Chemical logistics Market Size 2022-2030, Market Share Analysis, Growth, Trends, Covid 19 Outbreak Impact Research Report Added by Precedence Research.
The global chemical logistics market size is projected to hit USD 377.35 billion by 2030. Furthermore, the CAGR from 2022 to 2030 is positioned to be at a CAGR of 4%.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2022 to 2030.
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Chemical logistics can be defined as the transport of chemicals through the supply chain with the help of services such as warehousing and transportation provided by the logistics companies. The chemical sector is a crucial part of any business as all almost all industries relies on chemical for the manufacturing of their products. Some of the industries that depend on chemicals for the manufacturing of their end use products include pharmaceuticals, food production, processing plastics, automobile manufacturing and many others. The chemical can either be in liquid or solid form and they act as an essential element in the production of pharmaceutical products, food products, and other products. These chemical needs to be handled with care in order to avoid any hazards such as contamination and spoilage.
Crucial factors accountable for market growth are:
- Rise in demand of chemicals across diverse industry verticals.
- The surge in concerns for safe transportation of dangerous chemicals.
- The demand for implementing automation technologies and green warehousing.
- The Government across the globe is investing heavily for developing advanced chemical logistics infrastructure.
- The surge in the free trade agreement among countries and the development of trading bloc will contribute significantly in the market growth.
Driver – The surge in the use of chemicals across diverse end use industry verticals such as Chemical industry, Pharmaceutical Industry, Cosmetic Industry, Oil & Gas Industry, Specialty Chemicals Industry, Food and Others is the major factor that is expected to drive the growth of the chemical logistics market. Furthermore, the factors such as the surge in free trade agreements among countries and the development of a trade bloc between countries played a significant role in positively impacting the market growth. For instance, On February 2021, GAC (leading shipping and logistics company) signed an agreement with Qatar Free Zones Authority (QFZA) to establish a contract logistics facility and office in the Ras Bufontas Free Zone. The agreement with GAC is expected to play an important role in expanding the logistics capability at QFZA, supporting Qatar’s position as a trade hub.
Restraint – The major restraining factor that will negatively impact the growth of the Chemical Logistics Market includes the high cost involved in the transportation of chemicals by following all the safety precautions in order to avoid any uncertain events.
Opportunity – With the use of innovative technologies, the chemical finds their utility in various other industries and this will provide huge opportunities for the growth of chemical logistics market. Also, the rising demand for green warehousing will have a significant impact in the market growth.
Challenges – The major and the most important challenge faced by the chemical logistics market is the safety in transportation. As the chemicals are dangerous in nature their transportation should be handled with care in order to prevent any mishaps.
- On February 2021, Agility, a leading global logistics provider, along with its digital innovation arm Shipa, a trusted last-mile delivery and e-commerce logistics player, launched of a bonded, express road freight network for connecting businesses and consumers across the GCC.
- On 26th May, 2021 A&R Logistics, a North American supply chain service company to the chemical industry, announced that it has started the operations at its new liquid chemical transloading station in Moncks Corner, South Carolina, near Charleston. It will help clients more seamlessly manage global distribution of product.
- Asia Pacific region is expected to grow at highest CAGR during the forecast period owing to the presence of flourishing economies with rapid industrialization.
- The stringent rules and regulation regarding the safety of the workers and the environment will boost the market growth.
- The increase in the use of chemicals across diverse industry verticals will boost the market growth of the chemical logistics market.
- By Geography, LAMEA holds a significant share in the Chemical Logistics Market in terms of revenue share because of the presence of oil well and chemicals in the region.
LAMEA is witnessing the significant growth in 2021 in terms of market share owing to the presence of oil wells in the region and is expected to grow remarkable during the forecast period. Saudi Arabia is the major contributor in this region owing to the presence of large oil wells and the Government investments in developing advanced chemical logistics infrastructure. For instance, On 29th April 2021 Aramco Saudi Arabia’s state-run energy firm announced that they are transferring the marketing and sales responsibility for a number of Aramco petrochemicals and polymers products to SABIC. These changes will fuel the operational efficiencies, strengthen the brands of both companies and their combined products and services offering, and help to maintain competitiveness.
The chemical logistics market report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation, and so on.
Some of the key players in the global chemical logistics market listed areA&R Logistics, Agility, BASF, BDP International, BDtrans, C.H. Robinson Worldwide Inc., Deutsche Bahn (DB) Schenker, Deutsche Post AG (DHL), Rhenus Logistics and Ryder System Inc.
Segments Covered in the Report
By Mode of Transportation
- Transportation & Distribution
- Storage & Warehousing
- Customs & Security
- Green Logistics
- Consulting & Management Services
By End User
- Chemical industry
- Pharmaceutical Industry
- Cosmetic Industry
- Oil & Gas Industry
- Specialty Chemicals Industry
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
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