Global ISO Tank Container Market Report and Forecast 2024-2032

Global ISO Tank Container Market Size

The global ISO tank container market size is projected to grow at a CAGR of 7.2% in the forecast period of 2024-2032, driven by the continuous expansion of the seaborne trade in these containers, making them safer and faster to transport.

Key Takeaways

• Organic chemicals production in India rose by 4.52% in August 2023, compared to the same period in 2022, indicating growth.

• Import TEUs landing in Western Canada plummeted by 68,000 TEUs in Q3 2023 compared to the previous year, attributed to decreased imports and container imbalances.

• India's chemical consumption is expected to increase by 20%, at a global level, in the next 20 years.

ISO tank containers, also referred to as intermodal tank containers, are used for the transportation of liquid or gases in bulk. The ISO tank container is designed and manufactured according to the guidelines outlined by the International Organisation of Standardisation (ISO). The standards ensure structural integrity and durability as well as survivability in extreme temperatures and conditions, thus, providing a beneficial mode of transport for commodities.

The ISO tank container market growth is related to the rising international trade, especially in the chemicals, gases, and food industries. This is likely to create a surge in demand for efficient, safe, and cost-effective transportation methods. ISO tank containers, offering a standardised solution for shipping liquids in bulk, are increasingly preferred over traditional drums and barrels. This transparency appeals to consumers looking for products with recognisable, whole-food ingredients.

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Key Trends and Developments

Growing sustainability focus; technological integration for efficiency and safety; expanding intermodal transportation; and increasing demand for specialised ISO tank containers are positively impacting the ISO tank container market growth

Global ISO Tank Container Market Trends

The push towards sustainability within the logistics and transportation sector has significantly propelled innovations in ISO tank container manufacturing. Companies are increasingly adopting eco-friendly materials and technologies to reduce the environmental impact of their operations. This includes the development of lighter, more efficient containers that require less energy to transport, as well as initiatives to increase the recyclability of tank components.

The integration of Internet of Things (IoT) devices, smart sensors, and advanced tracking systems into ISO tank containers is enhancing their operational efficiency, safety, and security. Real-time monitoring of container location, internal pressure, and temperature helps ensure the integrity of sensitive cargo, reducing the risk of accidents, and improving overall supply chain visibility.

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Market Segmentation

“Global ISO Tank Container Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

The rising demand for petrochemicals significantly propels the ISO tank container market expansion

Holding the highest share, the petrochemical sector pushes forward the market growth due to the growing demand for fossil fuels such as oil, gasoline, and diesel, among others. High resistance to corrosion and the strength to transport hazardous liquids prove these containers to transport such chemicals safely.

Furthermore, the use of petrochemicals in various industries diversifies and boosts the demand, especially from the developed countries. Meanwhile, the food and beverage and pharmaceutical sectors are expected to utilise ISO tank containers owing to the importance of suitable and controlled transportation methods for sensitive products.

Marine dominates the ISO tank container market share due to expanding maritime trade

The expansion of maritime trading has bolstered the container market globally. Trade agreements between NAFTA, ASEAN, etc. are anticipated to fuel the growth of containerisation. Due to their capacity and durable components, ISO tank containers have witnessed massive growth in transportation in the chemical and petrochemical sectors.

The Asia Pacific regions, with long coastlines, are expected to increase the manufacturing of more containers, consequently boosting the ISO tank container market growth. Developing countries in the region hold the largest share of import-export and trading of commodities has been essential for such rising economies.

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Competitive Landscape

Some of the major players are increasingly expanding to establish a presence in emerging markets

Other key players in the global ISO tank container market are Danteco Industries BV and others.

Players in the ISO tank container market are increasingly investing in technologies and geographical expansion to meet the rising demand. Artificial Intelligence, blockchain and IoT have been some of the most prevalent technologies integrated in ISO tank containers to improve operational efficiency, enhance safety, and enable real-time tracking and monitoring of shipments.

Meanwhile, companies are also expanding their operations in emerging economies, such as South America and Africa, due to the increase in chemical production and consumption.

Global ISO Tank Container Market Analysis by Region

The Asia Pacific is anticipated to hold a leading position in the market owing to China being a major producer of ISO tanks. China is also focused on expanding its port capacities and shipping capabilities, supported by government policies and investments aimed at bolstering the maritime and container manufacturing industries. Initiatives such as the One Belt One Road aim to enhance China's shipping infrastructure, further solidifying its role in the global market.

Meanwhile, North America is expected to maintain a substantial share of the ISO tank container market, driven by the construction of new warehouses and distribution centres. The strong presence of leading global manufacturers in North America further contributes to the region's market strength.

Key Highlights of the Report

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ISO Tank Container Market Regional Analysis