Linear Alkylbenzene Sulfonate (LAS) Market Trend, COVID-19 Impact, Current Industry Figures With Demand By Countries And Future Growth 2024

According to new research report by Global Market Insights Inc., the global linear alkylbenzene sulfonate market is likely to surpass a valuation of $9 billion by 2024.

The LAS market is also expected to register lucrative growth owing to improving lifestyles of consumer and growth of awareness regarding the importance of personal hygiene and cleanliness.

However, despite the aforementioned trends, volatility in the prices of raw materials is expected to hamper the market growth over the projected timeframe to an extent.

Request for a Sample Copy of This Report @ https://www.gminsights.com/request-sample/detail/1500

Growing use of detergents

With respect to the application segment, growing product use in household detergents owing to improving living standards, the upliftment in customer lifestyles, and growing awareness regarding cleanliness is driving the expansion of the linear alkylbenzene sulfonate market.

LAS is extensively used to remove stains that are oily in nature from clothes since it decreases the water surface tension area. Detergent sales have witnessed a massive growth over the years. In fact, the overall demand for detergents was more than 35 million tons in 2016, this number is further projected to hit the 55 million ton mark by 2024.

Growth in the sales of detergent is classified a major driving factor for LAS market growth since the material is an integral ingredient of detergents.

Speaking of the market players, some of the prominent companies that are increasingly contributing to the global linear alkylbenzene sulfonate market share include:

Henkel
Galaxy Surfactants
Evonik
The Dow Chemical Company
DuPont
Huntsman
Croda International
Hansa Group
BASF among
Mounting dishwashing applications in the food and beverage sector

Apart from household detergents, growth is also anticipated to come from dishwashing applications. The increasing global population has further led to growth in food demand, which is subsequently proliferating the overall food and beverage sector in recent years.

The global food industry was valued for more than $15 trillion in 2016 and is anticipated to grow exponentially over the coming years. This growth in the food industry is further increasing the demand for dishwashing liquids across the world.

Dishwashing liquid lists lineal alkylbenzene sulfonate as a major ingredient, which is consequently playing a pivotal role in the growth of the linear alkylbenzene sulfonate market through 2024.

Apart from the commercial level use of dishwashing liquid, the use of LAS in housing applications is anticipated to further accelerate the LAS market growth in coming years.

Growing demand from Asia Pacific and Europe

On the regional front, the Asia Pacific linear alkylbenzene sulfonate market accounted for a massive share of the global LAS industry in 2016. Growing disposable income, increasing consumer spending trends, and improving lifestyles is a primary factor driving the LAS market growth in the region. In addition, surging population trends of Asia Pacific have further instigated the demand for domestic detergents and cosmetics, driving the overall market size over the forthcoming timespan.

Request for customization @ https://www.gminsights.com/roc/1500

Meanwhile, Europe had also been a lucrative regional avenue for LAS market in terms of growth in 2016. The industry growth in the region is primarily led by the UK, Germany, and France. The massive consumer base for personal care products as well as cosmetics is a primary growth factor of the market in the region.

Furthermore, stringent government norms regarding the maintenance of cleanliness and hygiene across countries is projected to complement the market outlook over the coming years.

The global linear alkylbenzene sulfonate market is set to observe lucrative growth over the coming years owing to growing use of the substance in products that are used across a plethora of sectors like food and beverages, cleaning, and personal care. Linear alkylbenzene sulfonates are extensively used in washing agents owing to its properties of cleaning and emulsification.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

This release was published on openPR.