As per the latest report by IMARC Group, titled “Flexitanks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global flexitanks market exhibited strong growth during 2015-2020. Flexitanks refer to bulk liquid storage units used to transport or store non-regulated liquids by simply placing them in a standard dry container. They are made using multiple layers of polyethylene with an outer covering of woven polypropylene and specialized coating requirements. These coatings aid in improving structural integrity, avoiding microbial contamination and maintaining tank cleanliness. Some of the products and base materials that can be shipped in flexitanks include biodiesel, shampoo and cosmetic liquids, detergents, industrial oils, latex, emulsion, paper pulps and adhesives. In recent years, flexitanks have gained immense traction across the globe as they are relatively a new and efficient way of storing liquids for various applications than traditional bulk tank containers. They also reduce the high cleaning costs and prevent spillage, leakage, damage and tainting of the vessel.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Flexitanks Market Trends:
The market is primarily driven by the rising demand for food-grade products, such as edible oil, fruit concentrates, beverages, and non-hazardous chemical transportation, due to their high efficiency and superior protection against contamination. Besides this, various advantages offered by flexitanks over other types of liquid containers like rigid plastic or steel tanks are also contributing to the market growth. These tanks are ideal for space-saving applications and provide the best capacity to weight ratio of any tank type. These tanks are also widely employed as they are cost-effective and safe for both the environment and the stored liquid. Furthermore, flexitanks are used by the military and defense sector as fuel storage in emergencies for quick access to fuel in field hospitals, airports, and during natural disasters. Moreover, there has been extensive investment in the research and development (R&D) projects to enhance the durability and yielding strength of these products for safe transportation. On account of these factors, the market is anticipated to expand at a CAGR of around 18% during 2021-2026.
- Based on the product, the market has been segmented into single- and multi-trips.
- On the basis of the application, the market has been categorized into food, wine and spirits, chemicals, oils, industrial products and pharmaceutical products.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, India, Japan, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Russia, Spain, and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Braid Logistics UK, Bulk Liquid Solutions (P) Ltd, Büscherhoff Packaging Solutions GmbH, Full-Pak, Hengxin Plastic Co. Ltd., JF Hillebrand GROUP AG, MY FlexiTank Industries Sdn Bhd, SIA Flexitanks Ltd., TRUST Flexitanks SL and Yunjet Plastic Packaging.
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