Global Flexitanks market was valued US$ 330 Mn in 2017 and is estimated to reach US$ 1085 mn by 2026 at a CAGR of about 14% during a forecast period.
The report segment of Flexitanks market based on type, product, application, material, and region. In terms of type, the Flexitanks market is classified into single-use, reusable. Based on product, the Flexitanks market is categorized into monolayer, bi-layer, and multilayer. On the basis of application, the Flexitanks market is divided into foodstuffs, wine & spirits, chemicals, oils. Based on material, the Flexitanks market is segmented into polyethylene, polypropylene. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
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Flexitanks are bags used to transport huge quantities of liquids up to 24,000 liters, in a 20- feet container. Increase in demand for flexible storages coupled with growing concerns regarding portability of liquids are the primary factors driving the industry growth. Flexitanks are cost-effective solutions as compared to ISO tanks & drums, owing to these factors, market players consider this as an essential alternative for saving transportation cost for non-hazardous liquids. No repositioning costs, low labor and loading costs are some of the factors which make this product an efficient option for bulk fluids to be transported to remote destinations. Increase in trend of bulk transport is estimated to foster the market over the forecast period. Chances of damage to the flexitanks material are high due to improper or careless handling during loading/unloading.
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Global Flexitanks market
Flexitanks market is segmented into type, product, application, material, and region. In terms of type, Single use flexitank was the most significant type segment which accounted for 954,037 units by volume in 2017. Most of the single use flexitanks are made from polyethylene as recycling and disposal of such products is easier. Single use flexitanks are available for all kinds of non-hazardous liquid and semi-solid commodities. Reusable bladders are mostly used to store and transport pesticides, irrigation water, fire water, and potable water. A higher initial cost of reusable flexitanks is the most prominent growth barrier in the segment.
Based on product, multilayer flexitanks have gained an important portion of the flexitanks market share in the past few years and the trend is likely to continue during the forecast period. On the basis of application, Foodstuffs application emerged as the dominating application segment followed by chemicals. Hazardous chemicals are not transported by flexitanks as the danger associated with the spillage of these chemicals is very high. Rising wine trade has triggered the need for flexitanks in the recent past, and a similar trend is anticipated to continue over the forecast period.
In terms of region, Asia Pacific is anticipated to be the fastest growing local market followed by Europe. The growing industrial and chemical production in the UK and Germany has driven the demand for flexitanks from chemicals and oils application segments. Being cost effective mode of transportation, flexitanks demand is anticipated to grow in all the regions.
Some of the key players in the flexitanks market are TransOcean Bulk Logistics Ltd, SIA Flexitanks Ltd., and Qingdao LAF Packaging Co. Ltd.
The scope of Flexitanks Market
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Flexitanks Market by Type
• Single Use
Flexitanks Market by Application
• Wine & Spirits
Flexitanks Market by Product
Flexitanks Market by Material
Flexitanks Market by Geography
• North America
• Middle East & Africa
• Latin America
Key Players operating in Flexitanks Market
• Trans Ocean Bulk Logistics Ltd
• SIA Flexitanks Ltd.
• Qingdao LAF Packaging Co. Ltd
• Environmental Packaging Technologies Inc.
• Bulk Liquid Solutions
• BLT Flexitank
• MY FlexiTank
• KriCon Group BV
• Mak & Williams
• Trust Flexitanks
• Braid Logistics UK
• Mak & Williams Flexitanks Supply Limited
• Rishi FIBC Solutions