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Chemical Tanker Shipping Global Market Report 2024 Global Market Analysis, Trends, Growth, Research And Forecast 2033
Chemical Tanker Shipping Global Market
As per the report, the chemical tanker shipping market size has grown strongly in recent years. It will grow from $31.61 billion in 2023 to $33.43 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The chemical tanker shipping market size is expected to see strong growth in the next few years. It will grow to $41.75 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
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Surge Of Global Chemical Demand Fueling Growth In The Tanker Shipping Market
The increasing demand for chemicals is expected to propel the growth of the chemical tanker shipping market. The term chemical refers to an element or any combination of these elements. Chemical tanker shipping refers to cargo ships constructed or adapted for carrying liquid chemicals in bulk. This tanker is used for carrying organic chemicals which are any chemical compound containing one or more atoms of carbon covalently linked to atoms of other elements, usually hydrogen, oxygen, nitrogen, and other inorganic chemicals. For instance, in November 2023, according to the IBISWorld, a US-based provider of business intelligence information, as of 2022, there are 3,880 businesses engaged in the manufacturing of chemical products in the United States, reflecting a 2.8% growth compared to the figures reported in 2021. Thus, the increasing demand for chemicals is driving the growth of the chemical tanker shipping market.
The Surge Of Product Innovations In Chemical Tanker Shipping
Product innovations are the key trends gaining popularity in the chemical tanker shipping market. Major operators in the market are innovating new environment-friendly products. For instance, in June 2021 Wuhu Shipyard Co Ltd., a China-based military shipbuilding company launched the 2nd 22000 DWT Hybrid Chemical Tanker for Sweden-based Donsö Shipping AB. It is an environment-friendly chemical tanker with a DC battery bank auxiliary propulsion system that makes zero emissions. It was also the first dual-fuel ship, and ice-class reinforced ship. In addition, it fully complies with International Maritime Organization (IMO) emission standard 3 (Tier III).
The chemical tanker shipping market covered in this report is segmented -
1) By Type: 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)
2) By Cargo Type: IMO I, IMO II, IMO III
3) By Fleet Material: Stainless Steel, Coated, Epoxy
4) By Application: Organic Chemicals, Inorganic Chemical, Vegetables Oils And Fats, Other Applications
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Major companies operating in the chemical tanker shipping market report are Sinochem Corporation, Stolt-Nielsen Ltd., Frontline Ltd., Euronav, Diamond S Shipping Inc., Ardmore Shipping, International Seaways Inc., Petronav Caspian Sea Marine Services Pvt. Ltd., Uni-Tankers A/S, PT. Berlian Laju Tanker Tbk., BW Group, Odfjell SE, Seatrans Group, Team Tankers International Ltd., Tokyo Marine Asia Pte Ltd., Duzgit Group, MOL Chemical Tankers, Nordic Tankers, Alaska Tanker Company, LLC, Hansa Tankers, Navig8 Chemical Tankers Inc., Iino Kaiun Kaisha Ltd., Stena Bulk, Navios Maritime Partners L.P., Maersk Tankers, MOL Nordic Tankers, Algoma Central Corporation, JO Tankers, Eitzen Chemical, Ace Tankers Management B.V., Scorpio Tankers Inc., Teekay Tankers Ltd., TORM
Contents of the report:
1. Executive Summary
2. Chemical Tanker Shipping Market Report Structure
3. Chemical Tanker Shipping Market Trends And Strategies
4. Chemical Tanker Shipping Market - Macro Economic Scenario
5. Chemical Tanker Shipping Market Size And Growth
…..
27. Chemical Tanker Shipping Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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