Global Chemical Tanker Shipping Market is expected
to reach USD 2.23 trillion by 2020,
according to a new study by Grand View Research, Inc. Growth of global GDP on
account of rapid industrialization in Asia Pacific and Latin America is
expected to drive global chemical tanker shipping market. Shale gas boom
particularly in the U.S., Canada and China is also expected to have a positive
influence on the market growth. Rapid development of shale gas is expected to
raise production level of organic chemicals which in turn is expected to fuel
global chemical tanker shipping market. Large number of upcoming refinery and
petrochemical integration projects particularly in the Middle East is expected
to drive the future market.
Organic chemicals
were the largest product segment shipped and accounted for 49.6% of total
market volume in 2013. Increasing shale gas production in North America and
China is expected to drive global organic chemical shipping market. Organic
chemicals are also expected to witness the fastest growth of 4.6% from 2014 to
2020.
Access Full Research Report on Global Chemical Tanker
Shipping Market:
http://www.grandviewresearch.com/industry-analysis/chemical-tanker-shipping-market
http://www.grandviewresearch.com/industry-analysis/chemical-tanker-shipping-market
Further key findings from the study suggest:
- Global chemical tanker shipments were
200.10 million tons in 2013 and are expected to reach 268.42 million tons
by 2020, growing at a CAGR of 4.3% from 2014 to 2020.
- Deep sea tankers accounted for 52% of
total chemicals shipped in 2013 in terms of tanker size. It is also
expected to witness the highest growth rate of 4.4% from 2014 to 2020.
Relatively lower fleet costs coupled with capacity to carry large amount
of chemicals is expected to fuel its market over the forecast
period.
- IMO II emerged as the largest type of
cargo used for chemical shipments and accounted for 50.4% of total market
volume in 2013. Growing vegetable and animal oil/fats production
particularly in Asia Pacific is expected to remain a key driving factor
for this segment. IMO III is expected to witness the highest growth rate
of 4.5% from 2014 to 2020.
- Asia Pacific was the largest regional
market and accounted for 38.1% of total market volume in 2013. Expansion
of refinery & petrochemical capacity in China and India coupled with
increasing production of vegetable oils in South East Asia is expected to
drive the regional market over the next six years.
- North America is expected to witness the
highest growth rate of 4.7% from 2014 to 2020. Shale gas boom in the U.S.
and Canada is expected to develop the regional market over the forecast
period.
- Global chemical tanker shipping market
is highly fragmented with a mix of both multinational corporations and
regional companies. Some key companies operating in the global chemical
tanker shipping market include Odfjell, Stolt Parcel Tankers, Navig8
Chemicals, United Product Tankers, Iino Kaiun Kaisha, Tokyo Marine, Nordic
Tankers, National Chemical Carriers, Stena Bulk and Eitzen Chemical.
View more reports of this category by Grand View Research
at: http://www.grandviewresearch.com/industry/organic-chemicals-and-compounds
For the purpose of this study, Grand View Research has
segmented the Global Chemical Tanker Shipping Market on the basis of product,
cargo size, cargo type and region:
Global Chemical Tanker Shipping Product Outlook (Volume,
Million Tons; Revenue, USD Billion, 2012 - 2020)
- Organic
- Inorganic
- Vegetable/Animal Oils & Fats
- Others
Global Chemical Tanker Shipping Cargo Size Outlook
(Volume, Million Tons; Revenue, USD Billion, 2012 - 2020)
- Inland
- Coastal
- Deep Sea
Global Chemical Tanker Shipping Cargo Type Outlook
(Volume, Million Tons; Revenue, USD Billion, 2012 - 2020)
- IMO I
- IMO II
- IMO III
Global Chemical Tanker Shipping Regional Outlook (Volume,
Million Tons; Revenue, USD Billion, 2012 - 2020)
- North America
- Europe
- Asia Pacific
- Middle East
- RoW
View
Press Release Of Global Chemical Tanker Shipping Market By Grand View Research: http://www.grandviewresearch.com/press-release/global-chemical-tanker-shipping-market
About
Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more Information visit us: www.grandviewresearch.com