- Multi-Compartment Container
- Lined Container
- Reefer Container
- Cryogenic & Gas Container
- Swap Body Container
- Dry Container
- Open Top Container
- Flat Rack Container
- Others
ISO Tank Containers Market was valued at USD 245.7 million in 2022 and is poised to grow at a CAGR of 5.3% over 2023-2029. An intermodal container, also called an ISO tank container, is a large standardized container designed and built for intermodals freight transport meaning can be utilized for different modes of transport ranging from ship to rail to truck without unloading and reloading. Intermodal containers’ primary purpose is to store and transport and is made up of rust-retardant Corten steel making it durable for long travel. These are most commonly used in the chemical and petrochemical industries, and the growing petrochemical industry is expected to propel the growth of the ISO tank containers market in the forecast years. Recently, Gas Exports throughout the world is driving the ISO container market. For instance, according to statistics, Qatar exports about 114.1 billion cubic meters of liquefied natural gas (LNG) throughout the world. The recent ongoing cutthroat competition between countries to politically dominate the Eastern and Western countries has led to register lucrative growth opportunities due to the growing demand for better, safer, and more efficient containers during water and air transport for long hauls. The increased demand for packaged food and beverage products is currently in trend booming the e-commerce industry, which is also increasing reliance on ISO tank containers. But after the COVID-19 pandemic, the manufacturer experienced a disruption in the market, also the infrastructure development, equipment, certification, and inspection associated with ISO tank containers require a high initial investment hindering the market growth. However, the market is seeing an increased demand across healthcare, e-commerce, chemicals, petrochemicals, and IT sector creating an urgency for demand in the market is expected to increase in the forecast years.
ISO Tank Container Market Key Developments:
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The market is expected to rise as the demand for petrochemicals is experiencing growth across the globe. Petrochemicals are chemicals that have extensive commercial applications. The demand for petrochemicals is increasing as they are used for transporting hazardous petrochemicals as they are made up of protective layers that provide protection from corrosion. According to statistics, the petrochemical feedstock accounts for 12% of global oil demand and the share is expected to increase over the forecast years. The ISO Tank containers leave almost less than 50 % of less carbon footprint and are hence used extensively by the petrochemical industries to meet international safety standards. Due to the rising demand for these containers across petrochemical industries, the ISO tank container market is anticipated to expand significantly in the forecast years.
The ISO tank container market was valued at USD 245.7 million in 2022 and is expected to grow at 5.3 % CAGR over the forecast period 2023 – 2029.
The increased demand for petrochemicals in various industries, and the boosted import and export of petrochemicals by the developed countries are driving the ISO tank containers market.
The ISO tank container market has been segmented into North America, Europe, Asia Pacific, Latin America the Middle East, and Africa.
Road, rail, and marine are the modes of transport of ISO tank containers.
Intermodal Tank Transport, VTG Tanktainer GmbH, Bertschi AG, Bulkhaul Limited, Royal Den Hartogh Logistics, HOYER GmbH, Interflow TCS Ltd, New Port Tank, Sinochain Logistics Co., Ltd., Meeberg, Nantong Tank Container CO. Ltd., China International Marine Containers Co. Ltd., Singamas Container, CXIC Group Containers Company Limited, Bewellcn Shanghai, Danteco Industries BV, Corban Energy Group are a few companies operating in ISO tank containers market.