Impact of COVID-19 Outbreak on Chemical Logistics Market with Innovations, Competitive Analysis, New Business Developments
Dynamically changing customer expectations, technological advancements, complex competition, and improving collaboration models are broadly governing the shift in the global chemical logistics market. The chemical logistics market is being evolved and is witnessing a significant shift owing to technological advancement in supply chain management. The chemical manufacturers are focused on outsourcing the inbound and outbound logistics to third-party logistics providers (3PL) to optimize operation costs associated with logistics and are focusing on improving manufacturing efficiency and core competence. On the other hand, the logistics service providers are inclined towards improving efficiency and optimizing profit margins through intermodal and multimodal transportation models. This has encouraged a collaborative yet competitive engagement among different participants of the chemical logistic ecosystem. The global chemical logistics market is anticipated to grow at a prominent rate during the coming years. However, the supply chain network and logistics services are anticipated to be affected due to the COVID-19 pandemic.
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North America contributed the largest share to the global chemical logistics market owing to the presence of global logistics service providers, strong chemical processing, production and consumption industry, and export of raw and processed chemicals worldwide. Additionally, the discovery of significant oil and shale gas deposits in the United States has positively impacted the petrochemical industry and other manufacturing and support industries and has created significant opportunities for logistics and transportation. This is anticipated to contribute significantly towards the growth of the chemical logistics market in North America. The Asia Pacific is anticipated to be the fastest-growing geography during the forecast period owing to a shift in the manufacturing base from Europe and the United States to low-income countries such as China, India, and Southeast Asian countries.
Figure: Global Chemical Logistics Market Share Analysis, by Geography (2019)
The report titled “Chemical Logistics Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide a company overview and market outlook for leading players in the global Chemical Logistics market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market. For instance, C.H. Robinson reported revenues of USD 15,309.5 million in 2019 and the consumer vertical analysis of the company indicates that the Food & Beverages customer vertical of the company dominated revenue in 2018.
The global chemical logistics market is segmented based on the mode of transportation, services, end-user, and geography. Based on the mode of transportation, the global chemical logistics market is segmented into the road, rail, pipeline, and sea (ships). Based on services, the global chemical logistics market is segmented into transportation, warehousing, and others. Based on end-user, the global chemical logistics market is segmented into public and private. Based on geography, the global chemical logistics market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Figure: Key Market Trends – Global Chemical Logistics Market
The research would provide an in-depth analysis of prominent players holding the majority share of the global market with a focus on all operating business segments and would identify the segment of the company focusing on Chemical Logistics. The market share of prominent companies in the global Chemical Logistics market would also be included. For instance, C.H. Robinson operates in five major industry verticals namely Food & Beverages, Manufacturing, Auto/Industrial, Chemicals, Retail, and Others. The company generated a revenue of US$ 1837.1 million in 2019 through chemical logistics services.
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The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the chemical logistics companies. Furthermore, the global chemical logistics market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. The product portfolio would focus on all the products under the chemical logistics market business segment of the company. Similarly, the recent development section would focus on the latest developments of a company such as strategic alliances and partnerships, merger and acquisition, a new product launched and geographic expansion in the global chemical logistics market.