Stainless Steel Chemical Tanker Sales to Be 1.2X Higher Than Epoxy Coated Chemical Tanker Finds Fact.MR
Oct 23, 2019
The size of the global chemical tanker market is expected to reach nearly USD 5 billion in 2019.
Rockville, United States - October 23, 2019 /MarketersMedia/ —
Global sales of the chemical tanker in 2018 surpassed 130 units and is anticipated to expand at a moderate pace over the midterm forecast period, according to a recently published study by Fact.MR. APAC is estimated to be the leading region accounting for more than 35 percent share (Volume) in the global chemical tanker market, owing to increased seaborne trade and demand from end-use sectors. APAC is closely followed by Europe. In terms of value and quantity during the forecast period, the Asia Pacific chemical tanker market is also expected to grow at a significant CAGR. Within Asia Pacific, China is expected to lead the market for chemical tankers in the Asia Pacific. The worldwide market for chemical tankers accumulates maximum earnings made by shipping chemicals and their related products. The expanding chemical industry and chemical producers ' increasing capacity drive the demand for chemical tankers around the globe. Growing fleet size shows that there is potential for gradual growth in the coming years.
A measurable overcapacity of the chemical tanker has also been reported in the industry, as an equated effect of decelerated chemical trade between key markets, translating to limited demand for chemical tankers. Chemical tanker fleet operators over the past three quarters also reported squeezed net revenues, where companies experienced a tough time to ensure a healthy bottom line.
Request Sample Report- https://www.factmr.com/connectus/sample?flag=S&rep_id=4262
Slow growth in crude oil production and the formulation and execution of petroleum bunkering regulations act as impediments in the development of the market for chemical tankers.
With The Growing Chemical and Petrochemicals Sectors, Chemical Tankers Appear to Be an Attractive Investment
Growing chemical trade is expected to increase the market demand for chemical tankers as a result of the growth in manufacturing operations around the globe. The disparity in regional manufacturing and demand trends has created the need for global trade in chemicals and derivatives. Thus the need for transporting chemical materials through chemical tanker becomes essential. The growth of the chemical industry and the growing use of water transport to transport chemicals from one location to another across the globe are key drivers for the development of the market for the chemical tanker. Organic chemicals such as acetic acid, propene, alcohols, benzene, benzyl acetate, methanol, and phenol are some of the essential chemicals shipped through chemical tankers all over the globe.
Mergers and Acquisitions Are Major Contributors in the Growth of Chemical Tanker Market
The tide has changed over the past few years and mergers and acquisitions have been favored as key strategies by stakeholders as they promote sustenance and rapid growth in the global chemical tanker market. A combination of several trends and regulatory changes coupled with the employment of larger vessels, increasing competition and the financial crisis have forced the players in the market to resort to collaboration, mergers and acquisitions.
• In February 2019, Team Chemical tankers announced the acquisition of Laurin Maritime and Anglo-Atlantis Chemical tanker for $206 million, a deal which added 34 coated IMO II/III MR Chemical tankers to its existing fleet of 33 vessels.
• At the end of 2018, Eastern Pacific reportedly bought thirteen 19,000 dwt stainless steel vessels from the BW Group. These vessels will be operated by Ace Quantum, which will manage the largest fleet of stainless steel ships in this size segment in the future with a total of 33 vessels on the water.
• Meanwhile, 2019 has already seen its first consolidation deal, with Triton selling its 100% owned Nordic Chemical tanker to MOL Chemical tanker. The new combined operation will be renamed MOL Nordic Chemical Tanker A/S, and will have a fleet of 75 vessels. More mergers, joint ventures, and buyouts are expected.
The global market for chemical tanker in the shipping industry is consolidated with regional competitors. Key players include Odfjell, Stolt-Nielsen Ltd, IINO KAIUN KAISHA Ltd and Nordic Tanks.
Request Research Methodology- https://www.factmr.com/connectus/sample?flag=RM&rep_id=4262
The Fact.MR report offers a forecast of the global chemical tanker market for the period 2019 to 2027. According to the report, the chemical tanker market is projected to record a growth rate of over 1.7% through the forecast period.
Find more research reports on Industrial Goods Industry, by Fact.MR:
• Gear Measuring Machines Market – Market size of gear measuring machines for wind power generation will reach ~ US$ 71 Mn by 2029.
• Dredging Market – Among all regions, owing to the growing seaborne trade, the East Asia region is found to be in a prominent position with overall market share of ~30% over the forecast period 2019-2029.
About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
Contact Info:
Name: James Martin
Email: Send Email
Organization: Fact.MR
Website: https://www.factmr.com/
Source: MarketersMedia
Release ID: 88930246
More News
Strong Exports Stabilize China’s Economic Growth in Official Statistics
A prolonged housing crash, sluggish consumer spending and plunging investment have left China dependent on exports to keep the economy growing.
How the Fossil Fuel Industry ‘Captured’ Australia and Maintains Its Political Dominance
By framing coal and gas as essential to jobs, prosperity and national identity, the industry continues to resist the transition to renewable energy.
Hindutva Goons Unleash Violence on Anti-Modi Protesters
Activists of the Hindu Raksha Dal, an outfit that furthers the Sangh Parivar’s agenda, were caught on camera beating students and youth participating in the Delhi protests.
Amid Economic Challenges, China Turns to Vulnerable Workforce to Fix Its Social Security Problems
China is looking to “optimize and enhance” its social security program. People fear that will translate to pressure on gig economy workers and rural migrant workers.
A Warm Welcome for US Secretary of State in Central Asia
Not only can Rubio avoid the most pressing international crises by jetting off to Central Asia, but he – and the Trump administration more broadly – were guaranteed to receive a warm welcome in the region.
What the New China-North Korea Bridge Really Means
12 years after construction finished, the New Yalu River Bridge is finally open. Will North Korea's economy open too?
Behind the Veil of Religious Harmony in Cambodia
Aggregate rankings mistake the absence of overt conflict and the fear of speaking up for genuine tolerance.
China’s milestone in polar region satellite broadband narrows gap with Elon Musk’s Starlink
China’s recent milestone in extending its home-grown satellite internet coverage to polar regions has given the country “fully self-controlled polar communications”, ending its long-time reliance on foreign technology to achieve the same capability, according to state media and industry experts. The breakthrough came during trials conducted as part of China’s 16th Arctic expedition – launched in early July and expected to conclude this month – when scientists aboard vessels in the Arctic...
South Korea, US Pull Apart as the Alliance Strains
Restricted intelligence sharing, an investment spat, and remarks by a U.S. commander point to a widening gap between the allies.
Ecological Imbalance Is Driving Bear Encounters in Mongolia
As of early October, the Mongolian authorities have received 754 calls reporting bear sightings in various provinces and towns.
What the Greens Misunderstand About the Ukraine Conflict
As a policy, the Greens decision to not support military assistance to Ukraine is a deeply flawed one. As a political position it is self-defeating, too.
Calls grow for India to lure tech talent home as US tightens job curbs
After completing a master’s degree in data science at Pace University in New York in May last year, Tarun returned to India in October, saying frequent changes in US visa rules and employer sponsorship requirements had made it difficult for him to find a job in the world’s largest economy. Tarun, who is from the southern Indian city of Tirupati, felt returning home was a more prudent move than pursuing a job in the US indefinitely. “I got a job within one month here [Bengaluru] with an American...
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.