PUBLISHER: The Business Research Company | PRODUCT CODE: 1429844
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429844
An ISO tank container is a type of tank container that adheres to the guidelines set by the International Organization for Standardization (ISO). These containers are designed for the transportation and storage of liquids, powders, and gases. They are versatile, suitable for various modes of transportation, and can carry both hazardous and non-hazardous products.
The main types of containers in the ISO tank container category are =30 ft containers and >30 ft containers. The term '=30 ft containers' refers to shipping containers with a length of 30 feet or less. In the context of shipping and transportation, containers come in various sizes to accommodate different cargo needs. These containers can be utilized for transportation via road, rail, and marine and find applications in various industries such as chemicals, petrochemicals, food and beverage, pharmaceuticals, industrial gases, and others.
The ISO tank container market research report is one of a series of new reports from The Business Research Company that provides ISO tank container market statistics, including ISO tank container industry global market size, regional shares, competitors with an ISO tank container market share, detailed ISO tank container market segments, market trends and opportunities, and any further data you may need to thrive in the ISO tank container industry. This ISO tank container market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The iso tank container market size has grown strongly in recent years. It will grow from $1.51 billion in 2023 to $1.66 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The expansion observed in the historical period can be attributed to the growth of seaborne trade, an increase in mergers and acquisitions, and a rise in investments.
The iso tank container market size is expected to see strong growth in the next few years. It will grow to $2.38 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The anticipated growth in the forecast period can be attributed to the expanding petrochemical industry, a surge in oil and gas exports, the growing adoption of shipping containers, and increasing import and export activities. Key trends expected in this period include partnering with companies offering IoT software, developing smart solutions using advanced smart technologies, implementing AI-powered trackers in ISO tank containers, launching online tracking solutions, adopting advanced solutions such as optical character recognition, and launching innovative products.
The anticipated growth of the ISO tank container market in the forecast period is expected to be driven by the expanding petrochemical industry. ISO tank containers, constructed with stainless steel and surrounded by protective layers, are utilized for transporting hazardous petrochemicals, providing resistance to the corrosive effects of these substances. According to the International Energy Agency, petrochemicals are projected to contribute to approximately 50% of the global oil demand growth between 2030 and 2050, equivalent to nearly 7 million barrels of oil. The usage of ISO tank containers, which leave a carbon footprint of less than 50%, is prevalent in shipping chemicals within the petrochemical sector. The demand for petrochemical products is surging, with petrochemicals expected to represent over a third of the increase in oil consumption through 2030 and nearly half through 2050, outpacing other modes of transportation. Consequently, the growth of the petrochemical industry becomes a driving force for the ISO tank containers market.
Another factor expected to propel the ISO tank container market is the upswing in oil and gas exports. As crucial energy sources, oil and gas undergo extraction from reservoirs and wells, followed by transportation to refineries for refining and subsequent sale as finished products. ISO tank containers play a vital role in storing and transporting oil and gas products. In 2022, the United States maintained its status as a net yearly exporter of petroleum, with a petroleum export volume of around 9.52 million barrels per day and total petroleum imports at approximately 8.33 million barrels per day, as reported by the US-based Energy Information Administration. This consistent surge in oil and gas exports serves as a significant driver for the ISO tank container market.
The adoption of the Internet of Things (IoT) for remote monitoring of ISO tank containers is reshaping the market. IoT involves internet-connected objects that collect and transfer data wirelessly without human intervention. Companies in the ISO tank container sector are increasingly forming collaborations with IoT software providers to enhance their capabilities. For example, in July 2021, Arkema, a France-based chemicals company, collaborated with Nexxiot, a Swiss digital logistics solutions provider. This partnership aims to digitize Arkema's ISO tank and rail freight wagon fleets using Nexxiot's IoT devices and intelligent cloud platform, offering end-to-end visibility, improved quality standards, and an enhanced service experience for Arkema's clients.
A notable trend in the ISO tank container market is the emphasis on product innovations. Companies are actively launching innovative products to maintain a competitive edge. In January 2021, The HOYER Group, a Germany-based logistics company specializing in liquid transportation, introduced a new generation of titanium tank containers designed for highly corrosive dangerous goods. The breakthrough achievement included attaching the steel frame to the titanium tank, and a new heating system was successfully implemented. The two newly developed titanium tank containers were specifically engineered for transporting molten MCA (monochloroacetic acid).
In April 2021, Arcus Infrastructure Partners, LLP, a UK-based company, successfully acquired Gem Containers Limited for an undisclosed amount. This strategic acquisition enables Arcus to diversify its container product portfolio, expand its customer base, and extend its product reach into Europe. Gem Containers Limited, a UK-based metal company, specializes in the manufacturing and distribution of tank containers.
Major companies operating in the iso tank container market report are CIMC Container Holdings Co., Ltd., Singamas Container Holdings Limited, Welfit Oddy Industries Pty Ltd., Chart Industries Inc., Sure Tank, NT Tank, Bewellcn Shanghai Co., Ltd., Cryeng Group, M1 Engineering, Corban Energy Group, Cosco Shipping, Peacock, Leschaco, VTG Tanktainer GmbH, Suttons Group, Royal Dutch Shell, Aker Solutions, Linde, Equinor, Total Energies, Transalex, Load & Go Logistics, Baltica-Trans Co Ltd., M&S Logistics, GATX, ExxonMobil Russia, Stolt-Nielsen Limited, HOYER GmbH, Bulkhaul Ltd., Danteco Industries, Meeberg, Tankformator, THIELMANN, Tankcon, Bertschi AG, Maersk, MSC, TIL Group, Intermodal Tank Transport, NewPort Tank, Aramex, DP World, Icon Middle East
Europe was the largest region in the ISO tank container market in 2023. North America was the second-largest region in the ISO tank container market. The regions covered in the iso tank container market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the iso tank container market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The ISO tank containers market consists of sales of rubber-lined ISO tank container, acid-based chemicals tank, food-grade tank, and stainless-steel containers.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
ISO Tank Container Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on iso tank container market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for iso tank container? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The iso tank container market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.