Global Chemical Distribution Market

Chemical Distribution Market Size, Share, Growth Analysis, By Product, By Offering, By Sales Channel, By End Use, By Region - Industry Forecast 2024-2031

Report ID: SQMIG15A2257 | Region: Global | Published Date: December, 2024
Pages: 157 | Tables: 73 | Figures: 75

Chemical Distribution Market News

  • In July 2022, NexusBioAg, a division of Univar Solutions, and MustGrow Biologics Corp. ("MustGrow"), an agricultural biotechnology company focused on providing scientifically-based biological solutions for high-value crops, have reached an exclusive marketing and distribution agreement in the Canadian canola and pulse market for TerraMGTM, a mustard-derived soil biological product. With the advent of this plant-based technology, NexusBioAg's wide range of inoculants, micronutrients, nitrogen stabilizers, and folders for the Canadian agricultural industry is further diversified and expanded.
  • In July 2022, the distribution arrangement between Calumet Specialty Products and Univar B.V., a division of Univar Solutions Inc., a multinational distributor of chemicals and ingredients as well as a producer of value-added services, has been expanded to include all of Europe. In Europe, Univar Solutions clients may now access additional Calumet products with a variety of viscosity and solvency properties in the lubricants, greases, metalworking fluids, and adhesives industries as a consequence of the arrangement.
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Global Chemical Distribution Market size was valued at USD 226.8 billion in 2022 and is poised to grow from USD 242.8 billion in 2023 to USD 404.9 billion by 2031, growing at a CAGR of 6.6% during the forecast period (2024-2031).

The global chemical distribution market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions. 'Brenntag (Germany) ', 'Univar Solutions (United States) ', 'Tricon Energy (United States) ', 'Helm (Germany) ', 'Nagase & Co. (Japan) ', 'IMCD (Netherlands) ', 'Ergon (United States) ', 'Klueber Lubrication (Germany) ', 'Clariant (Switzerland) ', 'Evonik Industries (Germany) ', 'BASF (Germany) ', 'Dow (United States) ', 'LyondellBasell (Netherlands) ', 'SABIC (Saudi Arabia) ', 'Chevron Phillips Chemical (United States) ', 'INEOS (Switzerland) ', 'Formosa Plastics (Taiwan) ', 'Sinopec (China) ', 'TotalEnergies (France) ', 'Braskem (Brazil)'

Global demand for chemicals is predicted to be driven by expansion in various end-use sectors, including automotive, pharmaceutical, and electronics, along with a significant increase in the industrial manufacturing sector. Additionally, it is anticipated that this element will favor the third-party distribution route. To acquire a competitive edge in a highly fragmented market, international distributors are implementing distinct channel tactics including product knowledge, local experience, and a robust logistical network.

Strong consumer spending power and the growing trend toward environmentally friendly infrastructure have driven the adoption of the chemical distribution market over the course of the forecast period. For instance, according to a study released in June 2019 by the American Chemistry Council, Inc., 334 new creation projects worth more than USD 204 billion were started, demonstrating a sustained increase in investment in the U.S. economy. This trend is expected to cause the manufacturing sector to increase significantly, which would then have a beneficial impact on the market as a whole. Over the 2022-2028 estimate period, the market is hampered by escalating environmental concerns. Additionally, robust growth in the industrial manufacturing sector along with expanding automotive, pharmaceutical, and electronics industries are predicted to promote further market expansion throughout the anticipated period.

In 2021, Asia Pacific assumed the position as the largest regional market, contributing more than 60% of global sales. Demand is anticipated to be driven by rising manufacturing activity and a large increase in per capita disposable income throughout the projected period. Automobile, construction, electrical, and electronics sectors are expanding, especially in nations like China, India, Malaysia, Vietnam, and Thailand. The region's chemical production is also expected to increase significantly as large businesses turn their attention to lucrative markets. Commodity compounds are expected to continue to dominate the market in the Asia Pacific, with specialty chemicals posting a higher CAGR of more than 7% from 2022 to 2028.

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Global Chemical Distribution Market

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