(MENAFN- GlobeNewsWire - Nasdaq) Jersey City, NJ, March 27, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global chemical distribution market Size, Share & Trends Analysis Report By Product (Commodity Chemicals, Specialty Chemicals) And End-User (Agriculture, Industrial Manufacturing, Consumer Goods, Textiles, Pharmaceuticals, Downstream Chemicals, Electrical & Electronics)- Market Outlook And Industry Analysis 2031"
The global chemical distribution market is estimated to reach over USD 389.72 billion by 2031 , exhibiting a CAGR of 4.64% during the forecast period.
Chemical distribution services link producers and smaller customers in less developed parts of the world. The help chemical dealers provide to chemical companies in expanding into new markets contributes to the expansion of the chemical industry globally. Increasing chemical utilization in several end-use industries, including construction, medicines, polymers & resins, and plastics, is predicted to be a major driver for the distribution business. Chemical manufacturers provide essential raw materials to companies in the industrial and manufacturing sectors. Producers sell these raw materials directly to consumers or distribute them to third parties.
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In contrast to the sale of a product directly to end users, it is anticipated that the allocation of specialty and natural resource chemicals by third parties will increase significantly due to the outsourcing of real worth services like packaging, logistics, waste removal, trying to blend, inventory management, and technical training. The need for chemical distribution services is anticipated to rise due to the increased investments made by chemical manufacturers to expand their manufacturing facilities. The distributors' enhanced real-worth services will make future growth opportunities possible.
Recent Developments:
In May 2022-Unium Bioscience Ltd. and HELM AG announced their intention to form a strategic alliance I. By delivering creative solutions that address market demands from growers, the new partnership between Union and HELM will demonstrate both organizations' commitment to sustainable agriculture and give HELM access to alternative crop production products in certain regions.
In August 2022, Brenntag AG announced that it had extended its distribution deal with ISCA, one of the major makers and suppliers of specialty chemicals, to supply preservatives used in the European cosmetics industry.
List of Prominent Players in the Chemical distribution Market:
Univar Solutions Inc. Helm AG Brenntag AG Ter Group Barents; Azalais Safin Alan ICC Industries, Inc. Jepsen & Jessen Pte. Ltd. Quimidroga; Solvadis Deutschland Gm Ashland Caldic B.V Wilbur Ellis Holdings, Inc. Omya AG IMCD Biesterfeld AG Stockmeier Group REDA Chemicals Manuchar
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Chemical Distribution Market Report Scope:
| Report Attribute | Specifications |
| Market size value in 2022 | USD 255.59 Bn |
| Revenue forecast in 2031 | USD 389.72 Bn |
| Growth rate CAGR | CAGR of 4.64% from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Billion, and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Product And End Users |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
Market Dynamics:
Drivers-
Expanding globalization is expected to encourage small and large manufacturing firms to develop alliances with international players to realize the prefabricated modular cost, market share, and competitive advantage and better serve their global consumers. Also, the worldwide movement to focus on minimizing chemicals' negative environmental effects will partially obstruct industrial development. However, market trends are anticipated to alter throughout the projection period because of the advancement and incorporation of advanced technologies in the chemicals industry.
Challenges:
A significant obstacle in the pharmaceutical production process is producers' dependence on distributors for the safe transportation of loose and non-bulk chemical supplies and managing varied coordination requirements, including custom amalgamation and repackaging.
Companies in the chemical sector confront significant challenges due to the strict government rules on using numerous specialized chemicals in the food and drink sector and other industries.
Regional Trends:
The North American chemical distribution market is expected to register a major market share in revenue and is projected to grow at a high CAGR shortly. Over the past decade, the increase of production capability by multinational chemical businesses in North America has been the primary driver of the shift toward third-party distributors as a growth platform. However, North America's oil and gas industry has slowed down during the past few years due to changing crude oil prices, the sluggish GDP of South America, and recession-hit nations.
The capability for hydrocarbon production is anticipated to increase in the next years due to numerous planned facilities along the U.S. Gulf Coast, including Natgasoline & South Louisiana Methanol. Besides, Asia Pacific had a substantial share of the market. This is explained by the increase in demand for different substances from end-use industries, including the automobile, pharmaceuticals, mining, cosmetic, and plastic additives industries, particularly in developing nations like India.
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Segmentation of Chemical Distribution Market-
Chemical Distribution Market By Product
Specialty Chemicals CASE Agrochemicals Electronic Construction Specialty Polymers & Resins Personal Care & Pharmaceuticals Other Specialty Chemicals
Commodity Chemicals Plastic & Polymers Synthetic Rubber Explosives Petrochemicals Other Commodity Chemicals
Chemical Distribution Market By End-use
Specialty Chemicals Automotive & Transportation Construction Agriculture Industrial Manufacturing Consumer Goods Textiles Pharmaceuticals Other Specialty Chemical End-uses
Commodity Chemicals Downstream chemicals Textile Electrical & Electronics Automotive & Transportation Industrial Manufacturing Other Commodity Chemicals End-uses
By Region-
North America-
Europe-
Germany The UK France Italy Spain Rest of Europe
Asia-Pacific-
China Japan India South Korea Southeast Asia Rest of Asia Pacific
Latin America-
Brazil Argentina Rest of Latin America
Middle East & Africa-
GCC Countries South Africa Rest of Middle East and Africa
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About Us:
InsighAce Analytic is a specializing in market research and consulting services that helps in building business strategies. Our mission is to provide high quality insights with using data analytics techniques and visualization tools that drives the disruption and innovation in market research industry. Our expertise is in providing syndicated and custom market intelligence reports with in-depth analysis and key market insights in a timely and cost-effective manner.
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