Market Size of Linear Alkyl Benzene (LAB) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | < 3.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
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*Disclaimer: Major Players sorted in no particular order |
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Linear Alkyl Benzene Market Analysis
The linear alkyl benzene (LAB) market is expected to register a CAGR of less than 3% during the forecast period.
In 2020, the market was negatively impacted by the COVID-19 pandemic due to the disruption in supply chains, closures of various institutions/offices, and others. However, the demand for LAB has increased from housecleaning products, considering the increased awareness of cleanliness and hygiene. The market recovered significantly in 2021, and it is expected to grow with the pre-COVID rate during the forecast period.
- Over the medium term, the growing demand for linear alkyl benzene sulfonic acid from the detergent and cleaning industry is boosting the demand for the market studied.
- On the other side, increasing concerns over health issues and environmental regulations and the emergence of substitutes are expected to hinder market growth.
- The growing demand for bio-based LAB is likely to act as an opportunity for the market studied, during the forecast period.
- The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
