June 11, 2023
3 min

Chemical logistics market size to grow by USD 53.66 billion from 2022 to 2027; the Growth of the Global C - Benzinga

- The chemical logistics market is expected to increase by USD 53.66 billion from 2023 to 2027, at a CAGR of 3.65%.

- Factors driving the growth of the market include the growth of the chemical industry, increasing use of multimodal transportation, and growing port infrastructure.

- The market is segmented by service, end-user, and geography.

- The transportation segment is expected to contribute significantly to market growth during the forecast period.

- The market includes major vendors such as Agility Public Warehousing, BASF, and CSX Corp.

- The demand for chemical logistics is driven by the growth of the global chemical industry and the shift of the industry to emerging Asian countries.

- One of the key emerging trends is the increased demand for large-capacity sea vessels in the global chemical logistics market.

- The major challenge impeding market growth is the high cost of operations and capital-intensive business.

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Written by
Adhikansh Gupta
Content Manager

Writer and editor who covers the latest trends and innovations in the software-as-a-service (SaaS) industry