According to the TechSci Research report, “Chemical Tankers Market –Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, the Global Chemical Tankers Market has valued at USD 32.54 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 3.93% through 2028. This can be ascribed to collaborations and partnerships among leading companies with a diverse approach to merge the expertise of individual companies and to strengthen their position in the market.
The global chemical tanker industry is experiencing a significant boost driven by the growing demand for specialty chemicals. These unique and often high-value substances serve as the building blocks for various industries, including pharmaceuticals, agrochemicals, electronics, automotive, and more. As the demand for specialty chemicals continues to surge, it directly contributes to the expansion and evolution of the global chemical tankers market.
Industries such as pharmaceuticals and electronics are rapidly evolving, demanding innovative solutions and customized materials. Specialty chemicals play a crucial role in enabling these advancements by providing materials with unique properties, enhancing performance, and contributing to the development of cutting-edge products.
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The rise of advanced manufacturing techniques, such as 3D printing and nanotechnology, requires specialized materials that can meet specific requirements. Specialty chemicals are at the forefront of providing materials that can withstand the challenges posed by these novel manufacturing methods. The electronics industry demands specialized chemicals for applications such as semiconductors, displays, and printed circuit boards. The proliferation of electronic devices and the growth of emerging technologies like 5G and the Internet of Things (IoT) drive the need for advanced specialty chemicals.
The global chemical tanker industry plays a critical role in the transportation of various chemicals, petroleum products, and gases essential for industries ranging from agriculture and pharmaceuticals to energy and manufacturing. Recognizing the importance of this industry, governments around the world have taken proactive measures to support and promote the production of chemical tankers. Governments often allocate funds for research and development projects related to maritime technology, safety, and environmental standards.
These funds can support the development of innovative designs, propulsion systems, cargo handling technologies, and safety measures specifically tailored for chemical tankers. By fostering technological advancements, governments enhance the competitiveness of their domestic shipbuilding industry on the global stage. Robust infrastructure is crucial for the construction and maintenance of chemical tankers.
The Global Chemical Tankers Market segmentation is based on Product Type, Fleet Type, Fleet Material, By Company, and Region
Governments invest in port facilities, shipyards, and manufacturing centers to provide shipbuilders with the necessary infrastructure and resources. Improved facilities not only attract domestic shipbuilders but also enable them to meet the growing demands of the global chemical tanker market. The global chemical tanker market operates at the crossroads of logistics, trade, and industry, playing a critical role in the transportation of a wide range of chemicals and hazardous materials.
In an increasingly interconnected and complex world, collaborations and partnerships have emerged as a powerful driver of growth, innovation, and sustainability in the chemical tanker industry. For instance, BASF, Stolt Tankers, Mercurius Shipping Group, and a consortium have collaborated to introduce the low-water chemical tanker, Stolt Ludwigshafen. This innovative ship aims to enhance sustainability and operate with non-fossil fuel cargoes. Collaborations between chemical tanker operators and other segments of the supply chain, such as ports, storage facilities, and logistics providers, result in smoother and more integrated operations. Seamless coordination ensures timely loading, unloading, and onward transportation, reducing bottlenecks and optimizing efficiency.
However, volatility in oil prices and energy transitions along with geopolitical risks and trade disruptions are expected to slow down the growth of the market in the coming years.
Some of the major companies operating in the Global Chemical Tankers Market include:
- Mol Chemical Tankers Pte. Ltd.
- Nordic Tankers A/S
- Wilma International Ltd.
- Misc Berhad
- Team Tankers International Ltd.
- Iino Kaiun Kaisha, Ltd.
- Laurine Maritime
- Aurora Tankers Management Pte. Ltd.
- Tokio Marine Asia Pte. Ltd.
- PT Berlian LAju Tanker Tbk
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“Certain regions, particularly the Asia Pacific region, are projected to exert significant demand for chemical tankers worldwide. The growth in the competitive landscape and the presence of well-established companies in the market, committed to enhancing their chemical tankers productivity each year, are expected to contribute to a remarkable growth of the Global Chemical Tankers Market in the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.
Global Chemical Tankers Market By Product Type (Organic Chemicals, Inorganic Chemicals, Vegetable Oils & Fats and Others), By Fleet Type (IMO Type 1, IMO Type 2 and IMO Type 3), By Fleet Size (Inland, Coastal and Deep Sea), By Fleet Material (Stainless Steel and Coated), By Region, Competition, Forecast and Opportunities, 2018-2028F has evaluated the future growth potential of Global Chemical Tankers Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Chemical Tankers Market.
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Table of Content-Chemical Tankers Market
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
- Voice of Customer
- Global Chemical Tankers Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Product Type (Organic Chemicals, Inorganic Chemicals, Vegetable Oils & Fats and Others)
5.2.2. By Fleet Type (IMO Type 1, IMO Type 2 and IMO Type 3)
5.2.3. By Fleet Material (Stainless Steel and Coated)
5.2.4. By Region
5.2.5. By Company (2022)
5.3. Market Map
- North America Chemical Tankers Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Product Type
6.2.2. By Fleet Type
6.2.3. By Fleet Material
6.2.4. By Country
6.3. North America: Country Analysis
6.3.1. United States Chemical Tankers Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Product Type
6.3.1.2.2. By Fleet Type
6.3.1.2.3. By Fleet Material
6.3.2. Mexico Chemical Tankers Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Product Type
6.3.2.2.2. By Fleet Type
6.3.2.2.3. By Fleet Material
6.3.3. Canada Chemical Tankers Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Product Type
6.3.3.2.2. By Fleet Type
6.3.3.2.3. By Fleet Material
- Europe Chemical Tankers Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Product Type
7.2.2. By Fleet Type
7.2.3. By Fleet Material
7.2.4. By Country