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 per...