Press release
Surge In Chemical Production Drives Demand For Bulk Liquid Market Driver: A Major Catalyst in the Evolution of the Bulk Liquid Market in 2025
What combination of drivers is leading to accelerated growth in the bulk liquid market?The upsurge in chemical production and use is propelling the bulk liquid market's demand. The American Chemical Council reveals that a significant quantity of supplies are transported to the chemical industry via different routes such as rail, truck, waterborne modes, and pipelines. For example, a report from Germany's BASF SE, a chemicals corporation, projected that worldwide chemical production (excluding pharmaceuticals) will witness a rise of 2.0% in 2023. Additionally, China, the globe's largest chemical market, is expected to see its chemical production increase by 5.9%. Consequently, the elevated production and use of chemicals and associated products are anticipated to create substantial demand for bulk liquid truck transportation, thereby catalyzing the expansion of the bulk liquid market.
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What is the projected compound annual growth rate (CAGR) of the bulk liquid market from 2025 to 2034, and what factors influence it?
There has been a significant growth in the bulk liquid market over the past few years. Projections indicate that the market will expand from a value of $66.37 billion in 2024 to approximately $71.54 billion in 2025, representing a compound annual growth rate (CAGR) of 7.8%. The market's expansion during the historical period can be linked to alterations in energy usage, regulatory developments, the rise of the petrochemical industry, the broadening of global trade, and the impact of industrial revolution.
The size of the bulk liquid market is predicted to experience significant expansion in the coming years, with a projection to reach $92.26 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.6%. Factors influencing the growth during the forecast period include global economic advancement, changes in energy requirements, environmental laws, optimization of the supply chain, and the impact of market volatility. Key trends observed for the forecast period are alterations in consumer behaviour, the influence of market volatility, focus on risk management & security, infrastructural progress, and the increased demand for specialized services.
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How are the latest trends influencing the growth of the bulk liquid market?
The trucking industry is progressively adopting electronic logging devices (ELD) as a means of monitoring the operational hours of truck drivers. ELDs are a technological tool utilized by commercial motor vehicle (CMV) drivers to autorecord their driving times as well as hours of service (HOS) logs, taking note of specifics such as the vehicle's engine activity, movements, and the mileage covered. The growth in the market is augmented by the escalating digitization and deployment of telematics technology. The United States was a pioneer in employing this technology, by necessitating the use of ELD for all commercial vehicles. As per a report by Geotab Inc., a telematics solutions firm based in Canada, in July 2022, all commercial motor vehicle drivers in Canada are legally required to use ELD to document driver and vehicle operations.
What are the major segments of the bulk liquid market and their role in driving growth?
The bulk liquid market covered in this report is segmented -
1) By Liquid Type: Edible liquids, Non-Edible liquids
2) By Properties: Flammable, Non-Flammable
3) By End Use: Chemical, Dairy, Beverages, Other End Users
Subsegments:
1) By Edible Liquids: Cooking Oils, Sauces And Condiments, Juices And Beverages, Dairy Products
2) By Non-Edible Liquids: Industrial Chemicals, Fuels, Cleaning And Hygiene Products, Agricultural Chemicals
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Which regions are key players in the growth of the bulk liquid market?
Asia-Pacific was the largest region in the bulk liquids market in 2024. North America was the second largest region in the global bulk liquids market share. The regions covered in the bulk liquid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the bulk liquid market?
Major companies operating in the bulk liquid market include Florida Rock & Tank Lines, Prime Inc., Martin Transport Inc., Quality Distribution Inc., Kenan Advantage Group Inc., Apex Logistics, Tidewater Transit Co., Dupre'Logistics LLC, Eagle Transport Corp., Ruan Transportation Management Systems Inc., HeniffTransportationSystemsLLC, GroendykeTransport, Foodliner, A&RLogistics, J&M TankLines Inc., Grammer LogisticsInc., Cliff Viessman Inc., Coastal Transport Co., HermanR.Ewell Inc., CLI Transport LP, Superior Bulk Inc., Tankstar Inc., Trimac Transportation, Andrews Logistics, CCC Transportation LLC, ATOStransportes auto tanques ochoa - ATOSA, Solar Transport, Service Transport Co., Schilli Corp., Liquid Trucking
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What Is Covered In The Bulk Liquid Global Market Report?
• Market Size Forecast: Examine the bulk liquid market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the bulk liquid market for a structured understanding.
• Key Players Overview: Analyze major players in the bulk liquid market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the bulk liquid market.
• Segment Contributions: Evaluate how different segments drive overall growth in the bulk liquid market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the bulk liquid market.
• Industry Challenges: Identify potential risks and obstacles affecting the bulk liquid market.
• Competitive Landscape: Review strategic developments in the bulk liquid market, including expansions, agreements, and new product launches.
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