Growth Of The Petrochemical Industry Leads To ISO Tank Container Market Growth At 10%

ISO Tank Container Market Report 2021 - COVID-19 Growth And Change

ISO Tank Container Global Market Report 2021 – COVID-19 Growth And Change

The Business Research Company’s ISO Tank Container Global Market Report 2021 – COVID-19 Growth And Change

LONDON, GREATER LONDON, UK, November 11, 2021 /EINPresswire.com/ — The growing petrochemical industry is expected to propel the growth of the ISO tank containers market in the forecast period. The ISO tank containers are used for transporting hazardous petrochemicals as they are made up of stainless steel and are surrounded by various types of protective layers that provide resistance to the corrosive effects of the petrochemicals. For instance, according to the TBRC report, the global petrochemicals market is expected to grow from $365.01 billion in 2020 to $429.11 billion in 2021 at a compound annual growth rate (CAGR) of 17.6%. Additionally, according to the International Energy Agency, petrochemicals are expected to account for about 50% of the growth in global oil demand between 2030 and 2050, contributing nearly 7 million barrels of oil. The ISO tank containers leave almost less than 50% of the carbon footprint and hence they are majorly used to ship chemicals by petrochemical industries. Therefore, the growth of the petrochemical industry drives the growth of the ISO tank containers market.

Europe was the largest region in the ISO tank container market in 2020. North America was the second-largest region in the ISO tank container market. The regions covered in the ISO tank container market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The global ISO tank container market size is expected to grow from $0.91 billion in 2020 to $0.99 billion in 2021 at a compound annual growth rate (CAGR) of 8.9%. The growth of the ISO tank container market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The ISO tank container market is expected to reach $1.46 billion in 2025 at a CAGR of 10%.

Read More On The Global ISO Tank Container Market Report:
https://www.thebusinessresearchcompany.com/report/iso-tank-container-global-market-report

Major players covered in the global ISO tank container industry are China International Marine Containers Co. Ltd, Nantong Tank Container CO. Ltd., CXIC Group Containers Company Limited, Singamas Container, Welfit Oddy, Danteco Industries BV, Bewellcn Shanghai, Chart Industries Inc., Corban Energy Group, Cryeng Group, Furuise, Intermodal Tank Transport., M1 Engineering, Quantum Technologies Group Inc., and Rootselaar Group.

TBRC’s global ISO tank container market report is segmented by container type into dry container, thermal and refrigerated container, tank container, open top container, insulated container, flat rack container, others, by transport mode into road, rail, marine, by application into chemicals, petrochemicals, food and beverage, pharmaceuticals, industrial gas, others.

ISO Tank Container Global Market Report 2021 – By Container Type (Dry Container, Thermal and Refrigerated Container, Tank Container, Open Top Container, Insulated Container, Flat Rack Container), By Transport Mode (Road, Rail, Marine), By Application (Chemicals, Petrochemicals, Food And Beverage, Pharmaceuticals, Industrial Gas), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides ISO tank container market overview, forecast ISO tank container market size and growth for the whole market, ISO tank container market segments, and geographies, ISO tank container market trends, ISO tank container market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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