PUBLISHER: Market Research Future | PRODUCT CODE: 1642430
PUBLISHER: Market Research Future | PRODUCT CODE: 1642430
Global Chemical Logistics Market Research Report Information By Services Types (Transportation Management, Warehousing and Distribution, Customs Brokerage and Compliance, Specialized Services, Value Added Services), By Chemical Type (Basic Chemicals, Specialty Chemicals, Agrochemicals, Pharmaceutical Chemicals, Petrochemicals, Other Types), by End-Use (Agriculture, Pharmaceuticals, Manufacturing, Oil and Gas, Food and Beverage, Consumer Goods, Other End-Use) and by Region (North America, Europe, Asia-Pacific, South America, Middle East & Africa (MEA)) Forecast Till 2032
In 2023, the Chemical Logistics Market was valued at USD 273.50 billion. The Global Chemical Logistics industry is expected to increase from USD 282.70 billion in 2024 to USD 388.13 billion by 2032, with a compound annual growth rate (CAGR) of 4.04% for the forecast period (2024-2032).
The Chemical Logistics Market is being driven by increased commerce and industrial output, growing need for chemicals in numerous industries, and rising demand in certain sectors (for example, pharmaceuticals).
The chemical logistics market, both in terms of revenue and growth rates, is expected to see considerable expansion soon as the demand for chemicals in other industries increases. This need is fueled by the increasing use of chemicals in industries such as pharmaceuticals, agriculture, fast food, construction, and automotive, all of which have an impact on the growth of chemical logistics.
The thriving pharmaceutical business, for example, requires a consistent supply chain of chemicals and other raw materials to function. It should be emphasized that the pharmaceutical business has seen a significant increase in demand for active pharmaceutical ingredients (APIs) and excipients, particularly following the COVID-19 epidemic.
Market Segment insights
The Chemical Logistics (3PL) market was divided into five service types: transportation management, warehousing and distribution, customs brokerage and compliance, specialized services, and value-added services.
The market is divided into six segments based on chemical type: basic chemicals, specialty chemicals, agrochemicals, pharmaceutical chemicals, petrochemicals, and others.
The market is divided into end-use segments such as agriculture, pharmaceuticals, manufacturing, oil and gas, food and beverage, consumer goods, and others.
Regional insights
North America is the largest regional market for chemical logistics, owing to its massive industrial base and established infrastructure. In 2023, the market was valued at USD 101.47 billion, with estimates of USD 104.32 billion in 2024 and USD 137.01 billion by 2032. The region is predicted to develop at a CAGR of 3.47% between 2024 and 2032. This rise is being driven by strong demand for chemicals in industries such as manufacturing, oil and gas, medicines, and consumer goods. The United States is a key hub for chemical manufacturing and consumption, necessitating sophisticated logistics systems to manage the volume and complexity of chemical exports.
Europe is another important market for chemical logistics, with a well-established chemical sector and strict regulatory norms. The market size was USD 66.79 billion in 2023, and it is expected to expand to USD 68.64 billion in 2024 and USD 89.89 billion by 2032, at a CAGR of 3.43% from 2024-2032. Chemical logistics demand in Europe is driven by key industries such as pharmaceuticals, automotive, and manufacturing, all of which require chemical transportation that is dependable and efficient. Germany, Europe's largest chemical producer, together with France, the United Kingdom, and Italy, are important players in the market.
Maersk Logistics, Expeditors, CH Robinson, Kerry Logistics, DP World Logistics, Hellmann Worldwide Logistics, Agility Logistics, Kuehne + Nagel, DSV, Geodis, and GXO are among the chemical logistics market's key players.