Global Chemical Tanker
Market Report
2025
Chemical tankers Market will be USD 33618.6 million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
The base year for the calculation is 2024 and 2021 to 2024 will be historical period. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access.
Share your contact details to receive free updated sample copy/pages of the recently published edition of Chemical Tanker Market Report 2024.
According to Cognitive Market Research, the global market for chemical tankers will be USD 33618.6 million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
2019 | 2024 | 2025 | 2032 | 2033 | CAGR | |
---|---|---|---|---|---|---|
Global Chemical Tanker Market Sales Revenue | 121212 | $ 33618.6 Million | 121212 | 121212 | 121212 | 5% |
North America Chemical Tanker Market Sales Revenue | 121212 | $ 13447.4 Million | 121212 | 121212 | 121212 | 3.2% |
Europe Chemical Tanker Market Sales Revenue | 121212 | $ 10085.6 Million | 121212 | 121212 | 121212 | 3.5% |
Asia Pacific Chemical Tanker Market Sales Revenue | 121212 | $ 7732.28 Million | 121212 | 121212 | 121212 | 7% |
South America Chemical Tanker Market Sales Revenue | 121212 | $ 1680.93 Million | 121212 | 121212 | 121212 | 4.4% |
Middle East and Africa Chemical Tanker Market Sales Revenue | 121212 | $ 672.37 Million | 121212 | 121212 | 121212 | 4.7% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Product Type |
|
Market Split by Fleet Type |
|
Market Split by Fleet Size |
|
Market Split by Fleet Material |
|
List of Competitors |
|
Regional Analysis |
|
Country Analysis |
|
Report scope is customizable as we have a huge database of Chemical Tanker industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Chemical Tanker Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Chemical tankers are ships designed to transport liquid chemicals in bulk. They are equipped with specialized tanks and safety features to handle various types of hazardous and non-hazardous chemicals safely at sea. The chemical tanker market is witnessing growth due to increasing chemical demand worldwide. Key players are implementing diverse strategies to maintain competitiveness. Some focus on fleet expansion to meet growing demand, while others prioritize technological advancements for safer and more efficient operations. Strategic alliances and partnerships are common to enhance market presence and expand geographic reach. Additionally, sustainability initiatives, such as investments in eco-friendly vessels and compliance with stringent regulations, are gaining prominence to address environmental concerns and secure long-term viability.
For instance, in September 2021, Aurora Tankers, the tanker arm of IMC Shipping, completed its latest building series with the launch of its 50,000 dwt IMO II MR Chemical Tanker, Maritime Verity.
Environmental regulations and concerns influence the chemical tankers market. These vessels are crucial for transporting chemicals globally, yet face stringent regulations due to potential environmental risks. Compliance with emissions, waste disposal, and cargo handling regulations is paramount. Additionally, concerns about spills, contamination, and the impact on marine ecosystems drive demand for eco-friendly technologies and practices within the industry. Balancing economic interests with environmental responsibilities remains a challenge, shaping the dynamics of the chemical tankers market.
For instance, in February 2024, the Singapore-based Ofer family company Eastern Pacific Shipping announced that it would install three 22-meter eSails from bound4blue on board the 2019-built chemical tanker Pacific Sentinel later this year.
The chemical tankers market is witnessing significant growth, driven by increasing global chemical trade. These specialized vessels safely transport various chemicals, petroleum products, and liquefied gases across oceans. Technological advancements, such as enhanced corrosion-resistant coatings, improved cargo monitoring systems, and eco-friendly propulsion systems, are transforming the industry. These developments ensure safer and more efficient transportation, reducing environmental impacts and operational costs. As regulations tighten and sustainability becomes a priority, innovation in chemical tanker technology remains crucial for meeting industry demands and maintaining competitiveness.
For instance, in March 2024, Chemical tanker operator MOL Chemical Tankers, a subsidiary of Japanese shipping major Mitsui O.S.K. Lines (MOL), completed the acquisition of all shares of Fairfield Chemical Carriers (FCC), a chemical tanker service company based in the US.
(Source: https://www.offshore-energy.biz/mol-wraps-up-acquisition-of-fairfield-chemical-carriers-for-400m/ )
The chemical tanker market is restrained by stringent environmental regulations, escalating operational costs, and safety concerns. Compliance with evolving regulations demands substantial investments in technology and infrastructure, limiting profit margins. Fluctuations in crude oil prices exacerbate this challenge by impacting shipping costs, vessel profitability, and overall market stability. Uncertainty surrounding oil prices leads to unpredictable operating expenses, hindering long-term strategic planning and investment decisions within the chemical tanker industry.
The chemical tankers market experienced fluctuations due to COVID-19. Initially, pandemic-related restrictions hindered trade, causing a temporary dip in demand for chemical transportation. However, as economies gradually reopened, demand rebounded due to increased production and distribution of essential chemicals like sanitizers and pharmaceuticals. Moreover, stringent health and safety measures in the industry were implemented to mitigate the spread of the virus onboard vessels. Overall, while COVID-19 posed challenges, the chemical tankers market demonstrated resilience, adapting to changing global dynamics.
We have various report editions of Chemical Tanker Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.
September 2023, Japan’s Fukuoka Shipbuilding has launched Fairfield Chemical’s second in the series of four LNG dual-fuel stainless steel chemical tankers.
(Source: https://lngprime.com/lng-as-fuel/fairfield-chemicals-lng-powered-tanker-launched-in-japan/91746/ )
Top Companies Market Share in Chemical Tanker Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue due to the region's flourishing chemical industry and stringent safety regulations. The market witnesses steady growth with increasing demand for safely transporting chemicals across borders. Major players continuously invest in advanced technologies for safer and more efficient transportation. North America's strategic location and extensive infrastructure further bolster its prominence in the global chemical tanker industry, ensuring continued expansion and competitiveness in the region.
Europe is the fastest-growing region over the projected period, owing to increasing demand for specialized transportation of hazardous chemicals. Key players such as Stolt-Nielsen, Odfjell, and Team Tankers dominate the region, ensuring high safety and efficiency standards. With Europe being a major chemical manufacturing hub, these tankers are vital in transporting various chemicals across the continent and internationally. Continuous innovation and adherence to environmental standards further enhance the market's sustainability and competitiveness.
The current report Scope analyzes Chemical Tanker Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
To learn more about geographical trends request the free sample pages.
Get Free Sample
According to Cognitive Market Research, the global chemical tankers market size was estimated at USD 33618.6 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 13447.44 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.20% from 2024 to 2031 due to increasing demand for chemicals and petrochemicals, stringent regulations for transporting hazardous materials, and technological advancements in vessel design ensuring safety and efficiency in transportation. According to Cognitive Market Research, the market is driven by the demand for transporting vegetable oils and fats. Growing consumption of these products, coupled with stringent safety regulations, fuels the need for specialized vessels, boosting the chemical tanker industry in the region. In conclusion, North America's chemical tanker market is boosted due to technological advancements.
Country Analysis
According to Cognitive Market Research, the global chemical tankers market size was estimated at USD 33618.6 Million, out of which Europe held the major market of more than 30% of the global revenue with a market size of USD 10085.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.5% from 2024 to 2031 due to stringent regulations governing chemical transportation, necessitating specialized vessels with advanced safety features. Additionally, increasing demand for petrochemical products and bulk liquid chemicals fuels the market's growth, with a focus on sustainable and efficient transport solutions. According to Cognitive Market Research, the market is driven by the continent's robust manufacturing sector, stringent safety regulations, and strategic geographical positioning, facilitating efficient transportation networks and fostering growth and stability in the industry. In conclusion, the region's chemical tankers market is driven by the increased production of chemicals and oversupply in the chemical tankers industry.
According to Cognitive Market Research, the global chemical tankers market size was estimated at USD 33618.6 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 7732.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031 due to region's increasing chemical trade, industrialization, and demand for petrochemical products. Rising consumption of chemicals, stringent safety regulations, and infrastructure investments further bolster the region's market expansion. According to Cognitive Market Research, the market is driven by increasing demand for inland chemical transportation. In particular, vessels with capacities ranging from 1,000 to 4,999 DWT play a crucial role, catering to the region's growing need for efficient and reliable inland chemical logistics. In conclusion, the market is expected to grow substantially, fostering innovation and sustainability in the energy sector.
According to Cognitive Market Research, the global chemical tankers market size was estimated at USD 33618.6 Million, out of which Latin America market has more than 5% of the global revenue with market size of USD 1680.93 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031 due to increasing demand for chemical transportation due to growth in manufacturing industries, stringent environmental regulations, and rising investments in infrastructure. According to Cognitive Market Research, the market is driven by escalating global demand for edible oils, changing dietary habits, and expanding food markets. The health-conscious consumer trend and growing awareness of healthier dietary options contribute to the rapid growth in the transportation of vegetable oils and fats, reflecting evolving consumption patterns. In conclusion, expanding chemical production and focusing on safety and efficiency drive the region's chemical tankers market.
According to Cognitive Market Research, the global chemical tankers market size was estimated at USD 33618.6 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 672.37 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031 due to region's industrialization and increasing demand for petrochemicals. Stringent regulations regarding chemical transportation safety further boost market growth, with the expansion of chemical production facilities also contributing to increased demand for specialized tanker services. According to Cognitive Market Research, stainless steel tanks are preferred due to their corrosion resistance and durability, ensuring secure transport, meeting stringent safety standards, and reducing environmental risks in the region. In conclusion, the region's chemical tankers market is driven by a rising need for adaptable solutions to meet diverse industry requirements.
Global Chemical Tanker Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Chemical Tanker Industry growth. Chemical Tanker market has been segmented with the help of its Product Type, Fleet Type Fleet Size, and others. Chemical Tanker market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, organic chemicals held the major market stake over the projected period due to increasing demand for transporting organic chemicals worldwide. These tankers are crucial for safely and efficiently transporting various organic compounds, including solvents, acids, and alcohols. Globalization, industrialization, and the need for specialized handling contribute to the market's growth and sustainability.
Vegetable oils & fats are the fastest-growing category over the forecast period due to increasing demand for vegetable oils and fats transportation, driven by expanding food and biodiesel industries. These tankers facilitate the safe and efficient transport of various chemicals, including edible oils and fats, meeting stringent regulatory standards while ensuring product integrity. Global trade dynamics and technological advancements in vessel design further propel market growth.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Chemical Tanker Industry. Request a Free Sample PDF!
According to Cognitive Market Research, IMO 3 holds a prominent market share due to the increasing global trade in chemicals and petroleum products. The International Maritime Organization (IMO) classifies these vessels as IMO Type 3. They are designed to transport hazardous chemicals, offering specialized features for safety and environmental protection, thus meeting stringent regulatory requirements.
IMO 2 is the fastest-growing category over the forecast period due to increasing demand for chemical transportation, stringent safety regulations, and growing chemical trade worldwide. The IMO 2 classification, indicating tanks suitable for the carriage of noxious liquid substances, influences market dynamics by ensuring compliance with international standards for the safe transportation of chemicals.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
To learn more about market share request the free sample pages.
Get Free Sample
According to Cognitive Market Research, coastal chemical tankers (5.000-9,999 DWT) hold a prominent market due to the rising demand for chemical transportation spurred by industries like pharmaceuticals, agriculture, and manufacturing. Coastal chemical tankers (5,000-9,999 DWT) cater to short-sea routes, offering efficient and flexible transport solutions for regional chemical distribution, contributing significantly to the market's growth and regional economic development.
Deep-sea chemical tankers (10,000-50,000 DWT) are the fastest-growing category over the forecast period due to increasing demand for transporting chemicals globally, stringent regulations for safe transportation, and growth in chemical manufacturing industries. These tankers are essential for transporting various chemicals across long distances, catering to the needs of the chemical industry, and ensuring supply chain efficiency.
According to Cognitive Market Research, stainless steel is prominent in the market due to the rising demand for specialized transport of chemicals, which is driven by industrial growth. Stainless steel tanks play a vital role in offering corrosion resistance and maintaining product quality during transit. Increasing global chemical production and stringent safety regulations fuel the demand for stainless steel-equipped chemical tankers.
Coated is the fastest-growing category over the forecast period due to increasing chemical demand worldwide. Coated tankers are favored for transporting corrosive substances, offering protection against chemical reactions. Stringent regulations and safety concerns bolster the need for advanced coating technologies, ensuring the safe transport of hazardous materials and thereby propelling the growth of coated chemical tankers.
Senior Analyst at Cognitive Market Research
I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building.
I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building. I fulfill data requirements with thorough research and analytics. ME and My research team provide intelligence on industry stats, market structure, company profiles/Competition Analysis, Forecast Mapping, and Recently started providing the COVID-19 Impact Analysis.
Specialties: Industry research, Company analysis, Location Strategy, Tech Research, Change Management, Process Improvement, Peer Group Benchmarking, Startup Ecosystem, Crypto Research, COVID19 Impact Analysis, etc.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
https://www.epa.gov/regulatory-information-sector/construction-sector-naics-23
https://www.usace.army.mil/Missions/Civil-Works/Engineering-and-Construction/
https://www.abs.gov.au/statistics/industry/building-and-construction
https://business.gov.au/planning/industry-information/construction-industry
https://www.usitc.gov/research_and_analysis/tradeshifts/2021/footwear
Disclaimer:
Product Type | Organic Chemicals, Inorganic Chemicals, Vegetable Oils & Fats, Others (Additives, Lube Oils, and Molasses) |
Fleet Type | IMO 1, IM0 2, IMO 3 |
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) |
Fleet Material | Stainless Steel, Coated |
List of Competitors | Stolt-Nielsen Limited - Norway, Odfjell SE - Norway, MISC Berhad - Malaysia, Navig8 Chemical Tankers Inc. - Marshall Islands, Iino Kaiun Kaisha Ltd - Japan, Eitzen Chemical ASA (JACCAR Holdings) - Norway, Ardmore Shipping Corporation - Ireland, MOL Chemical Tankers - Japan, Hafnia - Denmark, Norden - Denmark, Chembulk Tankers – USA, Team Tankers International - Norway, Dorian LPG Ltd - USA, Pacific Carriers Limited - Singapore, Odfjell Terminals - USA, Univanich Palm Oil Public Company Limited - Thailand, Jo Tankers - Norway, Hoyer Group - Germany, Laurin Maritime AB - Sweden, MOL Nordic Tankers - Denmark |
This chapter will help you gain GLOBAL Market Analysis of Chemical Tanker. Further deep in this chapter, you will be able to review Global Chemical Tanker Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Chemical Tanker. Further deep in this chapter, you will be able to review North America Chemical Tanker Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Chemical Tanker. Further deep in this chapter, you will be able to review Europe Chemical Tanker Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Chemical Tanker. Further deep in this chapter, you will be able to review Asia Pacific Chemical Tanker Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Chemical Tanker. Further deep in this chapter, you will be able to review South America Chemical Tanker Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of Chemical Tanker. Further deep in this chapter, you will be able to review Middle East and Africa Chemical Tanker Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of Chemical Tanker. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Type Analysis 2019 -2031, will provide market size split by Product Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Fleet Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Fleet Size Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 13 Market Split by Fleet Material Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Chemical Tanker market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Organic Chemicals have a significant impact on Chemical Tanker market? |
What are the key factors affecting the Organic Chemicals and Inorganic Chemicals of Chemical Tanker Market? |
What is the CAGR/Growth Rate of IMO 1 during the forecast period? |
By type, which segment accounted for largest share of the global Chemical Tanker Market? |
Which region is expected to dominate the global Chemical Tanker Market within the forecast period? |
Segmentation Level Customization |
|
Global level Data Customization |
|
Region level Data Customization |
|
Country level Data Customization |
|
Company Level |
|
Additional Data Analysis |
|
Additional Qualitative Data |
|
Additional Quantitative Data |
|
Service Level Customization |
|
Report Format Alteration |
|