Global Chemical Warehousing and Storage Market Influenced by Chemical Logistics Industry: Technavio

The global chemical warehousing and storage market is expected to grow at a CAGR of about 11% during the forecast period, according to Technavio’s latest report.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20161202005015/en/

Technavio publishes a new market research report on the global chemical warehousing and storage market from 2016-2020. (Graphic: Business Wire)

In this report, Technavio covers the market outlook and growth prospects of the global chemical warehousing and storage market for 2016-2020. The customers in this market are segmented into manufacturers and distributors.

Storing goods and materials in a large storage facility is warehousing. The vendors offer services like loading and unloading, inventory management, and other supply chain management services. Chemical warehouses are mainly used to store various chemicals used in industries. The global chemical warehousing and storage market is witnessing growth mainly because of the impressive growth in the chemical logistics industry.

Technavio’s research study segments the global chemical warehousing and storage into the following regions:

• APAC
• North America
• Europe
• ROW

APAC: biggest chemical warehousing and storage segment

“APAC is experiencing swift rates of urbanization and industrialization, leading to growth of multiple industries in the area. This is creating a demand for more chemical feedstock from these industries, which is creating the need for more warehouses to store the chemicals. In addition, government initiatives to improve warehousing facilities are also helping the market in the region to grow”, says Sharan Raj, one of the lead analysts at Technavio for warehouse and storage research.

Countries like India and China have well-equipped warehouses which enforce and adhere to rules and regulations regarding the safe storing, handling, and management of chemicals. The facilities in the other developing countries in the region are also expected to improve during the forecast period, fueling the growth of the market.

Request a sample report: http://www.technavio.com/request-a-sample?report=54713

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

North America

More than 80% of the chemical warehousing and storage market in North America is represented by the US. Raw materials (like natural gas) for chemical production is available at low costs, which is encouraging large scale chemical production in the region, leading to increased chemical storage and exports. This region handles 15% of the global oil production and 10% of global natural gas production.

Many chemical vendors outsource their logistics to reduce transportation costs by 20%-30% and enhance their distribution networks. Several vendors in this region possess strong financial and operational capabilities, which are leading to an increasing number of strategic alliances in the market.

Europe

The chemical warehousing and storage market in the region is expected to grow at a CAGR of close to 10%. Established chemical manufacturing companies are shifting their bases to developing countries due to availability of a large consumer base and lower operating costs. The chemical manufacturing giant, BASF announced a new catalyst manufacturing base in China. Such moves are bringing down the operating and manufacturing costs. The fall in oil prices is pushing the manufacturers of petrochemicals to rework their strategies to cut their costs.

In 2015, base chemicals like petrochemicals and its derivatives accounted for 59.5% of total chemical sales in the EU region. Specialty chemical sales in the region alone accounted for generating USD 309.16 billion in the same year.

ROW

“The most important region for the chemical warehousing and storage market in the region is the Middle East. The Middle East accounts for 48% of the global oil reserves and 43% of the global gas reserves. Therefore, the production of chemicals is high in this region, and it supplies large amounts of chemical feedstock to Europe and Asia. The chemical industry in the region has 19% of the global capacity”, says Sharan.

In 2014, the region had around 46 refineries and produced 7.7 million barrels of oil per day. However, storing and transporting goods within the region and outside requires special care and attention. This is due to the complex rules and regulations governing the use and transportation of chemicals in the Middle East. Despite this, the market will exhibit a CAGR of over 10% in the forecast period.

The top vendors in the global chemical warehousing and storage market highlighted in the report are:

• BDP International
• Agility
• Americold
• DB SCHNKER
• DHL

Browse Related Reports:

• Global Warehousing and Storage: Market Research Analysis 2015-2019
• Warehousing and Storage Market in the US 2015-2019
• Warehousing Market in China 2015-2019

Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact enquiry@technavio.com with your requirements and our analysts will be happy to create a customized report just for you.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161202005015/en/