Dublin, Oct. 13, 2022 (GLOBE NEWSWIRE) -- The "Chemical As A Service Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global chemical as a service market is expected to grow from $6.99 billion in 2021 to $7.90 billion in 2022 at a compound annual growth rate (CAGR) of 12.9%. The chemical as a service market is expected to grow to $11.49 billion in 2026 at a compound annual growth rate (CAGR) of 9.8%.
The main types of chemical as a service are chemical management services, and chemical leasing. Chemical management services refer to a business model in which a consumer buys chemical services instead of chemicals. CMS assists manufacturers in prioritising chemical management tasks so that they can be completed more efficiently. The end-users of chemicals as a service include agriculture and fertilizer, water treatment and purification, metal parts cleaning, paint and coatings, industrial cleaning, industrial gases, and other end-users.
North America was the largest region in the chemical as a service market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the chemical as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
A reduction in chemical consumption is contributing to the growth of the chemicals as a service market. A chemical is consumed when it is converted into another chemical through a chemical process. Lack of collaboration between chemical suppliers and consumers leads to unnecessarily high chemical consumption and the development of hazardous waste.
Chemical leasing, which is part of the chemicals as a service paradigm, attempts to increase chemical efficiency while lowering chemical hazards and safeguarding human health. For instance, in May 2019, according to The Sustainable Development Goals Policy Briefs by UN, it reported that after the introduction of Chemical Leasing for bottle washing and conveyor lubrication, chemical consumption was reduced by 40 and 48%, respectively, and the water and energy demand decreased significantly by a Ugandan beverage company Crown Beverages Limited (CBL). A reduction in chemical consumption is expected to propel the growth of the chemicals as a service market.
Strategic partnerships are a key trend gaining popularity in the chemical as a service market. Major companies operating in chemicals as a service are undergoing partnerships to strengthen their position in the market. For instance, in May 2022, Sphera, Chicago-based a leading global provider of Environmental, Social, and Governance (ESG) performance and risk management software, data, and consulting services, partnered with BASF Germany-based chemical company.
The collaboration makes BASF's methodology and digital solution for automated product carbon footprint (PCF) calculation available in Sphera's Life Cycle Assessment (LCA) software solutions. LCAs assist businesses in better analyzing the effects of their supply chain on their overall carbon footprint and making informed decisions on their path to net zero.
Scope
Markets Covered:
1) By Type: Chemical Management Services; Chemicals Leasing
2) By End User: Agriculture & Fertilizer; Water Treatment & Purification; Metal Parts Cleaning; Paint & Coatings; Industrial Cleaning; Industrial Gases; Other End Users
Key Topics Covered:
1. Executive Summary
2. Chemical As A Service Market Characteristics
3. Chemical As A Service Market Trends And Strategies
4. Impact Of COVID-19 On Chemical As A Service
5. Chemical As A Service Market Size And Growth
6. Chemical As A Service Market Segmentation
7. Chemical As A Service Market Regional And Country Analysis
8. Asia-Pacific Chemical As A Service Market
9. China Chemical As A Service Market
10. India Chemical As A Service Market
11. Japan Chemical As A Service Market
12. Australia Chemical As A Service Market
13. Indonesia Chemical As A Service Market
14. South Korea Chemical As A Service Market
15. Western Europe Chemical As A Service Market
16. UK Chemical As A Service Market
17. Germany Chemical As A Service Market
18. France Chemical As A Service Market
19. Eastern Europe Chemical As A Service Market
20. Russia Chemical As A Service Market
21. North America Chemical As A Service Market
22. USA Chemical As A Service Market
23. South America Chemical As A Service Market
24. Brazil Chemical As A Service Market
25. Middle East Chemical As A Service Market
26. Africa Chemical As A Service Market
27. Chemical As A Service Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Chemical As A Service Market
29. Chemical As A Service Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
- Sphera
- Henkel AG & Co. KGaA
- Safechem Europe Gmbh
- CSC JAKLECHEMIE GmbH & Co. KG
- Polikem
For more information about this report visit https://www.researchandmarkets.com/r/tcy58u
