Global Chemical Storage Cabinets Market Share Is Expected To Grow At A CAGR Of 2.5% By 2026

21-Feb-2020 | Facts and Factors

Facts and Factors has authored “Chemical Storage Cabinets Market By Type (30 L, 45L, 60L, 90L, Others) and By Application (Petrochemical, Dye, Solvent, Others): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026”. Based on our analysis, the global Chemical Storage Cabinets market in 2019 is approximately USD 1.5 Billion and is anticipated to reach around USD 1.8 Billion by 2026. The anticipated CAGR for the market is around 2.5% from 2020 to 2026.

Chemical storage cabinets are the cupboards that are used for storing chemicals safely. It is observed that major accidents in the chemical industry are happened due to improper storage of chemicals. Poor Storage of chemicals can raise the risk of hazards. It can cause a major hazard to employees working in the company. The use of a chemical storage cabinet lowers the risk of any misshapen. It also provides safety during the transportation of chemical materials.

Browse the full “Chemical Storage Cabinets Market By Type (30 L, 45L, 60L, 90L, Others) and By Application (Petrochemical, Dye, Solvent, Others): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026" report at https://www.fnfresearch.com/chemical-storage-cabinets-market-by-type-30-l

Growing global specialty chemicals production and demand are anticipated to drive the global chemical storage cabinets market. According to the report by McKinsey, the global market of specialty chemicals is doubled than the last decade. An increase in chemical shipments will drive the market growth of chemical storage cabinets to transport the chemical material via rail, truck and marine cargo shipments chemical manufacturers will need chemical storage cabinets. However, stringent regulation on the manufacturing of chemical storage cabinets is anticipated to hamper the growth of the chemical storage cabinets market. A company needs to follow HAS and COSHH regulations while designing and manufacturing of chemical storage cabinets. But building a fireproof chemical storage container for flammable liquids can provide new opportunities in the market. Recently, Ecosafe announced the new launch of 105 minutes of fire-resistant cabinets.

Report Scope

The chemical storage cabinets market is divided into different segments by type and application. The type segment is divided into 30L, 45L, 60L, 90L, and other categories. The big size of 90L cabinets and the larger amount of volume available for storage attracted the end-users. The petrochemical industry is anticipated to be the major consumer of chemical storage cabinets as the industry requires a large amount of storage of chemicals.

Asia Pacific region held the largest share of the global chemical storage cabinets market followed by the North America region. Asia Pacific region specialty chemicals market is anticipated to grow at a CAGR of 5.4% in upcoming years and hence is expected to drive the Asia Pacific chemical storage cabinets market. According to the report by PWC, global specialty chemicals maintained its dominance with a 61% contribution to deal value in 2018Industrialization in Asia-Pacific supplemented by low labor cost and economic growth also drives demand.

The major market players of the Chemical Storage Cabinetsmarket are, Erlab, Justrite, Denios, Köttermann GmbH & Co KG, Air Science, Saftey Storage Systems, Ecosafe, and others.

This report segments the chemical storage cabinets market as follows:

Global Chemical Storage Cabinets Market: By Type Segment Analysis

• 30 L
• 45 L
• 60 L
• 90 L
• Others

Global Chemical Storage Cabinets Market: By Application Segment Analysis

• Petrochemical
• Dye
• Solvent
• Others

Global Chemical Storage Cabinets Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-East Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• The Middle-East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle-East Africa

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