IMARC Group’s latest report, titled “Chemical Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global chemical logistics market size reached US$ 219.9 Billion in 2021. Chemical logistics refers to a service that involves storing and transporting chemicals to various consumer centers and companies. It helps manage resource procurement, material flow, distribution services, warehouse, and other value-added services. It aids in monitoring procurement and planning and implementing various supply chain-related activities in the chemical industry. It can also mark and label different chemicals and raw materials according to their toxicological and physicochemical nature while ensuring special care in handling, transporting, and storing them to prevent safety hazards. In recent years, chemical logistics has gained immense traction as it facilitates the transportation of hazardous substances with or without temperature controls while complying with safety standards.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Chemical Logistics Market Trends:
Rapid expansion in the chemical industry and the growing need for reliable and efficient logistics systems represent the primary factors driving the market growth. Moreover, the rising preference for automation in logistics operations is another major growth-inducing factor. Additionally, there has been a significant shift toward modernized green warehouses in the chemical sector to facilitate sustainable business operations and adapt to the constantly evolving market trends. In line with this, the surging focus on sustainable development has augmented the demand for chemical logistics solutions. Apart from this, the rising concerns about energy conservation and environmental protection have led to heavy investments in cost-effective warehousing solutions, thereby contributing to market growth. Furthermore, the leading players are utilizing green practices and smart technology to automate chemical logistics and process data with higher efficiency, accuracy, and convenience. Besides this, the increasing integration of novel technologies, such as the Internet of Things (IoT), big data analytics, intelligent sensors, and robotics, to streamline supply chain processes have propelled the market growth. Other factors, including the rising chemical production, surging concerns regarding product safety, rapid digitization, technological advancements, and ongoing research and development (R&D) activities, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 272.8 Billion by 2027, growing at a CAGR of 3.6% during 2022-2027.
- Based on the type, the market has been classified into rail, road, pipeline, sea, and others.
- On the basis of the service, the market has been segregated into transportation, warehousing, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Agility Public Warehousing Co., BDP International Inc., C.H. Robinson Worldwide Inc., DB Schenker, DHL Group, DSV Panalpina AS, FedEx Corp., Montreal Chemical Logistics, Schneider National Inc., and Univar Inc.
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