Market Size of Europe Chemical Logistics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.06 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Chemical Logistics Market Analysis
The europe chemical logistics market size is expected to grow from USD 58.58 billion in 2023 to USD 78.62 billion by 2028, at a CAGR of 6.06% during the forecast period (2023-2028).
Logistics is an essential segment of supply chain management. A safe and reliable logistics system is an important aspect of the chemical industry. The manufacturing and consumption geography of the chemical industry are mostly separated. Therefore, logistics plays a part in the chemical industries' efficient, competitive, and sustainable market development.
The COVID-19 pandemic had a negative impact on the EU chemical industry. During the first half of 2020 (January-June), chemical output in the EU27 dropped by 5.2% compared to 2019 levels, with the lowest point reached in April 2020. In June 2020, a 2.9% output growth was registered compared to May 2020, showing some early and modest signs of recovery. Output results of the first four months (January to April) of 2021 increased by 5.2% compared to the same period in 2020. This was due to disruptions in the supply chain of raw materials. As the lockdowns were relaxed, there was a recovery in the EU chemical industry output in the early months of 2021.
The European chemical industry is in a strong position. It is a EUR 650 billion (USD 697 billion) industry made up of more than 28,000 companies, directly employing 1.2 million people and supporting a further 19 million jobs across its supply chain.
The chemical value chains are among the most resilient in Europe. The industry rose to expectations and delivered valuable support, such as with disinfectants supply. The chemical industry is Europe's biggest industrial consumer of electricity. As the impact of climate change takes increasing significance over the coming three decades, economies will need to switch to more renewable energy sources. Europe already has a keen lead in many areas of this technology. The electricity consumption by the EU27 chemical industry has fallen by 21% since 1990.
There has been an increase in chemical imports and exports, driving chemical logistics in the EU. In 2020, EU27 exported nearly EUR 169.3 billion (USD 180 billion) and imports worth almost EUR 128.8 billion (USD 137 billion), with chemical logistics playing a vital role in enhancing trade.
Europe has some of the biggest clusters of chemical parks. For example, Chempark is the largest chemical industry cluster in Europe, and every country has these clusters to transport raw materials, and end product transportation plays a vital role.
