Chemical As A Service Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033

The new report published by The Business Research Company, titled "Chemical As A Service Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the chemical as a service market size has grown steadily in recent years. It will grow from $7.64 billion in 2023 to $7.92 billion in 2024 at a compound annual growth rate (CAGR) of 3.6%. The chemical as a service market size is expected to see strong growth in the next few years. It will grow to $9.87 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.

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Reduced Chemical Consumption Drives Growth In Chemicals As A Service Market
A reduction in chemical consumption is contributing to the growth of the chemicals as a service market. A chemical is consumed when it is converted into another chemical through a chemical process. Lack of collaboration between chemical suppliers and consumers leads to unnecessarily high chemical consumption and the development of hazardous waste. Chemical leasing, which is part of the chemicals as a service paradigm, attempts to increase chemical efficiency while lowering chemical hazards and safeguarding human health. For instance, according to a report published by Department of Chemicals and Petrochemicals, an India-based government agency, utilization of installed capacity for basic major chemicals decreased from 79% in 2020 to 72% in 2021, while for basic major petrochemicals, it decreased from 89.5% to 83.6%. A reduction in chemical consumption is expected to propel the chemicals as a service market growth.

Chemicals As A Service Market Sees Growing Trend Of Strategic Partnerships
Strategic partnerships are a key trend gaining popularity in the chemical as a service market. Major companies operating in chemicals as a service are undergoing partnerships to strengthen their position in the market. For instance, in May 2022, Sphera, Chicago-based a leading global provider of Environmental, Social, and Governance (ESG) performance and risk management software, data, and consulting services, partnered with BASF Germany-based chemical company. The collaboration makes BASF's methodology and digital solution for automated product carbon footprint (PCF) calculation available in Sphera's Life Cycle Assessment (LCA) software solutions. LCAs assist businesses in better analyzing the effects of their supply chain on their overall carbon footprint and making informed decisions on their path to net zero.

The chemical as a service market covered in this report is segmented -

1) By Type: Chemical Management Services, Chemicals Leasing
2) By End User: Agriculture & Fertilizer, Water Treatment & Purification, Metal Parts Cleaning, Paint & Coatings, Industrial Cleaning, Industrial Gases, Other End Users

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Major companies operating in the chemical as a service market report are Sphera Solutions Inc., Henkel AG & Co. KGaA, Safechem Europe GmbH, CSC JÄKLECHEMIE GmbH & Co. KG, Polikem S. p. A., Diversey Holdings Ltd., Ecolab Inc., BASF SE, Haas Group International Inc., Hidrotecnik S. A., PPG Industries Inc., Quaker Chemical Corporation, The Chemours Company, Solvay SA, Dow Inc., Huntsman Corporation, Akzo Nobel NV, Clariant AG, Evonik Industries AG, Lanxess AG, Mitsubishi Chemical Corporation, Sumitomo Chemical Co. Ltd., Wacker Chemie AG, Arkema S. A., Ashland Global Holdings Inc., Croda International Plc, Eastman Chemical Company, FMC Corporation, Givaudan SA, Lonza Group Ltd.

Contents of the report:
1. Executive Summary
2. Chemical As A Service Market Report Structure
3. Chemical As A Service Market Trends And Strategies
4. Chemical As A Service Market - Macro Economic Scenario
5. Chemical As A Service Market Size And Growth
…..
27. Chemical As A Service Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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