Chemical Logistics Market Rapid Growth, Expected to Worth $322.54 Billion | Forecast 2027

As per the report, the global chemical logistics industry was pegged at $253.71 billion in 2019, and is projected to reach $322.54 billion by 2027, growing at a CAGR of 3.9% from 2020 to 2027.

Surge in demand for chemical logistics owing to increased chemical production and rise in need for handling & distribution of dangerous chemicals drive the growth of the global chemical logistics market. However, complexities in chemical logistics, safety concerns, and poor infrastructure hamper the market growth. On the contrary, increase in tech-driven logistic services along with the rise in adoption of Internet of Things-enabled connected devices is expected to create lucrative opportunities for the market players in the future.

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Rise in demand for chemicals from industrial clients in sectors such as automotive and paints & coatings offers lucrative growth opportunities for the chemical logistics market in various countries. For instance, in August 2020, GADOT Group, a German supply chain, logistics and transport firm, expanded its warehouse capacity at its chemical logistics facility in Frankfurt, Germany. The capacity increase of almost 25% is expected to help GADOT meet growing demand from existing and new customers.

In addition, Germany is a major player in the global chemical industry export market, and accounts for 70% of the European export market. For instance, in 2017, Germany was the second largest global exporter of chemical products. Moreover, German chemical industry exports had a value of $125 billion (£107 billion) and a global market share of 9.6% in 2017.

Rise in chemical production propels growth of the chemical logistics market. In addition, need of chemical logistics for safe and secured movement of chemical products also fuels growth of the chemical logistics market. However, complexities in chemical logistics and poor infrastructure hinder the market growth. Conversely, rise of tech-driven logistics services, coupled with growth in adoption of IoT enabled connected devices is anticipated to provide remunerative opportunities to key players for the market expansion.

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COVID-19 impact analysis:

Lockdowns imposed by governments of various countries has affected the chemical logistics market as manufacturing companies across the globe have stopped manufacturing process, owing to unavailability of skilled labor and social distancing regulations. In addition, chemical logistics firms that are directly involved in movement, storage, and flow of goods has been directly affected by the COVID-19, owing to disruptions in trading activities.

By end use industry, the food segment is projected to register the highest CAGR of 7.2% during the forecast period, owing to clear and sustainable packaging, on-the-go convenience, and the rapidly growing food industry. However, the chemical industry held the largest share in 2019, contributing to nearly one-third of the global chemical logistics market, due to the increase in demand for raw chemicals and the focus of companies on domestic production of chemicals.

By mode of transportation, the roadways segment held the largest share in 2019, accounting for more than one-third of the global chemical logistics market. The top companies operating in the logistics market are forming a joint venture to expand the roadways logistics capabilities to provide chemical logistics services across various countries, which in turn, makes roadways the largest segment in the mode of transportation. However, the airways segment is projected to register the highest CAGR of 7.0% during the forecast period, due to the incorporation of new express freights for the fast transportation of pharmaceutical and healthcare products.

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By region, the market across Asia-Pacific, followed by North America, held the largest share in 2019, accounting for nearly two-fifths of the market. This is due to growing infrastructure and development of new industrial location coupled with increase in urbanization in the developing countries in the region. However, the global chemical logistics market across LAMEA is anticipated to manifest the highest CAGR of 5.9% during the forecast period. This is owing to rise in demand for chemical materials among end-users such as automotive, construction, paints & coatings, textiles, and pharmaceutical and government initiatives towards the logistics infrastructure development in the region.

Major market players

A&R Logistics
BASF
Agility
BDtrans
BDP International
Deutsche Bahn (DB) Schenker
C.H. Robinson Worldwide Inc.
Rhenus Logistics
Deutsche Post AG (DHL)
Ryder System Inc.

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