New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Chemical Tankers Global Market Report 2023" - https://www.reportlinker.com/p06313443/?utm_source=GNW
, Wilmar International Ltd., IMC Tankers, Koyo Kaiun, PT Berlian Laju Tanker Tbk, Stena Bulk, Ultratank, and Womar.
The global chemical tankers market grew from $32.45 billion in 2022 to $34.48 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The chemical tankers market is expected to grow to $44.02 billion in 2027 at a CAGR of 6.3%.
The chemical tanker market consists of sales of parcel chemical tankers and dedicated chemical tankers.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The chemical tankers are used to transport any chemicals compound in bulk that can be exceedingly hazardous, with the majority of them being flammable and/or toxic, and some of them being extremely hazardous. Chemical tanker structural layouts and arrangements are frequently comparable to those outlined for oil tankers and required to comply with various safety aspects.
Asia-Pacific was the largest region in the chemical tanker market in 2022.Asia-Pacific is expected to be the fastest-growing region in the market.
The regions covered in the chemical tanker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of chemical tankers are organic chemicals, inorganic chemicals, vegetable oils and fats.Organic chemicals refer to carbon and its compounds are a large class of chemicals.
Many of these substances will contain hydrogen, oxygen, nitrogen, Sulphur, phosphorus, and other elements, with or without oxygen.The tankers use materials such as stainless steel and coats and are divided by cargo Types into IMO 1, IMO 2, and IMO 3.
The size of the tankers is 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).
The chemical tankers market research report is one of a series of new reports that provides chemical tankers market statistics, including chemical tankers industry global market size, regional shares, competitors with a chemical tankers market share, detailed chemical tankers market segments, market trends and opportunities, and any further data you may need to thrive in the chemical tankers industry. This chemical tankers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growth of the chemical industry is expected to propel the growth of the chemical tankers market.Companies in the chemical industry will require chemical tankers to transport and shift their chemical compounds from one location to another.
This factor creates a demand for chemical tankers. According to the American Chemistry Council, 2021, the USA chemical industry will maintain its net exporter position, supporting total U.S. goods exports. By 2025, net exports of chemicals in the USA will reach $40.5 billion and chemical industry shipments are expected to reach $668 billion. As major economies reopen and import demand in partner economies increases, US chemical exports are likely to grow dramatically. Therefore, the growth of the chemical industry drives the chemical tankers market.
Technological advancement are shaping the chemical tankers market.Many companies are investing in the innovation and development of chemical tankers to provide ease, accessibility, convenience, and affordability to their users.
For instance, in March 2021, SCF a Russian-based subsidiary of Sovcomflot launched its first LNG-Powered MR Chemical tanker.The MR kind of chemical tanker is designed to transport oil products and gas condensate.
The vessels’ power units will run on ecologically friendly LNG, reducing the volume of emissions into the atmosphere dramatically. The tanker will be around 50 000 tons, with a length of over 180 meters, a width of over 32 meters, and a draught of -13,4 meters. 1B ice-class vessels can safely navigate throughout the year, including in ice conditions in the Baltic Sea.
In August 2020, Stolt-Nielsen Limited a UK-based company focused on opportunities in logistics, distribution, and aquaculture acquired five chemical tankers from Chemical Transportation Group for an undisclosed amount.Through this acquisition, Stolt-Nielsen Limited is planning to replace ships being retired in the next few years, lowering the fleet age profile with competitively priced ships that can trade in any of the deep-sea lanes.
The aim is to provide a high-quality, reliable, and flexible service offering to clients. Chemical Transportation Group (CTG) is a US-based chemical transportation group.
The countries covered in the chemical tankers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The chemical tankers market research report is one of a series of new reports that provides chemical tankers market statistics, including chemical tankers industry global market size, regional shares, competitors with a chemical tankers market share, detailed chemical tankers market segments, market trends and opportunities, and any further data you may need to thrive in the chemical tankers industry. This chemical tankers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06313443/?utm_source=GNW
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