Flexitank Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Flexitank Market grew at a CAGR of 10.8% between 2017-2021 and is estimated to be US$ 512.7 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 12.9% and is expected to reach a valuation of US 1,725.1 Mn by 2032 end.
Throughout the projected period, the market is anticipated to grow in response to rising demand for various liquid worldwide trade and flexitanks’ competitive advantages over more conventional alternatives such as ISO containers, drums, barrels, and IBCs.
ECONOMICAL AS COMPARED TO CONVENTIONAL TRANSPORTATION CONTAINERS
Flexitanks are designed for efficient, flexible, and economical handling and transporting of liquid goods. Flexitanks have a large interior volume, allowing them to carry larger amounts of liquids than standard ISO containers while remaining lightweight and versatile. This makes them perfectly suited for transporting bulk fluids such as milk, sauces, and chemicals. With flexitanks, fluids safely transport up to four times more products than in other ISO containers on your daily route.
Flexitanks are more economical compared to traditional transportation containers. This is because flexitanks allow for the transporting of bulk cargo as well as small items at the same time. In addition, flexitanks can be stacked together to make a bigger storage unit rather than individual containers. Finally, flexitanks require less labor since no people are needed during the loading and unloading of the tankers.
FLUCTUATING MARKET PRICES HAMPER THE MARKET GROWTH
The impact of COVID-19 pandemic has considerably impacted plastic production. Since the early stage of 2020, North America has been the victim of a severe supply shortage of polyolefins, especially PTFE and PPS. Due to chemical plants being shut down during the early weeks, prices of PVC and PE have skyrocketed. As PVC, PP, and PE use flexitanks, challenges to the flexitank market can be expected.
THE RISE IN THE WINE TRADE WILL CREATE MORE OPPORTUNITIES FOR THE MARKET
Globalization and expanding economies have boosted the international wine trade, producing a demand for the product never before experienced. As shipping containerization has increased and cost has decreased, these containers have become widely used worldwide. Their construction is versatile, lightweight, and environmentally friendly, so that they can be shipped easily in all weather conditions. This flexibility means they can be transported in planes, trains, and automobiles, unlike traditional wine racks or bulk cases.
Market Segments Covered in Report
By Loading Type:
By Region and Country:
Why are multi-layer segments projected to ensure the most revenue during the forecast period?
At 65.0% of the market, multi-layer Flexitank had the greatest revenue share. The main advantage of the multi-layer Flexitank is that each layer is very thin and flexible, making it very easy when unloading is done to roll the empty Flexitank to avoid wasting any liquid. The multiple layers also safeguard the cargo from contamination. Oxygen and moisture barriers are vital for transporting food-grade liquids, so that flexitanks will dominate the market in future years.
Why is the food segment expected to expand the fastest during the forecast period?
In 2021, the food segment application market will rule. The primary driver of the expansion of Flexitanks is ideal for the safe storage and transporting of food-grade liquids, such as juices, wines, milk, syrups, edible oils, etc. Flexitanks offer a more cost-effective and reliable alternative for transporting food liquids via sea, rail, and land.
The Flexitank consists of several layers, each containing pumps and valves that play a vital role in sealing off air and water, making them both airproof and waterproof. This makes sure that the product inside the flexitanks remains intact and uncontaminated. This property makes flexitanks completely safe and secure for transportation.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Major corporations are utilizing organic and inorganic development tactics to strengthen their position in the market by diversifying the products they provide. These actions have enabled market participants to increase their clientele and revenue. With the increasing demand for chlorinated solvents in the worldwide industry, market players in the Flexitank Market market can anticipate attractive growth prospects in the future.
Some of the key developments that have taken place in the Flexitank Market include:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Loading Type, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 12.9%.
The growth of the global wine trade is driving the Flexitanks market. Flexitank’s competitive advantages over alternative products are anticipated to boost global market growth throughout the forecast period.
Major global Flexitank Market players are SIA Flexitanks, Trust Flexitanks, Bulk Liquid Solutions, Environmental Packaging Technologies, Hillebrand, Braid Logistics, Flexitank Group, BeFlexi, Rishi FIBC, Trans Ocean Bulk Logistics.
The fluctuating raw material pricing for Flexitank has constrained market growth.
The Asia Pacific region is expected to account for the largest market revenue share in the Global Flexitank market.
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