Report ID: SQMIG20R2049
Report ID:
SQMIG20R2049 |
Region:
Global |
Published Date: December, 2024
Pages:
178
|
Tables:
99 |
Figures:
71
Chemical Logistics Market size was valued at USD 295.66 Billion in 2023 and is poised to grow from USD 307.19 Billion in 2024 to USD 417.2 Billion by 2032, growing at a CAGR of 3.9% during the forecast period (2025-2032).
The chemical logistics market growth is influenced by a dynamic environment characterized by factors that drive and restrain growth in equal measure. Growth drivers include increased demand from these sectors for chemicals such as medicines, agriculture, automotive, and energy areas, where there is a need for efficient logistics solutions to international supply chains. According to Green, growth in e-commerce and trade, with a significant emphasis on developing countries, only increases the demand for specialized chemical storage and transportation. Some technologies that are presently being developed to be used in innovation in transport, enhance efficiency, increase productivity, and safety in hazardous goods transportation include automation, digitization, and real-time tracking systems. Inspired by rising regulatory demands to address environmental issues, including stricter emission regulations and conditions for sustainability, the innovation in environmentally friendly logistics solutions, along with green technology and sustainable packaging, is gaining momentum. However, the market faces several constraints. For logistics firms, stringent legislation and standard requirements are a major issue, particularly with the handling of dangerous materials. While the issue of complex chemical supply chains, which involves heterogeneous storage and handling requirements, increases operating costs, volatile fuel prices and increasing transportation costs can squeeze margins. The stability and growth of chemical logistics also affect the increasing confrontations in the political arena, trade restriction, and disruptions of global supply chains. At the same time, the increasing needs for safe and efficient chemical transportation account for the ample opportunities present.
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Report ID: SQMIG20R2049