Flexitank Market Size Worth USD 4784.1 Million in 2032 | Emergen Research
Rising trade of wine globally is one of the major factors driving Flexitank market revenue growth
Vancouver, Dec. 27, 2023 (GLOBE NEWSWIRE) -- The global flexitank market size was USD 762.3 Million in 2022 and is expected to register a steady revenue CAGR of 20.2% during the forecast period, according to latest analysis by Emergen Research. Rising trade of wine globally is the primary factor driving market revenue growth. Flexitanks maximize container space utilization by fitting into ordinary 20-foot containers, enabling for bigger volumes to be carried in a single load. Flexitanks help to reduce transportation costs, making worldwide distribution more financially viable for wineries of all sizes because of this efficient use of space.
In addition, rising demand for flexitanks in the Food & Beverage (F&B) sector to maintain the product quality is another factor driving revenue growth of the market. These flexitanks are designed to be airtight and provide an additional layer of protection against external contaminants, ensuring the integrity and purity of transported liquids. Flexitanks are commonly used in the transportation of food grade products, such as malts, edible oil and fruit concentrates, beverages, and non-hazardous chemicals, owing to their high efficiency and outstanding contamination protection. Moreover, increasing need for eco-friendly packaging alternatives is also expected to drive market revenue growth during the forecast period. Flexitank is easily recycled and disposed of after its lifecycle, which is made of advanced coated fabrics and other materials, hence it is reusable. However, many flexitanks are designed for single-use, hence cannot be reused for subsequent shipments, which could restrain market revenue growth. In addition, materials used in flexitanks may have a limited shelf life and proper storage conditions are essential to maintaining their integrity.
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*Scope of Research *
*Report Details* *Outcome*
Market Size in 2022 USD 762.3 Million
CAGR (2023–2032) 20.2%
Revenue Forecast To 2032 USD 4784.1 Million
Base Year For Estimation 2022
Historical Data 2019–2021
Forecast Period 2023–2032
Quantitative Units Revenue in USD Million and CAGR in % from 2023 to 2032
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered Product type, material composition, end-use, loading type, mode of transportation, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled Qingdao LAF Technology Co., Ltd, TRUST Flexitanks, Rishi FIBC Solutions Pvt. Ltd, SIA FLEXITANKS, Bulk Liquid Solutions, flexitankflexibag.com, MYFLEXITANK, Bulkhaul Limited, Infocom Network Private Limited, Kricon Group, Fluid Flexitanks, Bulk Liquid Transport, Rishi FIBC Solutions Pvt. Ltd, Qingdao Hengxin Plastic Co., Ltd, Liqua, Omni Logistics, LLC, IRONMARKETS, LLC, and Büscherhoff Packaging Solutions GmbH
Customization Scope 10 hours of free customization and expert consultation
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*Major Companies and Competitive Landscape *
The global flexitank market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective products in the market.
*Some major players included in the global flexitank market report are: *
· Qingdao LAF Technology Co., Ltd.
· TRUST Flexitanks
· Rishi FIBC Solutions Pvt. Ltd.
· SIA FLEXITANKS
· Bulk Liquid Solutions
· flexitankflexibag.com
· MYFLEXITANK
· Bulkhaul Limited
· Infocom Network Private Limited
· Kricon Group
· Fluid Flexitanks
· Bulk Liquid Transport
· Rishi FIBC Solutions Pvt. Ltd.
· Qingdao Hengxin Plastic Co., Ltd.
· Liqua
· Omni Logistics, LLC.
· IRONMARKETS, LLC.
· Büscherhoff Packaging Solutions GmbH
*Strategic Development*
· On 7 November 2023, ASF Logistics, the human standard in global logistics, announced the growth of their Flexitanks section, to increase the adoption of the highly efficient and ecologically friendly method of shipping for non-hazardous bulk liquid goods. ASF offers a full end-to-end Flexitank logistics and transportation solution, comprising the standard single tank and the novel three-tank system. Shippers in the U.S. benefit from having access to high-quality tanks made in North America, which ensures prompt availability, greater performance, and dependability.
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*Some Key Highlights from the Report*
· The pharmaceutical flexitanks segment accounted for largest revenue share in the global flexitank market in 2022. This is attributed to rising demand for flexitanks since these provide a cost-effective solution for the transport of pharmaceutical liquids, by reducing transportation costs. Security and traceability are important considerations in the pharmaceutical supply chain. Flexitank systems used for pharmaceuticals must ensure proper sealing and provide a mechanism for tracking and monitoring the shipment. In addition, single-use nature of many flexitanks reduce the risk of contamination between different pharmaceutical shipments, ensuring the purity and integrity of products, hence driving revenue growth of this segment.
· The single-layer flexitanks segment is expected to register steadily fast revenue growth rate in the global flexitank market during the forecast period due to increasing need for single-use flexitanks among clients owing to their suitability for single-use shipments. These flexitanks can transport various non-hazardous liquids, such as oils, juices, and wine, and are also lightweight and simple to install. In addition, rising need for liquid bulk transportation, in the F&B sector is also expected to drive revenue growth of this segment during the forecast period. Moreover, single-layer flexitanks are more cost-effective which leads to lower manufacturing costs. Some providers offer customization options for single-layer flexitanks, allowing businesses to brand flexitanks with logos or other information.
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*Emergen Research has segmented the **global **flexitank market** on the basis of **product type, material composition, end-use, loading type, mode of transportation,** and region:*
· *Product Type Outlook (**Revenue, USD Million**; 2019-2032**)*
· Food-Grade Flexitanks
· Chemical Flexitanks
· Pharmaceutical Flexitanks
· *Material Composition **Outlook (**Revenue, USD Million; 2019-2032**)*
· Single-Layer Flexitanks
· Multi-Layer Flexitanks
· *End-use** Outlook (**Revenue, USD Million; 2019-2032**)*
· Food & Beverages (F&B)
· Chemicals
· Pharmaceuticals
· Industrial Liquids
· *Loading Type Outlook (**Revenue, USD Million; 2019-2032**)*
· Top Loading Flexitanks
· Bottom Loading Flexitanks
· *Mode of Transportation Outlook (**Revenue, USD Million; 2019-2032**)*
· Maritime Flexitanks
· Land Transportation Flexitanks
· *Regional Outlook (**Revenue, USD Million; 2019-2032**)*
· North America
1. U.S.
2. Canada
3. Mexico
· Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
· Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
· Latin America
1. Brazil
2. Rest of LATAM
· Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa
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