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Chemical Tankers Market

Global Chemical Tankers Market Size, Share, Trends, Growth: By Product Type: Organic Chemicals, Inorganic Chemicals, Vegetable Oils and Fats, Others; By Fleet Type: IMO Type 1, IMO Type 2, IMO Type 3, By Fleet Size; By Fleet Material; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

Global Chemical Tankers Market Outlook

The global chemical tankers market stood at a value of around USD 36.19 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 4.4% to reach about USD 53.33 billion by 2032.

 

chemical-tankers-market

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Increasing Demand for Stainless Steel Chemical Tankers for Exporting Chemicals Driving the Market

Chemical tankers made up of stainless steel are extremely durable with high strength to weight ratio. Also, the thickness of the wall of these ships is low, which increases the cargo capacity. These advantages make it ideal for the export activities of bulk chemicals, which is propelling the chemical tankers market. Moreover, the rigid quality of these tankers, along with excellent hygiene control, allow the transportation of chemicals without any contamination. Some other favourable properties of stainless steel chemical tankers include fire and heat resistance, high resistance to extreme temperature variations, and the non-porous surface of the tanker, which are driving the segment’s growth. Over the forecast period, the increasing inclination towards stainless steel tankers as cost-effective alternatives to their counterparts such as coated tankers is likely to fuel the segment growth.

 

The Asia Pacific Accounts for a Significant Share in the Market for Chemical Tankers

The market in the Asia Pacific region is being driven by the improving economic growth of emerging economies such as India and China. In India, the outpacing domestic demand for vegetable oils is likely to increase the reliance of the country on overseas imports. This factor is likely to boost the demand for chemical tankers in the forecast period. Meanwhile, the growing innovations and advancements by the major chemical manufacturing firms in the region owing to the increasing demand for sulphuric acid and methanol from various end-use industries are anticipated to add to the chemical tankers market growth in the forecast period.

 

Market Segmentation

Chemical tanker is defined as a type of cargo ship which is used to transport bulk chemicals. These ships have high damage stability, and can survive harsh environments. The content in chemical tanker can be extremely toxic and dangerous, because of which chemical tanker needs to comply with the International Bulk Chemical Code.

Based on product type, the market can be segmented into:

  • Organic Chemicals
  • Inorganic Chemicals
  • Vegetable Oils and Fats
  • Others

By fleet type, the market is divided into:

  • IMO Type 1
  • IMO Type 2
  • IMO Type 3

On the basis of fleet size, the market is classified into:

  • Inland Chemical Tankers (1,000-4,999 DWT)
  • Coastal Chemical Tankers (5,000-9,999 DWT)
  • Deep Sea Chemical Tankers (10,000-50,000 DWT)

The market can be bifurcated based on fleet material into:

  • Stainless Steel
  • Coated

The EMR report looks into the regional markets of chemical tankers like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

chemical-tankers-market-by-region

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Increasing Application of Chemical Tankers for the Transportation of Vegetable Oils and Fats to Boost the Market Growth

The increasing demand for chemical tankers for the transportation of vegetable oils and fats is driving the market growth. Vegetable oils and fats are reactive and have a high sensitivity to poor handling. Chemical tankers provide them with excellent temperature control, proper handling, and sufficient storage, hence propelling the market growth. Vegetable oils also account for a significant share in the daily caloric food supply. In this regard, the increasing international trading of vegetable oils is anticipated to propel the demand for chemical tankers in the forecast period. Moreover, the rapid emergence of chemical tankers as the main form to transport commodities which fulfil the energy requirements of the world is likely to lead to a steady growth of the chemical tankers market in the forecast period.

Over the forecast period, the increasing deployment of type 1 and type 2 chemical tankers in the chemical industry for moving harmful and toxic chemicals such as sulphuric acid, caustic soda, and phosphoric acid, among others, is anticipated to provide impetus to the market. Furthermore, the growing research and development (R&D) activities by major chemical tanker manufacturers for designing superior quality tankers that comply with the cleaning standards are likely to bolster the growth of the chemical tankers market in the coming years.

 

Key Players in the Global Market for Chemical Tankers

The report gives a detailed analysis of the following key players in the global chemical tankers market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Bahri
  • Stolt-Nielsen Limited (SNL)
  • Mol Chemical Tankers Pte. Ltd.
  • Odfjell SE
  • Iino Kaiun Kaisha, Ltd.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • Fleet Type
  • Fleet Size
  • Fleet Material
  • Region
Breakup by Product Type
  • Organic Chemicals
  • Inorganic Chemicals
  • Vegetable Oils and Fats
  • Others
Breakup by Fleet Type
  • IMO Type 1
  • IMO Type 2
  • IMO Type 3
Breakup by Fleet Size
  • Inland Chemical Tankers (1,000-4,999 DWT)
  • Coastal Chemical Tankers (5,000-9,999 DWT)
  • Deep Sea Chemical Tankers (10,000-50,000 DWT)
Breakup by Fleet Material
  • Stainless Steel
  • Coated
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Bahri
  • Stolt-Nielsen Limited (SNL)
  • Mol Chemical Tankers Pte. Ltd.
  • Odfjell SE
  • Iino Kaiun Kaisha, Ltd.
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Chemical Tankers Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Chemical Tankers Historical Market (2018-2023) 
    8.3    Global Chemical Tankers Market Forecast (2024-2032)
    8.4    Global Chemical Tankers Market by Product Type
        8.4.1    Organic Chemicals
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Inorganic Chemicals
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Vegetable Oils and Fats
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Others
    8.5    Global Chemical Tankers Market by Fleet Type
        8.5.1    IMO Type 1
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    IMO Type 2
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    IMO Type 3
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
    8.6    Global Chemical Tankers Market by Fleet Size
        8.6.1    Inland Chemical Tankers (1,000-4,999 DWT)
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Coastal Chemical Tankers (5,000-9,999 DWT)
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Deep Sea Chemical Tankers (10,000-50,000 DWT)
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
    8.7    Global Chemical Tankers Market by Fleet Material
        8.7.1    Stainless Steel
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Coated
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)    
    8.8    Global Chemical Tankers Market by Region
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032)
9    North America Chemical Tankers Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Chemical Tankers Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Chemical Tankers Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Chemical Tankers Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Chemical Tankers Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Bahri
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Stolt-Nielsen Limited (SNL)
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Mol Chemical Tankers Pte. Ltd.
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Odfjell SE
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Iino Kaiun Kaisha, Ltd.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables
  
1.    Global Chemical Tankers Market: Key Industry Highlights, 2018 and 2032
2.    Global Chemical Tankers Historical Market: Breakup by Product Type (USD Million), 2018-2023
3.    Global Chemical Tankers Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4.    Global Chemical Tankers Historical Market: Breakup by Fleet Type (USD Million), 2018-2023
5.    Global Chemical Tankers Market Forecast: Breakup by Fleet Type (USD Million), 2024-2032
6.    Global Chemical Tankers Historical Market: Breakup by Fleet Size (USD Million), 2018-2023
7.    Global Chemical Tankers Market Forecast: Breakup by Fleet Size (USD Million), 2024-2032
8.    Global Chemical Tankers Historical Market: Breakup by Fleet Material (USD Million), 2018-2023
9.    Global Chemical Tankers Market Forecast: Breakup by Fleet Material (USD Million), 2024-2032
10.    Global Chemical Tankers Historical Market: Breakup by Region (USD Million), 2018-2023
11.    Global Chemical Tankers Market Forecast: Breakup by Region (USD Million), 2024-2032
12.    North America Chemical Tankers Historical Market: Breakup by Country (USD Million), 2018-2023
13.    North America Chemical Tankers Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Europe Chemical Tankers Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Europe Chemical Tankers Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Asia Pacific Chemical Tankers Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Asia Pacific Chemical Tankers Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Latin America Chemical Tankers Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Latin America Chemical Tankers Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Middle East and Africa Chemical Tankers Historical Market: Breakup by Country (USD Million), 2018-2023
21.    Middle East and Africa Chemical Tankers Market Forecast: Breakup by Country (USD Million), 2024-2032
22.    Global Chemical Tankers Market Structure

Key Questions Answered in the Report

In 2023, the global chemical tankers market attained a value of nearly USD 36.19 billion.

The market is estimated to grow at a CAGR of 4.4% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 53.33 billion by 2032.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major drivers of the market include the increasing demand for chemical tankers for the purpose of transporting vegetable oils and fats, rising trading of toxic and hazardous chemicals, and emergence of chemical tankers as the main form of transportation for commodities.

The growing research and development activities by the major manufacturers aimed towards designing superior quality tankers complying with the cleaning standards of the government are likely to be the key trends in the market.

Organic chemicals, inorganic chemicals, and vegetable oils and fats, among others, are the different product types of chemical tankers.

IMO type 1, IMO type 2, and IMO type 3 are the major fleet types of chemical tankers.

Inland chemical tankers (1,000-4,999 DWT), coastal chemical tankers (5,000-9,999 DWT), and deep sea chemical tankers (10,000-50,000 DWT) are the significant fleet sizes of chemical tankers.

Stainless steel and coated are the significant fleet materials based on which the market has been bifurcated.

The major players in the market are Bahri, Stolt-Nielsen Limited (SNL), Mol Chemical Tankers Pte. Ltd., Odfjell SE, and Iino Kaiun Kaisha, Ltd., among others.

Analyst Review

The global chemical tankers market reached a value of about USD 36.19 billion in 2023, driven by the various properties of these tanks favouring the transportation of harmful and sensitive chemicals, and rising deployment of tanks in the ocean to transport vegetable oils. Aided by the stringent government regulations aimed towards bolstering the safety in the transportation process of toxic chemicals, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 4.4%, to reach a value of around USD 53.33 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. Based on product type, the chemical tankers market is segmented into organic chemicals, inorganic chemicals, and vegetable oils and fats, among others. On the basis of fleet type, the market is categorised into IMO type 1, IMO type 2, and IMO type 3. Based on fleet size, the market is segmented into inland chemical tankers (1,000-4,999 DWT), coastal chemical tankers (5,000-9,999 DWT), and deep sea chemical tankers (10,000-50,000 DWT). By fleet material, the market is divided into stainless steel and coated. The major regional markets for chemical tankers are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Bahri, Stolt-Nielsen Limited (SNL), Mol Chemical Tankers Pte. Ltd., Odfjell SE, and Iino Kaiun Kaisha, Ltd., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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