Stratview Research delivers key insights into the global Flexitank Market. According to Stratview Research, the market is segmented by Tank Type (Monolayer, Multilayer), by Loading Type (Top Loading, Bottom Loading), by Application Type (Food Grade Liquids, Non-hazardous Chemicals, and Pharmaceutical Liquids), and by Region (NA, Europe, APAC, ROW).

Market Insights

The report suggests that the overall flexitank market was estimated at USD 807.95 million in 2022 and is likely to witness a CAGR of 18.75% during 2023-2028 to reach USD 2292.16 million in 2028.

What is flexitank?

Flexitank is used for the storage and transportation of non-hazardous liquids such as water, fruit juice, food-grade lubricants, wine, edible oil, latex, and additives. It reduces packaging storage and transportation cost due to its low unit cost and the convenience of positioning, speed of loading, and efficient use of loading weights.

Market Dynamics

The prime factor contributing to the demand for flexitank is the rise in the trade of food-grade and pharma-grade liquids and non-hazardous chemicals. Competitive advantages over traditional tanks are also driving the flexitank market.

Market Segments' Analysis

Based on the tank type, the market is segmented as monolayer and multilayer. Multilayer dominated the market in 2022 and is expected to register a higher CAGR during the forecast period. Higher durability and strength over monolayer flexitank and the ability to resist contamination and moisture barriers are the prime reason for the dominance of the segment.

Based on the loading type, the market is segmented as top loading and bottom loading. The top loading segment dominated the market in 2022; however, bottom loading is expected to register a higher CAGR during the forecast period. Bottom loading flexitank uses a single valve for loading and unloading and hence, minimizes labor cost and loading & unloading time as compared to top load.

Based on the application type, the market is segmented as food-grade liquids, non-hazardous chemicals, and pharmaceutical liquids. Food-grade liquids dominated the market in 2022 and are expected to grow at a healthy CAGR during the forecast period. Food-grade liquids are traded in bulk quantities across the regions. Asia-Pacific is the largest exporter of apple juice and edible oils. Wine, fruit juice, and fruit concentrates are exported from North America and South America.

In terms of regions, Asia-Pacific is estimated to remain the largest and the fastest-growing market during the forecast period as the region is the largest producer of food-grade liquid and pharmaceuticals. The region also has the largest middle-class consumers of these products. China dominated the region’s flexitank market in 2022.

Key Players

The following are some of the key players in the Flexitank Market:

• Braid Logistics

• Bulk Liquid Solutions

• Environmental Packaging Technologies

• Hengxin Plastic

• Qingdao Global Flexitank Logistics

• Qingdao Laf Packaging

• Rishi FIBC

• SIA Flexitanks

• Trans Ocean Bulk Logistics

• Trust Flexitanks

• others.

FREQUENTLY ASKED QUESTIONS

The report answers several questions related to the market. The user can get to know the answers to the following questions…

-        What is the global demand for Flexitank Market in terms of revenue?

-        Which are the prominent players in the market?

-        At what CAGR is the market projected to grow within the forecast period?

-        What are the driving factors fuelling the growth of the market?

-        Which region accounted for the largest share in the market?

-        How did the Covid19 impacted the market?

-        How long will it take to recover from the Covid impact?

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