DUBLIN--(BUSINESS WIRE )--The "Global ISO Tank Container Market Report and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
According to the report, the global ISO tank container market is projected to grow at a CAGR of 7.2% between 2022 and 2027 owing to the rising demand for ISO tank container to transport harmful chemicals and petrochemicals.
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the key players in the ISO tank container market.
Some of the major key players explored in the report are as follows:
ISO tank container, also known as tank container, is defined as a storage container which is used to ship various industrial or commercial components such as food, aggressive and non-aggressive chemicals, and gases, among others. It is a cylindrical vessel which might differ in thickness according to the requirement. Usually, the capacity of an ISO tank container varies between 20,000 litres to 25,000+ litres. Moreover, a system of heating is installed inside an ISO tank container which allows the liquid or gas to flow easily. It is a key advantage offered by the product, thereby bolstering the ISO tank container market.
The increasing deployment of ISO tank containers in the food and beverage industry is propelling the market growth. These containers are ideal for bulk transportation, which is helping the food producing companies cope with the growing demand for products such as edible oil, juice, and alcoholic beverage, among others. On top of it, the cost of handling and shipping food products through ISO tank containers is extremely low. This advantage offered by the container is anticipated to accelerate the ISO tank container market growth.
Over the forecast period, the anticipated increase in the dominance of ISO tank containers over the on-road transport of chemicals, owing to the increasing safety concerns pertaining to hazardous and reactive chemicals is likely to add to the market growth. In addition, the carbon emission caused by ISO tank containers are much less than its counter parts. Hence, due to this factor, ISO tank containers are likely to receive a green light from the government of various nations.
The growing expansion of the e-commerce sector is further propelling the demand for packaged food and beverage products which is in turn boosting the dependence on ISO tank containers. The increasing demand for clean-labelled beverages and food products is likely to garner the market growth in the forecast period.
Furthermore, the rigidness and strong structure of ISO tank container is beneficial in the petrochemical industry which is further expanding the opportunities for ISO tank container market.
In terms of region, North America accounts for a significant share in the market owing to the strong foothold of major market players. Bolstered by the progressive product innovations by the ISO tank container manufacturing companies, the market is anticipated to gain a positive outlook.
Meanwhile, the Asia Pacific region is anticipated to witness decent demand for ISO tank containers in the forecast period. The market is being driven by the increasing import and export of beverage, edible oil, and industrial gases.
The market can be divided on the basis of transport modes, applications, and regions.
Market Segmentation by Transport Mode
For more information about this report visit https://www.researchandmarkets.com/r/7hvz6m
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900