14% annualized growth projection for global chemical logistics

Technavio market research analysts recent forecast, the global chemical logistics market, has projected a CAGR of 14% during for the business between 2016 to 2022. The increased demand for the customized green warehouse will drive the demand for the global chemical logistics market during the forecast periodLogistics companies such as Deutsche Post World Net have rolled out green initiatives in transportation, warehousing, and distribution operations in a bid to reduce their carbon footprint by 30% by 2020.

According to a senior analyst at Technavio for logistics research, “The shift of the chemical logistics industry to emerging Asian countries is likely to propel market growth as many new LSPs will enter the Asian market, which will strengthen the global chemical logistics market. In fact, the global sale of chemicals in Asia accounted for close to 62% in 2016 due to the presence of many emerging economies such as China, India, Singapore, Malaysia, and Vietnam. The chemical sales in the region are expected to grow further to reach close to 65% by 2030.”

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