According to the latest report by IMARC Group, titled "Chemical Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global chemical logistics market is currently witnessing strong growth. Chemical logistics include various services that aid in transporting raw materials and final products pertaining to the chemical industry to numerous consumer centers and companies. These services aid in closely monitoring procurement while planning and implementing various supply chain-related activities. They offer comprehensive value-added solutions, along with proper management of resource procurement, material flow, distribution services, and warehouse and storage. They ensure special care in handling, transporting, and storing chemical goods to prevent safety hazards, including combustion, contamination, and spoilage. They also assist in the transportation of hazardous substances with or without temperature controls while complying with safety standards. Apart from this, carrier management, employee training courses and long-term quality checks form essential components of the logistics system.
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Global Chemical Logistics Market Trends:
The global market is primarily driven by significant growth in the chemical industry. A reliable and efficient logistics system is the most crucial component of the industry as they enable easy adaptation to the continually evolving market changes and trends. This, in turn, creates a need for efficient chemical logistics solutions, which is creating a positive outlook for the market. Apart from this, there has been an increasing requirement for modernized green warehouses in order to run sustainable business operations efficiently. This is supported by the enhanced focus on sustainable development and the growing concerns for energy conservation. Furthermore, the market is driven by the growing preference for automation across the chemical industry, including its logistics operations. As a result, several players are adopting smart technology and digital tools to facilitate functions with enhanced efficiency, productivity and convenience. They are continually integrating their systems with robotics, smart sensors and the Internet of Things (IoT) to streamline the overall supply chain processes, which is expected to drive the market further. Some of the other factors contributing to the market growth include rising concerns regarding product security and safety in the chemical industry and extensive research and development (R&D). On account of the aforementioned factors, the market is expected to register a CAGR of around 6% during 2020-2025.
Market Breakup by Type:
Market Breakup by Service:
Market Region Summary:
On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players include:
Agility Public Warehousing Company KSCP
BDP International Inc.
H. Robinson group
Deutsche Post AG
DSV Panalpina Group
Montreal Chemical Logistics
SCHNEIDER NATIONAL CARRIERS INC
Univar Solutions Inc
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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