According to a recent report from Grand View Research, the global chemical distribution market was estimated to be $247.1 billion last year and is projected to see robust growth (5.4% CAGR) to 2028. The distribution of specialty chemicals, such as those used in CASE (coatings, adhesives, sealants, and elastomers) and other sectors, is expected to be the fastest-growing segment of the market, reaching $139 billion in that timeframe.

Earlier this year, BASF received the German Innovation Award 2021 in the Excellence in Business to Business-Chemical Industry category for a project involving the use of smart intermediate bulk containers (IBCs). These awards are presented by the German Design Council to recognize aspects of product innovation within different industries that offer additional benefits compared with previous solutions.

What do distributors of raw materials and chemicals consider to be the primary challenges facing materials producers and purchasers? How can distributors help companies all along the supply chain understand and navigate the various forces impacting the industry? To find answers to these questions (and others), we reached out to leaders in the distribution industry.

Not surprisingly, the global economic recovery is continuing more quickly in regions where COVID-19 is under control and vaccinations have been widely rolled out. After an estimated contraction of 3.3% in 2020, the global economy is projected to grow at 6% in 2021, moderating to 4.4% in 2022, according to the International Monetary Fund (IMF).