Chemical Tanker Shipping Market Size, Share, Growth, and Industry Analysis, By Type [Inland Chemical Tankers (1,000-4,999 DWT), Coastal Chemical Tankers (5,000-9,999 DWT), and Deep-Sea Chemical Tankers (10,000-50,000 DWT)], By Application (Organic Chemicals, Vegetable Oils & Fats, Inorganic Chemicals, and Others), and Regional Insights and Forecast To 2033

• 

   Request a Free Sample To Get More Information on this Market

CHEMICAL TANKER SHIPPING MARKET OVERVIEW

The chemical tanker shipping market, valued at USD 2528.8 billion in 2024, is projected to reach USD 2579.38 billion in 2025 and further escalate to USD 3019.4 billion by 2033, driven by a strong CAGR of 2%.

Chemical tanker shipping is a key part of international bulk liquid chemical shipping, which serves many industries including industrial manufacturing, agriculture, pharmaceuticals, and food processing. The tankers are designed to transport a range of hazardous and non-hazardous chemicals safely and economically on inland, coastal, and deep-sea routes. Because of the rate of global industrialization and a surge in chemical demand, there is a requirement for efficient, regulated, and sure means of transportation that has triggered this market's importance. Besides that, global growth in foreign trade, growing specialty chemical demand, and progress in maritime security regulation will continue to propel this chemical tanker shipping market growth globally. Russia-Ukraine conflict has caused significant disruption in world trade and shipping, and the movement of chemical tankers is no exception.

COVID-19 IMPACT

"Chemical Tanker Shipping Market Had a Negative Effect Due To Instability in the Worldwide Supply Chain during the Russia-Ukraine War"

Conversely, Russia restrictions and energy and chemicals supply chain volatilities disrupted the delivery of critical inputs, mainly petrochemicals, thereby having a negative impact on volumes of trade. Most of the European countries that were built on Russian chemical exports were compelled to seek alternative markets and supply chains elsewhere, placing pressure on available tanker capacity. Additionally, increased fuel prices due to geopolitical volatility have increased shipowners' operating costs. On the positive side, the geopolitical shift has redirected trade streams to areas such as the Middle East and Asia, increasing long-haul chemical tanker activity and intensifying demand for tankers. Second, there has been greater focus on building resilient and diversified chemical supply chains, which is increasingly opening newer opportunities for shipping players in emerging markets. One of the latest trends in the chemical tanker shipping business is the adoption of green, energy-efficient tankers.

LATEST TREND

"Adoption of Eco-Friendly and Energy-Efficient Tankers To Drive Market Growth"

As more regulatory pressures come to reduce the carbon footprint of shipping, companies are placing orders for dual-fuel vessels, specifically vessels powered by LNG or biofuels, that emit much less in the way of contributing to harm to the environment. Scrubbers and very sophisticated ballast water treatment technology is also becoming prevalent in new fleets. This transition to sustainability not only aids compliance with IMO standards but also draws in environmentally friendly stakeholders, giving shipping companies a market edge in winning long-term contracts from major chemical producers. Type segmentation segments the shipping chemical tankers market into Inland Chemical Tankers (1,000-4,999 DWT), Coastal Chemical Tankers (5,000-9,999 DWT), and Deep-Sea Chemical Tankers (10,000-50,000 DWT).

CHEMICAL TANKER SHIPPING MARKET SEGMENTATION

By Type

Based on type, the global market is categorised into Inland Chemical Tankers (1,000-4,999 DWT), Coastal Chemical Tankers (5,000-9,999 DWT), and Deep-Sea Chemical Tankers (10,000-50,000 DWT).

• Inland Chemical Tankers (1,000-4,999 DWT): Inland chemical tankers cover short distances on canals, lakes, and rivers. The lower DWT of their vessels allows for operations in inland waterways, and they carry out mainly domestic chemical distribution.

• Coastal Chemical Tankers (5,000-9,999 DWT): Chemical tankers have operations in nearshore and inter-regional sea lanes. They are convenient in delivering chemicals between ports that cannot support the use of deep-sea vessels and find extensive use for archipelagic country distribution and along coasts.

• Deep-Sea Chemical Tankers (10,000-50,000 DWT): Worldwide leadership in unique chemical exports can be seen for deep-water tankers carrying chemical cargo, as they are particularly equipped to cater to long-oceanic hauls. Complying with the most up-to-date standards of safety with huge capacity, they are preferred to ship harmful and bulk liquid chemicals across oceans.

By Application

Based on application, the global market is classified into Organic Chemicals, Vegetable Oils & Fats, Inorganic Chemicals, and Others.

• Organic chemicals: Organic chemicals include petrochemicals, alcohols, and solvents that are raw materials for consumer and industrial goods. They require highly specialized tankers that must be temperature-controlled and contamination-resistant. Fertilizers, alkalis, and acids are among the inorganic chemicals that are transported in bulk and must be shipped in corrosion-resistant tanks.

• Vegetable Oils & Fats: Vegetable oils and fats business is driven by food processing, cosmetics, and the biofuel industries. Here, the tankers need to maintain hygienic standards and prevention of rancidity.

• Others: Specialty and pharmaceutical chemicals in the 'Others' segment are specialty and pharma chemicals typically exported in small volume with high precision and high-quality control and niche but high-margin businesses. Rising world trade in chemicals which continues to drive business growth is one of the drivers.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

"Expansion Of Global Chemical Trade Enhancing Market Growth"

The expansion of global chemical trade is enhancing Chemical Tanker Shipping Market Growth thus leading to a growing demand for on-time logistics solutions for chemicals that also provide safe carriage. The Asian and Middle Eastern countries are becoming major chemical exporting nations, driving far-off trade and fuelling demand for deep-sea tankers.

"Growth Of End-Use Industries To Boost Market Growth"

Increasing end-use industries such as pharma, agriculture, and auto manufacturing are the other strong drivers. These sectors are extremely reliant on the easy availability of raw materials as well as intermediate chemical products, which contributes to the reliance on tanker-based transport solutions.

Restraining Factor

"Stringent International Regulations Governing The Handling And Transport Of Hazardous Chemicals To Potentially Impede Market Growth"

But the market is beset by stringent worldwide regulation of hazardous chemical handling and transport. Compliance with various systems such as MARPOL, REACH, and GHS contributes to operating costs and complexities for tanker companies. Periodic inspections, compulsory retrofitting of safety equipment, and training of crews also cost smaller operators, restricting their scope for expansion of operations.

Opportunity

"Potential In Emerging Economies To Create Opportunity For The Product In The Market"

On the opportunity side, the new markets, Southeast Asia and Africa, promise much. They are experiencing increased foreign investment in industrial facilities and chemical manufacturing, which finds its reflection in increased demand for chemical tankers. In addition, the underdevelopment of shipping infrastructure in most countries presents first-mover opportunities for shipping companies that can offer low-cost and reliable chemical logistics.

Challenge

"Volatility in Crude Oil Prices Could Be a Potential Challenge for Consumers"

Perhaps the most important challenge to the market is volatility in crude oil prices, whose direct effect lands on bunker fuel price — an important component of the operating expense for chemical tankers. Unpredictable fuel prices may result in unpredictable freight prices and affect customer and shipper bargaining in contract terms. Volatility added unpredictability to profitability and deterred long-term investment in the renewal of the fleet and the fleet expansion, particularly by smaller shipping companies.

• 

   Request a Free Sample To Get Analysis on Major Geographic Market

CHEMICAL TANKER SHIPPING MARKET REGIONAL INSIGHTS

• North America

Leading the market geographically is the Gulf Coast region of Texas and Louisiana by virtue of its majority of petrochemical complexes and port complexes. Regional giants are investing in digital route optimization and green fleets in a bid to stay ahead.

• Europe

Europe has been underpinned by the presence of giant chemical-producing countries like Germany, the Netherlands, and Belgium that power strong intra-regional chemical freight demand. Strong environmental regulations have also tipped the scale in favour of using environmentally friendly tankers in European waters.

• Asia

Asia grows at the highest rate due to industrialization in China, India, South Korea, and Southeast Asia accelerating at the fastest rate. High domestic chemical exportation, increases in infrastructures, and financial assistance by the government to maritime logistics are pushing the increasing demand for chemical tankers.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market Through Innovation and Market Expansion"

The key industry companies engaged in shipping chemical tankers are Stolt-Nielsen Limited, Odfjell SE, MOL Chemical Tankers, Sinochem, and Navig8 Chemicals, among others. They are highlighting merger strategies, fleet accumulation, and clean innovations to survive in the business. For instance, Odfjell SE has invested in twin-fuel tankers and advanced digital ship management solutions to ensure maximum fuel efficiency.

List of Top Chemical Tanker Shipping Companies

• Stolt-Nielsen (U.K.)
• Odfjell (Norway)
• Sinochem (China)
• MOL Chemical Tankers (Singapore)
• Hansa Tankers (Norway)
• Iino Kaiun Kaisha (Japan)
• MTMM (Japan)
• Team Tankers (Bermuda)
• Ultratank (Chile)
• Bahri (Saudi Arabia)

KEY INDUSTRY DEVELOPMENT

March 2021: Sinochem is actively investing in fleet development and joint ventures to enter high-growing markets. The players are also busily embracing international environment and safety compliance standards such that they can access multinational chemical clients. Worth mentioning regarding salient industrial events is the milestone, whereby in 2021 Sinochem commissioned into operations a new stainless-steel chemical tanker specially constructed both for domestic as well as overseas voyages. The vessel arrived with advanced cargo-management systems, nitrogen blanketing, and even scrubber-equipped engines to emit lower emissions. This was Sinochem's announcement of solidarity with green and efficient chemical logistics that ranked it among the top companies in the global shipping industry. The acquisition further complemented China's overall green shipping program as well as wider Sinochem scope in shipping high-value specialty chemicals globally.

REPORT COVERAGE

The report coverage of the chemical tanker shipping industry encompasses extensive analysis of market forces such as drivers, constraints, opportunities, and challenges influencing development. The research touches on major segments in the market based on type and application and provides in-depth analysis of region-based performance across North America, Europe, and Asia. It identifies dominant players in the market and encapsulates their business strategies and ongoing innovation, and innovations like fleet innovation and green initiatives. Besides, the study examines geopolitical events like the effects of Russian-Ukrainian hostilities on trading flows, oil prices, and governments. Additionally, the report provides trend research, i.e., greener tanker transition and digitalization of shipping fleet, in a bid to capture the entire picture of the world chemical tanker shipping market's current and future landscape.