Press release
Strong Growth Ahead: Chemical Logistics Market Size To Grow At Arecord 5.8% Cagr By 2029
Chemical Logistics
How Big Is the Chemical Logistics Market Size Expected to Be by 2034?
In recent times, the size of the chemical logistics market has seen consistent growth. The market size, which stands at $294.16 billion in 2024, is forecasted to increase to $305.83 billion in 2025, indicating a compound annual growth rate (CAGR) of 4.0%. Factors such as the surge in industrialization, expansion of globalization, compliance with regulations, and the optimization of supply chains have contributed to the growth experienced in the historic period.
In the coming years, the chemical logistics market is predicted to witness considerable growth, anticipating to reach $382.93 billion in 2029 with a 5.8% compound annual growth rate (CAGR). The projected growth during the forecast period can be credited to several factors such as sustainability efforts, the integration of digitalization and IoT, advanced analytical approaches, fluctuations in market demand, and the surge of e-commerce. Noteworthy trends expected within the prediction period involve environmentally-friendly logistics, the emergence of autonomous vehicles, the application of blockchain technology, the resilience of supply chains, and the inclusion of 3D printing in manufacturing.
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What Are the Emerging Segments Within the Chemical Logistics Market?
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
Subsegments:
1) By Transportation And Distribution Services: Road Transport, Rail Transport, Sea Freight, Air Freight
2) By Storage And Warehousing Services: Bulk Storage, Temperature-Controlled Storage, Hazardous Material Storage
3) By Customs And Security Services: Customs Clearance, Security Inspections, Regulatory Compliance
4) By Green Logistics Services: Eco-friendly Transportation Solutions, Waste Management Services, Carbon Footprint Reduction Initiatives
5) By Consulting And Management Services: Supply Chain Optimization, Risk Management, Regulatory Consulting
6) By Other Services: Packaging Services, Inventory Management, Value-Added Services
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What Long-Term Drivers Are Shaping Chemical Logistics Market Trends?
The growth trajectory of the chemical logistics market is expected to be propelled by the surging production of chemicals. This uptick in production to meet the demands of diverse sectors like food processing, pharmaceuticals, automobile manufacturing, and engineering prompts a growing requirement for safe and efficient transportation and delivery services. Data from the American Chemistry Council illustrates this trend, demonstrating a 1.4% increase in US chemical volumes in 2021, a further 3.2% increase in 2022, alongside a rise in shipments by 8.1% in 2021 and 8.2% in 2022. Additional figures from the Indian government indicate a robust 18-23% revenue boost in the country's chemical sector, including fertilizers and pharmaceuticals, in FY2022. Predictions suggest this sector will widen to USD 304 billion by 2025 at an annual growth rate of 9.3%. Consequently, the accelerating production of chemicals is fuelling the expansion of the chemical logistics market.
Who Are the Top Competitors in Key Chemical Logistics Market Segments?
Major companies operating in the chemical logistics market include A&R Logistics LLC, Deutsche Post DHL Group, CH Robinson Worldwide Inc., 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.
What Chemical Logistics Market Trends Are Gaining Traction Across Different Segments?
Leading corporations in the chemical logistics realm are turning their attention toward the creation of groundbreaking strategies such as chemical logistics centers to boost operational effectiveness and elevate service provision. Chemical logistics centers are specially designed facilities that handle the safe storage, processing, and transport of chemical commodities. To illustrate, GWC Logistics, a company based in Qatar, opened a cutting-edge chemical logistics center in Doha's industrial sector in December 2023. The center, spanning 16,000 square meters, is equipped to serve a range of sectors like manufacturing and automotive, offering specialized storage for hazardous materials including gases and combustible fluids. Adhering to rigorous safety standards, the center is fitted with ATEX-certified installations and top-tier fire-fighting systems. It also promotes sustainability with features like motion-activated LED lighting and water-cooled air conditioning systems.
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Which Regions Are Becoming Hubs for Chemical Logistics Market Innovation?
Asia-Pacific was the largest region in the chemical logistics market in 2024. The regions covered in the chemical logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Chemical Logistics Market?
2. What is the CAGR expected in the Chemical Logistics Market?
3. What Are the Key Innovations Transforming the Chemical Logistics Industry?
4. Which Region Is Leading the Chemical Logistics Market?
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