Global Chemical Tanker Market Is Expected To Reach Nearly USD 5 Billion In 2022

Global sales of the chemical tanker in 2018 surpassed 130 units and is anticipated to expand at a moderate pace over the midterm forecast period, according to a recently published study by Fact.MR. APAC is estimated to be the leading region accounting for more than 35 percent share (Volume) in the global chemical tanker market, owing to increased seaborne trade and demand from end-use sectors. APAC is closely followed by Europe. In terms of value and quantity during the forecast period, the Asia Pacific chemical tanker market is also expected to grow at a significant CAGR. Within Asia Pacific, China is expected to lead the market for chemical tankers in the Asia Pacific. The worldwide market for chemical tankers accumulates maximum earnings made by shipping chemicals and their related products. The expanding chemical industry and chemical producers ' increasing capacity drive the demand for chemical tankers around the globe. Growing fleet size shows that there is potential for gradual growth in the coming years.

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Massive Consolidation will be Witnessed in the Ocean Going Chemical Tanker Market

The chemical tanker majors such as Stolt- Nielsen, Odfjell, MOL Nordic Tanker, Navig8 Tanker and Team Tanker secured eminent positions in the global chemical tanker market. Top operators hold a total fleet of more than 370 tankers.

North America is expected to attract new competitors to the chemical tanker market due to a boom in shale gas.

The region is expected to have a positive impact on the production of ethylene, which is also expected to boost the supply of organic chemicals worldwide. Resilient exports from the U.S. and the Middle East have been key drivers, which has also had an impact on other trade routes.

The global market for chemical tanker in the shipping industry is consolidated with a small number of leading players.

These major players have implemented a policy of contracts to improve their share in the market for chemical tankers and to meet the growing demand for chemical tankers used for shipping chemicals and chemical goods. Some of the key developments being undertaken by leading competitors are

In 2018, Eastern Pacific reportedly bought thirteen 19,000 dwt stainless steel chemical tankers from the BW Group. These chemical tankers will be operated by Ace Quantum, which will manage the largest fleet of stainless steel ships in this size in the future with a total of 33 chemical tankers in the water.
In 2019, Team Tankers announced the acquisition of Laurin Maritime and Anglo-Atlantis Chemical Tankers for $206 million, a deal which added 34 coated IMO II/III MR chemical tankers to its existing fleet of 33 chemical tankers.

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Chemical Tanker Market: In-Depth Assessment on Key Segments-

The global chemical tanker market is segmented by fleet, tanker capacity, material, chemical and region

Grade (% of Demand)

IMO 1
IMO 2
IMO 3

Tanker Capacity

Less than 10,000 dwt
10,000 - 19,999 dwt
More Than 20,000 dwt

Material

Stainless Steel
Epoxy
Others

Chemical

Organic Chemicals
Inorganic Chemicals
Vegetable Oils & Fats

Region

North America
Latin America
Europe

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The report answers important questions which include:

Why is player leading the in region?
Which factors pose a negative impact on the growth?
What was the value registered in 2022?
What challenges do the players face during R&D stages?
Which countries contribute a significant share to the total revenue in region?

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