A chemical tanker is a tank vessel or ship that is certificated for transporting chemicals and other hazardous materials in bulk quantities as cargo. These tankers are built with special features to ensure that the cargo is transported safely and securely. The tanks are typically made of stainless steel and are coated with specialized materials to prevent corrosion and contamination of the cargo.
The global chemical tankers market was valued at $29,477.45 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 3.0%.
Growth Of Chemical Industry
The growth of chemical industry supported the growth of chemical tankers market in the historic period. As the chemical industry expanded, production volumes of various chemicals, including petrochemicals, specialty chemicals and bulk chemicals, also increased. This growth drove a higher demand for transportation solutions to efficiently move these chemicals from production facilities to international markets. For example, according to the US Bureau of Labor Statistics, a US-based government agency, in the USA, the trade value of chemical manufacturing products exported in 2022 amounted to $288.0 billion, reflecting a growth of 13.4% compared to the previous year, 2021. Therefore, the growth of chemical industry drove the growth of the chemical tankers market.
Innovative Digital Solutions To Improve Chemical Tanker Operations
Major companies operating in the chemical tankers market are using innovative digital solutions to improve chemical tanker operations. These innovations can lead to cost reductions and enhanced service delivery by reducing operational delays and inefficiencies. For instance, in February 2024, APC, a US-based provider of chemical and product tankers, launched a new online platform designed specifically for chemical tanker operators. This platform aims to enhance operational efficiency and safety within the chemical shipping industry. Key features include tools for real-time data sharing, compliance management and improved communication among operators. The initiative is part of APC's broader strategy to leverage technology to address challenges in the chemical tanker sector and streamline processes for better service delivery.
The global chemical tankers market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 14.43% of the total market in 2023.
Chemical tankers Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global chemical tankers market as it emerges from the COVID-19 shut down.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Where is the largest and fastest-growing market for chemical tankers? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The chemical tankers 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 history and forecasts market growth by geography. It places the market within the context of the wider chemical tankers market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product type, by cargo type, by size and by fleet material.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the chemical tankers market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by product type, by cargo type, by size and by fleet material in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for chemical tankers providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Product Type: Organic Chemicals; Inorganic Chemicals; Vegetable Oils And Fats; Other Product Types
- 2) By Cargo Type: IMO 1, IMO 2; IMO 3
- 3) By Size: Inland Chemical Tankers (1,000-4,999 DWT (deadweight tonnage); Coastal Chemical Tankers (5,000-9,999 DWT); Deep-Sea Chemical Tankers (10,000-50,000 DWT)
- 4) By Fleet Material: Stainless Steel; Coated
- Companies Mentioned: Stolt-Nielsen Limited.; Odfjell SE; Bahri; MISC Berhad Corporation; Iino Kaiun Kaisha Ltd.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; chemical tankers indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.