The global flexitanks Market is forecast to reach USD 1.77 billion by 2027, according to a new report by Reports and Data. Growth in the trade of food-grade liquids, non-toxic chemicals, and pharmaceutical liquids are the major driving factors of the flexible tank market.
Flexitank is a bulk liquid container that consists of multiple layers of polyethylene that has an outer covering of woven polypropylene and can be used for transportation of any non-toxic liquids using the standard 20-foot railway or sea container. Flexitank is used to transport almost any non-toxic liquids, for industrial as well as food application, like juice concentrate, food, edible and animal oils, and fats, syrups, juices, wine, water, pharmaceutical, and food additives among other products.
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Top Leading Players in The Global Flexitanks Market Are:
SIA Flexitanks, Bulk Liquid Solutions, Trust Flexitanks, Braid Logistics, Environmental Packaging Technologies, Proagri Solutions, Qingdao Global Flexitank Logistics, Hengxin Plastic, Trans Ocean Bulk Logistics, and Myflexitank, among others.
Further key findings from the report suggest:
- Singlelayer Flexitank dominated the market with 91.6% of the share in the year 2019 and is forecasted to grow with a higher CAGR of 19.1% during the forecast period. These type of tanks have increased carrying capacity as compared to multilayer flexitank and is also cost-efficient. Singlelayer flexitanks can carry all types of non-hazardous liquids and semi-solid products.
- Top loading flexitank is forecasted to grow with a CAGR of 18.0% during the forecast period. These type of flexitanks witness huge demand in Europe, for food-grade liquids and non-toxic chemicals transportation. There are difficulties in loading and unloading for the top loading flexitanks.
- Food-grade liquids are forecasted to hold a market share of 39.7% in the year 2019. The rise in export of food-stuff from several countries such as Mexico, Canada, Spain, Netherlands, India, Denmark, Brazil, and Singapore are propelling the demand for the market. Growing population and surge in demand for food is fueling the growth of the market.
- Europe is forecasted to grow with a CAGR of 19.2% during the forecast period. The growth in industrial and chemical industries in Germany and the U.K. has boosted the demand for the market. Flexitank is cost-effective and an effective mode of transportation which is anticipated to fuel the market demand.
Segments covered in the report:
Type Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2017-2027)
- Singlelayer Flexitank
- Multilayer Flexitank
Loading Type Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2017-2027)
- Top Loading Flexitanks
- Bottom Loading Flexitanks
Application Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2017-2027)
- Food-Grade Liquids
- Non-Hazardous Chemicals/Liquids
- Pharmaceutical Liquids
- Others
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Flexitanks Market Upcoming Growth:
The flexitanks market is expected to experience significant growth in the upcoming years. Flexitanks are used for the transportation of non-hazardous liquids in bulk quantities. The growing demand for transportation of liquids such as food products, chemicals, and pharmaceuticals is driving the growth of the flexitanks market.
One of the major drivers for the growth of the flexitanks market is the cost-effectiveness of flexitanks over traditional shipping methods such as drums and intermediate bulk containers (IBCs). Flexitanks can hold up to 25,000 liters of liquid, which reduces the number of containers needed for transportation and hence reduces transportation costs.
Moreover, the use of flexitanks is environmentally friendly as they are recyclable and produce less waste compared to other packaging methods. This has led to an increase in the adoption of flexitanks by companies looking to reduce their carbon footprint.
Additionally, the growth of the food and beverage industry and the increasing demand for wine and other alcoholic beverages is expected to drive the growth of the flexitanks market. Flexitanks are ideal for the transportation of liquids such as wine and fruit juices as they can maintain the quality and freshness of the products.
The Asia-Pacific region is expected to be the fastest-growing market for flexitanks due to the growth of the chemical, pharmaceutical, and food and beverage industries in the region. The increasing trade activities and rising demand for cost-effective and efficient transportation methods are also expected to drive the growth of the flexitanks market in the region.
Overall, the flexitanks market is expected to experience significant growth in the upcoming years due to the cost-effectiveness, environmental friendliness, and increasing demand for the transportation of liquids in bulk quantities.
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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