Hazardous Goods Logistics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

TheHazardous Goods Logistics Market is anticipated to register a CAGR greater than 6% during the forecast period. COVID-19 has a significant favorable impact on the global commerce of medical and pharmaceutical products such as sanitizers, vaccines, and other such items. Weak global demand, supply chain disruptions, reduced consumer spending, and reduced tourism are all leading to significant losses in both trade and GDP. The chemicals and petrochemicals industries have been influenced by the record low oil prices in 2020. Lockdowns have resulted in lower demand for fuels, which has resulted in lower production of several chemicals that are often exclusively produced through coproduction processes. In 2020, overall organic chemical commerce was 10% lower than in 2019.

Propylene is the world's second-largest chemical by volume. Northeast Asia dominates the global propylene commerce. In 2019, the region exported 52 percent of global goods and imported 61 percent of global goods. About 87 percent of regional propylene imports have come from China. China was the world's largest importer of crude oil (USD 204 billion) in 2019.

In 2020, Germany (EUR 48 billion), the Netherlands (EUR 37 billion), and Belgium (EUR 36 billion) imported more than EUR 30 billion of chemicals from outside the European Union. In 2020, five European Union member states exported more than EUR 30 billion worth of chemicals outside of the Europe Union. Germany (EUR 105 billion), Ireland (EUR 55 billion), Belgium (EUR 51 billion), France (EUR 45 billion), and Netherlands (EUR 41 billion) were the top five. In 2020, Germany had the greatest chemical trade surplus of any EU member state (EUR 57 billion), followed by Ireland (EUR 40 billion), France (EUR 30 billion), and the United Kingdom (EUR 30 billion) (EUR 26 billion). Romania had the highest budget deficit (EUR 1 billion).

Scope of the Report

Corrosive, flammable, explosive, spontaneously combustible, poisonous, oxidizing, or water-reactive compounds are classified as hazardous goods. These goods have the potential to be lethal, causing serious injury or death to people, as well as causing damage to property and the environment. Logistics refers to the overall process of managing how resources are acquired, stored, and transported to their final destination. 

A comprehensive background analysis of the Hazardous Goods Logistics Market covering the current market trends, restraints, technological updates, and detailed information on various segments, competitive landscape of the industry and the impact of COVID-19 has also been incorporated and considered during the study.

Hazardous Goods Logistics Market is segmented by Service (Transportation, Warehousing and Distribution, Value-added Services), by Destination (Domestic, International), by Geography (Asia-Pacific, North America, Europe, Latin America, Middle East & Africa). The report offers market size and forecasts for the market in value (USD billion) for all the above segments.

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Key Market Trends

Production and International Trade of Chemicals from Europe Boosting Hazardous Logistics Market

Road freight transport is the prime mode of transport in Europe. Concerning road transport, the transport of dangerous goods in the European Union (EU-28) continued to increase between 2009 and 2019, the overall value of solid chemical manufacturing climbed by EUR 221 billion. The average annual growth rate from 2009 to 2019 was 4.2 percent, resulting in a peak of EUR 644.4 billion in 2020, up slightly from EUR 641.9 billion in 2019. Chemical imports into the European Union have increased from EUR 154 billion in 2010 to EUR 233 billion in 2020. During the period 2015–2020, the European Union's chemical trade surplus grew from EUR 126.6 billion in 2015 to EUR 178 billion in 2020. When it comes to key international players in the chemicals trade, the European Union topped the list in 2020 with a total trade of EUR 644.4 billion, made up of EUR 411.4 billion in exports and EUR 233 billion in imports, resulting in the greatest trade surplus (EUR 178.4 billion).

The United States was the top importer (EUR 243 billion) and the second-largest exporter (EUR 201 billion). With EUR 196 billion in imports and EUR 145 billion in exports, China was the third-largest importer and exporter in the world. In 2020, the European Union's three major chemical export and import partners were the United States, Switzerland, and the United Kingdom. The EU had a trade surplus with eight of its ten largest trading partners, including the United States (EUR 61 billion), Russia (EUR 13 billion), and the United Kingdom (EUR 11 billion). Trade deficits with Switzerland (EUR 13 billion) and South Korea were recorded (EUR 2 billion). Due to the impact of covid-19, the main product group in the chemical trade will be 'Medical and pharmaceutical products in 2020. It has a 52 percent share of exports and a 40 percent share of imports. The only other group with a share of more than 10% is 'Organic chemicals,' which accounts for 12% of exports and 23% of imports.

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