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The global flexitanks market size attained a value of approximately USD 1146.65 million in 2023. The market is further expected to grow at a CAGR of around 20.7% in the forecast period of 2024-2032, reaching a value of around USD 6,234.36 million by 2032.
Amidst growing environmental concerns, leading players in the flexitanks global market are developing flexitanks from recycled and renewable materials and investing towards research and development to improve the yielding strength and durability of flexitanks further. Rising costs of fuel and increased demand for international shipping of various products are surging the demand for lightweight and secure bulk packaging options, driving the growth of the global flexitanks market. Additional factors that are likely to boost the demand for flexitanks in the upcoming years include low labour and logistic costs involved in handling, zero cleaning costs in one-time use flexitanks, versatile applications, and eco-friendliness.
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Multi-trip flexitanks are gaining significant traction across various industries owing to the cost-effectiveness and efficiency offered by these flexitanks. As multi-trip flexitanks can be reused numerous times compared to single-trip products, they are considered more sustainable and cost-effective. In addition to this, multi-trip flexitanks are extremely durable and strong, which leads to enhanced safety of liquid contents during transportation and storage. Hence, these advantages are anticipated to propel the growth of this segment in the forecast period.
The Asia Pacific accounts for a sizable share of the market for flexitanks, driven by the expansion of major end use industries such as chemicals, oils, and pharmaceuticals, among others. The growing efforts to reduce the weight of bulk packaging in order to improve the transportation of temperature-sensitive or hazardous liquids are likely to provide impetus to the market growth in the region. Furthermore, stringent government regulations in countries like China and Japan, to promote eco-friendly transportation and packaging solutions, are expected to aid the growth of the market for flexitanks in the Asia Pacific.
A flexitank is a collapsible container/bag which is kept in another dry container. The concept of flexitank was developed during the second world war in order to ship diesel or fuel. The tank can carry liquids and offer secure storage to liquid cargo in bulk. The capacity of flexitanks can exceed up to 24,000 litres of liquid.
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Based on product, the market is bifurcated into:
On the basis of application, the market is divided into:
The regional markets for flexitanks include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The rising application of flexitanks for shipping a range of liquid products, such as wines, juices, edible oils, fertilisers, pharmaceuticals, and non-hazardous chemicals, among others, is one of the key trends driving the market. The market for flexitanks is supported by factors like growing global trade, rapid urbanisation, and the competitive benefits offered by flexitanks over their traditional substitutes. In addition to this, the rising demand from the food and beverages industry, which is being driven by the increasing disposable incomes and changing lifestyles, is anticipated to propel the market growth of flexitanks in the forecast period. Moreover, the reduced labour and logistic costs associated with the handling and transportation of flexitanks and their eco-friendly nature is expected to further increase the flexitanks market demand in the coming years.
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The report gives a detailed analysis of the following key players in the global flexitanks market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global market for flexitanks attained a value of around USD 1146.65 million.
The market is estimated to grow at a CAGR of 20.70% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 6,234.36 million by 2032.
The major drivers of the market include growing global trade, thriving food and beverages sector, and expansion of major end use industries.
The key global flexitanks market trends include the shift from traditional shipping alternatives to flexitanks owing to their cost-effectiveness and sustainability and increasing guidelines regarding the shipment of food-grade products, pharmaceutical components, and non-hazardous chemicals.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant products in the market for flexitanks are single-trip and multi-trip.
The various applications of flexitanks in the market are foodstuffs, wine and spirits, chemicals, oils, industrial products, and pharmaceutical goods.
The major players in the market, according to the report, are Braid Logistics Group, Bulk Liquid Solutions (P) Ltd., Büscherhoff Packaging Solutions GmbH, Qingdao LAF Packing Co., Ltd., SIA Flexitanks Ltd., MY Flexitank Industries Sdn Bhd, Qingdao LET Flexitank Co., Ltd., LiquA Europe SLU, LSM S.A. (FLEXPACK), UWL Inc., FTS Container Packaging Co., Ltd., BeFlexi Ltd., Hinrich Industries, TIBA, S.L.U., TRUST Flexitanks, Flexitank Group, and Rishi FIBC Solutions Pvt Ltd., among others.
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Australia
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+61-448-061-727
India
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+91-858-608-1494
Philippines
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+63-287-899-028, +63-967-048-3306
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+44-753-713-2163
United States (Head Office)
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+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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