Global Flexitank Market, By Product (Monolayer, Bi-layer, Multilayer), Type (Single Use, Reusable), Loading Type (Top Loading, Bottom Loading), Material (Polyethylene, Polypropylene, Others), Application (Food Grade Liquids, Non-Hazardous Chemicals, Industrial Liquids, Agricultural Liquids, Others) – Industry Trends and Forecast to 2030.
Flexitank Market Analysis and Size
The increasing demand of wine across the globe and highly competitive benefits over other available products are the root cause fueling up the market growth rate. The factors expected to cushion the growth of the flexitank market in the forecast period are the portable setups and initiatives taken by government to incorporate green logistic practices will further carve the way for the growth of market in the forecast period of 2022 to 2030. In addition to this, the growth in the global trade of food-grade liquids, non-hazardous chemicals, and pharmaceutical liquids are further expected to cushion the overall markets growth. The competitive benefits of flexitanks over their traditional substitutes, such as ISO containers, drums, barrels, and IBCs are projected to boost the market’s growth in the above-mentioned forecast period. On the other hand, the availability of the substitutes are expected to impede the growth of the flexitank market. The toppling risk associated with the use of flexitanks are also projected to hamper market’s overall growth in the forecast period of 2023 to 2030.On the flip side, the increase in the raw material prices is projected to pose as a major challenge to the growth of the flexitank market are expected to propel the market growth rate during the forecast period.
Data Bridge Market Research analyses that the flexitank market is expected to undergo a CAGR of 21.0% during the forecast period. This indicates that the market value, which was USD 2,877 million in 2022, is expected to USD 3,988.685 million by 2030. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, technological advancements, and patent analysis.
Flexitank Market Scope and Segmentation
Report Metric |
Details |
Forecast Period |
2023 to 2030 |
Base Year |
2022 |
Historic Years |
2021 (Customizable to 2015-2020) |
Quantitative Units |
Revenue in USD Million, Volumes in Units, Pricing in USD |
Segments Covered |
Product (Monolayer, Bi-layer, Multilayer), Type (Single Use, Reusable), Loading Type (Top Loading, Bottom Loading), Material (Polyethylene, Polypropylene, Others), Application (Food Grade Liquids, Non-Hazardous Chemicals, Industrial Liquids, Agricultural Liquids, Others) |
Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
Market Players Covered |
Bulk Liquid Solutions (Bangalore) , SIA FLEXITANKS (Ireland), Qingdao LAF Packaging Co., Ltd. (China), Hengxin Plastic Co.,Ltd.(China), Qingdao Global Flexitank Logistics (China), TRUST Flexitanks (Spain), Rishi FIBC Solutions PVT. Ltd. (Vadodara) among others |
Market Opportunities |
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Market Definition
Flexitanks, also referred as flexibags, are made up of multilayers of polyethylene and an outer layer of woven polypropylene, and are commonly used to transport materials such as juices, wines, non-hazardous chemicals, and other materials across international borders. They are useful in transportation of bulk quantities of products and are used across various application such as the food grade liquids, non-hazardous chemicals, industrial liquids, agricultural liquids and others.
Global Flexitank Market Dynamics
Drivers
- Cost Effictiveness and Efficient Use of Space
Flexitanks are often more cost-effective compared to traditional transportation methods such as drums or ISO tanks. They have lower initial investment costs, reduced labor requirements for loading and unloading, and offer potential savings on logistics and storage expenses during the forecast period and flexitanks can maximize the use of available cargo space in shipping containers, allowing for the transportation of larger volumes of liquids. This efficiency is particularly beneficial for industries with high transport volume requirements.
- Ease of Installation and Handling
Flexitanks are relatively easy to install, load, and unload, requiring minimal equipment and labor. This ease of handling contributes to their popularity in various industries. Flexitanks are relatively easy to install, and the process does not require specialized equipment or a high level of technical expertise. In most cases, a small team of workers can install a flexitank in a standard shipping container within a short amount of time. This simplicity reduces labor costs and minimizes the need for skilled personnel.
Opportunities
- Growing Demand for Bulk Liquid Transportation
The demand for cost-effective and efficient transportation of bulk liquids, such as food-grade products (for instance, edible oils, juices, wines), chemicals, and non-hazardous industrial liquids, continues to increase. Flexitanks offer a competitive advantage over traditional transport methods, such as drums or intermediate bulk containers (IBCs), in terms of cost savings and ease of use is expected to create immense opportunities for the growth rate of the market.
Restraints/Challenges
- Limited Reusability and Cargo Contamination
Although some flexitanks can be reused, their lifespan is limited compared to other types of containers, such as ISO tanks. Frequent replacement may lead to higher overall costs and care must be taken to prevent contamination of the cargo, especially when different liquids are transported in the same flexitank. Inadequate cleaning and inspection procedures between uses can lead to cross-contamination.
- Regulatory Compliance
Depending on the industry and application, there may be regulations and standards governing the use of graphite pellets. Compliance with these regulations is essential. The IMDG code governs the international transport of dangerous goods by sea. While flexitanks are generally used for non-hazardous liquids, it's essential to confirm that the cargo falls outside the scope of dangerous goods regulations. If hazardous materials are transported in flexitanks, additional regulations must be followed
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Flexitank Market Scope
The flexitank market is segmented on the basis of product, type, loading type, material and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Monolayer
- Bi-layer
- Multilayer
Type
- Single Use
- Reusable
Loading Type
- Top loading
- Bottom loading
Material
- High-density polyethylene (HDPE)
- Low-density polyethylene (LDPE)
- Linear low-density polyethylene (LLDPE)
Application
- Food Grade Liquids
- Non-Hazardous Chemicals
- Industrial Liquids
- Agricultural Liquids
- Others
Global Flexitank Market Regional Analysis/Insights
The flexitank market is analyzed and market size, volume information is provided by product, type, loading type, material and application as referenced above.
The countries covered in the flexitank market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the flexitank market as the region is the rapid industrialization and increasing commodity exports from many countries such as Thailand, Malaysia, Indonesia, India, China and Vietnam within the region in the above-mentioned forecast period. North America on the other hand, will continue to however show lucrative growth within the forecast period owing to the increasing transportation activities from food and beverage, pharmaceutical, and other sectors, and presence of prominent players operating in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data. .
Competitive Landscape and Global Flexitank Market analysis
The flexitank market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company's focus related to flexitank market.
Some of the major players operating in the flexitank market are:
- Bulk Liquid Solutions (Bangalore)
- SIA FLEXITANKS (Ireland)
- Qingdao LAF Packaging Co., Ltd. (China)
- Hengxin Plastic Co.,Ltd.(China)
- Qingdao Global Flexitank Logistics (China)
- TRUST Flexitanks (Spain)
- Rishi FIBC Solutions PVT. Ltd. (Vadodara)
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