HAZARDOUS GOODS LOGISTICS MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

• The hazardous goods logistics market is estimated to witness steady growth over the forecast period.
• Hazardous materials make up a significant portion of the global freight, because they include many widely used commodities and products. Gasoline and other petroleum products are estimated to account for a significant share. Transport of hazardous materials requires special precautions, handling, and packaging. There are specialized safety regulations, standards, and reporting systems in place for pipelines, rail, highway, air, and marine vehicles that transport hazardous materials. These special requirements recognize the incidents involving in the transportation of hazardous materials, which can affect the environment, in addition to the potential risks of injuries and deaths. In case of the United States, in 2017, about 17,400 hazardous materials incidents (excluding pipeline incidents) were reported by the USDOT Pipeline and Hazardous Materials Administration (PHMSA), down from about 18,200 in 2016. About 1.6% of hazardous materials transportation incidents in 2017 resulted from an accident (e.g., vehicular crash or train derailment). About 90% of these accidents happened on highways or in truck terminals.
• Concerning dangerous goods logistics, some policies and standards are set into place. International organizations, domestic institutions, as well as major aviation divisions, and shipping divisions have issued more stringent new policies for the management of dangerous goods logistics. The implementation of these new policies is expected to provide better security for the transportation of dangerous goods, but correspondingly, a more standardized and comprehensive inspection and more stringent logistics requirements have a direct impact on the trade of dangerous goods. Packaging plays a crucial role in the transportation of dangerous goods. In the case of air shipping of HAZMAT, aviation safety is dependent on correct packaging. The development of the dangerous goods logistics market is also mainly due to the rapid development of the petrochemical industry. The growth in the petrochemical industry is robust, owing to the increasing product application in the major end-user industries.

Scope of the Report

A complete background analysis of the global hazardous goods logistics market, which includes an assessment of the sector and contribution of sector in the economy, market overview, market size estimation for key segments, key countries and emerging trends in the market segments, market dynamics, and key goods flow statistics.

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Key Market Trends

Growth in the Oil and Gas Industry

The global oil demand rose by 1.3% in 2018, led by strong growth in the United States industry. The launching of large petrochemical projects drove the product demand, which partially offset a slowdown in the growth in gasoline demand. The United States and China showed the largest overall growth, while demand fell in Japan and Korea and was stagnant in Europe. The United States showed the largest overall growth at 540 kb/d, followed by China. The strong expansion of petrochemical demand in the United States boosted consumption, which also benefited from a rise in industrial production and very strong demand for trucking services. According to the International Energy Agency, the United States may drive global oil supply growth over the next five years, overtaking Russia and challenging Saudi Arabia as the world’s leading oil producer. The gas and oil industry relies on shipping companies and third-party logistics providers to move complicated freight shipments around the world, which also involve special logistics services for the transport of dangerous goods.

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