New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Chemical Distribution Global Market Report 2023" - https://www.reportlinker.com/p06316994/?utm_source=GNW
The global chemical distribution market grew from $250.49 billion in 2022 to $271.96 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The chemical distribution market is expected to grow to $377.13 billion in 2027 at a CAGR of 8.5%.
The chemical distribution market consists of revenues earned by entities by providing fine chemicals, bulk chemicals and specialty chemicals.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The chemical distribution refer to a diversified enterprise that serves a variety of industries by providing solutions in the form of specialty or commodity chemicals.Few sectors in which chemical distribution is involved are agriculture, cosmetics, food and feed, pharmaceuticals, construction, and paints and coatings.
Chemical distribution includes several activities which include packaging, logistics, warehousing, mixing, blending, formulating, technical assistance, training, recycling, research & development, innovation, and ingredients.
Asia-Pacific was the largest region in the chemical distribution market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the chemical distribution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of chemical distribution are specialty chemicals and commodity chemicals.Specialty chemicals are compounds that are employed for a specific purpose or performance.
Agricultural, construction, pharmaceutical goods processing, chemical and intermediates processing, food processing and home additives, coatings, paper trade, and transportation are among the applications of specialty chemicals. Chemical distribution has various types such as pipelines, containers, barrels, and sacks that are used for transportation, construction, agriculture, textiles, pharmaceuticals, industrial manufacturing, and other end-users.
The rising consumption of chemicals across various end-use industries is expected to propel the growth of the chemical distribution market.In industries like construction, various chemical compounds like concrete admixtures, polymer bonding agents, epoxy grouts, and adhesives are used.
In the automotive industry, it takes about 10,000 chemicals to manufacture an automobile.An increase in the growth of these other industries is helping the chemical distribution market to grow.
For instance, in June 2022, according to an article published by India Brand Equity Foundation, an India-based joint venture between the Confederation of Indian Industry, the Government of India, and the Ministry of Commerce and Industry (Cll), more than 80,000 commercial products are covered by India’s chemicals industry, which had a market value of USD 178 billion in 2018–19. Due to rising end-user demand for specialty chemicals and petrochemicals, the industry is predicted to grow at a 9.3% CAGR to reach USD 304 billion by 2025. By 2025, it is anticipated that the specialty chemicals market will be worth $40 billion. Therefore, the rising consumption of chemicals across various end-use industries will propel the growth of the chemical distribution market.
Technological advancement are shaping the chemical distribution market.Various advancements like eco-friendly chemical compound due to its engineered chemical structure which act as a non-toxic and safe for environment agent suitable for various applications.
For instance, in November 2021, Cosmo Specialty Chemicals, an Indian specialty chemicals company, developed an emulsion that is hydrophilic block silicone.When compared to other traditional non-silicone softeners, it has better softening characteristics due to its lower rotational free energy than C-O bonds.
The agent is non-toxic and eco-friendly, and it may be used in a variety of applications while still having a great effect in the textile sector.
In October 2020, Barentz, a leading global distributor of life science ingredients, acquired Maroon Group for an undisclosed amount.This acquisition is expected to expand Barentz activity helping to become a global leader in specialty chemicals.
Maroon Group is an American distributor of life science ingredients and specialty chemicals.
The countries covered in the chemical distribution market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The chemical distribution market research report is one of a series of new reports that provides chemical distribution market statistics, including chemical distribution industry global market size, regional shares, competitors with a chemical distribution market share, detailed chemical distribution market segments, market trends and opportunities, and any further data you may need to thrive in the chemical distribution industry. This chemical distribution market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06316994/?utm_source=GNW
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