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Chemical Logistics Market Size
- Report ID: GMI10257
- Published Date: Jul 2024
- Report Format: PDF
Chemical Logistics Market Size
Chemical Logistics Market size was valued at USD 255.8 billion in 2023 and is estimated to register a CAGR of over 3% between 2024 and 2032. The market growth is driven by factors such as rising demand for specialized logistics and stringent regulatory requirements. The increasing complexity of chemical products requires specialized handling, storage, and transportation. The transportation of such hazardous chemicals requires specialized logistics services, thus driving market growth. Also, compliance with environmental and safety regulations by the government necessitates advanced logistics solutions.
For instance, in May 2024, Kuehne + Nagel upgraded its risk management systems and emergency protocols to meet the new regulations, incorporating real-time monitoring and automated alert systems for potential hazards.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Chemical Logistics Market Size in 2023: | USD 255.8 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 3% |
| 2032 Value Projection: | USD 345.1 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 240 |
| Tables, Charts & Figures: | 360 |
| Segments covered: | Service, Transportation, End Use, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The expansion of chemical production globally is a key driver for market growth. Chemical companies are increasingly focused on outsourcing logistics to focus on core activities and reduce costs. Innovations in tracking, monitoring, and automation improve efficiency and safety in chemical logistics, driving the demand for specialized logistics solutions for chemicals. For instance, in April 2024, DHL Global Forwarding introduced a new system for real-time tracking of hazardous materials, enhancing safety and compliance.
The chemical logistics market faces numerous challenges such as transportation challenges, safety & handling risks, and stringent regulatory compliance. The chemicals logistics market is highly regulated, due to safety, environmental, and health concerns. Regulations vary across regions and countries, requiring companies to navigate complex and often changing legal requirements. Handling and transporting chemicals involve significant safety risks due to their hazardous nature, which can be a hindrance in the logistics market. Also, the transportation of chemicals involves unique logistical challenges due to their hazardous nature and the need for specialized and careful handling.
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Chemical Logistics Market Scope
