The global chemical logistics market has charted an upward trajectory, expanding from $269.84 billion in 2022 to $279.31 billion in 2023, with a robust 3.5% compound annual growth rate (CAGR), says a report of the Business Research Company.

This growth is projected to continue on a progressive path, as the chemical logistics market size is anticipated to escalate to a substantial $317.88 billion by 2027, maintaining a notable 3.3% CAGR.

Driving this upward surge is the flourishing landscape of chemical production. A surge in chemical output, catering to industries ranging from food production and pharmaceutical manufacturing to automobile production and engineering, amplifies the demand for safe and efficient transportation and distribution services.

The American Chemistry Council cites a 3.2% rise in chemical volumes and an 8.2% increase in shipments in 2022. India's chemical sector echoes this growth, projecting an 18-23% revenue expansion in FY2022 and an expected leap to $304 billion by 2025, spurred by a 9.3% annual growth rate. Thus, heightened chemical production remains a potent driving force for the chemical logistics market.