2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

How Are Key Drivers Contributing to the Growth and Expansion of the Chemical Tankers Market?

The expansion of the chemical industry is likely to spur the chemical tankers market’s growth. Chemical businesses will necessitate the use of chemical tankers to move and relocate their chemical compounds, contributing to the demand for such tankers. For example, a forecast by BASF SE, a German chemical firm, predicts that global chemical production will grow by 2.7% in 2024, faster than the 1.7% growth seen in 2023. As such, the burgeoning chemical industry is a driving force behind the growth of the chemical tanker market.

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#What Are the Key Projections for the CAGR of the Chemical Tankers Market From 2025 to 2034?

In recent times, the market size of chemical tankers has seen considerable growth. Projections indicate an increase from $36.51 billion in 2024 to $38.8 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%. The impressive growth during the historic period is due to factors such as elevated production and consumption of chemicals, a rise in oil and gas exports, and burgeoning economies in emerging markets, as well as the expansion of maritime commerce.

The market size for chemical tankers is projected to experience substantial growth in the coming years, reaching $51.04 billion in 2029, with a compound annual growth rate (CAGR) of 7.1%. This predicted growth during the forecast period can be credited to the expansion of the petrochemical industry, an intensified demand for vegetable oils and fats, and escalating urbanization. The forecast period is expected to see emerging trends such as the employment of artificial intelligence, deployment of IoT (Internet of Things) enabled remote tank monitoring technology, automation advancements in chemical tankers, real-time tracking solutions, along with increased investments, and industry partnerships and collaborations.

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What New Market Trends Are Reshaping theChemical Tankers Market and Its Opportunities?

Leading corporations in the chemical tankers market are prioritizing technological improvements like LNG propulsion technology to offer their users simplicity, access, comfort, and cost-effectiveness. LNG propulsion technology markedly diminishes emissions and upgrades fuel efficiency, thereby encouraging eco-friendly maritime operations. For example, in April 2024, Fukuoka Shipbuilding, a Japanese ship constructor, introduced the third stainless steel chemical tankers powered by LNG for Fairfield Chemical Carriers, an American engineering firm. These vessels utilize LNG propulsion technology, which has the capability to reduce carbon dioxide emissions by as much as 25% compared to conventional marine fuels.

Who Are the Leading Market Players Fueling Growth in the Chemical Tankers Market Trend?

Major companies operating in the chemical tankers market include 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, 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, Gulf Energy Maritime, Petrochem Middle East, Ace Tankers, AquaChemie, Fairfield Chemical Carriers, CA Muller Fabrication, M/T Ternsund Chemical Tanker

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How is the Global Chemical Tankers Market Segemented?

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

Subsegments:

1) By Organic Chemicals: Aromatics, Alcohols, Aldehydes And Ketones

2) By Inorganic Chemicals: Acids, Alkalis, Salts

3) By Vegetable Oils And Fats: Edible Oils, Non-Edible Oils

4) By Other Product Types: Specialty Chemicals, Pharmaceutical Raw Materials, Fertilizers

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Which Geographics are Influencing the Growth of the Chemical Tankers Market?

Asia-Pacific was the largest region in the chemical tanker market in 2024. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the chemical tankers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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