual growth rate of above 5% over the years ahead."
Household detergents & cleaners was valued at over USD 2.5 billion in 2015. Additionally, the segment will observe maximum gains by 2024. Rising consumer awareness towards heath, hygiene and cleanliness has substantially stimulated the household detergents & cleaners demand in the recent years. Furthermore, surfactants are essentially required in manufacturing detergents, which shall subsequently stimulate linear alkylbenzene sulfonate market size in the coming years.
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Rapidly growing dish washing liquid demand across the globe, particularly due to positive growth indicators in the food & beverage industry is another factor boosting the global linear alkylbenzene sulfonate market size in the recent years. As dish washing liquid is essentially required in the food & beverage sector. The global food & beverage industry was approximately USD 8 trillion in 2005 and in 2015 surpassed USD 15 trillion. Furthermore, stern legislations by the FDA in maintaining hygiene in the food & beverage processing along with opening of numerous food joints in the Asia Pacific countries will positively influence the linear alkylbenzene sulfonate market size by 2024.
LAS is produced by linear alkyl benzene (LAB). Feedstock utilized in LAB manufacturing are petrochemical derivative (kerosene, benzene). Thus, wavering petrochemical price dynamics may hamper the global linear alkylbenzene sulfonate market share in the coming years. However, major companies involved in the industry ecosystem are involved in investment towards R&D for developing biodegradable product, which may reduce dependency on petrochemical feedstock will great new linear alkylbenzene sulfonate market growth avenues over the estimated timeframe.
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Asia Pacific linear alkylbenzene sulfonate market size was roughly around USD 2 billion 2015. Positive growth indicators in the regional food & beverage and personal care product business over the past few years is the major factor contributing growth in the region. North America, mainly led by the U.S. accounted for roughly around 15 of the global linear alkylbenzene sulfonate market share in 2015. Enormous customer base for cosmetics along with presence of strict legislation regarding hygiene in the regional food & beverage will boost the industry growth. Europe, primarily led by France, Germany and the UK will witness growth more than 5% over the estimated timeframe.
Browse key industry insights spread across 100 pages with 88 market data tables & 11 figures & charts from the report, "Linear Alkylbenzene Sulfonate (LAS) Market Size By Application (Dish Washing Liquids, Household Detergents & Cleaners, Industrial Cleaners, Personal Care Products), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/linear-alkylbenzene-sulfonate-LAS-market
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