Press release
Chemical Logistics Market Size to Reach $365.24 Billion by 2029 | Growth at 4.8% CAGR Forecast
Chemical Logistics
What is the Projected Market Size of the Chemical Logistics Industry?
Over the past few years, the chemical logistics market size has experienced stable growth. The market, which will rise from $293.44 billion in 2024 to $303.06 billion in 2025, is predicted to have a compound annual growth rate (CAGR) of 3.3%. Factors such as industrialization growth, heightened globalization, regulatory adherence, and supply chain optimization can be attributed to the growth noted in the historic period.
What Will Be the Size of the Chemical Logistics Market by 2029?
The size of the chemical logistics market is predicted to experience continuous growth in the forthcoming years, reaching a value of $365.24 billion in 2029, with a compound annual growth rate (CAGR) of 4.8%. Factors contributing to this growth in the anticipated period include initiatives for sustainability, integration of digitalization and IoT, application of advanced analytics, variations in market demand, and the expansion of e-commerce. Prevailing trends during this forecast period are expected to be green logistics, the use of autonomous vehicles, adoption of blockchain technology, robust supply chains, and the application of 3D printing in production processes.
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What Are the Key Drivers Accelerating Growth in the Chemical Logistics Market?
The chemical logistics market is anticipated to expand due to the increasing production of chemicals. This surge in chemical production caters to various sectors such as food production, pharmaceuticals, automobile, and engineering, intensifying the demand for secure and efficient transportation and distribution services. For instance, the American Chemistry Council reported a 1.4% increase in chemical volumes in the United States in 2021, which heightened to 3.2% in 2022. Simultaneously, the shipments rose by 8.1% in 2021 and 8.2% in 2022. Moreover, the government of India reported a revenue growth of 18-23% in the Indian chemical sector, including fertilizers and pharmaceuticals, in FY2022. It is projected to escalate to USD 304 billion by 2025, maintaining an annual growth rate of 9.3%. Hence, the unfolding rise in the production of chemicals is bolstering the growth of the chemical logistics market.
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How Is the Chemical Logistics Market Segmented by Type, Application, and Region?
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
What Are the Key Trends Driving Growth in the Chemical Logistics Market?
Key players in the chemical logistics market are turning their focus towards the creation of inventive solutions such as chemical logistics centers, with the aim of boosting operational efficacy and improving service provision. This refers to a dedicated infrastructure designed to oversee matters related to the storage, handling, and transport of chemical products. For instance, in December 2023, Qatar's GWC Logistics inaugurated a new chemical logistics center in the industrial zone of Doha. This center, spread across 16,000 square meters, is a technologically advanced facility constructed to serve a range of industries, including manufacturing and automotive. It provides specialized storage for possibly hazardous substances like gases and inflammable liquids. It adheres to strict safety regulations, equipped with ATEX-certified installations and cutting-edge fire control systems. Furthermore, it employs sustainable methods such as motion-activated LED lights and water-cooled air conditioning.
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Who Are the Leading Companies Driving Growth in the Chemical Logistics Market?
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.
Which Is the Leading Region in the Global Chemical Logistics Market?
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
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