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The chemical tankers market size has grown strongly in recent years. It will grow from  $34.68 billion in 2023 to $37.03 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%.  The growth in the historic period can be attributed to increased production and consumption of chemicals, a surge in oil and gas exports, economic growth in emerging markets and expansion of seaborne trade. The chemical tankers market size is expected to see strong growth in the next few years. It will grow to  $47.63 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.  The growth in the forecast period can be attributed to a growing petrochemical industry, an increasing demand for vegetable oils and fats and rising urbanization. Major trends in the forecast period include adoption of artificial intelligence, use of IoT (Internet of Things)-enabled remote tank monitoring, automation in chemical tankers, real-time tracking solutions, rising investments and partnerships and collaborations.

The chemical industry’s growth is set to propel the chemical tankers market as companies in this sector require specialized vessels to transport their chemical compounds. This demand is expected to surge as the chemical industry maintains its net exporter position, with the US chemical industry projected to achieve $40.5 billion in net exports and $668 billion in chemical industry shipments by 2025, as reported by the American Chemistry Council in 2021. With major economies reopening and heightened import demand, the USA’s chemical exports are anticipated to witness substantial growth. Consequently, the chemical industry’s expansion becomes a key driver for the chemical tankers market, with market size values for 2023, 2024, and 2028 integral to this anticipated growth.

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What Are The Key Trends That Influence Chemical Tankers Market Share Analysis?

Technological advancements are shaping the chemical tanker market, with many companies investing in innovative solutions to enhance usability, convenience, and affordability. For example, in March 2021, SCF, a Russian subsidiary of Sovcomflot, introduced its first LNG-powered MR chemical tanker. Designed to transport oil products and gas condensate, this tanker features eco-friendly LNG power units that significantly reduce emissions. With a capacity of around 50,000 tons, and dimensions including a length of over 180 meters, a width of over 32 meters, and a draught of 13.4 meters, this ice-class vessel is capable of year-round navigation, even in icy Baltic Sea conditions.

Which Market Players Are Driving Growth In The Chemical Tankers Market?

Major companies operating in the market are Stolt-Nielsen Limited, Odfjell SE, MISC Berhad, Bahri, Navig8 Limited, Iino Kaiun Kaisha Ltd, MITSUI O.S.K. LINES, Hansa Tankers, PT Berlian Laju Tanker Tbk, Maersk Tankers, MOL Chemical Tankers, Tanglian Group, Jiangsu Pretank Process Co. Ltd, Zen Shipping & Ports India Pvt Ltd, Hafnia Ltd, China Merchants Jinling Shipyard Dingheng, Changzhou Treering Plastics Co ltd, Ace Tankers Management B.V, The Seatrans Group, Sovcomflot, Scot Tanker, Chemet SA, Rigel Shipping Canada Inc, Kenan Advantage Group, Clean Product Tankers Alliance, Ultratank, PanOcean Tanker, Sernacol, KROHNE Argentina, Bahri Chemicals, Gulf Energy Maritime, Petrochem Middle East, Ace Tankers, AquaChemie, Fairfield Chemical Carriers, CA Muller Fabrication, M/T Ternsund Chemical Tanker

How Is The Global Chemical Tankers Market Segmented?

The chemical tankers market covered in this report is segmented –

1) By Product Type: Organic Chemicals, Inorganic Chemicals, Vegetable Oils And Fats, Other Product Types
2) By Cargo Types: IMO 1, IMO 2, IMO 3
3) By 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)
4) By Fleet Material: Stainless Steel, Coated

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The Chemical Tankers Global Market Report 2024 provides an overview of the chemical tankersmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The chemical tankers market forecast analyzes chemical tankers market size, chemical tankers market share, leading competitor and their market positions.

The Table Of Content For The Chemical Tankers Market Include

1. Chemical Tankers Market Executive Summary
2. Chemical Tankers Market Segments
3. Chemical Tankers Market Size And Template Market Growth Rate
4.  Key Chemical Tankers Market Trends
5. Major Chemical Tankers Market Drivers
……
25. Key Mergers And Acquisitions In The Chemical Tankers Market
26. Top Chemical Tankers Companies
27. Chemical Tankers Market Opportunities And Strategies
28. Chemical Tankers Market, Conclusions And Recommendations
29. Appendix

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