It is a good time for logistics companies to be in the business of moving dangerous goods, according to a number of recent research studies.360 Research Reports predicts that the Global Dangerous Goods Logistics market will “rise at a considerable rate” up to the end of its forecast range in 2029. It is estimated that the market will be worth $383billion by 2030 – up from $200bn in 2021. This is supported by a report published by Allied Market Research, which estimates that the global hazardous goods logistics market generated $200bn in 2021, and is projected to reach $382.9bn by 2031, growing at a compound annual growth rate (CAGR) of 7% from 2022 to 2031.Covid created opportunities for the logistics companies specialising in dangerous goods, according to Market Research Future (MRFR).It cites the European Industrial Gases Association, which reportedthat the demand for medical oxygen increased by five to 10 times during the height of hospitalisation. There was also an increase in demand for the transport of goods such as radiopharmaceuticals for nuclear medicine, infectious substances/hospital samples/biological specimens, healthcare hazardous substances, and clinical waste. However, petrochemicals provide the mainstay for the hazardous goods logistics industry.The consensus is that the f lammable segment accounts for around 33% of the global dangerous goods logistics market –a share it is expected to retain.Mordor Intelligence says propylene is the world's second-largest chemical by volume. Northeast Asia dominates the global propylene commerce. About 87% of the region’s propylene imports are sourced from China. Growth areas up to 2031 identified by Allied are:•Bio-hazard goods, with a CAGR of 8.1% •Healthcare, with a CAGR of 7.8%Drivers of the market identified by ResearchAndMarkets.com include:•Rise in the oil and gas industry•More stringent government rules and regulations for hazardous goods transportation•Increase in the transportation of nuclear medicinesIn 2021 the Asia-Pacific region held the largest market share, accounting for a third of global shipments of hazardous goods.It is expected to remain the prime market, with a CAGR of 8.5% to 2031.Key logistics companies identified by the researchers include Agility, Bollore Logistics, CEVA Logistics, DB Schenker, DGD Transports, DHL Supply Chain, DSV, GEODIS, Hellmann Worldwide Logistics, Kuehne + Nagel, Rhenus Logistics, Toll Holdings, YCH Group, United Parcel Service of America, XPO Logistics, Yellow Corporation, and Yusen Logistics Co.
