Flexitanks Market Outlook
According to the report by Expert Market Research (EMR), the Global Flexitanks Market Size is projected to grow at a CAGR of 14% between 2023 and 2028. Aided by the increasing demand for efficient bulk liquid transportation and the growing applications of flexitanks in various industries, the market is expected to grow significantly by 2028.
Flexitanks are large flexible containers used for the bulk transportation of non-hazardous liquids. They are commonly deployed inside standard 20-foot shipping containers and have increasingly become an effective alternative to conventional liquid transport methods such as drums, IBCs, and ISO tanks. Flexitanks offer numerous advantages such as cost-effectiveness, high payload capacity, ease of use, and lower environmental impact, making them a valuable resource in various industrial applications, including food and beverage, chemicals, and pharmaceuticals.
The rising demand for efficient and cost-effective bulk liquid transportation solutions is a significant driver propelling the global flexitanks market growth. With the expanding global trade of liquid commodities, there has been a notable shift towards using flexitanks due to their operational and economic advantages, leading to a surge in demand for flexitank-based solutions. Additionally, the increasing focus on environmental sustainability has further contributed to the growing popularity of flexitanks, as they result in less packaging waste and lower carbon emissions compared to their alternatives.
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The burgeoning applications of flexitanks in various sectors also play a pivotal role in fuelling the flexitanks market development. For instance, in the food and beverage industry, flexitanks are used for the transportation of edible oils, wines, fruit juices, and other liquid food products. The chemical industry utilises flexitanks for the transportation of non-hazardous chemicals such as lubricants, latex, and emulsions. Moreover, in the pharmaceutical industry, flexitanks are employed for the transport of glycerine, enzymes, and other liquid pharmaceutical ingredients.
The rise in international trade, especially in emerging economies, and the increasing demand for oil and chemicals globally, are further driving the adoption of flexitanks. Furthermore, the development of innovative flexitank designs and materials, such as the introduction of multi-layered and recyclable flexitanks, has optimised the performance and environmental sustainability of flexitanks, thereby bolstering the flexitanks market expansion.
Flexitanks Market Segmentation
The market can be divided based on product, application, and region.
Market Breakup by Product
- Single-trip
- Multi-trip
Market Breakup by Application
- Foodstuffs
- Wine and Spirits
- Chemicals
- Oils
- Industrial Products
- Pharmaceutical Goods
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global flexitanks companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Braid Logistics Group
- Bulk Liquid Solutions (P) Ltd.
- Büscherhoff Packaging Solutions GmbH
- Qingdao LAF Packing Co., Ltd.
- SIA Flexitanks Ltd.
- MY Flexitank Industries Sdn Bhd,
- Others
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