Dublin, Oct. 14, 2024 (GLOBE NEWSWIRE) -- The "Chemical Warehousing Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The chemical warehousing market is projected to witness a CAGR of 3.45% during the forecast period to reach a total market size of US$21.760 billion by 2029, up from US$18.366 billion in 2024
Specialty chemical storage has distinct requirements from regular warehouses. Liquids or gases that can capture fire are dangerous substances. Further, these specialty chemicals pose an emerging risk to well-being and safety since they are hazardous or combustible. In addition, due to their nature, these compounds must be stored securely in specialized chemical warehouse facilities. 
Hazardous substance generation and transportation are expanding. Numerous businesses habitually contract hazardous warehousing and other errands to third-party logistics because of safety and environmental issues with storage. Third-party logistics work has been established within the chemical division and has become crucial.
Increasing international trade will bolster the chemical warehousing market growth.
In recent years, there has been a sharp rise in the demand for chemicals worldwide, especially forte chemicals and petrochemicals. This is generally due to the rising utilization of these substances in rising markets like China and India. To meet the developing demand from end-user businesses, nations must have adequate storage facilities to hold these chemical crude materials.
According to recent data by OEC, in 2022, the leading chemical item exporters were Germany ($249 billion), China ($248 billion), the United States ($237 billion), Ireland ($147 billion), and Switzerland ($134 billion). Additionally, for the imports in 2022, the biggest chemical products importers were the United States ($324 billion), Germany ($172 billion), China ($161 billion), Belgium ($104 billion), and the Netherlands ($92.6 billion).
Further, due to the significant presence of chemical producers and end-user industries, logistics, distribution, and warehousing services are needed due to the growing global trade in chemical goods, which is increasing the chemical warehousing market size.
Using blockchain to enhance traceability in logistics is anticipated to propel the demand for chemical warehousing.
A blockchain contains records of events that cannot be changed or tampered with and is a sequential stream of information. A blockchain system is a series of records that have been cryptographically protected. All supply chain activities are made more efficient and cost-effective by implementing blockchain technology, which eliminates the requirement for a single source to keep records.
More transparency will be available in warehouse and storage operations thanks to the new blockchain technology. These elements will encourage the warehousing chemicals market expansion over the projected period.
Rising technological advancements is expected to boost the market expansion.
The manufacturing of bio-based insecticides and fertilizers is projected to open up new market opportunities. In addition, several activities and technical developments in real-time temperature monitoring, autonomous handling, and inventory tracking promote market growth. However, the market will grow throughout the projected period due to a shift in consumer preferences toward processed foods brought on by rising disposable income, enhanced convenience, and rising living standards in emerging economies.
Increasing chemical manufacturing will contribute to the growth of the market.
The chemical warehousing market size is expected to rise due to the rise in chemical manufacturing. A rise in the requirement for safe transportation and distribution services regions results from expanding chemical production to provide different industries such as food production, pharmaceutical manufacturing, car manufacturing, and engineering. According to the American Chemistry Council, in the United States, the chemical volumes increased by around 3.2% in 2022, from 1.4% in 2021; however, the shipments jumped by nearly 8.2% in 2022.
High demand for chemical warehouses in agrochemical industries
The chemicals utilized in agriculture to bolster the expansion and well-being of living things may also be destructive to an individual's health and the environment. Dizziness, chemical burns, and other indications are conceivable in people after exposure to pesticides or fertilizers. Proper chemical storage for agricultural applications improves production beyond merely adhering to rules.
The warehouses are made with the knowledge of skilled engineers to meet strict industry standards while maintaining the chemicals secure, safe, and still available when needed. For instance, U.S. Chemical Storage provides a range of hazardous materials storage to meet the demands of your business, with adaptable fire-rated or non-fire-rated buildings to house the chemicals needed for agricultural management.
Asia Pacific is projected to dominate the Chemical warehousing market.
During the projected period, the Asia Pacific region is anticipated to lead the Chemical warehousing market. The entire region of Southeast Asia is the Asia Pacific's center for emerging economies. Additionally, India leads the world in both chemical imports and exports, ranking eighth in imports and fourteenth in exports. Although China is its largest single market, the chemical industry will continue to grow globally.
The construction of a strong warehouse infrastructure in developing nations, which is constantly prioritized, is anticipated to fuel the growth of the chemical logistics sector. For instance, in August 2022, Rhenus Warehousing Solutions India opened an economical chemical warehouse near New Delhi, reacting to the increasing requirement in the chemical and dangerous substances industry, taking after its expansion procedure by building up a multi-user facility in Gurgaon.
Chemical Warehousing Key Market Developments:
- February 2024-Rinchem opened a massive custom-built hazmat (chemical) warehouse in Surprise, Arizona, spanning 123,516 square feet and offering 16,000 pallet positions to support the booming semiconductor industry in the Phoenix Metro Area.
Chemical Warehousing Key Market Players:
- Univar Solution,a leading player in chemical & plastic warehousing solutions, provides a wide range of supply chain services such as inventory management. The company provides all formulation needs to fulfill all types of varied requirements.
- BRENNTAGis a leading chemical company with an established presence operating through its different chemical warehouses. For instance, in 2023, the company announced its new warehouse facility in Moerdijk, the Netherlands. The new warehouse has a tripled storage capacity for various industrial ingredients and chemicals.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 140 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $18.36 Billion |
| Forecasted Market Value (USD) by 2029 | $21.76 Billion |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Global |
Chemical Warehousing Market Leaders Include
- Odyssey Logistics & Technology
- Univar Solution
- BRENNTAG
- Warehouse Specialists
- Rinchem
- Anchor 3PL
- KEMITO
- Commonwealth
- Broekman Logistics
- Affiliated Warehouse
- ALFRED TALKE GmbH
- Deutsche Post DHL
By Type
- General Warehouse
- Specialty Chemicals Warehouse
By Chemical Type
- Synthetic Rubber
- Petrochemicals
- Agrochemicals
- Consumer Chemicals
- Construction Chemicals
- Polymer and Plastic
- Textile Chemicals
- Others
By Industry
- Pharmaceutical Industry
- Pesticide Industry
- Chemical Industry
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Italy
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Indonesia
- Others
For more information about this report visit https://www.researchandmarkets.com/r/ehulvs
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