- 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.