Technavio, a tech-focused market research firm, has published a new report on the global chemical warehousing and storage market, which is expected to experience a moderate growth rate with a CAGR of close to 11% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global chemical warehousing and storage market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global chemical warehousing and storage market into the following key regions: APAC, Europe, North America, and ROW.
Geographical segmentation of the global chemical warehousing and storage market for 2015 (market share %)
|
APAC |
42% |
|
North America |
25% |
|
Europe |
21% |
|
ROW |
12% |
Source: Technavio
APAC: largest revenue generating region for chemical warehousing and storage
The chemical warehousing and storage market in APAC was valued at almost $3 billion in 2015 and is estimated to grow at a CAGR of over 11% by 2020. The increasing demand for chemical feedstock will help in the growth of the market in this region. The market in the APAC region is also driven by the growing urbanization and improving economic conditions. The governments in the region are undertaking initiatives to improve warehousing facilities, which has resulted in the development of various industries in the APAC market. China accounts for nearly 60% of the growth in the chemical industry in the region. Petrol-based chemicals like polypropylene, polybutylene terephthalate, polyamide, methylene diphenyl isocyanate, and polycarbonate are used in various industries across APAC.
“Vendors in the market are taking various measures to avoid the risks associated with the improper storage of chemicals. Some of these measures are recognizing the chemicals that are water reactive and gases that are flammable, regular review of the chemical storage facilities, and proper training of the employee. Moreover, the manufacturers are also establishing warehouses that meet the rules and regulations regarding the safe handling of chemicals,” says ChandraKumar BJ, a lead analyst at Technavio, specializing in research on warehouse and storage.
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Chemical warehousing and storage market in North America
The chemical warehousing and storage market in North America was valued at close to $2 billion in 2015 and is expected to grow at a CAGR of over 10% by 2020. The availability of raw materials such as low-cost natural gas is encouraging chemical production and resulting in the increasing demand for chemical warehousing and storage in the North American market. The market in this region is also driven by the growing demand for agrochemicals, plastics, and polymers. The vendors in the market are focusing on expanding their distribution network to attract more consumers.
Chemical warehousing and storage market in Europe
The chemical warehousing and storage market in Europe was valued at more than $1 billion in 2015 and is estimated to grow at a CAGR of over 9% by 2020. The rising demand for petrochemicals in the European market is boosting the growth. The vendors are forming new strategies to promote better and more cost-effective storage options in the region. The market in the region is highly volatile due to the Greek crisis and the Ukraine and Crimea conflict, and this might lead to the saturation of the market during the forecast period.
Chemical warehousing and storage market in ROW
The chemical warehousing and storage market in ROW was valued at almost $1 billion in 2015 and is expected to grow at a CAGR of over 10% by 2020. The Middle East has the largest oil reserve across the globe, and it exports high volumes of chemical feedstock to Europe and Asia. Such activities will increase the chemical production and boost the demand for storage in the region.
The top leading vendors operating in the global chemical warehousing and storage market are:
- BDP International
- Agility
- Americold
- DB SCHENKER
- DHL
Other prominent vendors in the market include Ahlers, Alfred Talke Logistic Services, APL Logistics, BERTSCHI, Bowker Group, ChemLogix, Damco, DACHSER, Jacobson Companies, LeSaint Logistics, Montreal Chemical Logistics, Palmer Logistics, and TRANSPLACE.
A more detailed analysis is available in the Technavio report titled, ‘Global Chemical Warehousing and Storage Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Refrigerated Warehousing Market 2016-2020
- Global Chemical Logistics Market 2016-2020
- Global Refrigerated Transportation Market 2016-2020
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