Linear alkylbenzene sulfonate (LAS) Market will likely surpass USD 9 billion by 2024

The competitive landscape of global linear alkylbenzene sulfonate market boasts of the inclusion of renowned biggies such as BASF SE, DuPont, Hansa Group AG, Clariant Corporation, Henkel AG & Co., Stepan Company, Croda International, Evonik Industries AG, and The Dow Chemical Company. Research bears testimony to the fact that this business space exhibits moderate consolidation, with major companies having accounted for around 50% of the LAS industry share in 2015. The world has been witnessing a paradigm shift in consumer lifestyles subject to their increasing disposable incomes and the subsequent upgradation in their lifestyles. In this regard, what comes forth as a point of observance is the extensive upsurge in the demand for household detergents & cleaners, personal care products, dish washing liquids, and industrial cleaners, all of which constitute the application scope of linear alkylbenzene sulfonate market.

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LAS is basically one of the most important constituents of dish washing liquids, the demand graph of which has observed a spectacular rise in the last few years. Detergents, cleaners, and other personal care products have followed a similar trend, and are likely to continue witnessing a heavy demand from the residential and food & beverage sectors. On these grounds, it has been forecast that the rise in the requirement for detergents, surfactants, soaps, dish washing liquids and the like will be directly proportional to the growth of linear alkyl sulfonate industry, which is slated to cross a revenue of USD 9 billion by 2024, with a CAGR projection of 5% over 2016-2024.

APAC LAS market is likely to observe a massive growth over the forthcoming years. Having held more than 405 of the overall market share in 2015, APAC LAS industry, in all probability is likely to chart out a lucrative growth path over the years ahead.

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This development can be credited to a plethora of factors, such as the robust economic growth of the region, increasing demand for household cleaners and detergents, and growing disposable consumer incomes. In addition, the deployment of regulatory norms with regards to industrial cleanliness and hygiene is also likely to drive the regional LAS market trends.

As per estimates, global household detergents demand amounted to around 30 million tons in 2015 and is most probably slated to cross 50 million tons by 2024, with a CAGR estimation of 6% over the forecast timeframe. The product is basically an anionic surfactant and is heavily used in detergents, owing to its superior properties such as reduced surface tension and quick stain removal. With regards to this fact, it is no novelty that household detergents and cleaners dominated the overall LAS industry size in 2015, with a revenue share of over 40%. Subject to its extensive applications, LAS market from detergents is expected to depict the fastest growth over 2016-2024.

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LAS is essentially prepared from raw material such as benzene and kerosene. The latter being a petrol derivative is an indication of the fact that global LAS industry share is likely to be directly proportional with petrochemical rates. In effect, the fluctuating prices of crude oil may slightly hinder the progress of this business sphere. However, efforts are being undertaken to develop alternate raw material substitutes to nullify the crude oil dependency, the result of which may contribute toward the growth of LAS market over the coming seven years.

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