Chemical Distribution Market Size to Gain US$ 412.4 Billion by 2030
Chemical Distribution Market Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 to 2030
The chemical distribution market is anticipated to garner notable gains, registering a CAGR of 5.6% every year, according to a 2022 study by Precedence Research, the Canada-based market Insight Company.
The chemical distribution market is surging, with an overall revenue growth expectation of hundreds of billions of dollars within the next ten years. The market is expected to grow to US$ 412.4 billion by 2030 from US$ 251.42 billion in 2021. The report contains 150+ pages with detailed analysis.
The global chemical distribution market growth is highly influenced by the growth of the chemical industry across the globe. There are thousands of different chemicals extensively used in the different industries for the production of huge variety of products across the globe.
The chemical distribution services helps the chemical producers in the distribution of chemicals in various new and developing markets, and helps to reduce the cost of distribution. The complexities involved in the supply chain of the chemical industry has fostered the growth and development of the third-party distribution services.
The rapid growth of various industries such as construction, automotive, textile, and pharmaceuticals is propelling the growth of the global chemical distribution market. The consumption of commodity chemicals is rising exponentially in several end use industries such as consumer goods, electronics, construction, and automotive. This factor is estimated to drive the growth of the chemical distribution market in the forthcoming years.
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Crucial factors accountable for market growth are:
- Globalization of businesses
- Industry-friendly economic policies in the developing and developed markets
- Rapid urbanization and industrialization
- Excess demand for different chemicals from a huge number of industries
- Growing demand for the specialty chemicals
- Value added-services provided by the chemical distribution market players
Chemical Distribution Market Scope
|Market Size||USD 412.4 Billion by 2030|
|Growth Rate||CAGR of 5.6% from 2021 to 2030|
|Largest Market||Asia Pacific|
|Fastest Growing Market||North America|
|Forecast Period||2021 to 2030|
Chemical Distribution Report Highlights
- Based on the product, the specialty chemicals segment is expected to be the fastest-growing segment during the forecast period. The rising demand for the specialty chemicals such as coatings, adhesives, sealants, and elastomers across various industries is boosting the growth of this segment.
- Based on the end use, the construction segment held the largest market share in 2020. This is attributed to the increased urbanization and rapid industrialization in the developed and developing markets of North America, Europe, and Asia Pacific in the past years. The rising investments by the government for developing infrastructure in developing nations like China and India is further expected to foster the growth of this segment.
Chemical Distribution Market Dynamics
Drivers – The rising importance and need for achieving cost efficiency and demand among the chemical manufacturers to eliminate the complexities in the supply chain of the chemical industry is driving the growth of the global chemical distribution market. Further, rising consumption of chemicals in various end use industries is propelling the market growth.
Restraint – The rising demand for the organic products especially in the food and beverages sector is expected to hamper the growth of the global chemical distribution market. Further rising awareness regarding the negative impacts of chemicals on health and environment may hamper the consumption of various chemicals in food and beverage and consumer goods industries that may hamper the chemical distribution market to a certain level.
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Opportunities – The rising investments by the chemical manufacturers to expand production units is expected to propel the demand for the chemical distribution services. Moreover, increased value-added services provided by the distributors will open growth avenues in the upcoming future.
Challenges – Stringent government regulations on the usage of various specialty chemicals in the food and beverages and other industries is a major challenge faced by the chemical industry participants.
Asia Pacific is the leading consumer of the chemicals and hence the largest chemical distribution market across the globe. The top chemical manufacturers are increasingly adopting the chemical distribution services for penetrating into the Asia Pacific market. Asia Pacific is the home to around 60% of the global population and hence the demand for products from various industries is high in the region.
Therefore, the chemical distribution market has a huge growth potential in the Asia Pacific region. Moreover, the chemical industry contributes a significant share of 7.3% of the Asia Pacific’s GDP. Moreover, countries like China and India are the manufacturing hub and has huge demand for the chemicals. Hence, the chemical distribution market is expected to grow rapidly in the Asia Pacific region.
North America is expected to show a promising growth rate during the forecast period. This is attributed to the rising investment by the chemical industry players for expanding production capabilities. Moreover, the rapidly growing biopharmaceutical industry and automotive industry is boosting the chemical consumption, which in turn expected to drive the growth of the chemical distribution market in the region.
Some of the prominent players in the global chemical distribution market include:
- Helm AG
- Univar Inc.
- Omya AG
- Jebsen& Jessen Offshore Pte. Ltd.
- TER Group
- Barentz B.V.
- Azelis Holding S.A.
- Ashland, Inc.
- Brenntag AG
- Nexeo Solution Holding LLC
- ICC Chemicals, Inc.
Segments Covered in the Report
- Specialty Chemicals
- Specialty Resins & Polymers
- Commodity Chemicals
- Synthetic Rubber
- Plastic & Polymers
By End Use
- Automotive & Transport
- Consumer Goods
- Industrial Manufacturing
- North America
- Asia Pacific
- South Korea
- Rest of the World
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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