Chemical Tanker Shipping Market Report 2026

The chemical tanker shipping market size has grown strongly in recent years. It will grow from $34.37 billion in 2025 to $36.58 billion in 2026 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to expansion of global chemical trade volumes, increasing seaborne transportation of liquid chemicals, growth of petrochemical production hubs, rising demand for bulk liquid logistics, development of inland and coastal waterways.

The chemical tanker shipping market size is expected to see strong growth in the next few years. It will grow to $46.3 billion in 2030 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to increasing investments in eco-friendly chemical tankers, rising regulatory focus on maritime safety standards, expansion of long-range chemical shipping routes, growing demand for high-purity chemical transport, increasing replacement of aging tanker fleets. Major trends in the forecast period include increasing adoption of specialized coated chemical tankers, rising demand for imo-compliant fleet expansion, growing focus on cargo segregation and safety systems, expansion of stainless steel tanker utilization, enhanced emphasis on fleet modernization.

The rising demand for vegetable oils is anticipated to drive the expansion of the chemical tanker shipping market. Vegetable oils are derived from various plant sources, mainly from the seeds, nuts, or fruits of plants. Chemical tankers are employed to transport vegetable oils, enabling their movement from production sites to different distribution centers and end-users. For example, in May 2024, the United States Department of Agriculture, a US-based government agricultural agency, reported that global vegetable oil production in 2024/25 is projected to rise by 2% to approximately 228 million tons, supported by significant increases in soybean, palm, and rapeseed oil output. Consequently, the growing demand for vegetable oils is fueling the growth of the chemical tanker shipping market.

Prominent entities within the chemical tanker shipping market are directing their focus towards pioneering solutions, notably the adoption of LNG propulsion technology. This innovative approach involves utilizing liquefied natural gas (LNG) as a power source for ships and various marine vessels. A notable development in this realm occurred in April 2023 when Fukuoka Shipbuilding, a Japan-based vessel manufacturing company, introduced the 'LNG Dual-fuel Chemical Tanker.' This cutting-edge stainless-steel tanker integrates LNG propulsion technology, representing a significant leap in reducing environmental impact. By employing this advanced dual-fuel system, the vessel achieves a substantial reduction in carbon dioxide emissions, up to 25% compared to conventional marine fuels. This innovation underscores the industry's commitment to embracing sustainable and eco-friendly technologies within the chemical tanker shipping domain.

In March 2024, Mitsui O.S.K. Lines, Ltd. (MOL), a Japan-based shipping and maritime transportation company, acquired Fairfield Chemical Carriers Pte. Ltd. for approximately $400 million. Through this acquisition, MOL sought to strengthen and expand its chemical tanker operations by establishing one of the world’s largest fleets of multi-segregated stainless-steel chemical tankers and improving its service offerings to customers worldwide. Fairfield Chemical Carriers Pte. Ltd. is a Singapore-based specialized chemical tanker operator that delivers global transportation services with a fleet of stainless-steel cargo tanks capable of handling a wide range of liquid chemicals and related products.

Major companies operating in the chemical tanker shipping market are Sinochem Corporation, Stolt-Nielsen Ltd., Frontline Ltd., Diamond S Shipping Inc., Ardmore Shipping, International Seaways Inc., Petronav Caspian Sea Marine Services Pvt. Ltd., Uni-Tankers A/S, PT. Berlian Laju Tanker Tbk., BW Group, Odfjell SE, Seatrans Group, Team Tankers International Ltd., Tokyo Marine Asia Pte Ltd., Duzgit Group, MOL Chemical Tankers, Nordic Tankers, Hansa Tankers, Navig8 Chemical Tankers Inc., Iino Kaiun Kaisha Ltd., Stena Bulk, Maersk Tankers, MOL Nordic Tankers, JO Tankers, Eitzen Chemical, Ace Tankers Management B.V., Scorpio Tankers Inc., TORM.

North America was the largest region in the chemical tanker shipping market in 2025. The regions covered in the chemical tanker shipping market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the chemical tanker shipping market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The chemical tanker shipping market consists of sales of parcel chemical tankers, dedicated chemical tankers, and product cum chemical tankers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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