June 25, 2024

Flexitank Market Size To Rise USD 10.25 Billion By 2033

The global flexitank market size reached USD 1.40 billion in 2023 and is projected to grow around USD 10.25 billion by 2033, poised to grow at a CAGR of 22.10% from 2024 to 2033.

Flexitank Market Size 2024 To 2033

Key Takeaways

  • Asia-Pacific contributed more than 45.2% of market share in 2023.
  • North America is estimated to expand at the fastest CAGR between 2024 and 2033.
  • By product, the single-trip product segment generated over 94% of the market share in 2023.
  • By product, the multi-trip product segment is anticipated to grow at a remarkable CAGR of 23.4% between 2024 and 2033.
  • By application, the foodstuffs segment generated over 29% of market share in 2023.
  • By application, the oils segment is expected to expand at the fastest CAGR over the projected period.

The Flexitank market is witnessing robust growth as a result of increasing demand for cost-effective and efficient bulk liquid transportation solutions. A flexitank is a flexible, collapsible container made of various polymers that is designed to carry non-hazardous liquids in standard 20-foot containers. This innovative packaging solution has gained popularity across industries such as food and beverages, pharmaceuticals, and chemicals due to its ability to optimize shipping costs, reduce environmental impact, and streamline logistics.

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Growth Factors

Several factors contribute to the growth of the Flexitank market. The rising global trade of liquid commodities, coupled with the need for more sustainable and economical shipping methods, has significantly boosted the adoption of flexitanks. Moreover, the flexibility offered by these containers in transporting a diverse range of liquids, including edible oils, chemicals, and non-hazardous pharmaceuticals, further accelerates market expansion. The shift towards bulk transportation and the continuous development of advanced flexitank technologies are additional drivers fueling market growth.

Flexitank Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 22.10%
Market Size in 2023 USD 1.40 Billion
Market Size by 2033 USD 10.25 Billion
Largest Market Asia Pacific
Base Year 2022
Forecast Period 2024 to 2033
Segments Covered By Product and By Application
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Read More: Metal Casting Market Size Will be USD 378.42 Billion By 2033

Flexitank Market Dynamics

Divers:

The Flexitank market exhibits diversification in terms of applications across various industries. While the food and beverage sector prominently utilizes flexitanks for transporting edible oils and beverages, the chemical industry leverages them for the shipment of non-hazardous chemicals. Pharmaceutical companies also find value in using flexitanks for the safe transport of liquid pharmaceutical products. This diversification contributes to the resilience and versatility of the market.

Opportunities:

The market presents opportunities for innovation and technological advancements in flexitank design and materials. As the demand for sustainable and eco-friendly packaging solutions continues to rise, there is a significant opportunity for manufacturers to develop bio-based and recyclable materials for flexitanks. Additionally, expanding market penetration in emerging economies and untapped industries offers growth prospects for businesses in the flexitank sector.

Challenges:

Despite its positive trajectory, the Flexitank market faces challenges, including regulatory hurdles related to the transportation of specific liquids, especially in the pharmaceutical and chemical sectors. Ensuring compliance with international shipping regulations and addressing concerns about the potential for contamination or leakage during transit are critical challenges. Additionally, the perception of flexitanks as single-use items may pose environmental sustainability challenges that the industry needs to address.

Region Snapshot

The Flexitank market demonstrates geographical diversity, with significant growth observed in regions with active trade and industrial activities. Asia-Pacific, driven by the expansion of manufacturing and trade in countries like China and India, stands out as a key region for flexitank market growth. North America and Europe also contribute substantially, with a focus on sustainable logistics solutions. As the market matures, opportunities in South America and Africa are emerging, presenting potential avenues for expansion in the coming years. The regional dynamics highlight the global nature of the flexitank market.

Reasons to Purchase this Report:

  • Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
  • In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
  • Market size in USD million and volume in million units provided for each segment and sub-segment.
  • Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
  • Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.

Recent Developments

  • In 2022, Global Container Terminals (GCT) and Flexitank International joined forces, establishing a partnership to offer flexitanks at GCT’s terminals in Singapore and Hong Kong.
  • Tank Container International (TCI) also made significant strides in 2022 by introducing a new line of flexitanks explicitly designed for use in the food and beverage sector.
  • In a collaborative effort announced on December 12, 2021, several businesses, including Vast Solar, Solar Dynamics, CyD, Alia Energy Consulting, and Critical Engineering, unveiled a breakthrough in flexitank technology.
  • In August 2023, the Flexitank Association, a prominent global trade association representing the flexitank industry, unveiled a groundbreaking initiative by introducing a new certification program.

Flexitank Market Companies

  • Environmental Packaging Technologies, Inc.
  • Qingdao LAF Packaging Co., Ltd.
  • BLT Flexitank Industrial Co., Ltd.
  • SIA Flexitanks
  • Trans Ocean Bulk Logistics
  • Qingdao Global Flexitank Logistics Co., Ltd.
  • Bulk Liquid Solutions
  • Trust Flexitanks
  • Braid Logistics
  • Hengxin Plastic Flexitank Manufacturing Co., Ltd.
  • Rishi FIBC Solutions Pvt. Ltd.
  • KriCon Group BV
  • MY FlexiTank
  • KAG Logistics
  • BeFlexi

Segments Covered in the Report

By Product

  • Single trip
  • Multi-trip

By Application

  • Foodstuffs
  • Wine & Spirits
  • Chemicals
  • Oils
  • Industrial Products
  • Pharmaceutical Goods

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology (Premium Insights)

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Flexitank Market 

5.1. COVID-19 Landscape: Flexitank Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Flexitank Market, By Product

8.1. Flexitank Market Revenue and Volume, by Product, 2023-2032

8.1.1. Single trip

8.1.1.1. Market Revenue and Volume Forecast (2020-2032)

8.1.2. Multi-trip

8.1.2.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 9. Global Flexitank Market, By Application

9.1. Flexitank Market Revenue and Volume, by Application, 2023-2032

9.1.1. Foodstuffs

9.1.1.1. Market Revenue and Volume Forecast (2020-2032)

9.1.2. Wine & Spirits

9.1.2.1. Market Revenue and Volume Forecast (2020-2032)

9.1.3. Chemicals

9.1.3.1. Market Revenue and Volume Forecast (2020-2032)

9.1.4. Oils

9.1.4.1. Market Revenue and Volume Forecast (2020-2032)

9.1.5. Industrial Products

9.1.5.1. Market Revenue and Volume Forecast (2020-2032)

9.1.6. Pharmaceutical Goods

9.1.6.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 10. Global Flexitank Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.1.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.1.3. U.S.

10.1.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.1.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.1.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.2. Europe

10.2.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.2.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.2.3. UK

10.2.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.2.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.2.4. Germany

10.2.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.2.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.2.5. France

10.2.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.2.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.2.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.3. APAC

10.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.3.3. India

10.3.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.3.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.3.4. China

10.3.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.3.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.3.5. Japan

10.3.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.3.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.3.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.4. MEA

10.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.4.3. GCC

10.4.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.4.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.4.4. North Africa

10.4.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.4.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.4.5. South Africa

10.4.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.4.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.4.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.5. Latin America

10.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.5.3. Brazil

10.5.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.5.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)

10.5.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)

Chapter 11. Company Profiles

11.1. Environmental Packaging Technologies, Inc.

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. Qingdao LAF Packaging Co., Ltd.

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. BLT Flexitank Industrial Co., Ltd.

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. SIA Flexitanks

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. Trans Ocean Bulk Logistics

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. Qingdao Global Flexitank Logistics Co., Ltd.

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. Bulk Liquid Solutions

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. Trust Flexitanks

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. Braid Logistics

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. Hengxin Plastic Flexitank Manufacturing Co., Ltd.

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

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