Tokyo, Oct. 28, 2021 (GLOBE NEWSWIRE) -- The global chemical distribution market size was reached at US$ 239.2 billion in 2020. The global chemical distribution market growth is highly influenced by the growth of the chemical industry across the globe. There are thousands of different chemicals extensively used in the different industries for the production of huge variety of products across the globe.
The chemical distribution services helps the chemical producers in the distribution of chemicals in various new and developing markets, and helps to reduce the cost of distribution. The complexities involved in the supply chain of the chemical industry has fostered the growth and development of the third-party distribution services. The rapid growth of various industries such as construction, automotive, textile, and pharmaceuticals is propelling the growth of the global chemical distribution market. The consumption of commodity chemicals is rising exponentially in several end use industries such as consumer goods, electronics, construction, and automotive. This factor is estimated to drive the growth of the chemical distribution market in the forthcoming years.
Get Report Sample Copy OR Any Customization Requirement@ https://www.precedenceresearch.com/customization/1319
Crucial factors accountable for market growth are:
- Globalization of businesses
- Industry-friendly economic policies in the developing and developed markets
- Rapid urbanization and industrialization
- Excess demand for different chemicals from a huge number of industries
- Growing demand for the specialty chemicals
- Value added-services provided by the chemical distribution market players
Scope of the Chemical Distribution Market Report
| Report Coverage | Details |
| Market Size in 2020 | US$ 239.2 Billion |
| Growth Rate from 2021 to 2030 | CAGR of 5.6% |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Segments Covered | Product Type, End User Type, Region Type |
Regional Snapshots
Asia Pacific is the leading consumer of the chemicals and hence the largest chemical distribution market across the globe. The top chemical manufacturers are increasingly adopting the chemical distribution services for penetrating into the Asia Pacific market. Asia Pacific is the home to around 60% of the global population and hence the demand for products from various industries is high in the region. Therefore, the chemical distribution market has a huge growth potential in the Asia Pacific region. Moreover, the chemical industry contributes a significant share of 7.3% of the Asia Pacific’s GDP. Moreover, countries like China and India are the manufacturing hub and has huge demand for the chemicals. Hence, the chemical distribution market is expected to grow rapidly in the Asia Pacific region.
North America is expected to show a promising growth rate during the forecast period. This is attributed to the rising investment by the chemical industry players for expanding production capabilities. Moreover, the rapidly growing biopharmaceutical industry and automotive industry is boosting the chemical consumption, which in turn expected to drive the growth of the chemical distribution market in the region.
Market Dynamics
Drivers - The rising importance and need for achieving cost efficiency and demand among the chemical manufacturers to eliminate the complexities in the supply chain of the chemical industry is driving the growth of the global chemical distribution market. Further, rising consumption of chemicals in various end use industries is propelling the market growth.
Restraint - The rising demand for the organic products especially in the food and beverages sector is expected to hamper the growth of the global chemical distribution market. Further rising awareness regarding the negative impacts of chemicals on health and environment may hamper the consumption of various chemicals in food and beverage and consumer goods industries that may hamper the chemical distribution market to a certain level.
Opportunities - The rising investments by the chemical manufacturers to expand production units is expected to propel the demand for the chemical distribution services. Moreover, increased value-added services provided by the distributors will open growth avenues in the upcoming future.
Challenges - Stringent government regulations on the usage of various specialty chemicals in the food and beverages and other industries is a major challenge faced by the chemical industry participants.
- Browse more Chemical and Material Industry Research Reports@ https://www.precedenceresearch.com/industry/chemical-and-material
Report Highlights
- Based on the product, the specialty chemicals segment is expected to be the fastest-growing segment during the forecast period. The rising demand for the specialty chemicals such as coatings, adhesives, sealants, and elastomers across various industries is boosting the growth of this segment.
- Based on the end use, the construction segment held the largest market share in 2020. This is attributed to the increased urbanization and rapid industrialization in the developed and developing markets of North America, Europe, and Asia Pacific in the past years. The rising investments by the government for developing infrastructure in developing nations like China and India is further expected to foster the growth of this segment.
Segments Covered in the Report
By Product
- Specialty Chemicals
- CASE
- Electronic
- Agrochemical
- Construction
- Specialty Resins & Polymers
- Commodity Chemicals
- Synthetic Rubber
- Petrochemicals
- Plastic & Polymers
- Explosives
- Others
By End Use
- Automotive & Transport
- Agriculture
- Construction
- Consumer Goods
- Industrial Manufacturing
- Textiles
- Pharmaceuticals
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
Click Here to View Full Report Table of Contents
Buy this Premium Research Report@ https://www.precedenceresearch.com/checkout/1319
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333
About Us
Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.
For Latest Update Follow Us:
https://www.linkedin.com/company/precedence-research/
https://www.facebook.com/precedenceresearch/
https://twitter.com/Precedence_R
