Global Chemical Logistics market accounted for USD 2014 Billion in 2018 and is projected to account for USD 55.47 Billion by 2026. The market is analyzed to exhibit 13.5% CAGR during the forecast period 2018 to 2026. Chemical logistics is an entire channel that deals with the planning, procurement, and implementation of different aspects and activities involved in the supply chain of the process. The chemical industry makes use of such logistics to manage resource storage and transportation to different end-users.
Chemical Logistics Market Dynamics
The global Chemical Logistics market is driven owing to the rising product safety and security concerns coupled with the significant need for uninterrupted supply and storage of chemicals across the globe. Also, the chemical traders and manufacturers are making a shift from traditional centres to high opportunity zones such as Asia Pacific and the Middle East where there is rapid demand and limited supply. However, rising attacks on cargos, fleets and ships have raised a security concern of the routes of transportation and thereby act as hindrances to the growth of the global chemical logistics market during the forecast period.
Chemical Logistics Market Insight
Asia Pacific dominates the global chemical logistics market and is closely trailed by North America, Europe and the Middle East. Country wise, the US and China are the fastest growing markets for the chemical logistics market. The largest market share of regional downstream supply of chemicals was held by China; however, the largest market share of regional upstream supply of chemicals was occupied by the Middle East region.
Chemical Logistics Market Segmentation
The global Chemical Logistics market is segmented into type of transport, service, and region. On the basis of the type of transport, the chemical logistics market is further bifurcated into rail, road, sea and pipeline. By service, the chemical logistics market is classified warehousing, and others. Based on the geography the chemical logistics market is further segregated into North America, Latin America, Europe and Asia Pacific.
Chemical Logistics Market Competitive Landscape
The major players associated with the global Chemical Logistics market are Agility, BDP International, BASF, DHL, DB Schenker, C.H. Robinson, Montreal Chemical Logistics, SABIC, Dow, and CT Logistics among others.