Chemical Tankers Market to Grow with a CAGR of 3.93% through 2030

Initiatives taken by the government to support the production of chemical tankers are the major drivers for the Global Chemical Tankers Market.

According to TechSci Research report, “Chemical tankers Market – Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2020-2030F”, the Global Chemical Tankers Market was valued at USD 34.01 billion in 2024 and is expected to reach USD 42.41 Billion by 2030 with a CAGR of 3.93%.

The global chemical tanker industry is witnessing robust growth, primarily fueled by the rising demand for specialty chemicals. These high-value, performance-driven substances are vital to a wide range of industries, including pharmaceuticals, agrochemicals, electronics, and automotive. As these sectors evolve and seek advanced materials, the need for safe and efficient transportation of specialty chemicals has intensified, directly driving the expansion of the chemical tanker market. Specialty chemicals are instrumental in enabling innovation across various applications, from semiconductors and printed circuit boards in electronics to active ingredients in pharmaceuticals and crop protection products in agriculture. Emerging technologies such as 5G, the Internet of Things (IoT), nanotechnology, and 3D printing further accelerate the demand for specialized materials that require customized logistics solutions. Chemical tankers, particularly those with stainless steel tanks and multi-segregation capabilities, play a critical role in transporting these sensitive materials under strict safety and quality standards.

Recognizing the strategic importance of chemical shipping, governments across key regions are supporting the industry through investments in R\&D, infrastructure development, and sustainability initiatives. Funding programs targeting maritime innovation have led to advancements in vessel design, cargo handling systems, and environmentally friendly propulsion technologies. Additionally, improved port facilities, shipyards, and logistics hubs enhance the efficiency and global competitiveness of national fleets. Collaboration has become another key growth enabler. Strategic partnerships among chemical producers, shipping lines, and logistics providers are streamlining supply chains, ensuring timely and secure deliveries, and improving operational integration. For instance, BASF, Stolt Tankers, and Mercurius Shipping have introduced a low-water chemical tanker, Stolt Ludwigshafen, designed to operate on sustainable cargoes, demonstrating the industry's commitment to decarbonization.

Despite this progress, the industry faces headwinds. Volatility in crude oil prices, global energy transitions, and geopolitical tensions can disrupt trade flows and increase operating costs. Nevertheless, the long-term outlook remains positive, driven by continued industrialization, product innovation, and increasing global trade in specialty chemicals. The chemical tanker sector is expected to maintain its upward trajectory by embracing sustainability, technological innovation, and global collaboration.

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Based on fleet materials, the coated segment was expected to dominated the chemical tankers market in 2024. Coated chemical tankers, typically lined with epoxy or phenolic coatings, are widely used due to their cost-efficiency and versatility in transporting a broad range of chemicals, including less corrosive and bulk liquid cargoes such as vegetable oils, methanol, and caustic soda. Their ability to carry multiple grades of chemicals in segregated tanks makes them highly attractive for operators aiming to serve varied cargo requirements efficiently. Moreover, the ease of maintenance and relatively lower capital investment compared to stainless steel tankers contributes to their strong adoption. As a result, the coated tanker fleet continues to expand, catering to the growing demand from global chemical producers, particularly in Asia and the Middle East. This trend positions the coated segment as the leading contributor to market share within the chemical tanker industry in 2024.

Based on regional analysis, South America is expected to be the fastest-growing segment in the global chemical container market in 2024. The region is witnessing robust industrial expansion, particularly in the chemical, petrochemical, and agricultural sectors, which is driving the demand for reliable and safe chemical storage and transportation solutions. Countries like Brazil, Argentina, and Colombia are experiencing rising investments in chemical manufacturing and exports, including agrochemicals and industrial chemicals. This growth is further supported by favorable trade policies, the expansion of free trade agreements, and government initiatives to boost domestic production capabilities. The increasing focus on environmental compliance, safety standards, and infrastructure development in South America is encouraging the adoption of high-quality chemical containers. These factors collectively position South America as the fastest-growing regional market for chemical containers in the near term.

Some of the major companies operating in the Global Chemical Tankers Market include:

·         Mol Chemical Tankers Pte. Ltd.

·         Nordic Tankers A/S

·         Wilma International Ltd.

·         Misc Berhad

·         Team Tankers International Ltd.

·         Iino Kaiun Kaisha, Ltd.

·         Laurine Maritime

·         Aurora Tankers Management Pte. Ltd.

·         Tokio Marine Asia Pte. Ltd.

·         PT Berlian LAju Tanker Tbk

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“The global chemical container market is witnessing steady growth, driven by the expanding chemical and petrochemical industries, increasing international trade, and rising demand for safe storage and transport of hazardous materials. Containers made from high-quality materials like stainless steel, plastic, and coated metals are essential for ensuring safety, compliance, and durability. Key end-use industries include pharmaceuticals, agrochemicals, and industrial chemicals. Technological advancements in container design, along with growing regulatory focus on safe chemical handling, are further fueling market growth", said Mr. Karan Chechi, Research Director of TechSci Research, a research-based Global management consulting firm.

"Chemical Tankers Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Organic Chemicals, Inorganic Chemicals, Vegetable Oils & Fats and Others), By Fleet Type (IMO Type 1, IMO Type 2 and IMO Type 3), By Fleet Material (Stainless Steel and Coated), By Region and Competition,2020-2030F", has evaluated the future growth potential of Global Chemical Tankers Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Chemical Tankers Market.

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