The Chemical Distribution Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Chemical Distribution Global Market Report 2024, The chemical distribution market size has grown strongly in recent years. It will grow from $274.49 billion in 2023 to $301.57 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to industrial growth, increased global chemical trade, increased chemical manufacturing, increased regulatory compliance, growth in demand for supply chain efficiency.
The chemical distribution market size is expected to see strong growth in the next few years. It will grow to $431.15 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to growing need for sustainable chemicals, increasing adoption for e-commerce and digital platforms, increasing focus on green chemistry, global supply chain resilience, and increasing specialty and custom chemicals. Major trends in the forecast period include chemical industry innovation, technological advancements, sustainable solutions, key players’ partnerships, cutting-edge solutions launch.
The rising consumption of chemicals across various end-use industries is expected to propel the growth of the chemical distribution market. In industries like construction, various chemical compounds like concrete admixtures, polymer bonding agents, epoxy grouts, and adhesives are used. In the automotive industry, it takes about 10,000 chemicals to manufacture an automobile. An increase in the growth of these other industries is helping the chemical distribution market to grow. For instance, in June 2022, according to an article published by India Brand Equity Foundation, an India-based joint venture between the Confederation of Indian Industry, the Government of India, and the Ministry of Commerce and Industry (Cll), more than 80,000 commercial products are covered by India’s chemicals industry, which had a market value of USD 178 billion in 2018–19. Due to rising end-user demand for specialty chemicals and petrochemicals, the industry is predicted to grow at a 9.3% CAGR to reach USD 304 billion by 2025. By 2025, it is anticipated that the specialty chemicals market will be worth $40 billion. Therefore, the rising consumption of chemicals across various end-use industries will propel the growth of the chemical distribution market.
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The chemical distribution market covered in this report is segmented –
1) By Product: Specialty Chemical, Commodity Chemical
2) By Type: Pipelines, Containers, Barrels, Sacks
3) By End Use: Transportation, Construction, Agriculture, Textiles, Pharmaceuticals, Industrial Manufacturing, Other End-Users
Technological advancement are shaping the chemical distribution market. Various advancements like eco-friendly chemical compound due to its engineered chemical structure which act as a non-toxic and safe for environment agent suitable for various applications. For instance, in November 2021, Cosmo Specialty Chemicals, an Indian specialty chemicals company, developed an emulsion that is hydrophilic block silicone. When compared to other traditional non-silicone softeners, it has better softening characteristics due to its lower rotational free energy than C-O bonds. The agent is non-toxic and eco-friendly, and it may be used in a variety of applications while still having a great effect in the textile sector.
The chemical distribution market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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