Global Flexitanks Market Report and Forecast 2024-2032

Global Flexitanks Market Outlook

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 Witnessing Increasing Demand Across Industries

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.

Global Flexitanks Market Share by Region

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.

Flexitanks Market Segmentation

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:

• Single-trip

• Multi-trip

On the basis of application, the market is divided into:

• Foodstuffs

• Wine and Spirits

• Chemicals

• Oils

• Industrial Products

• Pharmaceutical Goods

The regional markets for flexitanks include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Increasing Global Trade to Boost the Flexitanks Market Growth

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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Competitive Landscape

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:

• 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

• Rishi FIBC Solutions Pvt Ltd.

• Others

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.

Key Highlights of the Report