Chemical Tanker Shipping Market expected to witness the fastest growth of 4.6% from 2014 to 2020: Radiant Insights

Global chemical tanker shipping market is expected to reach USD 2.23 trillion by 2020. 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.

To Get Full Report Click Here @ http://www.radiantinsights.com/research/chemical-tanker-shipping-market-analysis-by-product-organic-inorganic-vegetable-animal-oils-by-cargo-size-inland-coastal-deep-sea-by-cargo-type-imo-i-imo-ii-imo-iii-and-segment-forecasts-to-2020

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.

Read Sample report of this Category: http://www.radiantinsights.com/catalog/chemicals

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.

Table of Contents

Chapter 1. Executive Summary

1.1. Chemical Tanker Shipping- Industry Summary and Critical Success Factors (CSFs)

Chapter 2. Chemical Tanker Shipping Industry Outlook

2.1. Market Segmentation

2.2. Market Size and Growth Prospects

2.3. Chemical Tanker Shipping Value Chain Analysis

2.4. Chemical Tanker Shipping Market Dynamics

2.4.1. Market driver analysis

2.4.1.1. Development of shale gas boosting ethylene production in North America

2.4.1.2. Refinery expansion in Middle East

2.4.1.3. GDP growth in emerging markets

2.4.2. Market restraint analysis

2.4.2.1. Unstable political conditions

2.4.2.2. Environmental restrictions

2.5. Key Opportunities Prioritized

2.6. Industry Analysis – Porter’s

2.7. Chemical Tanker Shipping Market PESTEL Analysis, 2013

About Radiant Insights

Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.

For More Information, Visit Radiant Insights

Contact:
Michelle Thoras
Corporate Sales Specialist, USA
Radiant Insights, Inc
Phone: 1-415-349-0054
Toll Free: 1-888-202-9519
Email: sales@radiantinsights.com   
Blog URL: http://www.radiantinsightsinc.blogspot.com