Global Chemical Tankers Market 2018-2022: Increasing Capacities of Chemical Manufacturers are Driving Demand
DUBLIN, March 28, 2018 /PRNewswire/ --
The "Chemical Tankers Market by Product Type (Organic Chemicals, Inorganic Chemicals, Vegetable Oils & Fats), Fleet Type (IMO 1, IMO 2, IMO 3), Fleet Material (Stainless Steel, Coated), Fleet Size, and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The chemical tankers market is projected to grow from USD 26.63 Billion in 2017 to USD 33.11 Billion by 2022, at a CAGR of 4.5% between 2017 and 2022.
The flourishing chemical industry and increasing capacities of chemical manufacturers are driving the demand for chemical tankers across the globe. Moreover, the increasing demand for vegetable oils & fats is also expected to fuel the growth of the chemical tankers market during the forecast period.
The Asia Pacific region is estimated to be the largest market for chemical tankers during the forecast period. The Asia Pacific chemical tankers market is also projected to grow at the highest CAGR, in terms of value and volume during the forecast period. China is projected to lead the Asia Pacific chemical tankers market during the forecast period. The China chemical tankers market is also projected to grow at the highest CAGR, in terms of value and volume during the forecast period.
Slow growth in the production of crude oil and formulation and implementation of regulations related to oil bunkering act as restraints to the growth of the chemical tankers market. Low international prices of crude oil and reduced capital investments for its exploration over the past few years have led to the slow production of crude oil. Moreover, low investments for exploring and producing crude oil between 2013 and 2015 in the US have impacted the production of shale oil in the country. The oil production has decreased in China as well, owing to the low oil price environment in the country.
The major players operating in the chemical tankers market are Bahri (Saudi Arabia), Stolt-Nielsen (UK), Odfjell (Norway), Navig8 (UK), MOL Chemical Tankers (Singapore), Nordic Tankers (Denmark), Wilmar International (Singapore), MISC Berhad (Malaysia), Team Tankers (Bermuda), and Iino Kaiun Kaisha (Japan).
These leading players have adopted the strategy of agreements to increase their shares in the chemical tankers market and cater to the increasing demand for tankers used for shipping chemicals and chemical products. For instance, Odfjell (Norway) signed an agreement with Sinochem Shipping (Singapore) in November 2017.
According to this agreement, Odfjell (Norway) is expected to take four new orders from Sinochem Shipping (Singapore) to manufacture 840,900 DWT chemical tankers. This agreement aims at enabling Odfjell (Norway) to serve the growing demand for chemical tankers, which are used to ship chemicals and chemical products.
The leading players operating in the market have also adopted the strategies of expansions, joint ventures, agreements, and acquisitions to increase their shares in the chemical tankers market between 2014 and 2017.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for the Chemical Tankers Market
4.2 APAC: Chemical Tankers Market, By Product Type and Country
4.3 Chemical Tankers Market, By Fleet Type
4.4 Chemical Tankers Market, By Fleet Size
4.5 Chemical Tankers Market, By Fleet Material
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth of the Chemical Industry
5.2.1.2 Increasing Demand for Oilseeds/Vegetable Oils & Fats
5.2.2 Restraints
5.2.2.1 Slow Growth in Crude Oil Production
5.2.2.2 Oil Bunkering Regulations
5.2.3 Opportunities
5.2.3.1 Increasing Production of Chemicals in APAC
5.2.3.2 Oversupply in the Chemical Tankers Industry
5.2.4 Challenges
5.2.4.1 Political Unrest in the Middle East & North Africa
5.3 Porter's Five Forces Analysis
5.4 Macroeconomic Indicators
5.4.1 GDP Growth Rate Forecast of Major Economies
5.4.2 Chemicals and Vegetable Oils Statistics
6 Chemical Tankers Market, By Product Type
6.1 Introduction
6.2 Organic Chemicals
6.3 Inorganic Chemicals
6.4 Vegetable Oils & Fats
6.5 Others
7 Chemical Tankers Market, By Fleet Type
7.1 Introduction
7.2 IMO Type 1
7.3 IMO Type 2
7.4 IMO Type 3
8 Chemical Tankers Market, By Fleet Size
8.1 Introduction
8.2 Inland
8.3 Coastal
8.4 Deep Sea
9 Chemical Tankers Market, By Fleet Material
9.1 Introduction
9.2 Stainless Steel
9.3 Coated
10 Chemical Tankers Market, By Region
11 Competitive Landscape
12 Company Profiles
- Aurora Tankers Management Pte. Ltd.
- Bahri
- Champion Tankers
- Chembulk
- Iino Kaiun Kaisha, Ltd.
- Laurine Maritime
- MISC Berhad
- Maersk Tankers
- Mol Chemical Tankers Pte. Ltd.
- Navig8
- Nordic Tankers A/S
- Odfjell
- Southern Chemical Corporation
- Stena Bulk
- Stolt-Nielsen
- Team Tankers International Ltd.
- Waterfront Shipping
- Wilmar International Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/48lp8z/global_chemical?w=5
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