Chemical Tanker Market based on Product Type (Organic Chemicals, Inorganic Chemical, Vegetable Fats & Oils, and Others), Fleet Type (IMO I, IMO II AND IMO III), Shipment Route (Inland Route, Coastal Route, and Deep-Sea Route), and Geography – Global Forecast up to 2027

  • November, 2021
  • Domain: Chemicals, Materials & Food - Industrial Chemicals
Pages: 122
Tables: 64
Charts: 94
Regions/Countries: 4/10
Companies: 10
Enquiry Hours: 10
  • Get Free 10% Customization in this Report

There has been too much hue & cry about the logistic prices and chemical tankers availability in 2021, which is largely due to supply chain disruptions and overprotective measures countered by corporates across the world. Chemical tankers are cargo ships deployed for the carrying of liquid chemicals in mass. They are categorized into different types of tankers based on size, fleet type, and chemical to be carried. These tankers are needed to comply with several safety aspects detailed to enable safe transportation of combustible, toxic, and flammable liquid chemicals. The range of chemicals transported in bulk has substantially expanded, and special types of ships are being used extensively to meet the requirement. The enormous concentration of chemical production and increasing demand across the world is essentially accountable for chemical tankers' market growth. Shale gas evolution is a prominent factor that has been positively impacting the chemical tankers' market growth. Organic chemicals have a vast range of applications and entice significant interest owing to their potential industrial uses is also a key factor in the market growth. However, the sluggish growth in the production of crude oil is expected to restrict the market growth. As a result, the Chemical Tanker Market is anticipated to grow at the rate of 4.34% CAGR to grow from $26.76 bn in 2021 to reach $35.09 bn by 2027. 

Research Methodology:

The Chemical Tankers Market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology and a unique balance of primary insights. The real-time valuation of the market is an integral part of our forecasting and market sizing methodology. Industry experts and our primary participants have helped to compile related aspects with accurate parametric estimations for a complete study. The primary participants share is given below:

Chemical Tanker Market

Chemical Tanker Market based on Product Type

  • Organic Chemicals
  • Inorganic Chemical
  • Vegetable Fats & Oils
  • Others

Chemical Tanker Market based on Fleet Type

  • IMO I
  • IMO II
  • IMO III

Chemical Tanker Market based on Shipment Route

  • Inland Route
  • Coastal Route
  • Deep-Sea Route

Chemical Tanker Market based on Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

As in the chemical tanker market based on product type, the ‘vegetables, fats, and oils’ segment is projected to witness the highest growth in the forecasted period. The growth of this segment is ascribed to the increasing production of various types of vegetable oils and fats along with the rising awareness among the people about the health benefits. This has resulted in the higher consumption of vegetable oils and fats owing to rising health-consciousness among the masses.

As in the market based on fleet type, the IMO III segment is leading the market. IMO III tankers are used to transport chemical products with great safety and potential environmental hazards. IMO III has a considerable demand on account of large-scale applications of natural or organic compounds in various industries. While these tankers do not have any limitations on the cargo quantity, it is the most preferred tanker type among all three types. The difference in the regulatory standpoint across geographies has resulted in outsourcing or importing/exporting hazardous materials by developed nations, boosting the demand for IMO III tankers.

Further, based on the shipment route, the coastal chemical tankers have a prominent share in the market due to the increasing demand for coastal tankers from China and India owing to the policy and infrastructure restructuring. The Indian workforce is very competitive with respect to skills and salaries. India and China are also strategic gateways for importing products into and out of the Asia Pacific, making it a valuable location and suitable for chemical tankers.

In terms of geographical market, the Asia Pacific region accounted for the highest share in the market. This is due to the increasing call for petrochemicals in countries such as China, and India along with growing trade from Singapore. Also, growth in the number of chemical industries in South Korea and Japan is further increases the market growth.

Vegetable oils and fats are attained from legitimate sources such as seeds, nuts, and fruits, and their demand has enormously increased around the world. They find extensive applications in an area ranging from food to household and personal care areas. They are of rich nutrient source and are used in cooking, non-dairy creamers, and ice cream. They are being used as an alternate for animal fats. Vegetable oil is also widely used to make soaps, detergents, lubricants, greases, and candles in the case of non-food applications. Thus, the rising demand for vegetable oils and fats has majorly enhanced the chemical tanker market growth.

The major vendors analyzed in the chemical tanker market report are Champion Tankers AS, Iino Kaiun Kaisha, Ltd., Waterfront Shipping Company Limited, Aurora Tankers Management Pvt., Ltd., Mol Chemical Tankers Pvt., Ltd., Maersk Tankers A/S, Nordic Tankers A/S, Southern Chemical Corporation, Stolt-Nielsen Limited (SNL) and Team Tankers International Ltd.

Furthermore, the advent of industry best practice guidelines has strengthened the field of chemical tankers, ensuring the safety of those related to the entire shipping process. The global market for the specialist ships so designed, constructed, or adapted for the purpose has also witnessed prominent positive developments as a result.

  • This report analysis helps the players in the market to know the present trends, dynamics, and opportunities of the market and requirements of the end-users.
  • The competitive analysis of the key competitors allow users to perceive the dynamic strategies such as technology innovation, partnerships, merger & acquisitions, and joint ventures of the key competitors
  • This report also includes the SWOT analysis, portfolio analysis, capability analysis of the leading competitors 
  • Quantitative analysis of the market allows users to understand the factual of the market across four major regions
  1. Executive Summary
  2. Industry Outlook
    1. Industry Overview
    2. Industry Trends
  3. Market Snapshot
    1. Market Definition
    2. Market Outlook
      1. Porter Five Forces
    3. Related Markets
  4. Market characteristics
    1. Market Overview
    2. Market Segmentation
    3. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
    4. DRO - Impact Analysis
  5. Product Type: Market Size & Analysis
    1. Overview
    2. Organic Chemicals
    3. Inorganic Chemical
    4. Vegetable Fats & Oils
    5. Others
  6. Fleet Type: Market Size & Analysis
    1. Overview
    2. IMO I
    3. IMO II
    4. IMO III
  7. Shipment Route: Market Size & Analysis
    1. Overview
    2. Inland Route
    3. Coastal Route
    4. Deep-Sea Route
  8. Geography: Market Size & Analysis
    1. Overview
    2. North America
    3. Europe
    4. Asia Pacific
    5. Rest of the World
  9. Competitive Landscape
    1. Competitor Comparison Analysis
    2. Market Developments
      1. Mergers and Acquisitions, Legal, Awards, Partnerships
      2. Product Launches and execution
  10. Vendor Profiles
    1. Champion Tankers AS
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    2. Iino Kaiun Kaisha, Ltd.
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    3. Waterfront Shipping Company Limited
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    4. Aurora Tankers Management Pvt., Ltd.
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    5. Mol Chemical Tankers Pvt., Ltd.
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    6. Maersk Tankers A/S
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    7. Nordic Tankers A/S
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    8. Southern Chemical Corporation
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    9. Stolt-Nielsen Limited (SNL)
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    10. Team Tankers International Ltd.
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
  11. Analyst Opinion
  12. Annexure
    1. Report Scope
    2. Market Definitions
    3. Research Methodology
      1. Data Collation and In-house Estimation
      2. Market Triangulation
      3. Forecasting
    4. Report Assumptions
    5. Declarations
    6. Stakeholders
    7. Abbreviations

Research Framework

Infoholic research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:

  • Data Collation (Primary & Secondary)
  • In-house Estimation (Based on proprietary data bases and Models)
  • Market Triangulation
  • Forecasting

Market related information is congregated from both primary and secondary sources.

Primary sources

involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.

Secondary sources

include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.

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