Bulk Terminals Market Forecasts to 2028 – Global Analysis By Bulk Type (Liquid Bulk, Dry Bulk), Application (Coal Industry, Food and Beverage, Oil and Gas, Agriculture, Mine & Metal Terminals), and By Geography
According to Stratistics MRC, the Global Bulk Terminals Market is accounted for $18,348.68 Million Tons in 2021 and is expected to reach $26,339.25 Million Tons by 2028 growing at a CAGR of 5.3% during the forecast period. Bulk terminals are used to transport bulk products from one ship to another. These terminals play an important role in industrial infrastructure, wherein they make sure safe and efficient movement of crucial resources. It serves myriads of purposes such as trading platform, logistics function, and strategic storage. Though, operational requirements of commercial clients usually trigger industrial operators to emphasize on trading and logistics functions.
Increasing trade of natural gas and rising demand for cargo transportation through ships are likely to drive the terminal automation market. Several countries are resorting to setting up floating terminals for storing oil & gas because of the increasing demand for natural gas, especially LNG. According to the U.S. Energy Information Administration’s (EIA) latest International Energy Outlook 2019, the annual expectation of natural gas consumption in non-OECD Asia is to reach 120 billion cubic feet per day (Bcf/d) by 2050, outpacing regional production by 50 Bcf/d. This supply imbalance widens through the projection period, resulting in non-OECD Asia’s increasing reliance on natural gas imports from other regions.
Rising trade of natural gas
Since the level of emission from power industries and automobiles has increased significantly, it has become mandatory to find substitutes for conventional fuels such as coal and other petroleum-based fuels. As a result of this, many major consumer economies have shown inclination to adopt natural gas as an effective substitute with lesser emission. According to Coherent Market Insights’ analysis, Global natural gas production has grown by approximately 2.2% in 2015 than in the preceding year, whereas consumption of natural gas is increased by 1.7%. Countries such as Australia, Qatar, and Norway increased the export of natural gas significantly. According to the same source, global LNG trade was valued at around 244.8 MT in 2015, an increase of nearly 4.7 MT than that in 2014. Thus, increasing focus on natural gas from developed as well as emerging economies is expected to boost the global bulk terminals market growth over the forecast period.
High capital investment and operational cost
Land circumstances for establishing a bulk terminal requires a considerable amount of investment as it needs a extensive rigid surface and consistent construction to accommodate heavy machines and distinguish bulk material. In addition, construction of a port or terminal involves land reclamation by depositing million tons of rocks, cement, and construction materials, in order to obtain elevated rigid surface in shallow water conditions. Thus, this huge investment can be a major concern for any government or company. Hence, these factors are expected to hinder the market growth in the near future.
Increasing preference for floating terminals for liquid bulk
Infrastructure cost allied with transportation of oil & gas is superior as compared to that of other merchandise. The liquid bulks are preferably transported through large tanker vessels, which may require undergoing additional regasification and processing. Numerous countries are resorting to set up floating terminals for storing oil & gas due to growing demand for natural gas, especially LNG. These floating terminals comprise an onboard regasification unit and are capable of transporting and regasifying LNG.
Strict regulatory policies and norms
The terminal management and shipping industry involves high economic and human life risks. The bulk terminal operations may engross stevedoring of diverse unpacked materials, which may have volatile fumes or micro-particles that get mixed in air contaminating the environment, flammable or possess high risk of spoilage. Diverse governments and health and safety departments have set rules and regulations for their respective countries. For instance, European Union in 2001, mentioned rules for bulk terminals under “DIRECTIVE 2001/96/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL – establishing harmonized requirements and procedures for the safe loading and unloading of bulk carriers”.
The dry bulk segment is expected to be the largest during the forecast period
The dry bulk segment is estimated to have a lucrative growth owing to developing countries and their cleaner energy utilizing approach and thus restricting the coal consumption. Dry bulk is a product, shipped in large amounts and unpackaged situations by the bulk carrier. Generally, dry bulk products are categorized major dry bulk and Minor dry bulk, major dry bulk comprises Grains, Coal And Iron Ore, Minor bulk includes Minerals, fertilizer, cement, woods, sugar, Bauxite/Alumina, etc.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the rising demand of grain bulk terminals in this region. National oil firms in China house biggest number of tank terminal operators across the world. Moreover, agricultural production is highly concentrated on countries such as the China, and India, which accounts for over 75% of import and export of various grains as minor bulk commodities.
Region with highest CAGR:
Middle East & Africa is projected to have the highest CAGR over the forecast period, as it is seeing increasing trend of expansion of inland bulk terminals-dry ports to decongest port traffic and therefore, save storage expenses. Expansion of port infrastructure in Middle East & Africa is largely propelled by commodity market export of bulk mineral resources and import of containerized products. This disparity exists due to limited processing of raw materials in the region.
Key players in the market
Some of the key players profiled in the Bulk Terminals Market include DP World Ltd., Puerto Ventanas S.A., China Merchants Port Holdings Co. Ltd. (CMPort), HES International B.V., Broekman Logistics, Ultramar Group, DaLian Port (PDA) Company Limited, Euroports Holdings S.à r.l., Yilport Holding Inc., Noatum Maritime, Thessaloniki Port Authority SA., Global Ports Investments PLC, Royal HaskoningDHV, Bruks Siwertell Group, Ports America, Inc., and Essar Ports.
In Dec 2019, China Merchants Port Holdings Co. Ltd. (CMPort ) has collaborated with CMA CGM to acquire 10 port terminals to Terminal Link - joint venture of the two firms. Further, CMPort organized virtual agreement ceremony with Thessaloniki Port Authority S.A. (ThPA) in Greece, Shenzhen, and Hong Kong and inked two agreements on strategic collaboration and port information system.
In June 2019, Ultramar Group entered into a transshipment agreement with Acron Group to transship over 1.2 million tpy of mineral fertilizers. The two companies also executed a lease agreement for four warehouses in the Russian port of Ust-Luga with a capacity of approximately 140 000 t of mineral fertilizers. Cooperation with Ultramar is in line with Acron’s strategy to redirect transshipment of product flows to Russian ports, which will help increase the Group’s contribution to the Russian economy and ensure reliable supplies to our customers.
In November 2017, Noatum Maritime acquired a portfolio of multi-purpose bulk terminals from Noatum Ports. This portfolio includes terminals in Santander (Noatum Terminal Santander), Sagunto (Noatum Terminal Sagunto), Malaga (Noatum Terminal Malaga) and Barcelona (Autoterminal). These terminals are part of Noatum Terminals, one of the three business units that were created earlier this year under Noatum Maritime.
Bulk Types Covered:
• Liquid Bulk
• Dry Bulk
• Coal Industry
• Food and Beverage
• Oil and Gas
• Mine & Metal Terminals
• North America
Rest of Europe
• Asia Pacific
Rest of Asia Pacific
• South America
Rest of South America
• Middle East & Africa
Rest of Middle East & Africa
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