The chemical tankers market is driven by the increasing global demand for chemicals and bulk liquid transportation. Chemical tankers are specialized vessels designed to transport hazardous and non-hazardous liquids, including petrochemicals, acids, and edible oils. As global chemical trade continues to expand, particularly in emerging markets like Asia-Pacific, the need for safe and efficient chemical transportation is growing. The market is also influenced by trends toward fleet modernization, with chemical companies investing in more energy-efficient and environmentally friendly tankers. The demand for specialized tankers for certain chemicals, which require segregated storage and transport, is also on the rise. Key regions such as North America, Europe, and the Middle East play a crucial role in the chemical tankers market, with strong demand for shipping and logistics services.
According to the research report, the global chemical tanker market was valued at USD 32.85 billion in 2023 and is expected to reach USD 47.07 billion by 2032, to grow at a CAGR of 4.08% during the forecast period.
Key Market Trends:
- Rising Global Chemical Trade: Increased transport of bulk chemicals, especially in Asia-Pacific and the Middle East.
- Growth in Specialty Chemicals: Demand for segregated storage and transport of specialty chemicals.
- Emphasis on Fleet Modernization: Adoption of energy-efficient and eco-friendly tankers.
Key Companies in Chemical Tankers Market:
- MOL Chemical Tankers
- Wilmar International
- MISC Berhad
- Lino Kaiun Kaisha
- Nordic Tankers
- Berlin Laju Tanker
- Seatrans Chemical Tankers
- Odfjell
- Tokyo Marine Asia Pte. Ltd.
- JO Tankers
- Stolt-Nielsen Ltd.
- Team Tankers
- Bahri
- Sinochem
- Hansa Tankers
- Global Pump Marketing Inc.
- Market Actives LLC
- Aurora Tankers Management Pte. Ltd.
- TSM Group.
Growth Factors:
• Market dynamics:All the key factors and major developments anticipated to boost the growth of the market are covered in the study.
• Technological evolution:The report offers a thorough understanding of the emerging technologies that can influence the Chemical Tankers market demand.
• Innovation pathways: The study covers where innovations can take the market in the mid to long term.
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The Geographical Analysis Covers Following Key Regions:
• North America (United States, Canada, and Mexico)
• Europe (Germany, France, United Kingdom, Russia, Italy, and the Rest of Europe)
• Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
• South America (Brazil, Argentina, Colombia, and the rest of South America)
• The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa, and the Rest of the Middle East and Africa)
Chemical Tankers Market Segmentation:
The chemical tankers market is segmented based on type, application, end-use industry, and region. By type, the market includes specialized chemical tankers and general chemical tankers, with specialized tankers gaining popularity due to the need for segregated transport of hazardous chemicals. Applications include the transportation of liquid chemicals, gases, and bulk chemicals. The end-use industries are primarily chemical manufacturing, pharmaceuticals, and oil & gas. Chemical manufacturing is the largest consumer due to the high demand for raw materials and intermediate chemicals in various industrial processes. Regionally, the market is divided into North America, Europe, Asia Pacific, and Middle East. The Asia Pacific region is witnessing the highest growth due to the expanding chemical production capacities in China and India, while North America and Europe continue to dominate the market.
Chemical Tanker Market, Material Outlook (Revenue – USD Billion, 2019-2032)
- Stainless Steel
- Epoxy
- Others
Chemical Tanker Market, Type Outlook (Revenue – USD Billion, 2019-2032)
- Organic Chemicals
- Inorganic Chemicals
- Vegetables Oils & Fats
Chemical Tanker Market, Tanker Capacity Outlook (Revenue – USD Billion, 2019-2032)
- Less Than 10,000 DWT
- 10,000 to 19,999 DWT
- More Than 20,000 DWT
Chemical Tankers Industry Developments:
In April 2023, E&S Tankers announced the launch of its newly developed dual-fuel stainless steel parcel chemical tanker, with the option to expand the fleet with an additional four vessels. These new tankers are optimized in terms of equipment and hull design, leading to enhanced energy efficiency and improved overall performance.
In September 2021, Aurora Tankers introduced a new 50,000 DWT IMO II MR Chemical Tanker. The design and construction of these new vessels were overseen by IMC Shipping’s new-building consultancy. Equipped with advanced real-time performance monitoring systems, these tankers are designed to provide more efficient energy consumption and improved operational efficiency.
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