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Global Chemical Tankers Market: By Product Type: Organic Chemicals, Inorganic Chemicals, Vegetable Oils and Fats, Others; By Fleet Type; By Fleet Size; By Fleet Material; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Chemical Tankers Market Outlook

The global chemical tankers market stood at a value of around USD 33.2 billion in 2021. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 4.40% to reach about USD 43 billion by 2027.

 

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.

 

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.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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    Industry Opportunities and Challenges
8    Global Chemical Tankers Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Chemical Tankers Historical Market (2017-2021) 
    8.3    Global Chemical Tankers Market Forecast (2022-2027)
    8.4    Global Chemical Tankers Market by Product Type
        8.4.1    Organic Chemicals
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Inorganic Chemicals
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
        8.4.3    Vegetable Oils and Fats
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021)
            8.4.3.3    Forecast Trend (2022-2027)
        8.4.4    Others
    8.5    Global Chemical Tankers Market by Fleet Type
        8.5.1    IMO Type 1
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    IMO Type 2
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    IMO Type 3
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
    8.6    Global Chemical Tankers Market by Fleet Size
        8.6.1    Inland Chemical Tankers (1,000-4,999 DWT)
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Coastal Chemical Tankers (5,000-9,999 DWT)
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
        8.6.3    Deep Sea Chemical Tankers (10,000-50,000 DWT)
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2017-2021)
            8.6.3.3    Forecast Trend (2022-2027)
    8.7    Global Chemical Tankers Market by Fleet Material
        8.7.1    Stainless Steel
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2017-2021)
            8.7.1.3    Forecast Trend (2022-2027)
        8.7.2    Coated
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2017-2021)
            8.7.2.3    Forecast Trend (2022-2027)
    8.8    Global Chemical Tankers Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Bahri
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    Stolt-Nielsen Limited (SNL)
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    Mol Chemical Tankers Pte. Ltd.
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Odfjell SE
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Iino Kaiun Kaisha, Ltd.
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    Others
12    Industry Events and Developments

 

List of Key Figures and Tables
  
1.    Global Chemical Tankers Market: Key Industry Highlights, 2017 and 2027
2.    Global Chemical Tankers Historical Market: Breakup by Product Type (USD Million), 2017-2021
3.    Global Chemical Tankers Market Forecast: Breakup by Product Type (USD Million), 2022-2027
4.    Global Chemical Tankers Historical Market: Breakup by Fleet Type (USD Million), 2017-2021
5.    Global Chemical Tankers Market Forecast: Breakup by Fleet Type (USD Million), 2022-2027
6.    Global Chemical Tankers Historical Market: Breakup by Fleet Size (USD Million), 2017-2021
7.    Global Chemical Tankers Market Forecast: Breakup by Fleet Size (USD Million), 2022-2027
8.    Global Chemical Tankers Historical Market: Breakup by Fleet Material (USD Million), 2017-2021
9.    Global Chemical Tankers Market Forecast: Breakup by Fleet Material (USD Million), 2022-2027
10.    Global Chemical Tankers Historical Market: Breakup by Region (USD Million), 2017-2021
11.    Global Chemical Tankers Market Forecast: Breakup by Region (USD Million), 2022-2027
12.    North America Chemical Tankers Historical Market: Breakup by Country (USD Million), 2017-2021
13.    North America Chemical Tankers Market Forecast: Breakup by Country (USD Million), 2022-2027
14.    Europe Chemical Tankers Historical Market: Breakup by Country (USD Million), 2017-2021
15.    Europe Chemical Tankers Market Forecast: Breakup by Country (USD Million), 2022-2027
16.    Asia Pacific Chemical Tankers Historical Market: Breakup by Country (USD Million), 2017-2021
17.    Asia Pacific Chemical Tankers Market Forecast: Breakup by Country (USD Million), 2022-2027
18.    Latin America Chemical Tankers Historical Market: Breakup by Country (USD Million), 2017-2021
19.    Latin America Chemical Tankers Market Forecast: Breakup by Country (USD Million), 2022-2027
20.    Middle East and Africa Chemical Tankers Historical Market: Breakup by Country (USD Million), 2017-2021
21.    Middle East and Africa Chemical Tankers Market Forecast: Breakup by Country (USD Million), 2022-2027
22.    Global Chemical Tankers Market Structure

Key Questions Answered in the Report

In 2021, the global chemical tankers market attained a value of nearly USD 33.2 billion.

The market is estimated to grow at a CAGR of 4.40% between 2022 and 2027.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach about USD 43 billion by 2027.

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 33.2 billion in 2021, 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 2022-2027, growing at a CAGR of 4.40%, to reach a value of around USD 43 billion by 2027.

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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