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BANGLADESH SHIP RECYCLING MARKET FORECAST 2024-2032

SCOPE OF THE REPORT

Bangladesh Ship Recycling Market by Vessel Size (Below 60,000 DWT, 60,000 DWT to 125,000 DWT, Above 125,000 DWT) Market by Method (Beaching, Berthing, Dry-dock, Alongside and Slipway, Other Methods) Market by Vessel Type (Oil Tanker, Bulk Carrier, Offshore Vessel, Liquified Gas Carrier, Ferry and Passenger Ship, Chemical Tanker, General Cargo Ship, Container Ship, Other Vessel Types)

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MARKET OVERVIEW

The Bangladesh ship recycling market is set to reach $xx million by 2032, progressing with a CAGR of 9.48% over the projection period, 2024 to 2032. The Bangladesh ship recycling market has emerged as a key player in the global shipbreaking industry, with its yards located primarily along the coastal belt of Chittagong. 

A significant growth driver in the country’s market is the low-cost labor available in Bangladesh, which attracts shipowners seeking cost-effective solutions for vessel disposal. Additionally, the demand for scrap metal and steel in the region, driven by rapid urbanization and industrialization, fuels the market’s expansion. Bangladesh’s strategic geographical location also plays a key role, providing easy access to intercontinental shipping routes and facilitating the import of vessels for recycling.

Bangladesh Ship Recycling Market

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However, the Bangladesh ship recycling market faces several challenges that impede its growth potential. Environmental and safety concerns are paramount among these challenges, as the industry often operates without stringent regulations and enforcement mechanisms. This lack of oversight raises issues related to worker safety, as well as environmental degradation from hazardous materials contained within ships. 

Furthermore, competition from other shipbreaking hubs, such as India and Turkey, poses a threat to Bangladesh’s market share. These competitors are characterized by advanced infrastructure and regulatory frameworks in place, deeming them an appealing alternative for shipowners looking to recycle their vessels.

Efforts are underway to address some of these challenges. For instance, the government has taken steps to improve regulations and enforcement mechanisms, aiming to enhance safety standards and environmental sustainability within the industry. Additionally, international organizations and NGOs are working with local stakeholders to promote responsible ship recycling practices and provide technical assistance. These factors, in turn, are set to influence the country’s ship recycling market growth during the forecast years.

Inkwood Research’s report on the Bangladesh ship recycling market provides in-depth insights as well as the market’s segmentation analysis. The detailed evaluation of the market includes Competitive Landscape, Key Buying Criteria, Regulatory Framework, and Value Chain Analysis. The segmentation analysis of the Bangladesh ship recycling market entails vessel size, method, and vessel type.

Key companies operating in the Bangladesh ship recycling market include PHP Ship Breaking and Recycling Industries Limited, Sagarika Ship Breaking Industries, etc.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2024-2032
Base Year2023
Market Historical Years2018-2022
Forecast Units

Revenue ($ Million)

Segments Analyzed
Vessel Size, Method, and Vessel Type
Countries AnalyzedBangladesh
Companies AnalyzedPHP Ship Breaking and Recycling Industries Limited, Sagarika Ship Breaking Industries, Ratanpur Ship Recycling Industries Ltd, Habib Group Ltd
TABLE OF CONTENTS
  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. COUNTRY SNAPSHOT
    3. COUNTRY ANALYSIS
    4. SCOPE OF STUDY
    5. CRISIS SCENARIO ANALYSIS
      1. IMPACT OF COVID-19 ON SHIP RECYCLING MARKET
    6. MAJOR MARKET FINDINGS
      1. FAVOURABLE ENVIRONMENTAL REGULATIONS ADD TO MARKET GROWTH
      2. MARGINAL GROWTH IN SHIPPING YARD CAPACITIES 
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. STRINGENT SHIP END-OF-LIFE REGULATIONS CONTRIBUTE TO THE GROWTH OF THE STUDIED MARKET
      2. GROWING METAL SCRAP DEMAND POSITIVELY INFLUENCES SHIP RECYCLING MARKET
      3. AGEING FLEET AND VESSEL REPLACEMENT DRIVE DEMAND FOR SHIP RECYCLING 
    2. KEY RESTRAINTS
      1. LACK OF ENVIRONMENTAL SAFETY DUE TO POLLUTION ARISING FROM SHIP DISMANTLING
      2. CONCERNS REGARDING POOR HAZARDOUS WASTE MANAGEMENT DURING SHIP RECYCLING
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
      1. ADOPTION OF SUSTAINABLE SHIP RECYCLING
      2. IMPROVISATION AND ADVANCEMENT OF SHIP RECYCLING TECHNOLOGY
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
      1. GROWTH PROSPECT MAPPING FOR BANGLADESH
    4. MARKET MATURITY ANALYSIS
    5. VALUE CHAIN ANALYSIS
      1. RAW MATERIAL SOURCING
      2. MANUFACTURING AND PRODUCTION
      3. DISTRIBUTORS AND LOGISTICS
      4. RETAILERS AND END-USERS
    6. KEY ASPECTS OF SHIP RECYCLING
      1. RECOVERY OF MATERIALS AND WASTE MANAGEMENT
      2. BASEL CONVENTION COMPLIANCE
      3. ENVIRONMENTAL SUSTAINABILITY
      4. OCCUPATIONAL HEALTH AND SAFETY
      5. SOCIAL RESPONSIBILITY
      6. COMPLIANCE WITH REGULATIONS AND STANDARDS
      7. TRANSPARENCY AND TRACEABILITY
      8. INFRASTRUCTURE AND EQUIPMENT
    7. REGULATORY FRAMEWORK
  5. MARKET BY VESSEL SIZE
    1. BELOW 60,000 DWT
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. 60,000 DWT TO 125,000 DWT
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. ABOVE 125,000 DWT
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  6. MARKET BY METHOD
    1. BEACHING
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. BERTHING
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. DRY-DOCK
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. ALONGSIDE AND SLIPWAY
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    5. OTHER METHODS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  7. MARKET BY VESSEL TYPE
    1. OIL TANKER
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. BULK CARRIER
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. OFFSHORE VESSEL
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. LIQUIFIED GAS CARRIER
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    5. FERRY AND PASSENGER SHIP
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    6. CHEMICAL TANKER
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    7. GENERAL CARGO SHIP
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    8. CONTAINER SHIP
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    9. OTHER VESSEL TYPES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  8. COMPETITIVE LANDSCAPE
    1. COMPANY PROFILES
      1. PHP SHIP BREAKING AND RECYCLING INDUSTRIES LIMITED
        1. COMPANY OVERVIEW
        2. SERVICE LIST
      2. SAGARIKA SHIP BREAKING INDUSTRIES 
        1. COMPANY PROFILE
        2. SERVICE LIST
      3. RATANPUR SHIP RECYCLING INDUSTRIES LTD 
        1. COMPANY PROFILE
        2. SERVICE LIST
      4. HABIB GROUP LTD
        1. COMPANY PROFILE
        2. SERVICE LIST

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – SHIP RECYCLING

TABLE 2: BANGLADESH SHIP RECYCLING MARKET, BY VESSEL SIZE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 3: BANGLADESH SHIP RECYCLING MARKET, BY VESSEL SIZE, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 4: BANGLADESH SHIP RECYCLING MARKET, BY METHOD, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: BANGLADESH SHIP RECYCLING MARKET, BY METHOD, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 6: BANGLADESH SHIP RECYCLING MARKET, BY VESSEL TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 7: BANGLADESH SHIP RECYCLING MARKET, BY VESSEL TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING FOR BANGLADESH

FIGURE 4: MARKET MATURITY ANALYSIS

FIGURE 5: BANGLADESH SHIP RECYCLING MARKET, GROWTH POTENTIAL, BY VESSEL SIZE, IN 2023

FIGURE 6: BANGLADESH SHIP RECYCLING MARKET, BY BELOW 60,000 DWT, 2024-2032 (IN $ MILLION)

FIGURE 7: BANGLADESH SHIP RECYCLING MARKET, BY 60,000 DWT TO 125,000 DWT, 2024-2032 (IN $ MILLION)

FIGURE 8: BANGLADESH SHIP RECYCLING MARKET, BY ABOVE 125,000 DWT, 2024-2032 (IN $ MILLION)

FIGURE 9: BANGLADESH SHIP RECYCLING MARKET, GROWTH POTENTIAL, BY METHOD, IN 2023

FIGURE 10: BANGLADESH SHIP RECYCLING MARKET, BY BEACHING, 2024-2032 (IN $ MILLION)

FIGURE 11: BANGLADESH SHIP RECYCLING MARKET, BY BERTHING, 2024-2032 (IN $ MILLION)

FIGURE 12: BANGLADESH SHIP RECYCLING MARKET, BY DRY-DOCK, 2024-2032 (IN $ MILLION)

FIGURE 13: BANGLADESH SHIP RECYCLING MARKET, BY ALONGSIDE AND SLIPWAY, 2024-2032 (IN $ MILLION)

FIGURE 14: BANGLADESH SHIP RECYCLING MARKET, BY OTHER METHODS, 2024-2032 (IN $ MILLION)

FIGURE 15: BANGLADESH SHIP RECYCLING MARKET, GROWTH POTENTIAL, BY VESSEL TYPE, IN 2023

FIGURE 16: BANGLADESH SHIP RECYCLING MARKET, BY OIL TANKER, 2024-2032 (IN $ MILLION)

FIGURE 17: BANGLADESH SHIP RECYCLING MARKET, BY BULK CARRIER, 2024-2032 (IN $ MILLION)

FIGURE 18: BANGLADESH SHIP RECYCLING MARKET, BY OFFSHORE VESSEL, 2024-2032 (IN $ MILLION)

FIGURE 19: BANGLADESH SHIP RECYCLING MARKET, BY LIQUIFIED GAS CARRIER, 2024-2032 (IN $ MILLION)

FIGURE 20: BANGLADESH SHIP RECYCLING MARKET, BY FERRY AND PASSENGER SHIP, 2024-2032 (IN $ MILLION)

FIGURE 21: BANGLADESH SHIP RECYCLING MARKET, BY CHEMICAL TANKER, 2024-2032 (IN $ MILLION)

FIGURE 22: BANGLADESH SHIP RECYCLING MARKET, BY GENERAL CARGO SHIP, 2024-2032 (IN $ MILLION)

FIGURE 23: BANGLADESH SHIP RECYCLING MARKET, BY CONTAINER SHIP, 2024-2032 (IN $ MILLION)

FIGURE 24: BANGLADESH SHIP RECYCLING MARKET, BY OTHER VESSEL TYPES, 2024-2032 (IN $ MILLION)

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