Global chemical logistics market has been in an approximation of 1.3 trillion dollars in recent years. The growth rate has been more than 13 percent in the current 5 years. With a growing demand for the green warehouses, the chemical industry has been thriving with a triggered chemical logistics market on space. The rising demand for energy conservation also gives a major attraction to most private players into the adoption of eco-friendly as well as sustainable business initiatives. This again, in turn, gives growth to the chemical logistics market.
American Chemistry Council (ACC)s Chemical Industry Situation and Outlook states U.S chemical trade has been increased further to around 7 percent with a value of 241 Billion dollars by 2017.
Chemicals Logistics Market
By 2023, the trade surplus in chemical industry is anticipated to reach $71.4 billion. Thus, growth in chemical industry would generate the need for chemical logistics since the utilization of logistics allows the chemical industry to access regular supply of both chemical distributors and suppliers from different locations across the globe.
On the basis of segmentation, the chemical logistics market is segmented into services. The service segment of global chemical logistics market is classified into transportation, warehousing and others.
The regional analysis of chemical logistics market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. Asia-Pacific holds the leading position in chemical logistics market headed by India and China owing to the growth in chemical industry along with the rising urbanization. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of Asia-Pacific region is witnessed owing to increasing disposable income and rapid industrialization. Also, growing focus to develop industrial infrastructure is also expected to supplement the growth of Asia-Pacific region over the forecast period.
The leading market players include-
Deutsche Post DHL Group
Montreal Chemical Logistics
The detailed segments and sub-segment of the market are explained below:
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