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NAICS Code 424690-20 Description (8-Digit)

Chemicals (Wholesale) is a subdivision of the Other Chemical and Allied Products Merchant Wholesalers industry. This industry involves the wholesale distribution of chemicals, including industrial chemicals, agricultural chemicals, and pharmaceuticals. Companies in this industry purchase bulk chemicals from manufacturers and distribute them to various end-users, such as manufacturers, government agencies, and research institutions. The chemicals distributed by these companies are used in a wide range of applications, including manufacturing, agriculture, healthcare, and research.

Hierarchy Navigation for NAICS Code 424690-20

Tools

Tools commonly used in the Chemicals (Wholesale) industry for day-to-day tasks and operations.

  • Chemical pumps
  • Chemical hoses
  • Chemical storage tanks
  • Chemical mixers
  • Chemical meters
  • Chemical analyzers
  • Chemical safety equipment
  • Chemical spill kits
  • Chemical labels and signs
  • Chemical handling gloves

Industry Examples of Chemicals (Wholesale)

Common products and services typical of NAICS Code 424690-20, illustrating the main business activities and contributions to the market.

  • Industrial chemicals
  • Agricultural chemicals
  • Pharmaceutical chemicals
  • Laboratory chemicals
  • Cleaning chemicals
  • Water treatment chemicals
  • Adhesives and sealants
  • Paints and coatings
  • Food additives
  • Cosmetics ingredients

Certifications, Compliance and Licenses for NAICS Code 424690-20 - Chemicals (Wholesale)

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

  • OSHA Hazard Communication Standard: This certification is required for all employees who work with hazardous chemicals. It ensures that employees are aware of the hazards of the chemicals they work with and how to protect themselves. The certification is provided by the Occupational Safety and Health Administration (OSHA).
  • EPA Toxic Substances Control Act (TSCA) Certification: This certification is required for companies that manufacture, import, or process chemicals in the US. It ensures that the chemicals are safe for human health and the environment. The certification is provided by the Environmental Protection Agency (EPA).
  • DOT Hazardous Materials Transportation Certification: This certification is required for companies that transport hazardous materials. It ensures that the materials are transported safely and in compliance with federal regulations. The certification is provided by the Department of Transportation (DOT).
  • ISO 9001:2015 Quality Management System Certification: This certification is not specific to the chemical industry but is relevant for companies that want to demonstrate their commitment to quality management. It ensures that the company has a quality management system in place that meets international standards. The certification is provided by the International Organization for Standardization (ISO).
  • Responsible Care Certification: This certification is specific to the chemical industry and is provided by the American Chemistry Council (ACC). It ensures that companies are committed to the safe handling and use of chemicals and the protection of human health and the environment.

History

A concise historical narrative of NAICS Code 424690-20 covering global milestones and recent developments within the United States.

  • The "Chemicals (Wholesale)" industry has a long and rich history dating back to ancient times when people used natural substances like salt, sulfur, and mercury for various purposes. The industry has come a long way since then, with the discovery of new chemicals and the development of new technologies. In the 19th century, the industry saw significant growth with the discovery of synthetic dyes, which led to the development of new products like textiles, plastics, and pharmaceuticals. In the 20th century, the industry continued to grow with the development of new chemicals like fertilizers, pesticides, and herbicides. In recent years, the industry has seen a shift towards more sustainable and environmentally friendly products, with a focus on reducing waste and carbon emissions. In the United States, the "Chemicals (Wholesale)" industry has a more recent history, with significant growth occurring in the post-World War II era. The industry saw a boom in the 1950s and 1960s with the development of new chemicals like plastics, synthetic fibers, and detergents. In the 1970s, the industry faced increased regulation due to concerns about pollution and environmental damage. In response, the industry began to focus on developing more sustainable and environmentally friendly products. In recent years, the industry has continued to grow, with a focus on innovation and new technologies. The industry has also faced challenges from increased competition and changing consumer preferences. Overall, the "Chemicals (Wholesale)" industry has a rich and complex history, with many notable milestones and advancements.

Future Outlook for Chemicals (Wholesale)

The anticipated future trajectory of the NAICS 424690-20 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

  • Growth Prediction: Stable

    The future outlook for the Chemicals (Wholesale) industry in the USA is positive. The industry is expected to grow due to the increasing demand for chemicals in various sectors such as agriculture, construction, and healthcare. The growth of the construction industry is expected to drive the demand for chemicals used in construction materials such as adhesives, coatings, and sealants. The increasing demand for food and beverages is expected to drive the demand for chemicals used in food processing and packaging. The healthcare industry is also expected to drive the demand for chemicals used in pharmaceuticals and medical devices. The industry is also expected to benefit from the increasing focus on sustainability and the development of eco-friendly chemicals. However, the industry may face challenges such as increasing competition, regulatory changes, and supply chain disruptions due to the COVID-19 pandemic.

Industry Innovations for NAICS Code 424690-20

Recent groundbreaking advancements and milestones in the Chemicals (Wholesale) industry, reflecting notable innovations that have reshaped its landscape.

  • Development Of Eco-Friendly Chemicals: The industry has witnessed the development of eco-friendly chemicals that are less harmful to the environment and human health. These chemicals are being used in various sectors such as agriculture, construction, and healthcare.
  • Use Of Automation and Robotics: The industry has started to adopt automation and robotics to improve efficiency and reduce costs. This has led to the development of automated warehouses and robotic systems for handling and transporting chemicals.
  • Increasing Use Of Data Analytics: The industry has started to use data analytics to improve supply chain management, optimize inventory levels, and reduce costs. This has led to the development of software solutions for chemical inventory management and logistics optimization.
  • Development Of New Applications for Chemicals: The industry has witnessed the development of new applications for chemicals in various sectors such as energy storage, electronics, and aerospace. This has led to the development of new chemicals and formulations that meet the specific requirements of these sectors.
  • Increasing Focus on Safety and Compliance: The industry has started to focus more on safety and compliance due to increasing regulatory requirements and customer demands. This has led to the development of safety training programs, safety equipment, and compliance management systems.

NAICS Code 424690-20 - Chemicals (Wholesale)

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