Get In Touch

Chemical Tankers: Introduction

  • Chemical tankers are cargo ships designed and used to carry liquid chemicals in bulk. Chemical tankers primarily carry industrial chemicals and clean petroleum products. These include palm oil, vegetable oils, tallow, caustic soda, and methanol. Chemicals tankers comprise different types of cargo tanks. Some of these cargo tanks have a specialized coating applied on them such as zinc paint, while others are made from stainless steel. The type of cargo that is carried by chemical tankers depends on the material of cargo tank. Chemical tankers transport hazardous materials of different categories such as major hazards, minor hazards, and harmless hazards.

Key Drivers of Global Chemical Tankers Market

  • The chemical tankers market is expected to expand at a significant pace during the forecast period. Increase in need of safe transportation of various chemicals, hazardous products, and products used in the food industry is expected to boost the market in the near future.
  • Growth of the chemical industry has fueled the demand for water transportation for transferring chemicals from one place to another across the globe. End-use industries such as food & beverages are opting for chemical tankers for transportation of products such as vegetable oil and fats. Increase in production of vegetable oil and fat to meet the rising demand across the globe is boosting the chemical tankers market.
  • Vegetable oil and fats are getting highly popular, as they consist of a higher amount of unsaturated fatty acids compared to animal fats
  • Leading market players are investing significantly in research and development of stainless steel chemical tankers with improved chemical resistance. Stainless steel chemical tankers are also easy to clean. This is fueling the chemical tankers market. International Paint has introduced a new coating technology for chemical tankers, which would enhance cargo resistance and provide zero absorption.

IMO-III Tanker Type Segment to Dominate Global Market

  • International Maritime Organization (IMO) Type-I chemical tankers carry products that are dangerous in nature and require maximum preventive measures. Type-II chemical tankers transport products that require significant preventive measures. Type-III chemical tankers carry products that require a moderate degree of containment.
  • Based on tanker type, the IMO type-III fleet segment accounted for major share of the global chemical tankers market in 2020, owing to its use in various material transportation including chemicals and food and beverages
  • IMO III tankers are used to carry chemical products with high safety and environmental hazards. Demand for IMO-III tankers is high due to extensive applications of natural or organic compounds in various industries. These tankers do not have any restriction on the cargo quantity. Therefore, they are highly preferred among all the three types of tankers.

COVID-19 Impact on Chemical Tankers Market

  • The organic chemicals sector is expected to register a slump in the near future. However, demand for certain chemicals that are used in health care and food sectors is anticipated to rise. China, a major supplier of chemicals to the world, registered a considerable decline in manufacturing in 2020, owing to the COVID-19 pandemic. This has led to an imbalance in supply-demand dynamics, compelling manufacturers and customers alike to renegotiate supply agreements. This majorly impacted the chemical tankers market in 2020.

Asia Pacific to Hold Significant Share of Global Chemical Tankers Market

  • In terms of region, the global chemical tankers market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is estimated to be a rapidly expanding market for chemical tankers during the forecast period. Growth of the chemical tankers market in the region can be ascribed to the expansion of the chemical manufacturing industry in countries such as China, India, Japan, and South Korea.
  • India is a rapidly growing market for chemical tankers in Asia Pacific, owing to increasing demand and manufacture of chemicals in the country. Rise in demand for palm oil and sunflower oil is also fueling the chemical tankers market in Asia Pacific.
  • Chemical production has started rising in North America. Manufacturers are planning to expand capacities owing to the vast natural gas production and low prices. The U.S. distributes a significant portion of its total chemical production to Mexico and Canada, followed by China and Belgium. This is expected to boost the demand for chemical tankers in the country.

Key Players Operating in Market

The chemical tankers market is fragmented with large number of manufacturers operating at domestic level along with few distributors catering to various markets. Key players operating in the global chemical tankers market include:

  • Bahri
  • Stolt-Nielsen
  • Odfjell
  • Navig8
  • MOL Chemical Tankers
  • Nordic Tankers
  • Wilmar International
  • MISC Berhad
  • Team Tankers
  • Iino Kaiun Kaisha

Global Chemical Tankers Market: Research Scope

Global Chemical Tankers Market, by Tanker Type

  • IMO Type-I
  • IMO Type-II
  • IMO Type-III

Global Chemical Tankers Market, by Fleet Size

  • Inland Chemical Tankers
  • Coastal Chemical Tankers
  • Deep-sea Chemical Tankers

Global Chemical Tankers Market, by Fleet Material

  • Stainless Steel
  • Coated

Global Chemical Tankers Market, by Product

  • Organic
  • Inorganic
  • Vegetable Oil & Fat
  • Others

Global Chemical Tankers Market, by End-use Industry

  • Chemical
  • Food & Beverages
  • Shipping
  • Others

Global Chemical Tankers Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Chemical Tankers Market

Pre Book