Rapid growth of the chemical industry alongside other prominent industry verticals as a promising factor shaping the market outlook. Chemical manufacturing firms are rapidly transitioning toward third-party distributors to reduce supply chain complexities and tap into new opportunities, says Global Market Insights.

These trends have encouraged producers to establish strategic alliances with chemical distribution firms offering a range of value-added services such as outsourced formulations or inventory management, pushing the industry expansion.

Chemical distribution market from specialty chemicals is expected to exceed US$ 150 billion by 2030, driven by the heavy dependence on several end-use industries such as aerospace, cosmetics, manufacturing, textiles, automotive, food, and agriculture. These are a blend of two or more fine chemicals, producing a mixture with a distinctive function, and are used as ingredients in finished goods to enhance manufacturing processes. The rapid industrial growth led by the positive global economic outlook may help the segment gain significant impetus over the forecast period.

Medical and pharmaceutical segment market is likely to reach USD 33 billion by 2030, depicting over 4% CAGR during the analysis timeframe.

The rising investments across the healthcare sector and the emergence of several chronic health disorders have pushed the requirement for medical equipment as well as pharmaceutical products, including Active Pharmaceutical Ingredients, driving the market progression. The increasing utilization of chlorine for drug synthesis across the pharmaceutical industry may register lucrative gains for the chemical distribution industry in the years ahead.