Chemical As A Service Market size is anticipated to reach USD 13.7 billion by 2028

 Chemical As A Service Industry Overview

The global chemical as a service market size was valued at USD 7.5 billion in 2020 and is anticipated to expand at a compounded annual growth rate (CAGR) of 7.7% from 2021 to 2028. The market growth is expected to be driven by the increasing demand for chemical leasing service, growing awareness regarding chemical sustainability, and government support. Moreover, rise in the demand for chemical management in the end-user industries is further accelerating market growth. The market experienced decline in the growth in 2020 compared to the previous year owing to the outbreak of the Coronavirus pandemic. 

 

However, the market has not experienced a negative growth owing to the significant demand for surfactants, surface disinfectants, and cleaning chemicals in 2020. Major challenges for the players operating in the CaaS market include raw material sourcing, price fluctuations, government regulations regarding disposal, revival period for end-use industries, and cost of chemical production. Chemical as a service is a business model in which a customer can get the benefit from chemicals and their functions and applications without purchasing the chemicals. In this service model, the supplier does not sell them in quantities, instead, he sells the function and performance of the chemicals. The supplier provides services of chemicals for various applications in the end-user industries. 

 

Gather more insights about the market drivers, restrains and growth of the Global Chemical As A Service Market

 

The model includes Chemical Management Services (CMS), chemical leasing, and closed-loop systems. The growing chemical industry in developing countries such as India, China, and Brazil is one of the driving factors for the growth of the market. Companies operating in this market provide end-to-end services including logistics, development of specific chemicals, processes, and applications. The companies also provide services such as chemical and waste management. The chemical service providing companies are offering these services for various applications in different industries such as agricultural and fertilizer, water treatment and purification, metal parts cleaning, paint and coatings, industrial cleaning, industrial gases, and more.

 

The chemical as a service is a new business model. Thus, limited companies are offering these services at the global level. According to United Nations Industrial Development Organization (UNIDO), around 100 companies have integrated chemical leasing in their business strategies worldwide. The majority of the players in this market are operating at the local and regional levels only. However, few players are operating at the global level. For instance, Diversey Holdings LTD. a U.S.-based company is offering chemical leasing services worldwide. There is a huge opportunity for these services from the untapped markets. In the developed market such as the U.S., factors such as the presence of large chemical, automotive, fertilizer, among other industries are expected to drive the market.

 

Browse through Grand View Research's Organic Chemicals Industry Research Reports

  • Ketones Market: The global ketones market was valued at USD 22.06 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.6% from 2022 to 2030. 
  • Insoluble Sulfur Market: The global insoluble sulfur market size to be valued at USD 1.2 billion by 2027 and is expected to grow at a compound annual growth rate (CAGR) of 2.9% during the forecast period. 

 

Chemical As A Service Market Segmentation

Grand View Research has segmented the global chemical as a service market on the basis of end-user industry and region:

Chemical As A Service End-user Industry Outlook (Revenue, USD Million, 2017 - 2028)

  • Agriculture & Fertilizer
  • Water Treatment & Purification
  • Metal Parts Cleaning
  • Paint & Coatings
  • Industrial Cleaning
  • Industrial Gases
  • Others

Chemical As A Service Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

 

Key Companies Profile

Some of the prominent players in the global chemical as a service market include:

  • Diversey Holdings Ltd.
  • Henkel AG & Co. KGaA
  • Safechem Europe Gmbh
  • CSC JÄKLECHEMIE GmbH & Co. KG
  • Polikem
  • Ecolab Inc.
  • Hidrotecnik
  • BASF SE
  • Haas TCM
  • PPG Industries
  • Sphera
  • Quaker Chemical

 

Order a free sample PDF of Chemical As A Service Market Intelligence Study, published by Grand View Research. 

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