Flexitank Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

The flexitank market is expected to grow from US$ 753.6 million in 2022 to US$ 2,285.2 million by 2031; it is estimated to register a CAGR of 20.6.% from 2022 to 2031.

Flexitank is fundamentally an enormous-sized fluid container that is utilized for moving fluids from one place to another in a safe way. It is a liquid storage container made from a flexible material such as polyurethane. The number of layers of polyethylene is used to make flexitank. The external piece of the fluid container is covered with polypropylene. These layers contain a pump and valve, which make them waterproof and airproof. During the transportation of fluid items of large volume, flexitank is considered to be safe. Flexitanks are broadly used for the transportation of food-level items such as edible oil, natural product concentrates, refreshments, and non-dangerous compound transportation because of protection against pollution. As the sacks are dispensable, there is no cleaning cost when utilizing flexitanks.

MARKET DYNAMICS

Flexitanks are generally used for the transport of pharmaceutical liquids and food-grade liquid such as malts, consumable oil, and organic product concentrates refreshment. Several types of flexitanks are disposable, minimizing the associated cleaning costs of tank holders and barrels. This also reduces the risk of contamination. In addition, the time required for the installation and loading of flexitanks is less, which fuels the demand for flexitanks. Furthermore, flexibag disposal also increases the need for flexitanks. After the release of the flexibag, the linings and all auxiliary hardware is taken out from the holder and securely disposed or reused as concurred between the transporter and the recipient. Utilized flexibag material is not expected for reusing in flexibag manufacturing because of possible quality issues. The flexitank is cost-effective, eco-friendly, and lightweight, which is driving the flexitank market growth.

MARKET SCOPE

The “Global Flexitank Market Forecast to 2031” report aims to provide an overview of the flexitank market with detailed market segmentation based on type and application. The report provides key statistics based on the performance of the leading market players. It also offers key trends and opportunities in the flexitank market.

MARKET SEGMENTATION 

The global flexitank market is bifurcated on the basis of type and application. Based on type, the market is segmented into multilayer, monolayer, and bilayer. Based on application, the flexitank market is segmented into food-grade liquids, on-hazardous chemicals/liquids, and others.

REGIONAL FRAMEWORK

The global flexitank market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The report covers an analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in these regions.

Asia Pacific dominated the flexitank market in 2022. An increase in manufacturing activities and a significant rise in per capita disposable income are driving the flexitank market. Countries such as China, India, Vietnam, Malaysia, and Thailand are witnessing the expansion of the food & beverages, pharmaceutical, and chemical industries.

Thus, growing transportation demand from these industries is expected to drive the demand for flexitanks

The report analyzes factors, such as drivers, restraints, opportunities, and future trends, which impact the flexitank market. The report also provides exhaustive Porter's five forces analysis of the factors influencing the flexitank market in these regions. 

IMPACT OF COVID-19 PANDEMIC

The COVID-19 pandemic has had a mixed impact on the overall flexitank market. The imposition of the lockdown temporarily discontinued various manufacturing activities, resulting in a decrease in supply, which substantially impacted the flexitank market. However, increased demand for pharmaceutical liquids across the globe cushioned the flexitank market.

Due to the onset of the COVID-19 pandemic, disruptions in global supply chains hampered manufacturing activities in developing and developed countries such as China, India, Germany, and the US. As a result of such disruptions, cargo was backlogged at major container ports, travel restrictions led to a shortage of truck drivers to pick up containers, and ocean carriers canceled sailings. Further, the resulting shortage of components affected the manufacturing operations of major industries, including automotive, electronics, and consumer goods.

In 2021, the marketplace witnessed growth as governments of various countries announced the relaxation of several restrictions, including lockdowns. The manufacturers resumed their operations at full capacity, which helped them overcome the demand and supply gap. Many manufacturers expanded their production capacities to meet the rising consumer demand, which supported the recovery of the flexitank market. 

Flexitank Market Report Analysis

Flexitank Market

• 
  CAGR (2023 - 2031)

  20.60%
• Market Size 2023
  US$ 908.84 Million
• Market Size 2031
  US$ 4,066.93 Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• Bornit
• Bulk Liquid Transport
• Büscherhoff Packaging Solutions GmbH
• TRUST Flexitanks
• Hillebrand
• MY FlexiTank (MYF)
• Kricon Group
• Qingdao LAF Packaging Co., Ltd.
• Bulk Liquid Solutions

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Type

• Multilayer
• Monolayer
• Bilayer

By Application

• Food-Grade Liquids
• Non-Hazardous Chemicals/Liquids

MARKET PLAYERS

The report covers key developments in the flexitank market. Various companies are focusing on organic growth strategies, such as product launches, product approvals, patents, and events. In addition, acquisitions, and partnerships & collaborations are among the inorganic growth strategic activities witnessed in the market. These activities have encouraged the business expansion and customer base of market players. The players operating in the flexitank market are anticipated to experience lucrative growth opportunities in the coming years due to the rising demand for flexitanks.

The report includes the profiles of key companies operating in the flexitank market, along with their SWOT analysis and market strategies. It also focuses on leading industry players' information such as company profiles, components and services offered, financial information of the last three years, and key development in the past five years. A few of the key companies engaged in the flexitank market are mentioned below:

• Bornit
• Bulk Liquid Transport
• Büscherhoff Packaging Solutions GmbH
• TRUST Flexitanks
• Hillebrand
• MY FlexiTank (MYF)
• Kricon Group
• Qingdao LAF Packaging Co., Ltd.
• Bulk Liquid Solutions
• Abrao Group

The Insight Partners’ dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.

Flexitank Market Report Scope