The global Chemical Tankers Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Product (Organic Chemicals, Inorganic Chemicals, Vegetable Oils & Fats, Others), By Fleet Type (IMO 1, IMO 2, IMO 3), By Fleet Material (Stainless Steel, Coated), By Fleet Size (Inland Chemical Tankers, Coastal Chemical Tankers, Deep-Sea Chemical Tankers).
The chemical tankers market s to thrive in 2024, propelled by the increasing global trade of chemicals, petroleum products, and liquefied gases, along with the growing demand for specialized maritime transportation services. Chemical tankers are purpose-built vessels designed to transport a wide range of bulk liquid cargoes, including acids, solvents, vegetable oils, and liquefied gases, in a safe and efficient manner. The market is witnessing a shift towards the construction of eco-friendly and technologically advanced tankers equipped with state-of-the-art cargo handling systems, inert gas systems, and ballast water treatment systems to comply with stringent environmental regulations and ensure cargo integrity. Further, the emergence of shale gas and renewable energy sources has led to changes in the global chemical trade patterns, driving investments in new routes, ports, and infrastructure for chemical tanker operations. Furthermore, technological innovations such as digitalization, predictive maintenance, and autonomous navigation are transforming the operational efficiency and safety standards of chemical tanker fleets, thereby shaping the future of the market.
The market report analyses the leading companies in the industry including Bahri, Iino Kaiun Kaisha, MISC Berhad, MOL Chemical Tankers, Navig8, Nordic Tankers, Odfjell, Stolt-Nielsen, Team Tankers, Wilmar International, and others.
A prominent trend in the chemical tanker market is the increasing emphasis on environmental sustainability and regulatory compliance in the transportation of chemicals and hazardous materials. With growing concerns about pollution, greenhouse gas emissions, and marine ecosystem protection, there is a heightened focus on adopting eco-friendly practices and technologies in the maritime industry. This trend is driven by stringent environmental regulations, such as the International Maritime Organization's (IMO) MARPOL regulations, which mandate the reduction of air and water pollution from shipping activities. As a result, there is a shift towards the use of cleaner fuels, emission control systems, ballast water treatment technologies, and sustainable ship design practices in the chemical tanker sector. Additionally, industry initiatives such as the Green Shipping Program and the Poseidon Principles encourage shipping companies to invest in energy-efficient vessels, alternative propulsion systems, and carbon offsetting measures to minimize their environmental footprint. As stakeholders across the supply chain prioritize sustainability and corporate social responsibility, the demand for eco-friendly chemical tanker solutions is expected to continue to grow, driving market transformation and innovation in shipbuilding, operations, and logistics.
An essential driver propelling the chemical tanker market is the globalization of chemical trade and the expansion of the chemical industry, which drive the demand for efficient and reliable transportation of bulk liquid chemicals and petroleum products. With the increasing production and consumption of chemicals worldwide, there is a rising need for specialized tanker vessels capable of safely transporting a diverse range of chemical cargoes, including acids, solvents, liquefied gases, and petroleum derivatives. This driver is fueled by factors such as population growth, urbanization, industrialization, and the globalization of supply chains, which create demand for chemicals for various applications in sectors such as manufacturing, agriculture, healthcare, and construction. Additionally, emerging economies with growing chemical manufacturing sectors, such as China, India, and Brazil, contribute to the expansion of chemical trade routes and the demand for dedicated chemical tanker fleets to support import and export activities. As the chemical industry continues to grow and diversify, the need for efficient and flexible transportation solutions remains a key driver of market growth and investment in the chemical tanker segment.
A potential opportunity for the chemical tanker market lies in the adoption of digitalization and smart shipping technologies to enhance operational efficiency, safety, and sustainability in tanker operations. With advancements in sensor technology, data analytics, connectivity, and automation, there is an opportunity to optimize vessel performance, voyage planning, cargo management, and fuel efficiency through the integration of digital solutions and intelligent shipping systems. Chemical tanker operators can leverage real-time data insights, predictive analytics, and condition monitoring tools to optimize route planning, minimize fuel consumption, and reduce emissions during voyages. Furthermore, there is an opportunity to implement remote monitoring and control systems, autonomous navigation technologies, and blockchain-based platforms to streamline logistics, ensure regulatory compliance, and enhance transparency and traceability in chemical cargo transportation. By embracing digitalization and smart shipping initiatives, chemical tanker companies can improve operational resilience, mitigate risks, and capitalize on cost savings opportunities, while also demonstrating their commitment to sustainability and innovation in the maritime industry.
The largest segment in the Chemical Tankers Market is Organic Chemicals. Organic chemicals constitute a wide range of products, including petrochemicals, solvents, acids, and alcohols, among others. These chemicals are essential raw materials used in various industries such as pharmaceuticals, plastics, agriculture, and manufacturing. Chemical tankers are specifically designed to transport hazardous and non-hazardous liquid chemicals in bulk quantities across oceans, rivers, and other water bodies. The demand for organic chemicals is driven by their widespread use in manufacturing processes and consumer products. Factors such as population growth, urbanization, industrialization, and technological advancements contribute to the increasing consumption of organic chemicals worldwide. As a result, the transportation of organic chemicals via chemical tankers remains a critical component of global logistics infrastructure, making it the largest segment in the Chemical Tankers Market.
The fastest-growing segment in the Chemical Tankers Market is the IMO 2 fleet type. IMO 2 tankers are designed to transport moderately hazardous liquid chemicals with a lower risk of contamination or environmental impact compared to IMO 1 vessels. This segment's rapid growth can be attributed to stricter regulations and environmental standards governing the transportation of hazardous chemicals have led to an increased demand for safer and more secure shipping methods, favoring IMO 2 tankers due to their enhanced safety features and capabilities. In addition, the expansion of chemical manufacturing industries, particularly in emerging economies, has resulted in higher production volumes and the need for efficient transportation solutions, driving the demand for IMO 2 vessels. Additionally, advancements in tanker design and technology have made IMO 2 vessels more versatile, allowing them to transport a wider range of chemical cargoes while ensuring compliance with regulatory requirements. As a result, the IMO 2 fleet type is experiencing significant growth within the Chemical Tankers Market.
The largest segment in the Chemical Tankers Market is the Stainless-Steel fleet material. Stainless steel tankers are preferred for transporting a wide range of chemical cargoes due to their superior corrosion resistance, durability, and ease of cleaning compared to coated tankers. In particular, stainless steel offers excellent resistance to corrosion from various chemicals, acids, and caustic substances, ensuring the integrity of the cargo and the safety of the vessel's operation. In addition, stainless steel tanks are highly durable and can withstand the rigors of frequent cargo handling and cleaning processes, reducing maintenance costs and downtime for vessel operators. Further, stainless steel tanks provide a smooth and inert surface, minimizing the risk of contamination or reaction between the cargo and the tanker walls, which is crucial for transporting sensitive chemical products. Additionally, stainless steel tankers often command higher freight rates due to their premium features and capabilities, further driving their prevalence in the Chemical Tankers Market. Over the forecast period, the Stainless-Steel fleet material segment holds the largest share in the market due to its unmatched performance and suitability for transporting a wide range of chemical cargoes.
The fastest-growing segment in the Chemical Tankers Market is the Deep-Sea Chemical Tankers category. In particular, globalization and the increasing demand for various chemical products worldwide have led to a surge in long-distance chemical transportation across oceans. Deep-sea chemical tankers, equipped with advanced technology and larger capacities, are best suited for efficiently transporting bulk chemical cargoes over extended distances. In addition, advancements in shipbuilding technology have resulted in the development of more fuel-efficient and environmentally friendly deep-sea chemical tankers, making them attractive options for shipping companies seeking to minimize operating costs and comply with stringent environmental regulations. Further, the expansion of chemical production facilities in remote regions has created the need for efficient and reliable transportation solutions to connect these production sites with global markets. Deep-sea chemical tankers, with their large capacities and capabilities for long-haul voyages, are well-positioned to meet this demand. Additionally, the growing focus on safety and security in chemical transportation further drives the demand for deep-sea tankers, as they often feature advanced safety systems and compliance with international maritime regulations. Over the forecast period, the Deep-Sea Chemical Tankers segment is experiencing rapid growth due to the increasing globalization of chemical trade, technological advancements, and the expanding chemical production landscape.
By Product
Organic Chemicals
Inorganic Chemicals
Vegetable Oils & Fats
Others
By Fleet Type
IMO 1
IMO 2
IMO 3
By Fleet Material
Stainless Steel
Coated
By 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)Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Bahri
Iino Kaiun Kaisha
MISC Berhad
MOL Chemical Tankers
Navig8
Nordic Tankers
Odfjell
Stolt-Nielsen
Team Tankers
Wilmar International
*- List Not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Chemical Tankers Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Chemical Tankers Market Size Outlook, $ Million, 2021 to 2032
3.2 Chemical Tankers Market Outlook by Type, $ Million, 2021 to 2032
3.3 Chemical Tankers Market Outlook by Product, $ Million, 2021 to 2032
3.4 Chemical Tankers Market Outlook by Application, $ Million, 2021 to 2032
3.5 Chemical Tankers Market Outlook by Key Countries, $ Million, 2021 to 2032
4 Market Dynamics
4.1 Key Driving Forces of Chemical Tankers Industry
4.2 Key Market Trends in Chemical Tankers Industry
4.3 Potential Opportunities in Chemical Tankers Industry
4.4 Key Challenges in Chemical Tankers Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Chemical Tankers Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Chemical Tankers Market Outlook by Segments
7.1 Chemical Tankers Market Outlook by Segments, $ Million, 2021- 2032
By Product
Organic Chemicals
Inorganic Chemicals
Vegetable Oils & Fats
Others
By Fleet Type
IMO 1
IMO 2
IMO 3
By Fleet Material
Stainless Steel
Coated
By 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)
8 North America Chemical Tankers Market Analysis and Outlook To 2032
8.1 Introduction to North America Chemical Tankers Markets in 2024
8.2 North America Chemical Tankers Market Size Outlook by Country, 2021-2032
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Chemical Tankers Market size Outlook by Segments, 2021-2032
By Product
Organic Chemicals
Inorganic Chemicals
Vegetable Oils & Fats
Others
By Fleet Type
IMO 1
IMO 2
IMO 3
By Fleet Material
Stainless Steel
Coated
By 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)
9 Europe Chemical Tankers Market Analysis and Outlook To 2032
9.1 Introduction to Europe Chemical Tankers Markets in 2024
9.2 Europe Chemical Tankers Market Size Outlook by Country, 2021-2032
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Chemical Tankers Market Size Outlook by Segments, 2021-2032
By Product
Organic Chemicals
Inorganic Chemicals
Vegetable Oils & Fats
Others
By Fleet Type
IMO 1
IMO 2
IMO 3
By Fleet Material
Stainless Steel
Coated
By 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)
10 Asia Pacific Chemical Tankers Market Analysis and Outlook To 2032
10.1 Introduction to Asia Pacific Chemical Tankers Markets in 2024
10.2 Asia Pacific Chemical Tankers Market Size Outlook by Country, 2021-2032
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Chemical Tankers Market size Outlook by Segments, 2021-2032
By Product
Organic Chemicals
Inorganic Chemicals
Vegetable Oils & Fats
Others
By Fleet Type
IMO 1
IMO 2
IMO 3
By Fleet Material
Stainless Steel
Coated
By 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)
11 South America Chemical Tankers Market Analysis and Outlook To 2032
11.1 Introduction to South America Chemical Tankers Markets in 2024
11.2 South America Chemical Tankers Market Size Outlook by Country, 2021-2032
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Chemical Tankers Market size Outlook by Segments, 2021-2032
By Product
Organic Chemicals
Inorganic Chemicals
Vegetable Oils & Fats
Others
By Fleet Type
IMO 1
IMO 2
IMO 3
By Fleet Material
Stainless Steel
Coated
By 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)
12 Middle East and Africa Chemical Tankers Market Analysis and Outlook To 2032
12.1 Introduction to Middle East and Africa Chemical Tankers Markets in 2024
12.2 Middle East and Africa Chemical Tankers Market Size Outlook by Country, 2021-2032
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Chemical Tankers Market size Outlook by Segments, 2021-2032
By Product
Organic Chemicals
Inorganic Chemicals
Vegetable Oils & Fats
Others
By Fleet Type
IMO 1
IMO 2
IMO 3
By Fleet Material
Stainless Steel
Coated
By 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)
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
Bahri
Iino Kaiun Kaisha
MISC Berhad
MOL Chemical Tankers
Navig8
Nordic Tankers
Odfjell
Stolt-Nielsen
Team Tankers
Wilmar International
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Product
Organic Chemicals
Inorganic Chemicals
Vegetable Oils & Fats
Others
By Fleet Type
IMO 1
IMO 2
IMO 3
By Fleet Material
Stainless Steel
Coated
By 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)
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Global Chemical Tankers Market Size is valued at $34.8 Billion in 2024 and is forecast to register a growth rate (CAGR) of 4.1% to reach $48 Billion by 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
Bahri, Iino Kaiun Kaisha, MISC Berhad, MOL Chemical Tankers, Navig8, Nordic Tankers, Odfjell, Stolt-Nielsen, Team Tankers, Wilmar International
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2032; Currency: Revenue (USD); Volume