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Global Third-Party Chemical Distribution Market 2019-2023 | Growing Focus on Chemical Distribution 4.0 to Boost Demand | Technavio

January 8, 2019

LONDON--(BUSINESS WIRE)--Jan 8, 2019-- analysts forecast the global third-party chemical distribution market to grow at a CAGR of over 7% during the forecast period, according to their latest market research report.

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Technavio analysts forecast the global third-party chemical distribution market to grow at a CAGR of over 7% by 2023. (Graphic: Business Wire)

The positive impact of a trade war between the US and China on chemical manufacturers is one of the major trends being witnessed in the . In 2018, the ongoing trade war between US and China had a positive impact on the number of chemical products being exported to China, especially for companies operating in various developing economies, which has allowed several chemical distributors to globalize their service portfolio and gain a strong presence in China. One of the biggest consumers of chemical products is China, which has increased the demand for third-party chemical distributors in the country.

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According to Technavio analysts, one of the key factors contributing to the growth of the global third-party chemical distribution market is the growing focus on chemical distribution 4.0:

Global third-party chemical distribution market: Growing focus on chemical distribution 4.0

There is a considerable demand for digitalization of the overall chemical distribution supply chain owing to the advent of modern technologies in the global chemical market. Business requirements have changed along with evolving customer expectations, thereby resulting in increased adoption of digital technologies by chemical manufacturers as well as chemical distributors.

According to a senior analyst at Technavio for research on specialty chemicals, “The advent of digital technologies such as the Internet of Things (loT) and analytics can enable manufacturers and distributors to analyze large data volumes, automate processes and empower the workforce. The adoption helps in instilling agility into the system, optimizing operations, adhering to regulations and developing innovative business models. Moreover, the advent of online commerce also allows third-party chemical distributors to enter partnerships with digital retailers, thereby increasing the need for third-party chemical distributors.”

Global third-party chemical distribution market: Segmentation analysis

The global third-party chemical distribution market research report provides market segmentation by type (commodity chemicals and specialty chemicals) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The commodity chemicals segment held the largest market share in 2018, accounting for nearly 71% of the market. This type segment is expected to dominate the global market throughout the forecast period.

APAC led the market in 2018 with a market share of over 41%. This region is expected to dominate the market through 2023, with over 2% increase in its market share.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About 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 10,000 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.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20190108005471/en/

CONTACT: Technavio Research

Jesse Maida

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UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT TRANSPORT MANUFACTURING LOGISTICS/SUPPLY CHAIN MANAGEMENT CHEMICALS/PLASTICS

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 01/08/2019 05:50 AM/DISC: 01/08/2019 05:50 AM

http://www.businesswire.com/news/home/20190108005471/en

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