[New Insights] ISO tank container Market is estimated to be US$ 377.7 million by 2032 with a CAGR of 5.2% during the forecast period-By PMI
Prophecy Market Insights latest research report on the ISO tank container Market provides a comprehensive analysis of the current market scenario, growth opportunities, challenges, and emerging trends. The report offers insights into the market’s size and share, key market players, distribution channels, and consumer preferences. It also examines the impact of the COVID-19 pandemic on the market and provides a detailed analysis of the competitive landscape, including strategic alliances, mergers, and acquisitions.
Covina, Sept. 06, 2023 (GLOBE NEWSWIRE) — ISO tank container is a specialized type of container designed for the transport and storage of bulk liquids, gases, and powders. ISO tank containers conform to international standards set by the International Organization for Standardization (ISO), making them compatible with various modes of transportation, including ships, railways, and trucks.
ISO tank container market’s growth is closely tied to global trade activities. As international trade volumes continue to rise, there is an increasing demand for efficient and cost-effective methods of transporting bulk liquids, gases, and powders, which ISO tank containers provide. The chemical and petrochemical industries are significant users of ISO tank containers for transporting various chemicals, including hazardous materials. The anticipated growth in these industries, driven by increasing demand for chemicals, will contribute to the expansion of the ISO tank container market.
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Key highlights –
- In July 2023, Zodiac Tank Container Terminals is a Samsara group company, one of the leading shipping agency and logistics organizations operating. Zodiac Tank Container Terminals state-of-the-art facility was developed as one-stop-shop for all ISO tank container cleaning, maintenance and testing, and road tanker cleaning matching with word-class quality standards. The facility has dedicated exclusive cleaning bays for ISO tank containers as well as for cleaning of road tankers and food grade ISO tanks. The facility is carefully planned and run by a competent workforce using a fully automatic ISO tank container cleaning system with advance German technology from Weidner. The cleaning facility is strategically located on Mumbai to Pune Highway about 55 km from Nhava Sheva port with an excellent connectivity through a toll-free road old Mumbai-Pune highway and also Mumbai-Pune Expressway.
Market size :
ISO tank container Market accounted for US$ 220.6 million in 2022 and is estimated to be US$ 377.7 million by 2032 and is anticipated to register a CAGR of 5.2%. ISO tank container Market is segmented into Type, Application and region.
The prominent player operating in the ISO Tank Container market includes,
- CIMC Container Holdings Co., Ltd.
- NT International
- Welfit Oddy Industries Pty Ltd.
- Singamas Container Holdings Limited company
- CXIC Group Containers Co. Ltd.
- Hexagon Composites ASA Luxfer Group Ltd.
- Quantum Technologies Group, Inc.
- Everest Kanto Cylinders Ltd.
- Praxair Technologies, Inc.
- Faber Industries S.p.A
PDF Report Link:
The ISO Tank Container Market can be segmented based on various factors to better understand its dynamics and cater to the diverse needs of the industry. Here are some common segmentation criteria for the ISO tank container market:
Material of Construction:
- Stainless Steel: ISO tank containers made from stainless steel for the transportation of sensitive or corrosive liquids.
- Carbon Steel: Containers constructed from carbon steel suitable for non-corrosive liquids.
- < 20,000 Liters: Smaller tank containers used for limited-capacity transportation needs.
- 20,000 – 30,000 Liters: Medium-sized tank containers catering to a wide range of industries.
- > 30,000 Liters: Large-capacity tank containers for bulk transportation.
- Chemical Industry: ISO tank containers used for transporting various chemicals, including industrial chemicals and hazardous materials.
- Food and Beverage Industry: Containers designed for the safe transportation of food-grade liquids.
- Oil and Gas Industry: Containers used for transporting crude oil, refined petroleum products, and natural gases.
- Pharmaceutical Industry: Specialized ISO containers with stringent cleanliness and temperature control for pharmaceutical products.
- Sea Transportation: Containers optimized for sea freight, with features for secure stacking and handling on ships.
- Rail Transportation: Containers suitable for rail transport, designed to meet rail regulations and requirements.
- Road Transportation: ISO tank containers intended for road transport, often with features for easy loading and unloading.
- Regional Markets: Segmentation by geographic regions or countries to analyze the demand for ISO tank containers in specific areas.
- Owned: ISO tank containers owned by shipping companies or logistics providers.
- Leased: Containers leased by companies on a short-term or long-term basis from leasing companies.
- Refrigerated ISO Containers: Designed for temperature-sensitive cargo.
- Insulated ISO Containers: Containers with enhanced insulation for cargo that requires temperature control but not refrigeration.
- Swap Body ISO Containers: Containers designed for intermodal transport, easily transferable between road and rail.
- UN/DOT Regulations: Containers compliant with the United Nations/DOT (Department of Transportation) regulations for hazardous materials.
New vs. Used Containers:
- Segmentation based on whether the containers are new or used, which can affect pricing and availability.
These segmentation criteria allow stakeholders in the ISO tank container market to better understand the specific needs of their target customers and develop tailored solutions for various industries and applications.
Unlocking Personalization: Tailor ISO Tank Container Industry to Your Unique Preferences
Analyst View –
The pharmaceutical and healthcare sectors require specialized ISO tank containers to transport sensitive and regulated products. The growth of these industries, especially in emerging markets, will drive demand for these containers. ISO tank containers are considered more environmentally friendly than traditional packaging methods like drums or barrels. As environmental regulations become stricter, companies may increasingly adopt ISO tank containers to minimize waste and reduce their carbon footprint.
The ISO tank container market faces a combination of challenges and opportunities driven by factors such as economic trends, regulatory changes, environmental concerns, and shifts in global trade patterns. Here are some of the key challenges and opportunities in the ISO tank container industry:
- Volatility in Global Trade: Fluctuations in global trade volumes and patterns can impact the demand for ISO tank containers. Trade disputes, protectionist policies, and economic recessions can disrupt the movement of goods.
- Regulatory Compliance: Adhering to international regulations governing the transportation of hazardous materials and chemicals can be complex and costly. Ensuring compliance with UN/DOT regulations and other safety standards is a persistent challenge.
- Environmental Concerns: The transportation industry is under increasing pressure to reduce its carbon footprint. ISO tank container operators may face challenges related to emissions control, fuel efficiency, and the adoption of eco-friendly materials.
- Security and Theft: Ensuring the security of cargo during transit is a critical concern. Theft, tampering, and unauthorized access to tank containers can result in significant losses and pose safety risks.
- Maintenance and Inspection: Maintaining and inspecting ISO tank containers to ensure their safety and longevity can be costly and time-consuming. Failure to meet maintenance requirements can lead to accidents or non-compliance issues.
- Cost of New Technology: Integrating advanced technology, such as telematics and tracking systems, into ISO tank containers can be expensive. However, it can also provide significant benefits in terms of cargo monitoring, security, and efficiency.
- Competition: The ISO tank container industry is competitive, with multiple players vying for market share. Price pressures and the need for innovation to stand out are ongoing challenges.
- Growth in Chemical Industry: The chemical industry, which relies heavily on ISO tank containers for transporting raw materials and finished products, is experiencing steady growth. Expanding chemical production and global supply chains present opportunities for the tank container market.
- Shift to Intermodal Transportation: ISO tank containers are versatile and can be easily transferred between different modes of transportation, including road, rail, and sea. The growth of intermodal transportation systems presents opportunities for tank container operators.
- Increase in Food and Beverage Exports: The global demand for food and beverage products, including liquids like juices, wines, and edible oils, is growing. ISO tank containers are essential for the safe transportation of these products.
- Rise of Renewable Energy: As renewable energy sources like biodiesel and ethanol gain prominence, ISO tank containers can play a role in transporting biofuels and related materials.
- Technology Integration: The adoption of digital technologies, IoT (Internet of Things), and data analytics can enhance the tracking, monitoring, and management of ISO tank containers, improving efficiency and safety.
- Environmental Sustainability: Investments in eco-friendly tank containers and the use of alternative materials can align with environmental goals and attract environmentally conscious customers.
- Customization and Innovation: Developing specialized ISO tank containers for niche markets, such as pharmaceuticals, high-purity chemicals, and food products, can create opportunities for differentiation and premium pricing.
- Geographic Expansion: Exploring opportunities in emerging markets with growing industrial sectors can be a strategic move for ISO tank container operators.
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