Global Linear Alkyl Benzene Market by Types, Applications, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

Global Linear Alkyl Benzene Market was valued at USD 7.2 Billion in 2016, and is expected to grow at CAGR of 4.2% over the forecast period 2020–2026. Growing personal care industry, substantial increase in the demand for cleaners , surge in the production of shale gas coupled with increasing consumer spending are factors driving the market.

Get Sample Report: https://dataintelo.com/request-sample/?reportId=92393

Increasing consumer spending coupled with flourishing cleaning industry is likely to fuel the demand over the next six years. Volatile raw material prices, however, are projected to act as a key challenge for market participants. Also, consumers, particularly in developed countries, are becoming aware about adverse effects of using synthetic detergents on the environment and are looking out for bio-based alternatives.

Protean nature of key raw materials such as kerosene and benzene put pressure on profitability of major producers. To minimize effects of volatile raw material prices, market players are paying attention to development of bio-based alternatives. Consumers are becoming aware of adverse effects of using synthetic detergents on the environment and are looking out for bio-based alternatives to LAB.

Market Trends, Drivers, Restraints, and Opportunities:

Increasing awareness regarding hygiene is surging the demand for cleaners and detergents, which in turn, is fueling the growth of the linear alkyl benzene market.
Rapid urbanization and industrialization in emerging nations is fueling the growth of the market.
Volatility in the prices of raw materials is a major factor restraining the growth of the market.
Rising preference for bio-based surfactants in developing nations due to strict regulations implemented by regulatory bodies against the use of non-biodegradable dodecylbenzene sulfonate is projected to create new growth opportunities in the market.