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Chemical Logistics Market size is set to grow by USD 67.7 billion from 2024-2028, Growth of chemical industry boost the market, Technavio

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NEW YORK, July 10, 2024 /PRNewswire/ — The global chemical logistics market size is estimated to grow by USD 67.7 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 4.36% during the forecast period. The global chemical logistics market is poised to grow significantly, driven by the expanding chemical industry and adoption of blockchain technology in logistics. However, challenges such as high operational costs and the capital-intensive nature of the business hinder market growth. Key players like Agility Public Warehousing Co. K.S.C.P, BASF SE, and C H Robinson Worldwide Inc. are pivotal in shaping this dynamic sector’s future.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Chemical Logistics Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 4.36%

Market growth 2024-2028

USD 67.7 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.11

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 62%

Key countries

China, US, Japan, Germany, and South Korea

Key companies profiled

Agility Public Warehousing Co. K.S.C.P, BASF SE, BRENNTAG SE, C H Robinson Worldwide Inc., CMA CGM SA Group, CSX Corp., CT Logistics, Deutsche Bahn AG, Deutsche Post AG, Dow Chemical Co., DSV AS, Dupre Logistics LLC, FedEx Corp., Kintetsu Group Holdings Co. Ltd., North West Carrying Company LLP, PSA International Pte Ltd., Saudi Basic Industries Corp., Schneider National Inc., and Univar Solutions Inc.

Market Driver

Blockchain technology is revolutionizing the logistics industry by providing a secure, transparent, and cost-efficient solution for maintaining and sharing supply chain data. This digitalized platform uses a distributed transaction ledger, allowing various stakeholders to maintain identical copies of records on multiple computer systems. Each transaction is cryptographically protected and validated by an independent third party, ensuring security and preventing fraud. The benefits of blockchain technology are numerous, including increased transparency, reduced paperwork, and improved traceability and trackability. In the context of chemical logistics, this technology is particularly valuable due to the criticality and confidentiality of the information involved. With an estimated USD30 billion in annual cargo theft losses in the logistics industry, blockchain technology offers a promising solution for minimizing risk and streamlining operations. Major logistics companies, such as International Business Machines Corp. And A.P. Moller – Maersk, have already implemented blockchain technology to create more secure and efficient digital shipping platforms. Similarly, 3PL service providers like ITS Logistics are partnering with blockchain technology providers to develop common standards and frameworks for the industry. Overall, the use of blockchain technology in chemical logistics is expected to enhance data security, automate processes, and create transparency in the sharing of critical and confidential records. 

The Chemical Logistics Market is experiencing significant trends in various process industries. Three-party logistics (3PL) providers are increasingly managing non-asset chemical logistics, addressing complexities in rail networks and uncertain transit times. Road quality and pilferage remain challenges, driving automation in warehouses. Green warehouses and sustainable business operations are prioritized for environmental concerns. Advancements include smart sensors, robotics, artificial intelligence (AI), machine learning, radio-frequency identification (RFID), Bluetooth, drone delivery, and driverless vehicles. Shale gas and the energy industry are major consumers, but chemical demand varies across diverse sectors like food production, pharmaceutical manufacture, vehicle manufacturing, and engineering. Collaborations between the American Chemistry Council and the government of India, and other industry partnerships, are crucial for addressing chemical volumes and ensuring safe, efficient transportation. Addressing environmental problems and maintaining chemical manufacturing standards remain key priorities. 

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Market Challenges

The chemical warehousing and storage market involves significant investment for setting up facilities that adhere to specifications and obtain necessary certifications. Different chemicals require unique storage solutions, and various factors such as regulations, political climate, and competition impact market growth. Warehouse location is strategic, with considerations including price of land, connectivity, and infrastructure. Rising land costs and warehouse rents challenge operators to either rent or buy. Optimizing warehouse capacity and minimizing operational costs are essential to prevent financial losses from oversized or poorly utilized spaces. The slow adoption of advanced inventory tracking technology and inventory loss through damage, pilferage, and misplacement are ongoing challenges for the industry. These factors contribute to the high cost of investment and operation in the chemical logistics market, potentially limiting its growth.Chemical logistics is a critical business sector that ensures the safe and efficient transportation and warehousing of chemicals. The use of IoT devices and intelligent cloud platforms enhances agility and improves supply chain visibility. However, chemical logistics faces challenges in various industry verticals, including the cosmetic and specialty chemicals industries, food production, and automobile manufacturing. OEM shutdowns, safety hazards, contamination, and spoilage are common issues. Federal and state regulations add complexity, affecting workers and the general public. Tech-driven logistics services offer solutions through airways, roadways, railways, waterways, pipelines, and transportation & distribution. Companies like A&R Logistics, Agility, BASF, Rhenus Logistics, and Ryder System Inc. Provide storage & warehousing, customs & security, green logistics, consulting & management services. Dangerous chemicals, raw materials, and finished chemical products require specialized handling in the oil & gas industry and end use industries.

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Segment Overview 

This chemical logistics market report extensively covers market segmentation by  

Service 1.1 Transportation1.2 Warehousing1.3 OthersEnd-user 2.1 Chemical industry2.2 Pharmaceutical industry2.3 Speciality chemical industry2.4 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Transportation- The Chemical Logistics Market involves the transportation, storage, and handling of chemicals from one place to another. Companies in this sector ensure safe and efficient movement of chemicals through various modes of transport like road, rail, and sea. They offer value-added services such as temperature control, packaging, and inventory management to meet the specific requirements of chemical manufacturers and consumers. The market is driven by factors like increasing demand for chemicals in various industries, stringent regulations, and growing focus on supply chain efficiency.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Chemical Logistics Market is experiencing significant growth due to the surge in chemical demand from various industry verticals such as energy, shale gas, and the environmental problems that necessitate the use of chemicals for mitigation. The chemical manufacturing and transportation sectors are at the forefront of this trend, supplying essential raw materials for food production, pharmaceutical manufacture, vehicle manufacturing, and engineering. The energy industry’s shift towards cleaner sources and the increasing use of IoT devices and intelligent cloud platforms in chemical logistics are driving innovation. Agility Logistics and other tech-driven logistics services are collaborating to provide efficient and safe transportation of chemicals in both liquid and solid states. However, the industry faces challenges such as safety hazards, contamination, and spoilage during transportation and warehousing. Federal and state regulations are stringent to ensure safety and compliance. OEM shutdowns can also impact the market, making flexibility and adaptability crucial. The specialty chemicals industry and cosmetics sector are also significant contributors to the market’s growth.

Market Research Overview

The Chemical Logistics Market is a critical component of the energy industry, particularly in the context of shale gas production. With the surge in chemical demand from diverse sectors such as food production, pharmaceutical manufacture, vehicle manufacturing, engineering, and more, the market for chemical transportation and manufacturing has grown significantly. However, this growth comes with challenges, including environmental problems, safety hazards, and regulatory compliance. Chemical logistics companies provide services for the transportation and distribution of chemicals in various states – liquid and solid. They cater to end use industries, including the oil & gas industry, process industries, and 3PL providers. The market is complex, with factors such as federal and state regulations, workers’ safety, and the general public’s safety being of utmost importance. The chemical logistics industry is undergoing a tech-driven transformation, with IoT devices, intelligent cloud platforms, and automation playing a key role. Collaborations between industry players, such as Agility Logistics and BASF, Rhenus Logistics and Ryder System Inc., are driving innovation in the sector. The market is diverse, with industry verticals including the cosmetic industry, specialty chemicals industry, and food industry. OEM shutdowns, contamination, spoilage, and safety hazards are some of the challenges that chemical logistics companies face. Green logistics, consulting & management services, and sustainable business operations are becoming increasingly important in the sector. Transportation & distribution, storage & warehousing, customs & security, and consulting & management services are the key offerings of chemical logistics companies. The market is served by various modes of transportation, including airways, roadways, railways, waterways, and pipelines. Safety hazards, such as contamination and spoilage, are significant concerns in the chemical logistics industry. Federal and state regulations, as well as the general public’s safety, are of utmost importance. Tech-driven logistics services, such as smart sensors, robotics, artificial intelligence (AI), machine learning, radio-frequency identification (RFID), Bluetooth, drone delivery, and driverless vehicles, are being adopted to mitigate these risks and improve efficiency. The chemical logistics market is expected to continue growing, driven by increasing demand for chemicals in various industries and the need for efficient, tech-driven logistics solutions. However, challenges such as complexities in the rail network, uncertain transit time, road quality, pilferage, and automation will need to be addressed to ensure the industry’s continued growth and success.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ServiceTransportationWarehousingOthersEnd-userChemical IndustryPharmaceutical IndustrySpeciality Chemical IndustryOthersGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

Molex Unveils Versatile VaporConnect Optical Feedthrough Modules Enabling Thermal Management Innovations to Address AI-Driven Data Center Growth

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First-to-market, cassette-based solution for two-phase immersion cooling slashes time and cost associated with installing and upgrading hyperscale data centersPlug-and-play deployment easily connects immersion-tank optical transceivers to cabling infrastructure via fully upgradeable sealed modulesFuture-proof capabilities include flexibility to change connector types and shuffle circuit configurations without impacting mechanical interfaces or tank design

LISLE, Ill., Sept. 23, 2024 /PRNewswire/ — Molex, a global electronics leader and connectivity innovator, today introduced a thermal management solution that reduces the time and cost of deploying and upgrading high-performance data centers to meet unrelenting demand for generative AI and machine learning workflows. Molex VaporConnect™ Optical Feedthrough Modules for two-phase immersion cooling address constant increases in data center speed and capacity by leveraging a unique, cassette-based design that bolts directly onto immersion tanks and enables optical transceivers and network cabling infrastructure to be swapped out without changing mechanical interfaces or impacting immersion tank architecture. Reference designs for the new modules will be available commercially in Q1 of 2025.

“Molex continually embraces innovative optical solutions to ease data center deployments and upgrades while alleviating critical thermal management challenges,” said Trevor Smith, general manager, Optical Connectivity, Molex. “VaporConnect gives customers the flexibility to upgrade connectivity and scale cooling system designs to keep pace with data center growth by simply deploying a different module, which will accelerate upgrades while reducing overall energy, cooling and technology costs.”

Streamlining Two-Phase Immersion Cooling
Molex VaporConnect Optical Feedthrough Modules simplify the connections between optical transceivers contained within immersion tanks and cabling infrastructure that exists outside the tank using fully upgradeable sealed modules. With VaporConnect, sealing and cabling is accomplished inside the module, giving customers the opportunity to upgrade connectors without impacting immersion tank design or architecture. Additionally, customers have the flexibility to re-use standard cabling infrastructure for multiple product generations, which further reduces deployment time, cost and complexity.

A full range of industry-standard and Molex optical connector form factors are available for single- and multi-mode fiber solutions. They also feature mix-and-match functionality to facilitate system upgrades to newer or denser connectors. Customizable module footprints are available to fit specific space and application requirements. Also, Molex VaporConnect Optical Feedthrough Modules are designed to minimize external patching and shuffle requirements by leveraging Molex FlexPlane™ optical circuitry technology. As a result, complex optical shuffles and high-density fiber routing are integrated seamlessly within the module for simpler installation and plug-and-play operation.

Reliable, Versatile, Upgradeable Optical Interconnects
A sealing gasket comes with every VaporConnect module, which is thoroughly tested using industry-standard, helium-leak testing to ensure a reliable seal with the tank wall. This also assures a seamless transition from the server line cards inside the tank to outside cabling infrastructure. Testing is underway for compliance with industry-standard GR-1435-CORE.

VaporConnect modules are designed to accommodate customer specifications, with the number of fiber channels dependent on the number and type of connectors used. As many as 576 fibers can be integrated into a single module. A range of form factor options are available, including MPO, LC and very small form factor (VSFF) options, such as MMC, MDC, SN and SN-MT. This ensures conformance to existing infrastructure and streamlines system upgrades. As part of Molex’s continued investment in this area, an EBO connector option is currently in development, with availability slated for the first half of 2025.

Molex’s Commitment to Optical Network Innovations on Display at ECOC 2024
As the largest manufacturer of Optical Feedthrough Modules for two-phase immersion cooling, Molex has shipped more than 350,000 optical channels to date. At this year’s ECOC’24, Molex will reinforce its commitment to optical network infrastructure innovations with on-site product displays, including the new VaporConnect Optical Feedthrough Modules. The company’s extensive line of optical connectivity products, optoelectronics solutions and wavelength management systems also are being featured at Stand C75. As a participating member in OIF, Molex is part of an interoperability demonstration, which takes place at Booth B83, to spotlight optical networking innovations and solutions for data centers, AI/ML technologies and disaggregated systems.

About Molex
Molex is a global electronics leader committed to making the world a better, more-connected place. With a presence in more than 40 countries, Molex enables transformative technology innovation in the automotive, data center, industrial automation, healthcare, 5G, cloud and consumer device industries. Through trusted customer and industry relationships, unrivaled engineering expertise, and product quality and reliability, Molex realizes the infinite potential of Creating Connections for Life. For more information, visit www.molex.com.

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SOURCE Molex Incorporated

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Technology

CASIO Aims to Capture the Capital’s Fashion-Centric Urban Youth with its New Exclusive Store at Kamla Nagar

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NEW DELHI, Sept. 23, 2024 /PRNewswire/ — Casio Computer Co. Ltd, headquartered in Japan and the parent company of Casio India, launches its exclusive store in Kamla Nagar. With this endeavour, the brand has strengthened its retail footprint to 64 stores across India with the fifth exclusive Casio store in New Delhi.

Located in the heart of Kamla Nagar market, a vibrant hub for Delhi University students, the new Casio Exclusive store is poised to become an emblem of trendsetting timepieces, blending Japanese quality and craftsmanship with sophisticated style. The store features G-SHOCK’s Limited-Edition drops, all iconic styles of 5000, 5600, 6900, 110 & 2100 Series and the latest launches from the G-STEEL range. Customers will find timepieces that showcase precision and design—from the rugged durability of G-SHOCK to the timeless elegance of Casio watches to the sophisticated chronographs of Edifice, and the nostalgic appeal of Vintage—catering to a wide array of tastes and preferences.

Speaking about the launch, Mr. Hideki Imai, Managing Director of Casio India, said, “We are thrilled to announce the opening of our newest CASIO store in Kamla Nagar, marking our fifth milestone in Delhi and our 64th across India. This launch represents a significant step in our nationwide expansion and our commitment to engaging with the students and watch enthusiasts who frequently visit and reside in the North campus of Delhi University.

“Kamla Nagar, with its vibrant community of young, creative minds, is the ideal location for our newest store. This launch reinforces our dedication to delivering unique and immersive experiences to our consumers in Delhi NCR, aligning with their evolving lifestyles and preferences. We look forward to welcoming our customers to the new store, where they can experience a fine blend of Japanese craftsmanship, unmatched durability and trendsetting style.”

Set to open its doors to Delhi University’s fashion and watch enthusiasts who value individuality and a unique sense of style, this store promises an enthralling experience unlike any other. Located at Shop No. 33/34, Kamla Nehru Marg, Bungalow Road, the brand invites visitors to explore its newly curated space, where every corner embodies the spirit of innovation and creativity. The store is operational from 10:30 AM to 09:30 PM on all days of the week.

About Casio India Co. Pvt. Ltd.:

Casio India Co. Pvt. Ltd.(CIC) is the Indian subsidiary of Casio Computer Co., Ltd., Tokyo, Japan, one of the world’s leading manufacturers of consumer electronics and business equipment solutions. Casio India has established a dynamic presence in the Indian market since 1996, emerging as a leading and cherished consumer goods manufacturer. Casio India’s range of products includes the sales and marketing of Timepieces, Electronic Musical Instruments, Desktop Calculators, Scientific Calculators, Label Printers, and Clocks.

 Setting the benchmark for excellence, Casio India is dedicated to embodying the spirit of innovation and quality that defines the Casio legacy. With a strong commitment to its corporate creed of ‘creativity and contribution,’ Casio has consistently translated this ethos into the creation of innovative products making a positive impact on society.

For more information, visit https://www.casio.com/in/

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Hospital in Greenland chooses Sectra’s radiology solution–enhanced cross-country collaboration for improved patient care

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LINKÖPING, Sweden, Sept. 23, 2024 /PRNewswire/ — International medical imaging IT and cybersecurity company Sectra (STO: SECT B) will provide its enterprise imaging solution to Dronning Ingrids hospital (DIH) in Greenland. The solution will enhance DIH’s ongoing collaboration with hospitals in Denmark, addressing resource and subspecialty challenges, and ultimately improving patient care in the region. 

“The partnerships we have with hospitals in Denmark are highly important to us as we, being sparsely populated, struggle to recruit staff and cover medical specialties locally. To deliver care at the speed and quality we want, we need to both increase the efficiency of our internal radiology workflows and facilitate the cooperation with healthcare providers in Denmark. Sectra’s unified platform enables this by providing easy access to images, data, patient portfolio and necessary tools, along with the ability to efficiently share information,” says Cosmus Pyndt, Manager of the diagnostic and therapeutic department in the region.

DIH is Greenland’s central hospital. It is located in the city of Nuuk, also supporting 15 clinics spread around the country. The contract for Sectra’s enterprise imaging solution was signed in the second quarter of Sectra’s 2024/2025 fiscal year following a donation to the hospital from Kirsten og Freddy Johansens Fond. DIH will initially utilize the solution’s module for radiology.

“Sharing resources, expertise and workload between hospitals within a region or, as in this case, even across borders, is crucial in handling the increasing workloads in healthcare and resource shortages. Therefore, the sharing of information and images between hospitals should be efficient and easy. It is encouraging to witness the collaboration between DIH and hospitals in Denmark. The involvement of Rigshospitalet in Denmark, which went live with Sectra this summer, and particularly the expertise of Chief Radiologist Martin Lundsgaard Hansen, has been helpful in shaping this project,” says Sune Henriksen, Managing Director, Sectra Denmark.

He continues: “I am honored to support Dronning Ingrids hospital in delivering high-quality patient care, and we are excited about this new chapter for Sectra as we extend to support healthcare in Greenland.”

Sectra’s enterprise imaging solution provides a unified strategy for all imaging needs while lowering operational costs. The scalable and modular solution, with a VNA at its core, allows healthcare providers to grow from ology to ology and from enterprise to enterprise. Visit Sectra’s website to read more about Sectra and why it’s top-ranked in ‘Best in KLAS‘.

About Sectra
Sectra contributes to a healthier and safer society by assisting health systems throughout the world to enhance the efficiency of care, and authorities and defense forces in Europe to protect society’s most sensitive information. The company, founded in 1978, is headquartered in Linköping, Sweden, with direct sales in 19 countries, and distribution partners worldwide. Sales in the 2023/2024 fiscal year totaled SEK 2,964 million. The Sectra share is quoted on the Nasdaq Stockholm exchange. For more information, visit Sectra’s website.

For further information, please contact:
Dr. Torbjörn Kronander, CEO and President Sectra AB, +46 (0)705 23 52 27
Marie Ekström Trägårdh, Executive Vice President Sectra AB and President Sectra Imaging IT Solutions, +46 (0)708 23 56 10

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