Chemical Tanker Shipping Market Helpful in Transportation Infrastructure Across the Region,Growth By 2024

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In the past few years, the array of chemicals transported in bulk has significantly expanded and special varieties of ships
are being extensively used to meet the need. Apart from the specialist ships designed to ship bulk chemicals by sea,
transportation of bulk chemicals also requires special training for the crew involved in the entire process, starting from
construction/design of the vessels to loading, storing, discharge, and tank cleaning operations. Owing to the complex
characteristics of the various chemicals commonly transported in bulk through carriers, it is critical that the crew is aware
of the potential risks associated with handling them.
The increased focus on all these factors has led to vast research and development in the overall market for chemical
tanker shipping in the past few years. The introduction of industry best practice guidelines has enriched the field of
chemical tankers, ensuring the safety of those associated with the entire shipping process. The global market for the
specialist ships so designed/constructed/adapted for the purpose has also witnessed significant positive developments as
a result.
This report presents exhaustive data about the global chemical tanker shipping market, expected to be helpful to readers
working across fields such as key suppliers of liquefied chemicals, chemical transportation, chemical processing, chemical
handling, and bulk chemical services.
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Global Chemical Tanker Shipping Market: Segmentation
Modern chemical tankers are chiefly designed to ship some of the vast number of hazardous chemicals covered by the
International Maritime Organization Bulk Chemical Codes. A variety of types of chemical tankers are generally used for
shipping chemicals in bulk. The segmentation can be done on the basis of criteria such as the type of chemical being
carried by the tanker, the type of coating used in the tanker, transportation routes, and product type.
On the basis of the type of chemical being carried by the tanker: IMO type I, IMO type II, and IMO type III. The IMO I type
of tankers are used for shipping most hazardous chemicals. IMO type II tankers are used to ship less hazardous
chemicals, and the IMO type III tankers are used to ship the least hazardous varieties of chemicals. Of these, the IMO
type II and type III chemical tankers are most commonly used as compared to the IMO type I tankers as type I tankers
require detailed and complex arrangements, modern equipment, and well-trained resources for transportation.
On the basis of type of coating used in the chemical tanker, based on which the type of cargo to be carried by the tanker
is determined, the market for chemical tanker shipping can be segmented into stainless steel tanks and epoxy coated
tankers. For the transportation of aggressive acids, such as sulfuric and phosphoric acid, stainless steel tanks are
commonly utilized. Epoxy coated chemical tankers are mostly used for the transportation of vegetable oil. On the basis of
product type, the chemical tanker shipping market by can be segmented into organic oil, inorganic oil, vegetable oil,
animal oil, and fats.
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Global Chemical Tanker Shipping Market: Geographical Dynamics
From a geographic perspective, the global chemical tanker shipping market has been examined in the report for regional
markets such as Europe, North America, Asia Pacific, and Middle East and Africa. Of these, the Asia Pacific market
presently dominates the global chemical tanker shipping market. Nearly one-third of the total revenue of the global
chemical tanker shipping market is contributed by the Asia Pacific market and the regional market is expected to witness
significant growth owing to the flourishing refinery/petrochemical market and increased focus and funds invested towards
the development of sea transportation infrastructure in the region.
Moreover, the rising GDPs of emerging economies such as India, China and Singapore in the region are also driving
increased demand for a variety of chemicals, hence driving the market for chemical tanker shipping market. The Europe
chemical tanker shipping market follows Asia Pacific and is expected to remain one of the most promising regions for the
chemical tanker shipping market. Rapid development of the shale gas industry is expected to be the key driving force for
the North America market. The market in Middle East is expected to be driven by refinery expansion projects.
Companies Discussed in the Report
Some of the key companies operating in the market are Eitzen Chemical, Seatrans chemical tankers, Odfjell, JO Tankers,
Stolt-Nielsen Ltd, Tokyo Marine Asia Pte Ltd., Nordic Tankers, Navig8 Chemicals, IINO KAIUN KAISHA Ltd., and Berlian
Laju Tanker.
The study is a source of reliable data on:
 Key market segments and sub-segments
 Evolving market trends and dynamics
 Changing supply and demand scenarios
 Quantifying market opportunities through market sizing and market forecasting
Tracking current trends/opportunities/challenges
Competitive insights
Opportunity mapping in terms of technological breakthroughs
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market
projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model
analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors
essential for the existing market players and new entrants along with detailed value chain analysis.
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Global Chemical Tanker Shipping Market to be driven by Increase in demand for chemicals globally, demand for large tankers above 1000 tons DWT as this type of chemical tankers are required for carriage of goods among different regions.