WASHINGTON, Sept. 29, 2023 (GLOBE NEWSWIRE) — Global Chemical Distribution Market is valued at USD 248.9 Billion in 2022 and is projected to reach a value of USD 394.4 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 6.8% over the forecast period 2023-2030.
Get Access to Free Sample Research Report with Latest Industry Insights @OREnjoy a Fabulous 50% Discount with code “SEP50”! Don’t miss out on these incredible savings @The demand for specialty chemicals is increasing worldwide due to their enhanced functionality and unique characteristics. These chemicals are used in various applications, such as electronic devices, food and beverage, oil and gas, and personal care products. The expansion of these end-use industries increases the demand for specialty chemicals, which drives the growth of the chemical distribution market.Rapid urbanization and industrialization in emerging economies are driving the growth of the global chemical distribution market. As these countries continue to modernize, their need for raw materials and chemicals for various industries also increases. In addition, the expanding middle-class population in these regions also drives demand for different consumer products, increasing the demand for chemicals utilized in their production.Environmental concerns related to the use of chemicals have resulted in strict regulations for the manufacturing and distribution of chemicals. To comply with such regulations, chemical distributors invest in sustainable business practices, such as recycling and reducing waste and emissions. Companies are also adopting green chemistry practices to minimize the use of toxic and hazardous materials in the production of chemicals.
(GlobeNewsWire)