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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.

For more insights on driver and challenges – Request a sample report!

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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Youth Power: Foreign Youth Embrace China’s Economic Prospects

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BEIJING, July 13, 2024 /PRNewswire/ — In the latest episode of China Daily’s Youth Power, which aired on June 30, Jan Kerekes, a Canadian who has lived in South China’s Hainan province for six years, shared what led him to settle down here.

Hainan is really opening up. The whole world comes here, and you see the opportunities right in front of you,” Kerekes said. “It is a place where you can pursue your dreams.”

Now a teacher at Hainan University, Andreev Aleksei, a 30-year-old Russian, found Kerekes’s story particularly resonant.

“When I went back to my country, I missed the island so much that I had to come back,” Aleksei said. “Hainan not only hosts the Boao Forum for Asia but it is also the best place for windsurfing and parachuting.”

To encourage international talent to come, Hainan has introduced 16 measures to streamline living and working conditions for foreigners.

For example, Aleksei mentioned that Hainan offers numerous benefits and advantageous policies to assist global talents in establishing businesses in the region.

“[The application process] takes just three days, and it can be completed entirely online, even for foreigners,” he said.

The young guests visited the Haikou Municipal Government Service Center to learn more about these measures. There, they met people from around the world with different needs — whether for visas, education, or business.

“I think it’s a testament to the inclusivity of the entire province,” said Jood Ghazwan Sharaf, a 27-year-old Bulgarian student at Tsinghua University.

Dylan Walker, 27, from the United States, was impressed by the efficiency of the “one window for all” system.

“It’s like a one-stop service,” he said. “You don’t have to run all over the place.”

In addition to aiding tourists and residents in their daily lives and business activities, Hainan has made significant economic progress.

One notable example is the Yangpu Economic Development Zone, which has evolved from a small port into Hainan’s largest international port.

In the zone, the young guests explored the Yangpu Offshore Wind Power Industrial Park, where they discovered Hainan’s commitment to developing its marine economy and striving for a harmonious coexistence with the ocean.

According to Lin Qingsong, the park’s general manager, while Hainan’s wind power utilization is still in its early stages, this project stands out as a pioneering model for future large-scale offshore wind power initiatives.

“We can see that China is not an economy that goes within itself. It goes outward to benefit the rest of humanity,” Sharaf said, impressed by China’s innovative economic experiments.

As a global resident of Hainan, Aleksei believes that this island is not only a dynamic free trade model but also a natural paradise that strikes a balance between work and leisure.

“This is quite a unique place in China,” Aleksei said. “No matter what purpose brings you here, whether it’s tourism, starting a business, or work, just come here, and you will fall in love with it.”

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SOURCE 21st Century English Education Media

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Unimoni Student Stars 2024 – Scholarship & Rewards Program Launched: Study Abroad with ₹12 Lakhs Scholarship

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KOCHI, India, July 13, 2024 /PRNewswire/ — Unimoni, a leading provider of international money transfer services, is thrilled to announce the launch of its highly anticipated Unimoni Student Stars 2024 scholarship program. This year, the program offers a staggering ₹12 lakhs in scholarships and prizes, empowering ambitious Indian students to pursue their educational dreams abroad.

Unimoni Student Stars 2023 proved to be a monumental success, underscoring Unimoni’s commitment to nurturing India’s brightest talents pursuing international education. The program garnered widespread acclaim for its inclusive approach and impactful support of deserving students nationwide.

Building on last year’s initiative’s resounding achievements, which supported numerous talented students in pursuing overseas education dreams, Unimoni aims to elevate its impact further in 2024. The Unimoni Student Stars 2024 scholarship program launched with increased prize offerings, expanded eligibility criteria, and enhanced participant engagement initiatives planned. The company is poised to attract an even broader pool of exceptional candidates.

Beyond the Mega Scholarships: Exciting Rewards Throughout the Year

The Unimoni Student Stars 2024 scholarship program offers a tiered prize structure. The grand prize winner receives a life-changing scholarship of ₹5 lakhs. Additionally, one student will be awarded a second prize of ₹2 lakhs and three deserving students will receive scholarships worth ₹1 lakh each. Every quarter during the application period, lucky applicants will have the chance to win a new laptop. Every month, registered students can win a stylish trolley bag, perfect for their international studies. Plus, every participant secures a coveted free study abroad forex card.

Brace yourselves for a journey of triumph and rewards with Unimoni Student Stars 2024.

Eligibility Criteria

The Unimoni Student Stars 2024 scholarship program is open to Indian students either pursuing higher education abroad or planning to do so. To be eligible, candidates must register on the Unimoni or Remit Forex website with relevant details by March 31, 2025. Eligibility criteria include securing 60% or more in 10+2/diploma or graduation from institutions recognized by CBSE/ICSE/UGC/State/Central government. Candidates must also possess a valid offer letter from a foreign university. Indian students studying overseas are eligible but must update their university details during registration.

The registration process is straightforward

The application process is designed to be simple and convenient. Students can register online at the Unimoni website or the Remitforex website. Or scan QR codes from advertisements or social media links and complete a dedicated registration landing page. Candidates must accept the terms and conditions after entering personal and educational details and confirming eligibility. Subscribing to Unimoni or Remit Forex’s social media pages is encouraged, and additional referral benefits are available.

The Application Window Opens July 1, 2024

Register for Unimoni Student Stars 2024

Embark confidently on the study abroad journey by joining the Unimoni Student Stars 2024 program. Register now to unlock exclusive benefits and services tailored to support every international education dreams. From seamless outward remittance solutions to expert guidance on financial transactions, Unimoni ensures everyone’s study abroad experience is smooth and stress-free.

Follow Unimoni on social media for updates on the Unimoni Student Stars 2024 scholarship program and other exciting initiatives.

Don’t miss out – seize this opportunity to realize global ambitions with Unimoni. Please register today and let Unimoni empower candidates on their educational journey abroad.

To begin the registration process, please visit https://cutt.ly/xehwoWCk  

About Unimoni & Their Customized Services to Meet Everyone’s Needs

Committed to facilitating global education opportunities, Unimoni empowers students to achieve their academic dreams abroad and promotes its services to aspiring students.

Whether you’re remitting funds for tuition fees or living expenses, Unimoni ensures secure and streamlined outward remittance services. Unimoni’s competitive rates and efficient exchange services also make navigating currency exchanges seamless. Our exclusive study abroad forex card offers convenience and security, facilitating hassle-free financial transactions wherever you are. If you need assistance with Guaranteed Investment Certificates (GICs), Blocked Accounts, or Foreign Telegraphic Transfers (FTS), Unimoni provides expert guidance and support.

Unimoni facilitates effortless payments for university fees, hostel charges, and other expenses abroad, ensuring timely transactions to support your academic journey. Unimoni offers comprehensive health insurance plans, flexible and competitive overseas education loan options, and suitable student accommodation to ensure a smooth transition to your new academic environment. You need not worry about visa procurement, passport assistance, flight bookings, and pre-departure orientation!

Unimoni Financial Services Ltd
Web: https://www.unimoni.in / https://remitforex.com  
Email: care@remitforex.com  
Contact : +918129922232

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Faith In Young Champions: Hisense Partners with UEFA Foundation to Bring the Beautiful Game to Hospitalized Children

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QINGDAO, China, July 12, 2024 /PRNewswire/ — During the EURO 2024 tournament, the global home appliance and consumer electronics brand Hisense and the UEFA Foundation jointly launched “Faith In Young Champions,” a public welfare initiative. Innovative robots powered by Hisense enabled hospitalized children from 22 countries to virtually connect with 23 EURO 2024 matches, fulfilling their dreams of attending the event despite physical limitations.

During these periods, children can employ the robot to gain entry into exclusive areas, such as the warm-up zone, locker room or VIP section, directing interaction with their beloved players or teams, so that every football-loving soul can express the purest passion of live football in this way.

As part of its commitment to improving the lives of children, Hisense wants to leverage user-centric technology and social responsibility worldwide. For this remarkable occasion, Hisense supported state-of-the-art commercial products like interactive displays to a hospital in South Africa, and the children had the enriching opportunity to learn how this technology works through interactive activities with the help of volunteers. Also, hospital can use that in their daily office, meeting or discussion, making their working processes more electronic and convenient. 

“We gladly accept the digital board and it will go a very long way to share ideas and brain storm with the directors, doctors and management teams of the hospital, this digital version will make life so much easier.” According to the manager of hospital.

UEFA Foundation was founded in 2015 as a charitable organization governed under Swiss law, with a long-standing philosophy that aligns with the concepts of youth care and social responsibility of Hisense. During the EURO 2024 tournaments, fans also noticed “BECAUSE EVERY CHILD IS A CHAMPION” slogan on the LED board at the pitch side, which perfectly coincides with the “Faith In Young Champions” proposal called upon by Hisense this year, also making the collaboration more possible.

Carine Nkoue, General Secretary of the UEFA Foundation, said, “Football is not only the number one sport in the world but is also a great platform to create solidarity projects for those in need. I would like to encourage all of you to join the activities of the UEFA Foundation for children and become a supporter of this global initiative. With Hisense’s support and the solidarity of the European football family, we can achieve even more.”

Engaging in charitable endeavors and fulfilling corporate social responsibility has long been a cornerstone of Hisense’s corporate culture. The company has proactively allocated resources towards public welfare initiatives with the concept of helping everyone enjoy every moment of life with user-centric technology.

Thanks to its global presence in the diversity industries, Hisense is empowered to take on a broad range of social responsibilities to enhance healthcare and education standards worldwide. Hisense exports ultrasound and other equipment to over 20 countries in Asia, Central and Eastern Africa, and Europe to meet a diverse range of those in needs. Hisense’s commercial display products have also gained market traction in over 40 countries, including Europe, the United States, and the Asia-Pacific region.

For many years, Hisense has actively participated in public welfare activities initiated by world-class sports events. The collaboration this time is a spiritual inspiration to upgrade the CSR campaign from product sponsorship to beyond time and space.

Looking ahead, Hisense and UEFA Foundation will keep working to advance their philanthropic efforts and provide greater benefits to various regions around the world by leveraging their respective resources. 

About Hisense
Hisense is a leading global home appliance and consumer electronics brand. Hisense’s business covers multimedia products (with a focus on Smart TVs), home appliances, and IT intelligent information. Hisense ranked No. 2 globally for TV shipments and No. 1 in 100″ TVs in both 2023 and Q1 2024, and now operates in more than 160 countries.

 

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SOURCE Hisense Group

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