Newark, Sept. 11, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 16.48 billion in 2023 global chemical warehousing market will reach USD 23.94 billion in 2033. A warehouse storage facility plays a crucial role in managing and storing semi-finished and finished goods, raw materials, and products destined for manufacturing and export. Chemical storage warehouses are specifically designed for pharmaceutical or chemical industries to handle bulk chemicals safely. These facilities are equipped to manage both non-hazardous and hazardous chemicals, providing essential protection from pests and ensuring smooth manufacturing and distribution processes.
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A chemical warehouse must adhere to specific safety measures, including chemical identification and labeling, adequate ventilation, and precise temperature control. Many organizations have opted to outsource their inventory storage to specialized third-party logistics (3PL) providers, particularly those with expertise in handling hazardous materials. To ensure effective operations, 3PLs utilize systems such as the Globally Harmonized System (GHS) hazard classes, Material Safety Data Sheets (MSDS), and Warehouse Management Systems (WMS).
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $ 16.48 Billion |
| Market Size in 2033 | $ 23.94 Billion |
| CAGR | 3.80% |
| No. of Pages in Report | 131 |
| Segments Covered | Type, Chemical Type, Regions |
| Drivers | The rise in international trade |
| Opportunity | The increasing technological advancement |
| Restraints | The high cost of operations and capital-intensive corporation |
Key Insight of the Global Chemical warehousing Market
North America will dominate the market during the forecast period.
This region is anticipated to experience the highest growth during the forecast period, driven by the expanding e-commerce sector and increased demand for specialty chemicals in the retail industry. The high consumption of cosmetic chemicals, corrosion inhibitors, institutional cleaners, biocides, lubricating oil additives, and synthetic lubricants also contributes to market growth in North America.
In 2023, the specialized warehouse segment dominated the market with the largest market share of 58.17% and revenue of 9.58 billion.
The type segment is divided into the specialized warehouse and general warehouse. In 2023, the specialized warehouse segment dominated the market with the largest market share of 58.17% and revenue of 9.58 billion.
In 2023, the agrochemicals segment dominated the market with the largest market share of 21.07% and revenue of 3.47 billion.
The chemical type segment is divided into synthetic rubber, petrochemical, agrochemicals, consumer chemicals, construction chemicals, polymer and plastic, textile chemicals, and others. In 2023, the agrochemicals segment dominated the market with the largest market share of 21.07% and revenue of 3.47 billion.
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Market Dynamics
Driver: Growth in International Trade.
The expanding production and global trade of chemicals, including hazardous substances, significantly drive the chemical warehousing market. Increased demand for agrochemicals due to rising population and food needs further propels market growth. Additionally, the growing demand for fast-moving consumer goods (FMCGs) like personal care, hygiene, and household cleaning products supports market expansion. The use of specialty chemicals in sectors such as pharmaceuticals, agriculture, and textiles also contributes to the overall market growth.
Restraints: High Operational Costs and Capital Intensity.
The chemical warehousing market faces challenges due to high research and development costs, capital investments, and fluctuating raw material prices. Stringent regulations governing specialty chemical storage and the slow adoption of advanced technological equipment by warehouse operators also hinder market growth. Additionally, the lack of support for handling specialty chemicals and the inability to manage heavy goods can restrict market expansion.
Opportunities: Technological Advancements.
Innovations in bio-based fertilizers and pesticides present new opportunities for market growth. Advancements in inventory tracking, automated handling, and real-time temperature monitoring are also contributing to market expansion. Changing consumer trends towards processed foods due to higher disposable incomes, increased convenience, and improved living standards in developing economies further drive growth.
Some of the major players operating in the global chemical warehousing market are:
• Deutsche Post DHL Group
• Affiliated Warehouse Companies
• Commonwealth Inc.
• Broekman Logistics
• Brenntag SE
• Univar Solutions
• Rinchem Company, Inc.
• KEMITO
• Anchor 3PL
• International Trade of Chemicals
• Warehouse Specialists Inc.
Key Segments covered in the market:
By Type
• Specialized Warehouse
• General Warehouse
By Chemical Type
• Synthetic Rubber
• Petrochemical
• Agrochemicals
• Consumer Chemicals
• Construction Chemicals
• Polymer and Plastic
• Textile Chemicals
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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