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New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Chemical Distribution Global Market Report 2022' -
The global chemical distribution market is expected to grow from $233.14 billion in 2021 to $247.96 billion in 2022 at a compound annual growth rate (CAGR) of 6.4%. The chemical distribution market is expected to grow to $334.43 billion in 2026 at a CAGR of 7.8%.
The chemical distribution market consists of sales of chemical distribution by entities (organizations, sole traders, and partnerships) that refer to a diversified enterprise that serves a variety of industries by providing solutions in the form of specialty or commodity chemicals.Few sectors in which chemical distribution is involved are agriculture, cosmetics, food and feed, pharmaceuticals, construction, and paints and coatings.
Chemical distribution includes several activities which include packaging, logistics, warehousing, mixing, blending, formulating, technical assistance, training, recycling, research & development, innovation, and ingredients.
The main types of chemical distribution are specialty chemicals and commodity chemicals.Specialty chemicals are compounds that are employed for a specific purpose or performance.
Agricultural, construction, pharmaceutical goods processing, chemical and intermediates processing, food processing and home additives, coatings, paper trade, and transportation are among the applications of specialty chemicals. Chemical distribution has various types such as pipelines, containers, barrels, and sacks that are used for transportation, construction, agriculture, textiles, pharmaceuticals, industrial manufacturing, and other end-users.
Asia Pacific was the largest region in the chemical distribution market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the chemical distribution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The chemical distribution market research report is one of a series of new reports that provides chemical distribution market statistics, including chemical distribution industry global market size, regional shares, competitors with a chemical distribution market share, detailed chemical distribution market segments, market trends and opportunities, and any further data you may need to thrive in the chemical distribution industry. This chemical distribution market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rising consumption of chemicals across various end-use industries is expected to propel the growth of the chemical distribution market.In industries like construction, various chemical compounds like concrete admixtures, polymer bonding agents, epoxy grouts, and adhesives are used.
In the automotive industry, it takes about 10,000 chemicals to manufacture an automobile.An increase in the growth of these other industries is helping the chemical distribution market to grow.
For instance, Sika, a construction chemical maker, posted its highest-ever annual profit exceeding the pre-pandemic level of $1.14 billion for 2019. The rise in sales number is due to the increase in the demand for construction materials leading to increased use of the specialty chemical in manufacturing. Therefore, the rising consumption of chemicals across various end-use industries will propel the growth of the chemical distribution market.
Technological advancement are shaping the chemical distribution market.Various advancements like eco-friendly chemical compound due to its engineered chemical structure which act as a non-toxic and safe for environment agent suitable for various applications.
For instance, in November 2021, Cosmo Specialty Chemicals, an Indian specialty chemicals company, developed an emulsion that is hydrophilic block silicone.When compared to other traditional non-silicone softeners, it has better softening characteristics due to its lower rotational free energy than C-O bonds.
The agent is non-toxic and eco-friendly, and it may be used in a variety of applications while still having a great effect in the textile sector.
In October 2020, Barentz, a leading global distributor of life science ingredients, acquired Maroon Group for an undisclosed amount.This acquisition is expected to expand Barentz activity helping to become a global leader in specialty chemicals.
Maroon Group is an American distributor of life science ingredients and specialty chemicals.
The countries covered in the chemical distribution market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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