ASEAN ISO Tank Container Market Report and Forecast 2024-2032

ASEAN ISO Tank Container Market Outlook

The ASEAN ISO tank container market attained a value of about USD 50.63 million in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 8.10%.

Growing Demand from Marine Transport is Bolstering the Market Growth of ISO Tank Containers in ASEAN

The ASEAN market for ISO tank containers is being driven by the rising demand from the marine sector. Major ASEAN countries, such as Vietnam, Indonesia, Malaysia, and Singapore, have vast coastlines owing to which the reliance on sea transport is boosting the market growth of tank containers. These containers carry high corrosion resistance properties and are durable, owing to which they are demanded for the transportation of hazardous liquids like oil, gasoline, and diesel, among others.

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Furthermore, the issued standards of manufacturing these containers ensure structural integrity and durability, along with survivability in extreme conditions and temperatures, thereby augmenting their applications and providing impetus to the market. Further, the expansion in seaborne domestic and international trade with the introduction of large maritime ships is expected to favour the market growth in the coming years.

ISO Tank Container: Market Segmentation

ISO tank containers, also known as intermodal tank containers, are containers that are designed and manufactured according to the guidelines defined by the International Organization of Standardization (ISO) for transportation of liquid or gases in large quantities via road, rail, or marine transport.

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Based on transport mode, the market can be segmented into:

• Road
• Rail
• Marine

The market, based on application, can be divided into:

• Chemicals
• Petrochemicals
• Food and Beverages
• Pharmaceuticals
• Industrial Gas
• Others

The EMR report looks into the regional markets of ISO tank container of ASEAN countries like Vietnam, Thailand, Indonesia, Singapore, and Malaysia, among others.

The Introduction of Ecological Raw Materials to Boost the Market Growth of ISO Tank Containers

The rise in the ASEAN market for ISO tank containers can be ascribed to the flourishing logistics industry in major ASEAN countries. The growing preference for ISO specified tank containers is due to the reduced shipping and handling costs offered by these containers as they allow easy packaging and transportation of liquids. Apart from this, increasing consumer demand for environmentally friendly material, in conjunction with the implementation of stringent rules to reduce plastic waste are some of the factors impelling market leaders to produce containers with sustainable materials that offer excellent durability and physical properties. This is leading to the growth of the market. Furthermore, the integration of advanced wireless technologies such as RFID sensors powered through IoT and Bluetooth technologies to supplement real-time tracking is also promoting the market growth of ISO tank containers in ASEAN region.

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Key Industry Players in the ASEAN ISO Tank Container Market

The report presents a detailed analysis of the following key players in the ASEAN ISO tank container market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• NRS Corporation
• BLPL Singapore Pte. Ltd.
• CS EURASIA LEASING (SEA) Pte Ltd
• Vietnam Pacific Lines (M) Sdn Bhd
• Siam Tank Terminals Co., Ltd.
• Tankformator (S) Pte Ltd.
• Ltd. ISOTANK VIETNAM
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report