The global Chemical Logistics market is estimated to record a CAGR of around 3.22% during the forecast period
Evolve Business Intelligence has published a half-cooked research report on the Global Chemical Logistics Market, 2021–2030. The global Chemical Logistics market is projected to exhibit a CAGR of around 3.22% during the forecast period of 2022 to 2030.
Evolve Business Intelligence has recognized the following companies as the key players in the global Chemical Logistics Market: BDP International, Agility, Montreal Chemical Logistics, CT Logistics, BD Trans, C.H. Robinson Worldwide Inc, Deutsche Bahn Schenker, Deutsche Post AG, Rhenus Logistics, Ryder System Inc., A&R Logistics, CEVA Logistics AG, FedEx Corp., Odyssey Logistics, and Broekman Logistics.
Market Highlights
The global Chemical Logistics market is projected to be valued at $326.93 Billion by 2030, recording a CAGR of around 3.22% during the forecast period. Chemical logistics refers to the transfer of chemical commodities from the company that produced them to consumers, with the help of a supply chain with logistics organizations’ services like warehousing and transportation. Key industries such as plastic processing, pharmaceuticals, food manufacturing, and vehicle manufacturing are reliant on some of the other types of chemicals for their production. Chemical industries provide products that make up the majority of the types of goods in today’s market. They are used to make pharmaceuticals, food, and many other everyday items.
With the escalating number of Coronavirus outbreaks over the last five years, the freight industry has seen a large amount of economic loss. This has been due to the need to quarantine areas where the virus may be present and biohazard containers for the transport of infected people, limiting the number of shipments being transported. The Chemical Logistics market is expected to see a gradual increase in the demand for safer methods of transport of infected people and biohazard disposal as public fear of the Coronavirus continues to spread.
Segmental Analysis
The global Chemical Logistics market has been segmented based on the Mode of Transportation, Services, End-Use Industry, and region.
By Mode of Transportation, the Chemical Logistics market is segmented based on Roadways, Railways, Airways, Waterways, and Pipelines. The Roadways and Waterways Segment is anticipated to account for the large market share.
Based on Services, the Chemical Logistics market is segmented based on Transportation & Distribution, Storage & Warehousing, Customs & Security, Green Logistics, and Consulting & Management Services. The Storage & Warehousing segment is expected to hold the largest market share. the adoption of the latest technological advancements in this segment helps the vendors operate efficiently.
Based on End-Use Industry the Chemical Logistics market is segmented based on Chemical Industry, Pharmaceutical Industry, Cosmetics Industry, Oil & Gas Industry, Specialty Chemicals Industry, and Food. The Oil & Gas Industry segment is expected to hold the largest market share. The rise in oil production has been a driving force behind the increased transportation of oil across the globe.
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Regional Analysis
The Chemical Logistics market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. The North American region is projected to dominate the global Chemical Logistics market due to the presence of major players in the region and the large consumption the companies in the region have. However, due to increased government expenditure on R&D activities in developing countries and the shifting of manufacturing bases to countries like India and China, Asia-Pacific is expected to outstrip all other areas by clocking the highest CAGR. The Chemical Logistics business in Europe has been consistently growing. There is a well-established logistics company in the region, which uses ecological and sustainable practices. Latin America, the Middle East, and Africa are also expected to grow at a rapid pace in the forecast period. Saudi Arabia is the major contributor to this region as it possesses a large number of oil wells and has been investing heavily in developing advanced chemical logistics infrastructure.
