ASEAN ISO Tank Container Market to Grow at a CAGR of 8.10% During 2024-2032, Driven by the Growing Demand for ISO Tank Containers in Various End-Use Sectors

The market is being propelled by the growing use of ISO tank containers in various end-use sectors in the region. As ISO tank containers are designed for non-hazardous, hazardous, and food-grade transportation and storage and are available in various sizes, their preference in sectors like food and beverage, pharmaceuticals, and oil and gas is growing. The utilisation of stainless steel in ISO tank containers to provide a robust framework while enabling them to withstand extreme pressure and environmental conditions is augmenting the growth of the market. With the rising availability of ISO tank containers with easy-to-clean design and enhanced durability, their reusability in diverse applications is surging, which is significantly contributing to the market growth. Moreover, various leading companies are increasingly offering ultra-low temperature ISO tank containers for storage and shipping solutions. This, in turn, is leading to a surge in their demand to maintain cold chain logistics in various sectors, including pharmaceuticals, hence propelling the market growth.

Some of the companies in the market for ISO tank containers in ASEAN are Sutton Harbour Group PLC (LON: SUH) and NRS Corporation. In April 2021, Petroliam Nasional Bhd started exports of LNG in ISO tank containers to China. The company would export liquified natural gas from its filling facility in Pengerang, Johor. By using ISO tank containers, the company offers easy and quick access to clean and super-chilled fuels to major end-users. The containers also offer a backup solution to rapidly meet the increased demand for fuels that could be typically constrained due to rigid schedules. With the export, Malaysia would strengthen its position as an LNG ISO tank export hub. Such initiatives are significantly contributing to the growth of the market for ISO tank container in ASEAN.

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Market Analysis by Transport Mode, Application, and Country:

• The market, on the basis of transport mode, can be divided into road, rail, and marine.

• Based on application, the market can be divided into chemicals, petrochemicals, food and beverages, pharmaceuticals, and industrial gas, among others.

• The major countries for ISO tank in ASEAN include Vietnam, Thailand, Indonesia, Singapore, and Malaysia, among others.

Key Findings of the Report:

• As various countries in the region have vast coastlines, the growing demand for ISO tank containers in the marine sector owing to the extensive reliance on sea transportation is propelling the market growth.

• The increasing use of ISO tank containers in the transportation of hazardous liquids such as diesel, gasoline, and oil, among others, due to their favourable properties is driving the market growth.

• The market growth in ASEAN can be attributed to the growing utilisation of ISO tank containers to reduce shipping and handling costs and the robust growth of the logistics sector.

• The integration of advanced technologies such as RFID sensors, Bluetooth technologies, and IoT, among others, in ISO tank containers is bolstering the growth of the market.

Key Offerings of the Report:

• The EMR report gives an overview of the ASEAN market for ISO tank container for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the transport modes, applications, and major countries of ISO tank container in ASEAN.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the ASEAN ISO tank container market are NRS Corporation, BLPL Singapore Pte. Ltd., CS EURASIA LEASING (SEA) Pte Ltd, Vietnam Pacific Lines (M) Sdn Bhd, Siam Tank Terminals Co., Ltd., Tankformator (S) Pte Ltd., and Ltd. ISOTANK VIETNAM, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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