North America Chemical Distribution Market: Growth Prospects 2024-2032
Triton’s research analysis states that the chemical distribution market in North America is expected to generate revenue at a CAGR of 6.60% during the forecast period 2024-2032.
In North America, the demand for chemical distribution system is driven by growth in key industries like automotive, construction, healthcare, agriculture, and manufacturing. Distributors providing tailored solutions and cost-effective logistics appeal to manufacturers aiming to optimize their supply chains. In this regard, the Alliance for Chemical Distribution has organized ‘ChemEdge 2024’, a trade show and conference to provide training and address issues associated with chemical distributors, warehouses, manufacturers, and service support companies. Such initiatives influence the expansion of the studied market.
The United States holds the largest market share, achieving $34.31 billion in 2023.
The growing usage of chemicals in downstream operations and construction has led to a demand for chemicals in the US market.
A survey by C&EN stated that the combined sales of the top 50 US chemical producers was $376.7 billion in 2022, an 11.4% increase from a year ago.
This growth indicates a rising demand for chemicals, thereby boosting the chemical distribution market as distributors are needed to manage and supply the increasing volume of chemical products.
Chemical Distribution Market Forecast for Canada
Manufacturing fertilizers requires industrial chemicals to boost crop production. Amidst the increasing population, food production needs to increase by 70% by 2050, which necessitates a growing demand for fertilizers. The fertilizer sector contributes $23 billion annually to the Canadian economy and exports to 75 countries worldwide. Thus, increasing demand for fertilizers will drive the chemical distribution market in the given forecast period.
The market for chemical distribution is categorized into end-use. The end-use segment comprises commodity chemicals and specialty chemicals. Agrochemicals, such as plant-incorporated protectants, biochemicals, and microbial fertilizers, are made with the help of specialty chemicals. This helps to boost crop development without posing a health risk to humans or lowering soil fertility.
The important contenders in the chemical distribution market are Univar Solutions Inc, Brenntag Se, Helm Ag, Barentz, Jebsen & Jessen Ingredients, Azelis Group NV, Caldic BV, Omya International Ag, Safic Alcan, Ter Chemicals Gmbh & Co Kg, ICC Industries Inc, and Manuchar Nv.
ICC Chemical Corporation trades and distributes chemicals, plastics, and pharmaceuticals throughout the world. The company has expertise in transporting, purchasing, and financing imported products, which allows it to offer the highest quality materials to its European and North American customers at competitive prices. It is headquartered in New York City and has business operations across 25 offices and representatives worldwide.
Latest in the Chemical Distribution Market:
In March 2024, Univar Solutions LLC, a leading global solutions provider of specialty ingredients and chemicals, announced the acquisition of Valley Solvents & Chemicals Company. This acquisition has strengthened the North America Chemical Distribution division and its market expertise in Industrial, energy, and environmental science.