Chemical Logistics Market Analysis 2024-2033 | Growth, Size, Demand, Analysis, Insights

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.

Market Overview -
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.

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Chemical Production Surge Ignites Growth In The Chemical Logistics Market
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.

Competitive Landscape -
Major companies operating 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.

Strategic Collaborations And Partnerships Drive Innovation And Connectivity In 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.

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Key Segments -

The chemical logistics market covered in this report is segmented -

1) By Services: Transportation and Distribution Services, Storage and Warehousing Services, Customs and Security Services, Green Logistics Services, Consulting and Management Services, Other Services
2) By Mode of Transportation: Roadways, Railways, Airways, Waterways, Pipelines
3) By End User: Chemical Industry, Pharmaceutical Industry, Cosmetic Industry, Oil and Gas Industry, Specialty Chemicals Industry, Food Industry, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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