Latest News- Chemical Logistics Market: Transportation is expected to lead the Service segment during 2024-2028

The Chemical Logistics Market is being driven by Growth of chemical industry

The Chemical Logistics Market is expected to grow at a CAGR of 4.36% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 67.7 billion. Blockchain technology introduces a decentralized, digitalized platform for maintaining transaction ledgers across multiple computer systems in the chemical logistics market. This system utilizes cryptographically secured records and transactions, enabling all stakeholders to possess identical copies. By eliminating the need for a central authority to manage records, blockchain technology fosters transparency, cost efficiency, and real-time information flow. In the chemical logistics sector, companies are increasingly adopting this technology to enhance supply chain efficiency and ensure heightened data security. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Service
  • Transportation
  • Warehousing
  • Others
• End-user
  • Chemical industry
  • Pharmaceutical industry
  • Speciality chemical industry
  • Others
• Mode of Transportation
  • Roadways
  • Railways
  • Airways
  • Waterways
  • Pipelines
• Geography
  • APAC
    • China
    • Japan
    • South Korea
  • North America
    • US
  • Europe
    • Germany
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growth of chemical industry
• Increased use of multimodal transportation in chemical logistics
• Growth in port infrastructure reduces dwelling time of vessels at ports

However, the market also witnesses some limitations, which are as follows:

• High cost of operations and capital-intensive business
• Technical challenges related to warehouse and storage systems
• Stringent regulations associated with chemical storage and warehousing

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Market Scope in Chemical Logistics Market Research Report

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Research Analysis Overview

The Chemical Logistics Market is experiencing significant growth due to the increasing demand for tech-driven logistics services in various industry verticals, including the specialty chemicals industry and cosmetics. However, state and federal regulations regarding the transportation and warehousing of chemicals pose challenges. Spoilage, contamination, and safety hazards are major concerns, especially for chemicals in both solid and liquid states. Tech-driven solutions, such as Agility Logistics' intelligent cloud platform and IoT devices, are helping to mitigate these risks. Collaborations between industry players and government bodies, like the American Chemistry Council and the government of India, are also driving innovation in chemical logistics. OEM shutdowns in engineering, vehicle manufacturing, pharmaceutical manufacture, food production, and chemical manufacturing can significantly impact chemical demand and transportation. The energy industry, particularly the shale gas sector, is also a significant player in the chemical logistics market. However, environmental problems and energy consumption remain challenges that must be addressed to ensure sustainable growth. Federal and state regulations play a crucial role in ensuring safety and compliance in the chemical logistics industry. These regulations cover various aspects, including transportation, warehousing, and disposal, and are essential for mitigating risks associated with chemical spills, contamination, and safety hazards. In conclusion, the chemical logistics market is a complex and dynamic industry that requires a deep understanding of regulations, technology, and industry trends. With the increasing demand for tech-driven logistics services, collaboration between industry players and government bodies, and a focus on sustainability, the future of chemical logistics looks promising.

Market Research Overview

The global air freight and logistics market encompasses the revenue generated by companies offering air freight transportation, courier services, and logistics solutions, including package and mail delivery and customs agency services. According to Technavio's market analysis, the market size is determined by the earnings of air freight and logistics service providers. This market involves the monitoring of goods in transit until their delivery, with growth being fueled by the surge in cross-border e-commerce activities. Cross-border e-commerce transactions involve consumers purchasing goods from outside their country, leading to an increase in demand for efficient and reliable air freight and logistics services.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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