Flexitank Market Growth Analysis | 2023-2028

Market Insights

The 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.

Want to know more about the market scope? Click Here

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.

Key Players

Some of the major players in the flexitank market are-

• 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.

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.

Want to have a closer look at this market report? Click Here

Segments Analysis

By Tank Type

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.

By Loading Type

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.

By Application Type

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.

Regional Insights

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.

Know the high-growth countries in this report. Register Here

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories.

By Tank Type

• Monolayer
• Multilayer

By Loading Type

• Top Loading
• Bottom Loading

By Application Type

• Food Grade Liquid
• Non-hazardous Chemicals
• Pharmaceuticals Liquid

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Register Here, to know the market segmentation details.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the tank types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.