Bulk terminals play instrumental role in industrial infrastructure, wherein they ensure safe and efficient movement of critical resources. Despite current downturns in global seaborne trade due to COVID-19 pandemic, the global minor bulk trade has expanded considerably. Analysts at Future Market Insights (FMI) have estimated that global minor bulk traded has expanded up to 1.74 billion tons.
According to an FMI report, the production of steel and forest products accounted for 43% of minor bulk commerce. Moreover, metals and minerals have taken up around 37% of minor bulk trade, followed by agricultural products at 20%.
About 34 of the export and import of various grains as minor bulk commodities are made up of nations including the US, Argentina, Brazil, China, and India, where agricultural output is mostly focused.
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Bulk Terminals Market Size Study
- Sales of bulk terminals to remain stable over the forecast period, 2020-2030
- Dry bulk continues to generate greater total returns to shareholders (TRS)
- Nearly 190 terminals were under expansion worldwide in June 2019, with an additional 49 under construction
- Markets in Europe and North America to generate relevant value through 2030
COVID-19 Impact on Bulk Terminals Market
The COVID-19 pandemic is triggering huge supply chain disruptions for bulk terminals market due to strict lockdown measures, especially in Asian supplier regions. Such stringent measures have led to dearth of workers – truck drivers and labors – at port terminals.
In addition, the market is suffering due to shortage of transportation facilities such as. Studies reveal that trucks and containers dropped by about 50% due to decreasing number of trailers and unavailability of drivers. This has further slowed down transshipping operations at terminals.
Driven by rising concerns regarding worker safety, several end-use industrial operators have brought manufacturing processes to temporary halt, thereby, hurting the demand for bulk terminals.
In an effort to stay afloat amid the COVID-19 crisis, upgradation in automation capabilities will be critical for bulk terminal market players in immediate future.
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Bulk Terminals Market – Competitive Intelligence
Leading players in global bulk terminals market are focused on inorganic growth strategies such as mergers and acquisitions (M&A) as well as contracts in order to boost theor market presence. Case in point,
- Ultramar Group has entered into transshipment collaboration with Acron Group to transship over 1.2 million tons per year (tpy) of mineral fertilizers.
- Noatum Maritime has taken over multi-purpose bulk terminal business from Noatum Ports.
- Teck Resources and Westshore Terminals have entered into an agreement for new throughput contract for export of metallurgical coal beginning in April 2021. The contract will witness 5-7 million mt of metallurgical coal exported from April through December 2021.
Global bulk terminals market segmentation
By Bulk Type:
- Dry Bulk
- Grain
- Coal
- Iron Ore
- Others
- Liquid Bulk
- Oil
- Gas
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- Middle East & Africa (MEA)
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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