The global Chemical Tanker market is valued USD 27.25 Billion in 2017 and is projected is to exhibit 4.3% CAGR during the forecast period. The market is projected to be around USD 38.16 Billion by 2026. Chemical Tankers are used for shipping chemicals and related products via a range of fleet types across the globe.

Chemical Tanker Market Dynamics

The global Chemical Tanker market is driven by a number of factors that include the flourishing chemical industry and the rising capacities of chemical manufacturer’s. In addition, the significant demand for vegetable fats & oils is further analyzed to bolster the global chemical tankers market during the forecast period. However, slow growth in the production of crude oil and delays in the implementation and formation of regulations related to oil bunkering hinder the growth of this market.

Chemical Tanker Market Insight

Asia Pacific dominates the global chemical tankers market both in terms of value and volume. China is the largest market share holder for the Asia Pacific chemical tankers market in the region owing to huge demand for chemicals and related products. The global demand for chemical tankers is majorly driven by the rising awareness among masses of health benefits of vegetable oils and fats consumption on a human body.

Chemical Tanker Market Segmentation

The global Chemical Tanker market is segmented into product type, fleet type, fleet material, and region. On the basis of the product type the market is further bifurcated into organic chemicals, inorganic chemicals, vegetable oils & fats, and others (that includes lube oils, additives, molasses, etc.). By fleet type, the market is classified into IMO 1, IMO 2, and IMO 3. On the basis of fleet material, the global Chemical Tanker market is segmented into stainless steel and coated. Based on the geography the market is further segregated into North America, Latin America, Europe and Asia Pacific.

Chemical Tanker Market Competitive Landscape

The major players associated with the global Chemical Tanker market are Bahri, Stolt-Nielsen, Odfjell, Navig8, MOL Chemical Tankers, Nordic Tankers, Wilmar International, MISC Berhad, Team Tankers, and Iino Kaiun Kaisha among others.