PUBLISHER: The Business Research Company | PRODUCT CODE: 1620123
PUBLISHER: The Business Research Company | PRODUCT CODE: 1620123
Specialty chemical distribution involves the sourcing, storage, handling, and delivery of specialty chemicals to different end-users. These chemicals are produced in limited quantities and are known for their specific functions and performance-driven applications. Specialty chemical distribution acts as a vital link between chemical manufacturers and end-users, ensuring the efficient and safe delivery of these specialized products.
The primary products handled in specialty chemical distribution include computer-aided software engineering (CASE) tools, agrochemicals, electronics, construction materials, specialty polymers and resins, flavors and fragrances, among others. CASE refers to a range of software tools and methods aimed at supporting and enhancing various stages of software development. Services provided in this field encompass transportation, warehousing, and other logistics tailored to different sectors such as the chemical industry, pharmaceutical industry, and specialty chemical industry.
The specialty chemical distribution market research report is one of a series of new reports from The Business Research Company that provides specialty chemical distribution market statistics, including specialty chemical distribution industry global market size, regional shares, competitors with a specialty chemical distribution market share, detailed specialty chemical distribution market segments, market trends and opportunities, and any further data you may need to thrive in the specialty chemical distribution industry. This specialty chemical distribution market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The specialty chemical distribution market size has grown strongly in recent years. It will grow from $84.28 billion in 2023 to $91.13 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth observed during the historical period can be attributed to increased chemical consumption, heightened demand for a range of chemicals, expansion of floor spaces, and enhanced transparency and traceability.
The specialty chemical distribution market size is expected to see strong growth in the next few years. It will grow to $125.3 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The anticipated growth during the forecast period can be ascribed to the expanding use across different end-user industries, growing awareness and adoption of vegan products, improving living standards, increased demand for personal care items, and a rising need for chemicals. Key trends expected in this period include mergers and acquisitions, increased customization and personalization, collaborative supply chain models, and innovations in chemical formulation and product development.
The specialty chemical distribution market is expected to grow with the rising consumption of pharmaceuticals. Pharmaceuticals are medicines used to diagnose, treat, or prevent diseases in both humans and animals. The increasing demand for medications, driven by chronic disease management and the continual development of new drugs, boosts pharmaceutical consumption. Specialty chemical distribution supports the pharmaceutical industry by providing essential raw materials, ensuring a reliable supply chain, and aiding in the production of high-quality medications. For example, the European Federation of Pharmaceutical Industries and Associations reported in June 2023 that pharmaceutical production in Europe grew from EUR 323,950 million ($353,672.41 million) in 2021 to EUR 340,000 million ($371,195 million) in 2022. This rising pharmaceutical consumption is driving the expansion of the specialty chemical distribution market.
Companies in the specialty chemical distribution sector are concentrating on advanced chemical warehouse solutions to improve efficiency, safety, and regulatory compliance. These solutions focus on the safe storage and management of chemicals, adhering to regulations, and handling hazardous substances securely. For instance, in May 2023, Tricore Surfactants Technologies FZC, an agrochemicals plant based in the UAE, launched a new Dangerous Goods (DG) warehouse and a customized powder blending unit. Located at their plant in Sharjah's Hamriyah Free Zone, this facility enhances their agrochemical production capabilities. The powder blending unit has a capacity of over 10,000 Metric tons (MT) per year, allowing the company to offer tailored solutions to global customers. The DG warehouse is designed to safely store hazardous substances and meets stringent safety and environmental standards.
In June 2023, Brenntag AG, a Germany-based chemicals distribution company, acquired Shanghai Saifu Chemical Development Co., Ltd. for an undisclosed amount. This acquisition is intended to strengthen Brenntag's presence and expertise in the Chinese market, with a focus on the personal care sector. Shanghai Saifu Chemical Development Co., Ltd. is a China-based distributor specializing in personal care ingredients, including specialty chemicals, coatings, emulsion polymerization, and cleaning chemicals.
Major companies operating in the specialty chemical distribution market are Brenntag AG, Univar Solutions Inc., Celanese Corporation, Wacker Chemie AG, IMCD N.V., Azelis Group NV, H.B. Fuller Company, Jebsen & Jessen Pte. Ltd., Omya AG, ICC Industries Inc., Ferro Corporation, Elementis plc, Vantage Specialty Chemicals, Barentz International B.V., Helm AG, Stockmeier Group, Trecora Resources, Wilbur Ellis Holdings Inc., REDA Chemicals Inc., Quimidroga S.A., Houghton International Inc., ChemPoint.com Inc., Ter Group, Solvadis Deutschland GmbH, Biesterfeld AG
Asia Pacific was the largest region in the specialty chemical distribution market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the specialty chemical distribution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the specialty chemical distribution market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The specialty chemical distribution market includes revenues earned by entities by providing services such as sourcing and procurement, logistics, storage, handling and safety, packaging and labeling, technical support and consultation, and quality control and testing. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Specialty Chemical Distribution Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on specialty chemical distribution market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for specialty chemical distribution ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The specialty chemical distribution market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.