Flexitank Market Opportunities 2031
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.
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.
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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.
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.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Flexitank Market - By Type
1.3.2 Flexitank Market - By Application
1.3.3 Flexitank Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. FLEXITANK MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. FLEXITANK MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. FLEXITANK MARKET - GLOBAL MARKET ANALYSIS
6.1. FLEXITANK - GLOBAL MARKET OVERVIEW
6.2. FLEXITANK - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. FLEXITANK MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. MULTILAYER
7.3.1. Overview
7.3.2. Multilayer Market Forecast and Analysis
7.4. MONOLAYER
7.4.1. Overview
7.4.2. Monolayer Market Forecast and Analysis
7.5. BILAYER
7.5.1. Overview
7.5.2. Bilayer Market Forecast and Analysis
8. FLEXITANK MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. FOOD-GRADE LIQUIDS
8.3.1. Overview
8.3.2. Food-Grade Liquids Market Forecast and Analysis
8.4. NON-HAZARDOUS CHEMICALS/LIQUIDS
8.4.1. Overview
8.4.2. Non-Hazardous Chemicals/Liquids Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. FLEXITANK MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Flexitank Market Overview
9.1.2 North America Flexitank Market Forecasts and Analysis
9.1.3 North America Flexitank Market Forecasts and Analysis - By Type
9.1.4 North America Flexitank Market Forecasts and Analysis - By Application
9.1.5 North America Flexitank Market Forecasts and Analysis - By Countries
9.1.5.1 United States Flexitank Market
9.1.5.1.1 United States Flexitank Market by Type
9.1.5.1.2 United States Flexitank Market by Application
9.1.5.2 Canada Flexitank Market
9.1.5.2.1 Canada Flexitank Market by Type
9.1.5.2.2 Canada Flexitank Market by Application
9.1.5.3 Mexico Flexitank Market
9.1.5.3.1 Mexico Flexitank Market by Type
9.1.5.3.2 Mexico Flexitank Market by Application
9.2. EUROPE
9.2.1 Europe Flexitank Market Overview
9.2.2 Europe Flexitank Market Forecasts and Analysis
9.2.3 Europe Flexitank Market Forecasts and Analysis - By Type
9.2.4 Europe Flexitank Market Forecasts and Analysis - By Application
9.2.5 Europe Flexitank Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Flexitank Market
9.2.5.1.1 Germany Flexitank Market by Type
9.2.5.1.2 Germany Flexitank Market by Application
9.2.5.2 France Flexitank Market
9.2.5.2.1 France Flexitank Market by Type
9.2.5.2.2 France Flexitank Market by Application
9.2.5.3 Italy Flexitank Market
9.2.5.3.1 Italy Flexitank Market by Type
9.2.5.3.2 Italy Flexitank Market by Application
9.2.5.4 United Kingdom Flexitank Market
9.2.5.4.1 United Kingdom Flexitank Market by Type
9.2.5.4.2 United Kingdom Flexitank Market by Application
9.2.5.5 Russia Flexitank Market
9.2.5.5.1 Russia Flexitank Market by Type
9.2.5.5.2 Russia Flexitank Market by Application
9.2.5.6 Rest of Europe Flexitank Market
9.2.5.6.1 Rest of Europe Flexitank Market by Type
9.2.5.6.2 Rest of Europe Flexitank Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Flexitank Market Overview
9.3.2 Asia-Pacific Flexitank Market Forecasts and Analysis
9.3.3 Asia-Pacific Flexitank Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Flexitank Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Flexitank Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Flexitank Market
9.3.5.1.1 Australia Flexitank Market by Type
9.3.5.1.2 Australia Flexitank Market by Application
9.3.5.2 China Flexitank Market
9.3.5.2.1 China Flexitank Market by Type
9.3.5.2.2 China Flexitank Market by Application
9.3.5.3 India Flexitank Market
9.3.5.3.1 India Flexitank Market by Type
9.3.5.3.2 India Flexitank Market by Application
9.3.5.4 Japan Flexitank Market
9.3.5.4.1 Japan Flexitank Market by Type
9.3.5.4.2 Japan Flexitank Market by Application
9.3.5.5 South Korea Flexitank Market
9.3.5.5.1 South Korea Flexitank Market by Type
9.3.5.5.2 South Korea Flexitank Market by Application
9.3.5.6 Rest of Asia-Pacific Flexitank Market
9.3.5.6.1 Rest of Asia-Pacific Flexitank Market by Type
9.3.5.6.2 Rest of Asia-Pacific Flexitank Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Flexitank Market Overview
9.4.2 Middle East and Africa Flexitank Market Forecasts and Analysis
9.4.3 Middle East and Africa Flexitank Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Flexitank Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Flexitank Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Flexitank Market
9.4.5.1.1 South Africa Flexitank Market by Type
9.4.5.1.2 South Africa Flexitank Market by Application
9.4.5.2 Saudi Arabia Flexitank Market
9.4.5.2.1 Saudi Arabia Flexitank Market by Type
9.4.5.2.2 Saudi Arabia Flexitank Market by Application
9.4.5.3 U.A.E Flexitank Market
9.4.5.3.1 U.A.E Flexitank Market by Type
9.4.5.3.2 U.A.E Flexitank Market by Application
9.4.5.4 Rest of Middle East and Africa Flexitank Market
9.4.5.4.1 Rest of Middle East and Africa Flexitank Market by Type
9.4.5.4.2 Rest of Middle East and Africa Flexitank Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Flexitank Market Overview
9.5.2 South and Central America Flexitank Market Forecasts and Analysis
9.5.3 South and Central America Flexitank Market Forecasts and Analysis - By Type
9.5.4 South and Central America Flexitank Market Forecasts and Analysis - By Application
9.5.5 South and Central America Flexitank Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Flexitank Market
9.5.5.1.1 Brazil Flexitank Market by Type
9.5.5.1.2 Brazil Flexitank Market by Application
9.5.5.2 Argentina Flexitank Market
9.5.5.2.1 Argentina Flexitank Market by Type
9.5.5.2.2 Argentina Flexitank Market by Application
9.5.5.3 Rest of South and Central America Flexitank Market
9.5.5.3.1 Rest of South and Central America Flexitank Market by Type
9.5.5.3.2 Rest of South and Central America Flexitank Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. FLEXITANK MARKET, KEY COMPANY PROFILES
11.1. SUN FLEXITANKS
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. BüSCHERHOFF PACKAGING SOLUTIONS GMBH
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. FULL-PAK
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. K TANK SUPPLY LTD.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. MAK AND WILLIAMS FLEXITANK SUPPLY LTD.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. MY FLEXITANK (MYF)
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. KRICON GROUP BV
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. QINGDAO LAF PACKAGING CO., LTD.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. YUNJET PLASTICS PACKAGING
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. ABRAO GROUP
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
- 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 performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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