ASEAN ISO Tank Container Market Report and Forecast 2024-2032

ASEAN ISO Tank Container Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the ASEAN ISO tank container market is projected to grow at a CAGR of 8.10% between 2024 and 2032 reaching a value of around USD 102.81 million by 2032. Aided by the burgeoning demand for efficient and secure transportation of liquids and gases, the market is expected to grow significantly by 2032.

ISO tank containers are large stainless-steel tanks encased within a protective frame, designed to meet international standards for the transportation of hazardous and non-hazardous liquids and gases. These containers are widely used for their versatility, safety, and efficiency in transporting a variety of products, including chemicals, food-grade liquids, gases, and pharmaceuticals.

The ASEAN region, with its dynamic economies and growing industrial sectors, has seen a surge in demand for ISO tank containers. The increasing industrial activities, especially in the chemicals and petrochemicals sectors, have significantly driven the ASEAN ISO tank container market growth. The stringent regulations regarding the safe and secure transportation of hazardous materials further underscore the importance of ISO tank containers in the region.

Moreover, the rising trend of globalisation and the expansion of trade activities within and beyond the ASEAN region contribute immensely to the market growth. The inherent advantages of ISO tank containers, such as their cost-effectiveness, sustainability, and lower risk of contamination, make them a preferred choice for international trade.

The food and beverage industry also plays a pivotal role in propelling the ASEAN ISO tank container market demand. With the growing need for safe and hygienic transportation of liquid food products, ISO tank containers have emerged as an optimal solution, offering temperature-controlled environments and minimising the risk of contamination.

Furthermore, the pharmaceutical industry's reliance on ISO tank containers for the transportation of sensitive and high-value liquids has bolstered the market expansion. The ability to maintain sterile conditions and control temperatures is crucial in the pharmaceutical logistics chain, thus enhancing the demand for specialised ISO tank containers.

As per the ASEAN ISO tank container market analysis, the ongoing technological advancements also present numerous opportunities. The integration of IoT (Internet of Things) and other digital technologies for real-time tracking and monitoring of ISO tank containers can enhance operational efficiency and safety, thereby attracting more end-users.

Market Segmentation

The market can be divided based on transport mode, application, and country.

Market Breakup by Transport Mode

• Road
• Rail
• Marine

Market Breakup by Application

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

Market Breakup by Country

• Vietnam
• Thailand
• Indonesia
• Singapore
• Malaysia
• Others

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the ASEAN ISO tank container market. Some of the major players explored in the report by Expert Market Research are as follows:

• 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

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.