Global Chemical Storage Cabinets Market 2018-2022| Growth Analysis and Forecast| Technavio

Technavio analysts forecast the global
chemical storage cabinets market 2018-2022 to grow at a
CAGR of around 3% during the forecast period, according to their
latest market research report.

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Technavio has published a new market research report on the global chemical storage cabinets market from 2018-2022. (Graphic: Business Wire)

The growing global specialty chemicals market is one of the major trends
being witnessed in the global chemical storage cabinets market. The
demand for specialty chemicals is increasing because of their growing
use in several applications in construction, food, cosmetics,
agriculture, and textile industries. Specialty chemicals include foaming
agents, adhesives, agrochemicals, and polymers.

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In this report, Technavio analysts highlight the increase in global
chemical shipments as a key factor contributing to the growth of the
global chemical storage cabinets market:

Global chemical storage cabinets market:
Increase in global chemical shipments

The demand for chemicals is increasing due to the substantial growth of
packaging, pharmaceutical, and food and beverage industries. Chemicals
are used as raw materials or intermediate products in industries for the
production of finished materials such as chemical fertilizers, plastics,
and synthetic rubber. In 2017, the chemical shipments in the US were
valued at over USD 750 billion.

According to a senior market research analyst at Technavio, “In 2017,
organic chemicals held a dominant share of over 43% in the US. During
the forecast period, the shipment of organic chemicals is anticipated to
post a year-over-year growth of 2%-3% in the US. Similarly, the sales of
chemicals in Asia accounted for nearly 62% of the worldwide sales owing
to the strong contribution from China and South Korea.”

Global chemical storage cabinets market:
Americas leads the market

This market research report segments the global chemical storage
cabinets market into the following end-users (C&P industry, O&G
industry, and manufacturing industry) and key regions (the Americas,
APAC, and EMEA). It provides an in-depth analysis of the prominent
factors influencing the market, including drivers, opportunities,
trends, and industry-specific challenges.

The Americas was the leading region for the global chemical storage
cabinets market in 2017. It accounted for a market share of more than
36%. It was followed by APAC and EMEA. APAC is expected to project the
fastest growth during the period 2018-2022.

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Technavio’s sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

About Technavio

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research and analysis focuses on emerging market trends and provides
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View source version on businesswire.com: https://www.businesswire.com/news/home/20180710005772/en/

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