Global Linear Alkylbenzene Sulfonate Market to Surpass US$ 8.33 Billion by 2025
Coherent Market Insights
Global Linear Alkylbenzene Sulfonate Market to Surpass US$ 8.33 Billion by 2025, Buoyed By Growing Demand for Household Detergents and Cleaners
SEATTLE, WASHINGTON, UNITED STATES, February 6, 2018 /EINPresswire.com/ -- The global linear alkylbenzene sulfonate (LAS) market was valued at US$ 5,142.4 million in 2016 and is expected to reach US$ 8,326.0 million by 2025, witnessing a CAGR of 5.5% over the forecast period (2017 - 2025), according to a Linear Alkylbenzene Sulfonate Market, by Application (Household Detergents and Cleaners, Dish Washing Liquids, Personal Care Products, Industrial Cleaners, and Others). Linear alkylbenzene sulfonate (LAS) is an anionic surface active agent, which is widely used in sanitizers for food contact surfaces in the food processing industry and eating establishments as well as sanitizers and disinfectants for commercial, institutional, agricultural, industrial, and public areas. LAS are widely used across industries as a surfactant due to its biodegradable properties and cost-effectiveness. Growing demand for detergents and cleaning agents in the household care, professional hygiene, and cleaning sectors is driving growth of the global LAS market. Alternatives for LAS such as methyl ether sulfate is restraining the growth of the global LAS market.
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Key Trends and Analysis of the LAS Market:
Among applications, the household detergents and cleaners segment accounted for the largest market share due to growing demand for household care products such as detergents that are less toxic, efficient, and environment-friendly, among consumers. According to the International Association for Soaps, Detergents and Maintenance Products, consumers spent US$ 33.54 billion in 2015 on household care products, which increased to US$ 33.78 billion in 2016, in Europe. Also, laundry care accounted for 47.3% and surface care for 21.2% of the total household care segment in Europe.
Key Takeaways of the Market:
According to Coherent Market Insights’ study, Asia Pacific accounted for the largest market share of 42.36% in 2016 and is expected to retain its dominance over the forecast period. This is attributed to the growing demand for anionic surfactants such as LAS for applications in household detergents, cleaners and personal care products. According to India Brand Equity Foundation (IBEF), the fast moving consumer goods (FMCGs) market is estimated to expand at CAGR of 20.6%, to reach US$ 103.7 billion by 2020. Household and personal care products constitute around 50% of the total FMCG market share. Also, according to the Associated Chambers of Commerce and Industry of India—a trade association of India—personal care products sector is expected to reach US$ 20 billion by 2025 in India. This in turn, is expected to augment growth of the LAS market in this region over the forecast period.
North America is a lucrative market, owing to the significant demand for liquid dishwashing soaps, industrial cleaners, and household detergents in the region. Moreover, the increasing demand for detergents and cleaners in the laundry care industry and cleaning services is further fuelling growth of the LAS market in this region. According to the U.S. Food and Drug Administration (FDA), 21 CFR 178.1010, LAS can be used in sanitizing solutions for food processing equipment and utensils. According to Government of Canada, average household expenditure on personal care in 2016 was US$ 1062.53.
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Key players operating in the global LAS market include BASF SE, Clariant Corporation, Croda International Plc, DowDuPont Inc., Evonik Corporation, Henkel AG & Co. KGaA, Huntsman Corporation, Galaxy Surfactants Ltd., Stepan Company, and Solvay S.A.
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