Global Chemical Warehousing and Storage Market 2016-2020
About Chemical Warehousing and Storage
Chemical warehouses are mainly used to store various chemicals used in industries. Most industries produce or use chemicals derived from oil and natural gas. Many intermediate chemicals are also produced during their production processes, which are used in other industries. The storage and handling of different chemicals require trained professionals and highly regulated activities.
Technavio’s analysts forecast the global chemical warehousing and storage market to grow at a CAGR of 10.80% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global chemical warehousing and storage market for 2016-2020. To calculate the market size, the report considers the revenue generated by the chemical warehousing and storage service providers has been considered to calculate market size.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Chemical Warehousing and Storage Market 2016-2020
Technavio recognizes the following companies as the key players in the global chemical warehousing and storage market: BDP International, Agility, Americold, DB SCHENKER, and DHL.
Other prominent vendors in the market are: Ahlers, Alfred Talke Logistic Services, APL Logistics, BERTSCHI, Bowker Group, ChemLogix, Damco, DACHSER, Jacobson Companies, LeSaint Logistics, Montreal Chemical Logistics, Palmer Logistics, and TRANSPLACE.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is increased chemical usage in end-user industries. Chemicals are widely used in many industries. As the demand for the final products of these industries is increasing, the demand for chemicals and thus the demand for chemical warehousing and storage is also increasing. Growth in the specialty chemicals and pharmaceutical segments are driving the market. There is high demand for chemicals used in pesticides and pharmaceuticals from India.”
According to the report, one of the primary drivers in the market is increasing demand for specialty chemicals. The demand for specialty chemicals is increasing because these chemicals have various applications in the food, cosmetics, agricultural, and textiles industries. Some examples of specialty chemicals are adhesives, cosmetic additives, food additives, agrochemicals, polymers, and construction chemicals. The global consumption of specialty chemicals has grown over the past 10 years. The revenue from specialty chemicals accounted for 37% of total global sales in 2015.
Further, the report states that one major challenge in the market is safe storage of chemicals. The chemicals that are usually not considered harmful also tend to become hazardous in nature under certain conditions. The harmful effects of chemicals range from simple skin rashes to death. Therefore, one of the major challenges faced by the vendors in the chemical warehousing and storage market is the safe storage of these chemicals. Safe storage involves proper labelling of products, good housekeeping, and stock control. If the hazardous chemicals are not stored correctly and the storage spaces are not monitored regularly, spill, uncontrolled reactions, accidental inhalation, fires, and contamination can occur.
BDP International, Agility, Americold, DB SCHENKER, DHL, Ahlers, Alfred Talke Logistic Services, APL Logistics, BERTSCHI, Bowker Group, ChemLogix, Damco, DACHSER, Jacobson Companies, LeSaint Logistics, Montreal Chemical Logistics, Palmer Logistics, TRANSPLACE.