The
global chemical tanker shipping market is anticipated to
reach USD 2.50 trillion by 2025, according to a new report by Grand View
Research, Inc. The growing chemical trade on account of increasing
manufacturing activities across the world is projected to augment market
demand. The disparity in regional production and demand trends has triggered
the global trade for chemicals and derivatives.
Organic
chemicals such as acetic acid, alcohols, propene, benzene, salt, benzyl
acetate, methanol, formic acid, and phenol are some of the vital substances shipped
through chemical tankers across the world. The U.S., China, Germany, and Russia
are some of the major exporters of chemicals and are expected to foster the
global chemical trade over the coming years.
The
U.S. will probably grow at a high rate on account of increasing number of fleet
owners, shipbuilders & charterers, availability of raw material, and
capital inflow from multinational companies. The expanding market of Asia
Pacific is one the most significant areas for growth due to the presence of a
large number of small manufacturers in the region.
China chemical tanker shipping market revenue by product, 2014 - 2025 (USD Billion)
Browse full
research report on Chemical Tanker Shipping Market : https://www.grandviewresearch.com/industry-analysis/chemical-tanker-shipping-market
Further key
findings from the report suggest:
- The global chemical tanker shipping market was
valued at USD 2.07 trillion in 2016 and is estimated to grow at a growth
rate of 2.1% from 2017 to 2025 to reach a market valuation of USD 2.50
trillion
- Chemical tanker shipping market is concentrated
on account of presence of considerable number of fleet operators
- Competitive freight rates on account of easy
availability of containers through freight forwarders and clearing agents
places higher power in the hands of buyers
- Deep sea chemical tanker shipments accounted
for the most significant share in 2016 and is projected to grow at the
highest CAGR over the coming years on account of extensive international
trade
- IMO III cargo type accounted for the largest
volume share in 2016 due to high shipment of vegetable oils & fats and
other non-volatile chemicals across regions
- Asia Pacific accounted for the most significant
volume share due to presence of major manufacturing counties such as China
and India which have a strong foothold in the chemical industry
- Chemical tanker shipping companies are
expanding their fleets to cater to the growing chemical trade business
globally. New entrants in the market are expected to result in excess
supply of tankers in the industry, thereby reducing charter rates.
- Some of the significant chemical tanker
charters include Navig8 Group, Odfjell SE, Stolt Nielsen, MSC, Stena Bulk,
and Maersk Tankers
Browse more
reports of this category by Grand View Research: https://www.grandviewresearch.com/industry/organic-chemicals-and-compounds
Grand View Research has segmented the global chemical tanker shipping
market on the basis of product, shipment route, cargo type, and region:
Product
Outlook (Volume, Kiloton; Revenue, USD Million, 2014 - 2025)
- Organic
chemicals
- Inorganic
chemicals
- Vegetable
oils & fats
- Others
Shipment
Route Outlook (Volume, Kiloton; Revenue, USD Million, 2014 - 2025)
- Inland
- Coastal
- Deep sea
Cargo Type
Outlook (Volume, Kiloton; Revenue, USD Million, 2014 - 2025)
- IMO I
- IMO II
- IMO III
Regional
Outlook (Volume, Kiloton; Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Asia
Pacific
- China
- India
- Japan
- Central
& South America
- Middle
East & Africa
Access
Press Release By Grand View Research: https://www.grandviewresearch.com/press-release/global-chemical-tanker-shipping-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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