Flexitank Market By Type (Monolayer, Multilayer), By Loading Type (Top Loading, Bottom Loading), By Application (Food-Grade Liquids, Non-Hazardous Chemicals/Liquids), By Material (High-density Polyethylene (HDPE), Low-density Polyethylene (LDPE)), And Region for 2024-2031

Flexitank Market Valuation – 2024-2031

The Flexitank Market in the forecast period, while government measures to adopt green logistic practices will open the way for market growth. The growing global demand for wine, as well as its highly competitive advantages over other accessible liquid products, are driving the market’s growth pace. Portable setups are likely to cushion the expansion. The market size surpass USD 691.9 Billion valued in 2023 to reach a valuation of around USD 2959.22 Billion by 2031.

Furthermore, the global commerce of food-grade liquids, non-hazardous chemicals, and medicinal liquids is predicted to expand, cushioning overall market growth. The competitive advantages of flexitanks over typical replacements such as ISO containers, drums, barrels, and IBCs are expected to drive market expansion during the projection period. On the other side, the availability of replacements is projected to limit the expansion of the Flexitank Market. The rising demand for cost-effective and efficient time attendance software is enabling the market grow at a CAGR of 19.92% from 2024 to 2031.

Flexitank MarketDefinition/ Overview

Flexitanks are flexible, collapsible containers used to transport and store non-hazardous liquids. Typically, it is constructed from numerous layers of polyethylene or other suitable materials. These layers add strength and endurance while keeping the liquid inside uncontaminated.

Flexitanks are widely utilized in the shipping industry as a low-cost alternative to traditional liquid transport techniques including drums and intermediate bulk containers (IBCs). They are particularly popular for moving bulk liquids such as wine, edible oils, juices, liquid chemicals, and other non-hazardous substances.

Flexitanks are designed to fit into ordinary shipping containers, allowing them to make the best use of available space during transit. Once loaded with liquid cargo, the flexitank is locked within the container to prevent movement during travel.

When the liquid arrives at its destination, it is readily pumped out of the flexitank, and the empty container may be compressed for return transport or disposal. Flexitanks are the chosen choice for many companies involved in liquid transportation on a global scale due to their simplicity and efficiency.

Which Factors are Driving Demand for Flexitank Market?

Global population growth, increased food demand, and dwindling arable land area are driving an increase in international trade. This is one of the primary factors driving the flexitanks market forward. Major players are collaborating with other businesses to create flexitanks made from recyclable and renewable materials, addressing environmental concerns.

The expanding oil and gas sector, as well as rising industrial and commercial water consumption, are driving market expansion. Flexitanks are increasingly being used to improve fuel efficiency, affecting the market’s growth. In addition, the industry is being driven by increased usage of poly water tanks and measures to replace worn-out chemical storage tanks.

To enhance the strength and longevity of these things for safe transportation, significant parties are sponsoring projects and R&D efforts. The increasing demand for imported alcoholic drinks is likely to drive market growth in the coming years.

Flexitank demand is expected to increase due to government regulations and environmental concerns over the anticipated period, leading to a shift towards green logistics. As consumers become more aware of the benefits of flexitanks, the market is projected to rise over time.

The product’s growing popularity is attributed to the beneficial qualities of the production material. The Container Owners Association (COA) has established strict usage criteria for this product, which ensures its safety and promotes global acceptance. Shippers can transport bulk liquid commodities more inexpensively and safely by placing flexitanks in ocean containers. Flexitanks are an adjustable, safe, and cost-effective solution for carrying bulk liquids.

What Factors may Hamper the Flexitank Market Growth?

Flexitanks are becoming increasingly important for high-volume, cost-effective transportation of pharmaceuticals, non-hazardous chemicals, and food-grade products due to stringent requirements imposed by many countries.

Flexitank leakage or fracture can cause a complete loss for the carrier, leading to reduced use of products for shipping hazardous liquids. The price volatility of plastic resins, the key raw material used in flexitanks, is expected to pose issues for manufacturers.

Flexitanks may not be appropriate for all liquids or commodities. Certain compounds may react with materials used in flexitanks, causing compatibility concerns or product contamination. This constraint may limit the usability of flexitanks in particular sectors or product categories.

Flexitanks require proper infrastructure, including loading and unloading facilities, transportation modes, and storage options. In regions with weak infrastructure, flexitank uptake and utilization are limited, hindering market growth.

Category-Wise Acumens

How the Multilayer is Leading Segment for the Flexitank Market?

Multilayer flexitanks are made of four to five thin, flexible layers of polyethylene, providing versatility and strength. Many firms like them because of their ease of installation and emptying.

These flexitanks are not only cost-effective, but also dependable and safe for bulk liquid transfer. They improve overall tank performance and efficiency by reducing content loss during transfer. As a result, the multilayer product segment is likely to remain the dominant player in the flexitanks market over the forecast period.

How does the Flexitank Market Cater to Demand for Food Product Grade?

In 2023, the food grade sector was emerged the leading force in the Flexitank Market, accounting for a significant 34% market share. This upward trend can be ascribed to the increasing global demand for various foods and food products. Fruit juices, juice concentrates, edible oils, glucose, and jam have all contributed to the expansion of this category, demonstrating the importance of flexitanks in the efficient transportation of both perishable and non-perishable foods.

Concurrently, the chemical segment has emerged as the fastest-growing sector in the Flexitank Market. This rapid growth is mostly driven by a thriving chemical sector, particularly in important locations. As chemical firms become more reliant on flexitanks for the safe and cost-effective transportation of their goods, demand for flexitanks in this area grows.

Overall, the Flexitank Market is characterized by a dynamic environment, with the food grade segment dominating due to global demand for food goods, and the chemical segment rapidly expanding due to the thriving chemical industry. This diversification demonstrates flexitanks’ adaptability and versatility across multiple industries, cementing their place as important assets in modern logistics and transportation.

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Country/Region-wise Acumens

What Factors are Driving the Projected Growth of the Flexitank Market in the United States?

Flexitank demand in the United States is expected to reach $873 million by 2033, growing at a significant CAGR of 12.9% during the forecast period.

Market expansion in this region is mostly driven by the US’s frequent exports and the need to cut shipping costs. It is expected to rise greatly in the next years as a result of increased international canola oil production. The country is one of the leading canola oil exporters.

The US market for flexitanks and bulk liquids, such as food and beverage items, chemicals, oils, and industrial fluids, is significant due to its robust logistics and transportation infrastructure. Flexitanks provide a diverse and cost-effective option for delivering these commodities.

Will Demand for Flexitank Rise in the Asia Pacific?

The flexitanks market in Asia Pacific, like China is expected to reach USD 890.96 Million by 2033, representing a phenomenal compound yearly growth rate (CAGR) of 12.8% from 2023 to 2033.

Both India and China play critical roles in the bulk liquid shipping sector, accounting for a considerable portion of the industry’s global volume. However, the global industry remains fragmented due to the existence of several competitors around the world. Flexitank manufacture is economical and requires limited raw resources.

China stands out as the world’s leading producer, with the highest output. The country leads all others in both flexitank and liner exports. This dominance is due to China’s low manufacturing costs and favorable regulatory environment. As a result, most flexitank production plants are advantageously positioned in China.

Competitive Landscape

The Flexitank Market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the Flexitank Market include

Braid Logistics, Bulk Liquid Solutions, Environmental Packaging Technologies, SIA Flexitanks, Trans Ocean Bulk Logistics, Qingdao Laf Packaging, Hengxin Plastic, Qingdao Global Flexitank Logistics, Trust Flexitanks, Rishi FIBC, BeFlexi, Mak & Williams Flexitank Supply Limited, BLT Flexitanks Industrial.

Latest Developments

• In November 2023, ASF Logistics, a top provider of specialized worldwide transportation solutions, expanded its flexitanks business. ASF offers entire flexitank logistics and transportation solutions, from traditional single tanks to novel 3-tank systems.
• In April 2020, FESCO Transportation Group and Rail Cargo Logistics-RUS shipped canola vegetable oil in containerized flexitanks from Krasnoyarsk, Russia to Nantong, China.
• In September 2019, SIA Flexitanks’ subsidiary SIA Asia emphasized its development in the Asia Pacific region by establishing a new office and warehousing facility in Malaysia. The new facilities will improve customer service and expand the company’s presence throughout Asia Pacific.

Report Scope

Flexitank Market, By Category

Type

• Monolayer
• Multilayer
• Bi-layer

Loading Type

• Top Loading
• Bottom Loading

Application

• Food-Grade Liquids
• Non-Hazardous Chemicals/Liquids
• Pharmaceutical Liquids
• Industrial Liquids
• Agricultural Liquids

Material

• High-density polyethylene (HDPE)
• Low-density polyethylene (LDPE)
• Linear low-density polyethylene (LLDPE)

Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Research Methodology of Market Research

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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