Chemical As A Service Market, By Type, By Application, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2023-2030
Chemical As A Service Market size was valued at USD 7,892 Million in 2022, expanding at a CAGR of 8.0% from 2023 to 2030.
Chemical companies are shifting from selling products (paid in weight or volume) to providing services (paid in proportion to a specified service level). This shift is known as chemicals as a service (CaaS). Customers gain from lower initial costs, more predictable expenses, and less hassle with product maintenance, while suppliers gain from scale effects, customer lock-in, and higher margins from additional sales of value-added services (like maintenance or insurance) included in the service package.
Chemical As A Service Market- Market Dynamics
Increasing implementation of CMS drives market expansion
One of the main factors driving the chemical as a service market value is the growing use of chemical management services (CMS). Chemical management services lower the usage, expense, emissions, and liability associated with chemicals. In addition to lowering expenses and trash, these services additionally reduce accidents and environmental problems. Technology is becoming more and more dependent on chemicals, and many of the materials needed to deploy new technologies are dangerous. The International Labour Organization (ILO) states that the main cause of mortality for workers is occupational illnesses. It is projected that dangerous chemicals claim the lives of 651,279 individuals annually.
Chemical As A Service Market- Key Insights
As per the analysis shared by our research analyst, the global Chemical As A Service market is estimated to grow annually at a CAGR of around 8.0% over the forecast period (2023-2030)
The Chemical As A Service industry is projected to grow at a significant rate due to the increasing demand from various end-use industry
Based on type segmentation, the Chemical Management Services segment is expected to dominate the market during the forecast period
Based on application segmentation, the Paint & Coatings segment is expected to capture a substantial market share during the forecast period
Based on region, North America is expected to dominate the market during the forecast period
Chemical As A Service Market- Segmentation Analysis:
The Global Chemical As A Service Market is segmented based on Type, Application, and Region.
Based on the type, the market is bifurcated into Chemical Leasing and Chemical Management Services. The Chemical Management Services segment is expected to dominate the market during the forecast period. Under the CMS business model, a service provider is in charge of overseeing and streamlining a client's chemical-related operations. This covers the finding, acquiring, handling, storing, and discarding of chemicals used in a range of industrial applications. Chemical sourcing and procurement are strategically handled by CMS, which frequently results in cost savings through bulk purchases and effective supplier management. Thereby, driving the market growth.
Based on the application, the industry is segmented into Water Treatment & Purification, Agriculture & Fertilizer, Paint & Coatings, Industrial Cleaning, Metal Parts Cleaning, Industrial Gases and Others. The Paint & Coatings segment is expected to capture a substantial market share during the forecast period. In the paint and coatings sector, CaaS may entail offering specially formulated chemical solutions that are suited to the unique requirements of paint producers. This might include various specialty chemicals utilized in coating manufacture, additives, resin formulations, and pigment dispersions.
Chemical As A Service Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market during the forecast period. The United States has a sizable chemical sector, which is responsible for the expansion. In addition, the area is home to several significant sectors, including aerospace, automotive, and healthcare. In the following years, it is anticipated that the aforementioned sectors will use this business model for tasks like washing, degreasing, and cleaning metal parts. Besides, the Asia Pacific is expected to grow at the fastest rate during the forecast period. This is because several small, medium, and big businesses are involved in the water treatment, paints and coatings, agrochemical and fertilizer industries, and other related fields. Furthermore, the region's growing industrialization, particularly in nations like South Korea, Japan, China, and India, is anticipated to propel the market.
Chemical As A Service Market- Competitive Landscape:
The key players operating in the Chemical As A Service market are Polikem, Haas TCM, Sphera, CSC JAKLECHEMIE GmbH & Co. KG, Diversey Holdings Ltd., Ecolab Inc., Hidrotecnik, BASF SE, Henkel AG & Co. KGaA, PPG Industries, Safechem Europe Gmbh and Quaker Chemical among others. These market players adopted various strategies including product launches, acquisitions, partnerships and others to remain competitive in the market.
Recent Developments:
In May 2022, Sphera, a well-known international supplier of data, software, and consulting services, and BASF established a strategic alliance. Through this partnership, chemical and manufacturing businesses will be able to quickly, accurately, and efficiently assess the carbon footprints of every product in their portfolio due to a complete and automated system.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL CHEMICAL AS A SERVICE MARKET KEY PLAYERS
Polikem
Haas TCM
Sphera
CSC JAKLECHEMIE GmbH & Co. KG
Diversey Holdings Ltd.
Ecolab Inc.
Hidrotecnik
BASF SE
Henkel AG & Co. KGaA
PPG Industries
Safechem Europe Gmbh
Quaker Chemical
GLOBAL CHEMICAL AS A SERVICE MARKET, BY TYPE
Chemical Leasing
Chemical Management Services
GLOBAL CHEMICAL AS A SERVICE MARKET, BY APPLICATION
Water Treatment & Purification
Agriculture & Fertilizer
Paint & Coatings
Industrial Cleaning
Metal Parts Cleaning
Industrial Gases
Others
GLOBAL CHEMICAL AS A SERVICE MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1. Chemical As A Service Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. Chemical As A Service Market Snippet by Type
2.1.2. Chemical As A Service Market Snippet by Application
2.1.3. Chemical As A Service Market Snippet by Country
2.1.4. Chemical As A Service Market Snippet by Region
2.2. Competitive Insights
3. Chemical As A Service Key Market Trends
3.1. Chemical As A Service Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Chemical As A Service Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Chemical As A Service Market Opportunities
3.4. Chemical As A Service Market Future Trends
4. Chemical As A Service Industry Study
4.1. PEST Analysis
4.2. Porter's Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Chemical As A Service Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Chemical As A Service Market Landscape
6.1. Chemical As A Service Market Share Analysis, 2022
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players' Analysis
6.2.2. Emerging Players' Analysis
7. Chemical As A Service Market - By Type
7.1. Overview
7.1.1. Segment Share Analysis, By Type, 2022 & 2030 (%)
7.1.2. Chemical Leasing
7.1.3. Chemical Management Services
8. Chemical As A Service Market - By Application
8.1. Overview
8.1.1. Segment Share Analysis, By Application, 2022 & 2030 (%)
8.1.2. Water Treatment & Purification
8.1.3. Agriculture & Fertilizer
8.1.4. Paint & Coatings
8.1.5. Industrial Cleaning
8.1.6. Metal Parts Cleaning
8.1.7. Industrial Gases
8.1.8. Others
9. Chemical As A Service Market- By Geography
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2022 & 2030 (%)
9.2. North America
9.2.1. Overview
9.2.2. Chemical As A Service Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.2.4. North America Market Size and Forecast, By Type, 2018 - 2030 (US$ Million)
9.2.5. North America Market Size and Forecast, By Application, 2018 - 2030 (US$ Million)