Flexitank Market Forecast (2024-2031)
The Flexitank Market is expected to register a CAGR of 20% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report presents analysis based on type (multilayer, monolayer, and bilayer). The report is segmented by application (food-grade liquids, nonhazardous chemicals/liquids, and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Flexitank Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Flexitank Market Segmentation
Type- Multilayer
- Monolayer
- Bilayer
- Food-Grade Liquids
- Nonhazardous Chemicals/Liquids
Strategic Insights
Flexitank Market Growth Drivers- Growing Demand for Flexitanks: Flexitanks are in high demand as a cost-effective means of shipping bulk liquids in an economically effective manner. The growing need for efficient cargo transportation of liquids is driving demand within the market. Food and beverage, chemicals, and pharmaceutical industries are utilizing flexitanks since they optimize space inside the containers.
- Streamlining Supply Chains: As international trade expands, companies will need some imaginative solutions to help streamline their supply chain processes. Flexitanks make it possible to move more liquid volumes in regular shipping containers. This efficiency saves shipping costs and contributes towards a reduction in environmental degradation, factors that might be part of the sustainability goals most organizations are trying for.
- User-Friendly and Flexible Solutions: In addition, flexitanks have cropped up as they are user-friendly and flexible. They are faster to assemble and result in less cleaning compared with traditional tankers. Flexibility at this fast-rate of the market is crucial in terms of both time and resources. Companies aim for efficiency in operations and hence continue to order these solutions.
- Advancements in Polymer Technology: Innovations in polymer technology, coupled with new breakthroughs in material science that could lead to a new age of more robust, lighter yet more reliable and durable material, have led consumers to enjoy greater safety and reliability associated with the flexitanks.
- Enhancements in Sealing and Anti-Leak Systems: New designs, including better sealing and anti-leak systems, are also adding to the growth of the market. These features avoid contamination and leakage, which have been the biggest source of concern for many manufacturers and logistics providers. Companies are now opting for safe and secure transportation methods, and technology up-gradations in such parameters are becoming more significantly essential to meet industrial standards.
- The Push for Eco-Friendly Materials: Furthermore, eco-friendly materials form a high-growth research area. With the focus on going green, manufacturers of flexitanks explore biodegradable or recyclable materials as they can reduce exposure to environmental damages and attract green-thinking companies to sustain an eco-friendly client base.
- Growth Opportunities in the Flexitanks Market: Expansion in other industries like chemical, pharmaceutical, and cosmetic present great avenues for growth for the flexitanks market, no longer restricted to the food and beverages sector, where most of its initial use was in the transport of liquid.
- Increasing Usage Flexitanks in the Chemical Industry: In the chemical industry, it has recently emerged as a common practice for the transportation of non-hazardous liquids in flexitanks, offering an economical alternative to traditional tanker options. Flexitanks are prefabricated large tubes, made out of flexible plastic/PVC material. It accommodates shipment in bulk while keeping the integrity of the product. Manufacturers who have a requirement for a very efficient logistics solution find it attractive. This would be a healthy trend for applications encompassing a much broader range of liquid cargo.
- Rising Demand in Pharmaceutics: Pharma also gains value in the use of flexitanks to transport large liquid volumes, which include vaccines and other medical supplies. Overlapping with flexitank use benefits such as the limitation of risks in contamination and ensuring product quality, comes the need for safe and reliable transportation methods. Acceptance of pharmaceuticals is growing with these current developments, doing well for demand in the future.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Flexitank Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Flexitank Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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.
Frequently Asked Questions
The Flexitank Market is estimated to witness a CAGR of 20% from 2023 to 2031
The growing demand for efficient liquid cargo transportation is driving the market growth.
Bornit; Bulk Liquid Transport; Büscherhoff Packaging Solutions GmbH; TRUST Flexitanks; Hillebrand; MY FlexiTank (MYF); Kricon Group; Qingdao LAF Packaging Co., Ltd.; Bulk Liquid Solutions; and Abrao Group are some of the key players operating in the flexitank market
Based on type, the multilayer segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the flexitank market as governments of various countries in Asia Pacific are concentrating on expanding exports, which is expected to provide lucrative opportunities to the market.
Technological advancements in flexitank materials and design is expected to be the key market trends.
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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