Logo
Thursday, 18 April 2024
Thursday, 09 Mar 2023 12:00 am

Flexitank Market is expected to reach US$ 2,285.2 million by 2028

Flexitank Market is estimated to register a CAGR of 20.6.% by 2028. Flexitank is cost-effective, eco-friendly, and lightweight, which is driving market growth

By The Insight Partners

Growing Transportation of Commodity Products Drives Flexitank Market Growth

According to our latest study on "Flexitank Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, and Geography," the market is expected to grow from US$ 753.6 million in 2022 to US$ 2,285.2 million by 2028; it is estimated to register a CAGR of 20.6% from 2022 to 2028.

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00006094 Source: The Insight Partners Analysis

A flexitank can transport bulk liquids such as culinary oils, some types of industrial oils, liquid latex, wines, juices, and other liquids, as well as powders. Also, several types of nonhazardous liquid can be carried with flexitanks. Flexitank is a disposable, soft, high-strength, lightweight plastic bladder used for bulk transportation of nonhazardous liquid products within a normal 20ft ISO shipping container. Flexitanks transport food-grade liquids and nonhazardous substances across the globe at considerably lower prices compared to other bulk liquid transportation options such as ISO tanks and Intermediate Bulk Containers (IBCs). Flexitank is defined as a collapsible, hermetically sealed, and flexible bladder which is fitted into a standard container. Flexitanks commonly used by the industry can hold up to a maximum of 24,000 liters of liquid cargo. It comprises numerous polyethylene or polyvinyl chloride layers and a woven polypropylene outer covering. The increase in wine exports acts as a driver for the flexitank market.

Based on type, the flexitank market is segmented into multilayer, monolayer, and bilayer. The market for the multilayer segment is expected to register the highest CAGR during the forecast period. Multilayer flexitanks generally comprise an outer layer of woven polypropylene and 4-5 layers of polyethylene. The primary advantage of the multilayer flexitanks is that each layer is significantly thin and flexible, making it easy to roll the empty flexitank while preventing the wastage of any liquid during the unloading. The multiple layers protect the cargo from getting contaminated. The moisture and oxygen barrier properties of flexitanks are vital for transporting food-grade liquids. Therefore, the multilayer segment is expected to dominate the market in the coming years.

Based on application, the flexitank market is segmented into food-grade liquids, nonhazardous chemicals/liquids, and others. The food-grade liquids segment is expected to register the highest CAGR during the forecast period. Flexitanks are ideal for safely storing and transporting food-grade liquids, such as milk, juices, syrups, wines, edible oils, etc. Flexitanks provide 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 transporting edible oils. Health-conscious consumers are buying olive oil compared to other edible oils due to its numerous benefits. According to the latest data from the International Olive Council (IOC), global olive oil production reached 3,010,000 tons in 2020/21. Spain and Greece and the largest olive oil-producing countries. According to preliminary estimates from the European Commission, olive oil production in the European Union is expected to reach 1.98 million tons in 2021/22. The final production and trade figures from the European Union for 2020/21 confirm a growing trend. According to the latest EU estimates, the international olive oil trade will not stop growing until at least 2030. As the demand for olive oil grows, the use of flexitanks for transportation will also increase as flexitanks are cheaper than other transportation methods. Therefore, the food segment is set to dominate the flexitank market during the forecast period.

In terms of revenue, Asia Pacific is expected to dominate the flexitank market. Governments of various countries in Asia Pacific are concentrating on expanding exports, which is expected to provide lucrative opportunities to the market. The market in North America is expected to expand owing to substantial exports of fruit juices and syrups to Asia Pacific and European countries. In addition, the transport of liquids via rail-based containers has grown significantly in North America, which is increasing the demand for flexitanks.

The increasing number of applications of flexitanks for shipping a wide range of liquid products, such as wines, juices, fertilizers, edible oils, nonhazardous chemicals, and pharmaceuticals, is driving the market growth. The flexitank market growth is attributed to several other factors such as rise in global trade, rapid urbanization, and competitive benefits of flexitanks over their traditional substitutes. In addition, the rising product demand in the food & beverages industry, driven by growing disposable incomes and changing lifestyles, is anticipated to fuel the flexitank market growth during the forecast period. Moreover, flexitanks are less expensive than ISO-certified drums and tanks. Hence, flexitank is an ideal alternative for lowering transportation expenses. Further, the reduced labor and logistic costs, along with the easy handling and transportation of liquids in flexitanks and their sustainable nature, are expected to aid the flexitank market growth in the coming years.

Bornit; Bulk Liquid Transport; Büscherhoff Packaging Solutions GmbH; TRUST Flexitanks; Hillebrand; MY FlexiTank (MYF); Kricon Group; Qingdao LAF Packaging Co., Ltd.; Bulk Liquid Solutions; and Abrao Group are among the major players operating in the global flexitank market. Market players are focusing on providing high-quality products to fulfill customer demand. Several other major companies were studied and analyzed during this research study to get a holistic view of the market and its ecosystem

Contact Us
Contact Us: The Insight Partners 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com


The Insight Partners :    https://www.theinsightpartners.com

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.


Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
© The News and Media Division of The Insight Partners 2024 | All Rights Reserved | Privacy Policy