Chemical Tankers Market Size, Share, And Growth Report 2032

Chemical Tankers Market Size

According to Zion Market Research, the global Chemical Tankers Market was worth USD 34.82 Billion in 2023. The market is forecast to reach USD 52.64 Billion by 2032, growing at a compound annual growth rate (CAGR) of 4.7% during the forecast period 2024-2032.

The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Chemical Tankers Market industry over the next decade.

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Chemical Tankers Market: Overview

Chemical tankers are cargo ships designed for carrying liquid chemicals in bulk. They carry industrial chemicals and pure petroleum items. These include caustic soda, palm oil, methanol, vegetable oils, and tallow. Reportedly, these products transport harmful materials as well as substances that are less hazardous. Moreover, chemical tankers comprise of various kinds of cargo tanks and have specialized coating application such as zinc paint coating. However, some of the cargo tanks are made up of stainless steel material.

Growing development in the chemical industry is the major factor driving the growth of the global chemical tankers market. Growing chemical industries leads to large-scale chemicals’ production, which, in turn, contributes to the growing demand for chemical tankers. Moreover, increasing demand for vegetable fats and oils and oilseeds is also anticipated to fuel the expansion of chemical tankers market during the forecast timeframe. In addition, increasing regulations regarding the safe shipment of hazardous chemicals are also contributing to this market growth. Furthermore, the demand for the stainless steel chemical tankers has also increased, as these tankers offer better chemical resistance. However, increasing geopolitical issues and unstable political conditions are hampering the development of chemical tankers market globally.

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Chemical Tankers Market: Growth Dynamics

Escalating requirement of safe transport of large number of chemicals, harmful products, and food items is predicted to elevate market expansion. Moreover, flourishing chemical sector has favorably impacted demand for water transport along with safe transfer of chemicals from place of production to destination. Apart from this, end-use sectors including food & beverages sector are making use of chemical tankers for transporting fats and vegetable oils. Hence, rise in manufacture of fats as well as vegetable oils are projected to tremendously contribute towards expansion of chemical tankers industry over forecasting timespan.

Chemical Tankers Market: Segmentation

On the basis of product type, the chemical tankers market is categorized into organic, inorganic chemicals, vegetable fats and oils, and others. Based on the fleet type, this market is classified into IMO 1, IMO 2, and IMO 3.

On the basis of fleet material, this market is bifurcated into coated and stainless steel. Based on fleet size, this market is segmented into deep-sea chemical tankers (10,000-50,000 DWT), inland chemical tankers (1,000-4,999 DWT), and coastal chemical tankers (5,000-9,999 DWT).

Chemical Tankers Market: Report Scope

Chemical Tankers Market: Regional Analysis

Asia Pacific To Make Notable Contributions Towards Regional Market Revenue By 2032

Growth of chemical tankers industry in Asia Pacific over forecast timespan is subject to massive presence of chemical manufacturers in countries such as India, South Korea, Japan, and China. In addition to this, swift demand of chemical tankers in countries such as India will embellish regional market scope. Additionally, humongous popularity of sunflower oil and palm oil in sub-continent will proliferate expansion of chemical tankers in Asia Pacific over forecast timespan.

Chemical Tankers Market: Competitive Players

Key players influencing growth of chemical tankers market and profiled in report are:

• Stolt-Nielsen Limited
• Team Tankers International Limited
• Navig8 Limited
• Bahri Company
• MOL Chemical Tankers
• Odfjell SE
• MOL Nordic Tankers Trading A/S
• MISC Berhad Corporation
• Wilmar International Limited
• Iino Kaiun Kaisha Ltd.
• Stena Bulk Company
• Maersk Tankers

The global Chemical Tankers Market is segmented as follows:

By Product Type

• Organic Chemicals
• Inorganic Chemical
• Vegetable Fats & Oils

By Fleet Type

• IMO 1
• IMO 2
• IMO 3

By Fleet Material

• STAINLESS STEEL
• Coated

By Fleet Size

• 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)

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa