New York, July 04, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Chemical Logistics Global Market Report 2022” – https://www.reportlinker.com/p06290053/?utm_source=GNW
, CEVA Logistics, FedEx, Montreal Chemical Logistics, Schneider National Inc., Odyssey Logistics & Technology Corporation, and Univar Solutions Inc.
The global chemical logistics market is expected to grow from $251.94 billion in 2021 to $271.73 billion in 2022 at a compound annual growth rate (CAGR) of 7.9%. The chemical logistics market is expected to grow to $317.17 billion in 2026 at a CAGR of 3.9%.
The chemical logistics market consists of sales of chemical logistic services by entities (organizations, partnerships, and sole proprietors) that are used to handle and deliver chemicals effectively.Chemical logistics is a service that involves the storage and transportation of chemicals along a supply chain with special care by chemical logistics companies.
The chemical sector supplies products to almost every industry.Pharmaceuticals, food, and other everyday products are all made with chemicals, whether liquid or solid.
The chemical logistics services help to transport these compounds with extreme caution to avoid any safety risks such as contamination and spoilage.
The main types of services in chemical logistics are transportation and distribution services, storage and warehousing services, customs and security services, green logistics services, and consulting and management services.Transport and distribution services can be used to connect customers, raw material suppliers, plants, warehouses, and channel members with the help of water, rail, motor carrier, air, and pipeline.
The different modes of transportation include roadways, railways, airways, waterways, and pipelines, and are used by the chemical industry, pharmaceutical industry, cosmetic industry, oil and gas industry, specialty chemicals industry, food industry, and other industries.
Asia Pacific was the largest region in the chemical logistics market in 2021. The regions covered in the chemical logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The chemical logistics market research report is one of a series of new reports that provides chemical logistics market statistics, including chemical logistics industry global market size, regional shares, competitors with a chemical logistics market share, detailed chemical logistics market segments, market trends and opportunities, and any further data you may need to thrive in the chemical logistics industry. This chemical logistics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rise in chemical production is expected to propel the growth of the chemical logistics market going forward.An increase in the production of chemicals to supply to various industries including, food production, pharmaceutical manufacturing, automobile manufacturing, and engineering leads to a rise in the need for safe corners of transportation and distribution services.
For instance, according to the American Chemistry Council, Chemical volumes in the United States increased by 1.4% in 2021 and 3.2% in 2022, while shipments increased by 8.1% in 2021 and 8.2% in 2022. Furthermore, according to the government of India, India’s chemical sector (including fertilizers and pharmaceuticals) reached USD 178 billion in 2019 and is predicted to expand to USD 304 billion by 2025, with an annual growth rate of 9.3%. Therefore, the rise in chemical production is driving the growth of the chemical logistics market.
Collaborations and partnerships have emerged as the key trends gaining popularity in the chemical logistics market.Major players in the chemical logistic market are making partnerships and collaborations for the development of innovative and technologically advanced products.
For instance, In July 2021, Arkema S.A., a specialty chemicals and advanced materials company joined Swiss trade tech pioneer Nexxiot to digitize Arkema’s Isotank (Tank Container) and rail freight wagon fleets by using Nexxiot’s cutting-edge IoT devices and intelligent cloud platform. This partnership would provide end-to-end visibility for Arkema customers to increase quality standards and transform the whole service experience. Furthermore, in February 2021, Agility logistics, a Kuwait-based logistics provider collaborated with Shipa, a US-based digital logistics platform to launch a bonded, express road freight network that connects businesses and consumers across the GCC. This collaboration would result in a new service that would offer customers less-than-truckload (LTL) and full truckload (FTL) alternatives as well as a rapid, cost-effective way to export parcels, pallets, or containers of goods.
In April 2021, A&R Logistics, a US-based company that provides supply chain services for the chemical industry acquired Luckey Trucking for an undisclosed amount.Through this acquisition, A&R would strengthen its market leadership and increases its fleet of highly specialized tractors and trailers and also increased its depth in core services, and improved its capacity to provide end-to-end solutions to the customers.
Lucky Trucking is an Australia-based company operating in the chemical logistics industry.
The countries covered in the chemical logistics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06290053/?utm_source=GNW
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