Oct 23, 2017   SOURCE: BusinessWire

Growing Demand from Detergent Industry to Boost the LAB Market | Technavio

The global linear alkyl benzene (LAB) market is expected to grow at a CAGR of more than 5% during the forecast period, according to Technavio’s latest market research.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171023006250/en/

Technavio has published a new report on the global linear alkyl benzene market from 2017-2021. (Grap ...

Technavio has published a new report on the global linear alkyl benzene market from 2017-2021. (Graphic: Business Wire)

In this market research report, Technavio covers the market outlook and growth prospects of the global linear alkyl benzene market for 2017-2021. The market is further categorized into two application segments, comprising of linear alkyl benzene sulfonate (LAS) and niche applications. The LAS segment accounted for close to 98% of the market share in 2016.

“APAC is the largest market for LAB and is estimated to be the fastest-growing geographic region during the forecast period. LAB is mostly used to manufacture LAS to produce detergents, house cleaners, fabric softeners, and soap bars. Several reasons such as industrialization, increase in disposable income, awareness about hygiene, and increasing population are fostering the global market for LAB,” says Hitesh Bhatia, a lead specialty chemicals research expert from Technavio.

Technavio’s research analysts segment the global linear alkyl benzene market into the following regions:

  • APAC
  • EMEA
  • Americas

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

LAB market in APAC

APAC is the largest market for LAB. There is high demand for LAB from the industrial and household cleaning products sector. As the population is increasing, the number of hospitals and houses is also increasing, fueling the demand for cleaning products.

As disposable income increases, purchasing ability is increasing. The need to remain healthy and demand for cleanliness plays a key role in the use of quality laundry cleaners and household cleaners. Heavy-duty laundry liquid is used for carpets, blankets, and bedsheets while light-duty laundry liquid is used for regular clothes. Also, due to high purchasing power in APAC, there is a demand for light-duty dishwashing liquids. All these factors contribute towards the growth of the LAB market in APAC.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

LAB market in EMEA

In Europe, there is an increase in renovation activities owing to high disposable income. This will lead to an increase in the demand for paints from the construction industry which will subsequently drive the LAB market in this region. The growth of the perfume industry in Europe will also drive the demand for LAB.

The increasing number of diseases and sick individuals in Africa is leading to an increase in the number of hospitals and hygienic measures. This will drive the use of cleaning products and the demand for LAB. All these factors will foster the market for LAB in EMEA.

LAB market in Americas

The Americas is expected to grow at a CAGR of 4.18% during the forecast period. Stringent government regulations for industrial cleanliness and health and hygiene are driving the demand for cleaning products. This is fostering the growth of the LAB market in the Americas.

“The perfume market in Brazil is expected to grow rapidly. More than 80% of Brazilian consumers wear perfume daily. LAB is utilized as a solvent in perfumes. As perfume manufacturing increases in Brazil, the use of solvents will also increase. This will lead to the increased use of LAB in the region,” says Hitesh.

The top vendors in the global linear alkyl benzene market as highlighted in this market research analysis are:

  • Clariant
  • Huntsman International
  • Reliance Industries
  • Chevron Phillips Chemical
  • CEPSA

Browse Related Reports:

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.