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Chemical Tankers Market - Global Industry Analysis

Chemical Tankers Market- By Product Type (Organic Chemicals, Inorganic Chemical, and Vegetable Fats & Oils), By Fleet Type (IMO 1, IMO 2, and IMO 3), By Fleet Material (STAINLESS STEEL And Coated), And By Fleet Size (Inland Chemical Tankers (1,000-4,999 DWT), Coastal Chemical Tankers (5,000-9,999 DWT), and Deep-Sea Chemical Tankers (10,000-50,000 DWT)): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021–2028

Published Date: 02-Dec-2021 Category: Chemical & Materials Report Format : PDF Pages: 155 Report Code: ZMR-3030 Status : Published

The global Chemical Tankers Market accrued earnings worth approximately 29.11 (USD Billion) in 2020 and is predicted to gain revenue of about 40.12 (USD Billion) by 2028, is set to record a CAGR of nearly 4.7% over the period from 2021 to 2028.

Description

The global Chemical Tankers Market accrued earnings worth approximately 29.11 (USD Billion) in 2020 and is predicted to gain revenue of about 40.12 (USD Billion) by 2028, is set to record a CAGR of nearly 4.7% over the period from 2021 to 2028. The report offers assessment and analysis of the Chemical Tankers Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).

Chemical Tankers Market: Outlook

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.

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.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Regional Landscape

Asia Pacific To Make Notable Contributions Towards Regional Market Revenue By 2028

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.

Competitive Landscape

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, and 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

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description and Scope
    • 1.2. Research Scope
    • 1.3. Research Methodulogy
      • 1.3.1. Market Research Type
      • 1.3.2. Market Research Methodulogy
  • Chapter 2. Executive Summary
    • 2.1. Chemical Tankers Market, 2018–2028(USD Billion)
    • 2.2. Chemical Tankers Market: Snapshot
  • Chapter 3. Global Chemical Tankers Market– Industry Analysis
    • 3.1. Chemical Tankers Market: Market Dynamics
    • 3.2. Market Drivers
      • 3.2.1. Massive need of safe transport of large number of chemicals, harmful items, and food product is set to extend market growth.
      • 3.2.2. Flourishing chemical sector has favorably influenced need of water transport coupled with secured transport of chemicals from one site to another location.
    • 3.3. Porter’s Five Forces Analysis
    • 3.4. Market Attractiveness Analysis
      • 3.4.1. Market attractiveness analysis By Product Type
      • 3.4.2. Market attractiveness analysis By Fleet Type
      • 3.4.3. Market attractiveness analysis By Fleet Size
      • 3.4.4. Market attractiveness analysis By Fleet Material
  • Chapter 4. Global Chemical Tankers Market– Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global Chemical Tankers Market: company market share, 2019
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New Product launches
      • 4.2.3. Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4. Research and development and Regional expansion
    • 4.3. Price trend analysis
  • Chapter 5. Global Chemical Tankers Market– Product Type Analysis
    • 5.1. Global Chemical Tankers Marketoverview: By Product Type
      • 5.1.1. Global Chemical Tankers Marketshare, By Product Type, 2020 and 2028
    • 5.2. Organic Chemicals
      • 5.2.1. Global Chemical Tankers Marketby Organic Chemicals, 2018–2028(USD Billion)
    • 5.3. Inorganic Chemical
      • 5.3.1. Global Chemical Tankers Marketby Inorganic Chemical, 2018–2028(USD Billion)
    • 5.4. Vegetable Fats & Oils
      • 5.4.1. Global Chemical Tankers Marketby Vegetable Fats & Oils, 2018–2028(USD Billion)
  • Chapter 6. Global Chemical Tankers Marketoverview: By Fleet Type
    • 6.1.1. Global Chemical Tankers Marketshare, By Fleet Type , 2020 and 2028
    • 6.2. IMO 1
      • 6.2.1. Global Chemical Tankers Marketby IMO 1, 2018–2028(USD Billion)
    • 6.3. IMO 2
      • 6.3.1. Global Chemical Tankers Marketby IMO 2, 2018–2028(USD Billion)
    • 6.4. IMO 3
      • 6.4.1. Global Chemical Tankers Marketby IMO 3, 2018–2028(USD Billion)
    • 7. Global Chemical Tankers Marketoverview: By Fleet Material
      • 7.1.1. Global Chemical Tankers Marketshare, By Fleet Material , 2020 and 2028
    • 7.2. STAINLESS STEEL
      • 7.2.1. Global Chemical Tankers Marketby STAINLESS STEEL, 2018–2028(USD Billion)
    • 7.3. Coated
      • 7.3.1. Global Chemical Tankers Marketby Coated, 2018–2028(USD Billion)
  • Chapter 8. Global Chemical Tankers Marketoverview: By Fleet Size
    • 8.1.1. Global Chemical Tankers Marketshare, By Fleet Size , 2020 and 2028
    • 8.2. Inland Chemical Tankers (1,000-4,999 DWT)
      • 8.2.1. Global Chemical Tankers Marketby Inland Chemical Tankers (1,000-4,999 DWT), 2018–2028(USD Billion)
    • 8.3. Coastal Chemical Tankers (5,000-9,999 DWT)
      • 8.3.1. Global Chemical Tankers Marketby Coastal Chemical Tankers (5,000-9,999 DWT), 2018–2028(USD Billion)
    • 8.4. Deep-Sea Chemical Tankers (10,000-50,000 DWT)
      • 8.4.1. Global Chemical Tankers Marketby Deep-Sea Chemical Tankers (10,000-50,000 DWT), 2018–2028(USD Billion)
  • Chapter 9. Company Profiles
    • 9.1. Stult-Nielsen Limited
      • 9.1.1. Overview
      • 9.1.2. Financials
      • 9.1.3. Product Portfulio
      • 9.1.4. Business Strategy
      • 9.1.5. Recent Developments
    • 9.2. Team Tankers International Limited
      • 9.2.1. Overview
      • 9.2.2. Financials
      • 9.2.3. Product Portfulio
      • 9.2.4. Business Strategy
      • 9.2.5. Recent Developments
    • 9.3. Navig8 Limited
      • 9.3.1. Overview
      • 9.3.2. Financials
      • 9.3.3. Product Portfulio
      • 9.3.4. Business Strategy
      • 9.3.5. Recent Development
    • 9.4. Bahri Company
      • 9.4.1. Overview
      • 9.4.2. Financials
      • 9.4.3. Product Portfulio
      • 9.4.4. Business Strategy
      • 9.4.5. Recent Development
    • 9.5. MOL Chemical Tankers
      • 9.5.1. Overview
      • 9.5.2. Financials
      • 9.5.3. Product Portfulio
      • 9.5.4. Business Strategy
      • 9.5.5. Recent Development
    • 9.6. Odfjell SE
      • 9.6.1. Overview
      • 9.6.2. Financials
      • 9.6.3. Product Portfulio
      • 9.6.4. Business Strategy
      • 9.6.5. Recent Development
    • 9.7. MOL Nordic Tankers Trading A/S
      • 9.7.1. Overview
      • 9.7.2. Financials
      • 9.7.3. Product Portfulio
      • 9.7.4. Business Strategy
      • 9.7.5. Recent Development
    • 9.8. MISC Berhad Corporation
      • 9.8.1. Overview
      • 9.8.2. Financials
      • 9.8.3. Product Portfulio
      • 9.8.4. Business Strategy
      • 9.8.5. Recent Development
    • 9.9. Wilmar International Limited
      • 9.9.1. Overview
      • 9.9.2. Financials
      • 9.9.3. Product Portfulio
      • 9.9.4. Business Strategy
      • 9.9.5. Recent Development
    • 9.10. Iino Kaiun Kaisha, Ltd.
      • 9.10.1. Overview
      • 9.10.2. Financials
      • 9.10.3. Product Portfulio
      • 9.10.4. Business Strategy
      • 9.10.5. Recent Development
    • 9.11. Stena Bulk Company
      • 9.11.1. Overview
      • 9.11.2. Financials
      • 9.11.3. Product Portfulio
      • 9.11.4. Business Strategy
      • 9.11.5. Recent Development
    • 9.12. Maersk Tankers
      • 9.12.1. Overview
      • 9.12.2. Financials
      • 9.12.3. Product Portfulio
      • 9.12.4. Business Strategy
      • 9.12.5. Recent Development

List of Figures

1. Market research Type
2. Market research methodology
3. Global Chemical Tankers Market, 2018–2028(USD Billion)
4. Porter’s Five Forces Analysis
5. Global Chemical Tankers Marketattractiveness, By Product Type
6. Global Chemical Tankers Marketattractiveness, By Fleet Type
7. Global Chemical Tankers Marketattractiveness, By Fleet Size
8. Global Chemical Tankers Marketattractiveness, By Fleet Material
9. Global Chemical Tankers Marketshare by Product Type ,2020 and 2028 (USD Billion)
10. Global Chemical Tankers Marketby Organic Chemicals, 2018–2028(USD Billion)
11. Global Chemical Tankers Marketby Inorganic Chemical, 2018–2028(USD Billion)
12. Global Chemical Tankers Marketby Vegetable Fats & Oils, 2018–2028(USD Billion)
13. Global Chemical Tankers Marketshare by Fleet Type ,2020 and 2028 (USD Billion)
14. Global Chemical Tankers Marketby IMO 1, 2018–2028(USD Billion)
15. Global Chemical Tankers Marketby IMO 2, 2018–2028(USD Billion)
16. Global Chemical Tankers Marketby IMO 3, 2018–2028(USD Billion)
17. Global Chemical Tankers Marketshare by Fleet Size ,2020 and 2028 (USD Billion)
18. Global Chemical Tankers Marketby Inland Chemical Tankers (1,000-4,999 DWT), 2018–2028(USD Billion)
19. Global Chemical Tankers Marketby Coastal Chemical Tankers (5,000-9,999 DWT), 2018–2028(USD Billion)
20. Global Chemical Tankers Marketby Deep-Sea Chemical Tankers (10,000-50,000 DWT), 2018–2028(USD Billion)
21. Global Chemical Tankers Marketshare by Fleet Material ,2020 and 2028 (USD Billion)
22. Global Chemical Tankers Marketby STAINLESS STEEL, 2018–2028(USD Billion)
23. Global Chemical Tankers Marketby Coated,  2018–2028(USD Billion)
24. Global Chemical Tankers Marketshare, by Region, 2020 and 2028
25. North America Chemical Tankers Market, 2018–2028(USD Billion)
26. Europe Chemical Tankers Market, 2018–2028(USD Billion)
27. Asia Pacific Chemical Tankers Market, 2018–2028(USD Billion)
28. Latin America Chemical Tankers Market, 2018–2028(USD Billion)
29. The Middle East and Africa Chemical Tankers Market, 2018–2028(USD Billion)
 


List of Tables

1. Global Chemical Tankers Market: snapshot
2. Drivers of the Chemical Tankers Market: impact analysis
3. North America Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
4. North America Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
5. North America Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
6. North America Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
7. The U.S. Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
8. The U.S. Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
9. The U.S. Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
10. The U.S. Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
11. Rest of North America Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
12. Rest of North America Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
13. Rest of North America Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
14. Rest of North America Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
15. Europe Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
16. Europe Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
17. Europe Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
18. Europe Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
19. UK Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
20. UK Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
21. UK Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
22. UK Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
23. France Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
24. France Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
25. France Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
26. France Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
27. Germany Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
28. Germany Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
29. Germany Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
30. Germany Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
31. Rest of Europe Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
32. Rest of Europe Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
33. Rest of Europe Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
34. Rest of Europe Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
35. Asia Pacific Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
36. Asia Pacific Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
37. Asia Pacific Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
38. Asia Pacific Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
39. China Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
40. China Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
41. China Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
42. China Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
43. Japan Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
44. Japan Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
45. Japan Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
46. Japan Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
47. India Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
48. India Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
49. India Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
50. India Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
51. Rest of Asia Pacific Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
52. Rest of Asia Pacific Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
53. Rest of Asia Pacific Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
54. Rest of Asia Pacific Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
55. Latin America Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
56. Latin America Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
57. Latin America Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
58. Latin America Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
59. Brazil Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
60. Brazil Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
61. Brazil Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
62. Brazil Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
63. Rest of Latin America Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
64. Rest of Latin  America Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
65. Rest of Latin America Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
66. Rest of Latin America Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
67. The Middle East and Africa Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
68. The Middle East and Africa Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
69. The Middle East and Africa Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
70. The Middle East and Africa Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
71. Saudi Arabia Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
72. Saudi Arabia Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
73. Saudi Arabia Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
74. Saudi Arabia Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
75. South Africa Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
76. South Africa Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
77. South Africa Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
78. South Africa Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)
79. Rest of the Middle East & Africa Chemical Tankers Marketrevenue, By Product Type  ,2018–2028(USD Billion)
80. Rest of the Middle East & Africa Chemical Tankers Marketrevenue, By Fleet Type ,2018–2028(USD Billion)
81. Rest of the Middle East & Africa Chemical Tankers Marketrevenue, By Fleet Size ,2018–2028(USD Billion)
82. Rest of the Middle East & Africa Chemical Tankers Marketrevenue, By Fleet Material ,2018–2028(USD Billion)


 
 

Methodology

Free Analysis

Chemical tankers are cargo ships designed to transport chemicals in bulk. These tankers transport chemicals in different forms. Moreover, these tankers should comply with the International Bulk Chemical Code (IBC Code), which defines these chemical tankers into three types: ST1, ST2, and ST3. ST1 transports dangerous chemicals that are flammable or toxic. ST2 transports chemicals with important preventive measures. ST3 transports chemicals that need a moderate degree of contaminant. These tankers help in maintaining the consistency of chemicals that are to be transported across the world. Moreover, these tankers are coated with specialized substances to determine the chemicals that are to be shipped. 

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.

Global Chemical Tankers Market

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).

On the basis of geography, the Asia Pacific region accounted for the major share in terms of revenue and volume in 2017 in this market. This growth is attributed to the increasing demand for petrochemicals in countries, such as China, India, and Singapore. Additionally, an increase in the number of chemical industries in South Korea and Japan and the rise in the domestic production of chemicals in India are anticipated to positively influence this market growth in the upcoming years. 

Some of the major players operating in the chemical tankers market are Stolt-Nielsen, Navig8, Bahri, MOL Chemical Tankers, Odfjell, Nordic Tankers, MISC Berhad, Wilmar International, Iino Kaiun Kaisha, Stena Bulk, Team Tankers, and Maersk Tankers.

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FrequentlyAsked Questions

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.

According to Zion market research report, the global Chemical Tankers Market accrued earnings worth approximately 29.11 (USD Billion) in 2020 and is predicted to gain revenue of about 40.12 (USD Billion) by 2028, is set to record a CAGR of nearly 4.7% over the period from 2021 to 2028.

Asia Pacific will contribute lucratively towards the global market earnings over the projected timeline. The regional market surge 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.

The key market participants include 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, and Maersk Tankers. 

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