PUBLISHER: The Business Research Company | PRODUCT CODE: 1392540
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392540
“Chemical Logistics Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on chemical logistics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for chemical logistics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The chemical logistics market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Chemical logistics is a service that involves the storage and transportation of chemicals along a supply chain with special care by chemical logistics companies. The chemical logistics services help to transport these compounds with extreme caution to avoid any safety risks such as contamination and spoilage.
The main types of services in chemical logistics are transportation and distribution services, storage and warehousing services, customs and security services, green logistics services, and consulting and management services. Transport and distribution services can be used to connect customers, raw material suppliers, plants, warehouses, and channel members with the help of water, rail, motor carrier, air, and pipeline. The different modes of transportation include roadways, railways, airways, waterways, and pipelines, and are used by the chemical industry, pharmaceutical industry, cosmetic industry, oil and gas industry, specialty chemicals industry, food industry, and other industries.
The chemical logistics market research report is one of a series of new reports from The Business Research Company that provides chemical logistics market statistics, including chemical logistics industry global market size, regional shares, competitors with a chemical logistics market share, detailed chemical logistics market segments, market trends and opportunities, and any further data you may need to thrive in the chemical logistics industry. This chemical logistics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The chemical logistics market size has grown steadily in recent years. It will grow from $286. 85 billion in 2023 to $299. 59 billion in 2024 at a compound annual growth rate (CAGR) of 4. 4%. The growth in the historic period can be attributed to rise in industrialization, increased globalization, regulatory compliance, supply chain optimization.
The chemical logistics market size is expected to see steady growth in the next few years. It will grow to $362. 58 billion in 2028 at a compound annual growth rate (CAGR) of 4. 9%. The growth in the forecast period can be attributed to sustainability initiatives, digitalization and iot integration, advanced analytics, market demand fluctuations, e-commerce growth. Major trends in the forecast period include green logistics, autonomous vehicles, blockchain adoption, resilient supply chains, 3d printing in manufacturing.
The rise in chemical production is expected to propel the growth of the chemical logistics market. An increase in the production of chemicals to supply to various industries, including food production, pharmaceutical manufacturing, automobile manufacturing, and engineering, leads to a rise in the need for safe corners of transportation and distribution services. For instance, according to the American Chemistry Council, Chemical volumes in the United States increased by 1. 4% in 2021 and 3. 2% in 2022, while shipments increased by 8. 1% in 2021 and 8. 2% in 2022. Furthermore, according to the government of India, India's chemical sector (including fertilizers and pharmaceuticals) showcased a 18-23% revenue growth in FY2022 and is predicted to expand to USD 304 billion by 2025, with an annual growth rate of 9. 3%. Therefore, the rise in chemical production is driving the growth of the chemical logistics market.
The growing petroleum industry is expected to drive the growth of the chemical logistics market going forward. Petrochemicals are a key component of the chemical industry and many chemicals are derived from petrochemical feedstocks. These chemicals are used in a wide range of industries including pharmaceuticals, plastics, textiles, agriculture, and more. A thriving petroleum industry leads to an increased demand for the transportation and distribution of these chemicals to manufacturers. In the first half of 2022, exports of U. S. petroleum products grew by 11%, equivalent to an increase of 596,000 barrels per day (b/d), when compared to the same period in 2021. Therefore, growth in the petroleum industry is expected to generate high demand for the chemical logistics market.
Collaborations and partnerships have emerged as the key trends gaining popularity in the chemical logistics market. Major players in the chemical logistic market are making partnerships and collaborations for the development of innovative and technologically advanced products. For instance, In July 2021, Arkema S. A., a specialty chemicals and advanced materials company joined Swiss trade tech pioneer Nexxiot to digitize Arkema's Isotank (Tank Container) and rail freight wagon fleets by using Nexxiot's cutting-edge IoT devices and intelligent cloud platform. This partnership would provide end-to-end visibility for Arkema customers to increase quality standards and transform the whole service experience. Furthermore, in February 2021, Agility logistics, a Kuwait-based logistics provider, collaborated with Shipa, a US-based digital logistics platform, to launch a bonded, express road freight network that connects businesses and consumers across the GCC. This collaboration would result in a new service offering customers less-than-truckload (LTL) and full truckload (FTL) alternatives and a rapid, cost-effective way to export parcels, pallets, or goods containers.
Major chemical logistics companies are focusing development of artificial intelligence (AI) for the safety management of chemicals. AI refers to the development of computer systems or machines that can perform tasks that typically require human intelligence. These tasks may include learning, reasoning, problem-solving, understanding natural language, speech recognition, visual perception, and more. AI-powered predictive maintenance systems can monitor the condition of equipment and vehicles used in chemical logistics. For example, in May 2023, Rinchem Company, LLC, a US based provider of chemical supply chain solutions, announced the implantation of OneTrack. AI technology, to detect, record, and prevent risky behaviors and accidents in chemical logistics. OneTrack. AI is a U. S. -based Artificial Intelligence technology company that works with leading logistics providers, manufacturers, and retailers to increase safety, productivity, and quality in their warehouses.
In April 2021, A&R Logistics, a US-based company that provides supply chain services for the chemical industry, acquired Luckey Trucking for an undisclosed amount. Through this acquisition, A&R would strengthen its market leadership, increase its fleet of highly specialized tractors and trailers, increase its depth in core services, and improve its capacity to provide end-to-end customer solutions. Lucky Trucking is an Australia-based company operating in the chemical logistics industry.
Major companies operating in the in the chemical logistics market report are A&R Logistics LLC, Deutsche Post DHL Group, CH Robinson Worldwide Inc., Baltimore, Detroit and Philadelphia Line, Rhenus Logistics LLC, Deutsche Bahn AG, BASF SE, Ryder System Inc., CEVA Logistics LLC, FedEx Corporation, Montreal Chemical Logistics, Schneider National Inc., Odyssey Logistics & Technology Corporation, Univar Solutions Inc., Bd Trans-Logistics Sp. z o. o., Henus Logistics LLC, Kuehne + Nagel International AG, DACHSER SE, DHL Global Forwarding Pte. Ltd., Expeditors International of Washington Inc., GEODIS, Hellmann Worldwide Logistics SE & Co KG, Kerry Logistics Network Limited, Nippon Express Co. Ltd., Panalpina World Transport Ltd., Sinotrans Limited, UPS Supply Chain Solutions Inc., Yusen Logistics Co. Ltd., Agility Logistics Pvt. Ltd., Damco Solutions Pvt. Ltd.
Asia-Pacific was the largest region in the chemical logistics market in 2023. The regions covered in the chemical logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the chemical logistics market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The chemical logistics market includes revenues earned by entities bybulk storage & transfer, flammable & temperature-controlled rooms, packaging, repackaging, relabeling, fulfillment, and transportation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.