Global Chemical Tankers Market by Product Types, Shipment Route Types, Cargo Types and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

The chemical tankers market was valued at approximately USD 29Billion in 2019 and is expected to surpass USD 39Billion by 2026, expanding at a CAGR of 4.5% during the forecast period 2020–2026.

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A chemical tanker is a type of tanker ship designed to transport chemicals in bulk. As defined in MARPOL Annex II, chemical tanker means a ship constructed or adapted for carrying in bulk any liquid product listed in chapter 17 of the International Bulk Chemical Code.[1] As well as industrial chemicals and clean petroleum products, such ships also often carry other types of sensitive cargo which require a high standard of tank cleaning, such as palm oil, vegetable oils, tallow, caustic soda, and methanol.

Oceangoing chemical tankers range from 5,000 tones deadweight (DWT) to 35,000 DWT in size, which is smaller than the average size of other tanker types due to the specialized nature of their cargo and the size restrictions of the port terminals where they call to load and discharge. Chemical tankers normally have a series of separate cargo tanks which are either coated with specialized coatings such as phenolic epoxy or zinc paint, or made from stainless steel. The coating or cargo tank material determines what types of cargo a particular tank can carry: stainless steel tanks are required for aggressive acid cargoes such as sulfuric and phosphoric acid, while ‘easier’ cargoes — such as vegetable oil — can be carried in epoxy coated tanks.

Market Trends, Drivers, Restraints, and Opportunities:

• Growing consumer concerns for healthy and hygienic food is also expected to drive vegetable/ animal oil and fats trade which in turn boosts global chemical tanker shipping market over the forecast period.
• Organic chemicals have a broad base of applications and entice significant interest due to their potential industrial uses. Engagement of substantial trade activities coupled with low charter rates for waterborne transportation is expected foster the market over the forecasted period.
• The market is restrained by unstable political conditions. Increasing geopolitical issues among the countries are expected to hinder the market growth over the forecast period.
• There is a huge potential for manufacturers by tapping into different regions. Asia Pacific has the highest population density. It also has highest disposable income. These factors are predicted to increase the demand for vegetable oil as they are provide healthy and hygienic food.

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Competitive Landscape:

The global chemical tankers market has been fragmented by presence of various regional and global players. Global market is fragmented with a large number of regional players in the market. Key players include Odfjell, Stolt- Nielsen Ltd., IINO KAIUN KAISHA Ltd., Tokyo Marine Asia Pte Ltd, MISC, Navig8 chemicals and Nordic tankers. Industry participants have adopted innovative strategies related to environment protection owing to stringent regulations. They are also focusing on quality management and safe transportation techniques. Other players are JO Tankers, Eitzen Chemical, Berlian Laju Tanker, Seatrans chemical tankers and Lomar. North America is expected to attract new players in the market on account of shale gas boom in the region positively impacting ethylene production in the region which in turn is expected to boost organic chemicals shipment supply globally.

The global chemical tankers market has been segmented on the basis of

Product Types

• Organic
• Inorganic
• Vegetable oils & fats

Shipment route types

• Inland
• Coastal
• Deep sea

Cargo Types

• IMO1
• IMO2
• IMO3

Regions

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

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Table of Contents

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Chemical Tankers Market Overview
5. Global Chemical Tankers Market Analysis and Forecast by Type
6. Global Chemical Tankers Market Analysis and Forecast by Application
7. Global Chemical Tankers Market Analysis and Forecast by Sales Channel
8. Global Chemical Tankers Market Analysis and Forecast by Region
9. North Chemical Tankers Market Analysis and Forecast
10. Latin Chemical Tankers Market Analysis and Forecast
11. Europe Chemical Tankers Market Analysis and Forecast
12. Asia Pacific Chemical Tankers Market Analysis and Forecast
13. Middle East & Africa Chemical Tankers Market Analysis and Forecast
14. Competition Landscape

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