Flexitank Market Growth Analysis | 2023-2028

Market Insights

The flexitank market was estimated at USD 807.95 million in 2022 and is likely to grow at a CAGR of 18.75% during 2023-2028 to reach USD 2292.16 million in 2028.

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Market Dynamics

Introduction

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 costs due to its low unit cost and the convenience of positioning, speed of loading, and efficient use of loading weights.

Market Drivers

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.

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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.

Note: The above list does not necessarily include all the top players in the market.

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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 reasons 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.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects flexitank market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• 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 15 detailed primary interviews with market players across the value chain in all four regions and 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 market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

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 flexitank 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)

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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.

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