Flexitanks Market
Flexitanks Market Study by Single Trip and Multi Trip for Food, Wine & Spirits, Oils, Chemicals, Industrial Products, and Pharmaceutical Goods from 2023 to 2033
Analysis of Flexitanks Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Flexitanks Market Outlook (2023 to 2033)
The global flexitanks market size reached US$ 964.37 million in 2022, according to the latest market study by Fact.MR, recording a CAGR of 14.1% from 2018 to 2022. Worldwide sales of flexitanks are predicted to rise swiftly at a CAGR of 12.7% and reach a market value of US$ 3.59 billion by 2033.
Flexitanks, also known as flexibags, are frequently used to transport goods such as juices, wines, non-hazardous chemicals, and other products across international borders. They are constructed of many layers of polyethylene and a top layer of woven polypropylene. They are excellent for transporting big amounts of goods, including industrial liquids, agricultural liquids, non-hazardous chemicals, and food-grade liquids.
The main factors driving the market growth rate are the rising demand for wine around the world and its highly competitive advantages over other products. Portable setups and government attempts to adopt green logistic practices are expected to pave the way for market growth. Increased international trade in pharmaceutical, non-hazardous chemical, and liquid food-grade products is further anticipated to moderate market expansion.
Flexitank's competitive advantages over conventional alternatives such as ISO containers, drums, barrels, and IBCs are anticipated to fuel their demand over the coming years. The market is growing due to the expansion of the global beverage export business. Thus, flexitanks are in high demand since businesses consider them a great solution for cutting transportation costs.
- In January 2020, VTG Tanktainer GmbH announced the addition of flexitanks to its array of equipment for the transportation of liquid commodities for providing its customers with practical transportation options.
Report Attributes | Details |
---|---|
Flexitanks Market Size (2022) |
US$ 964.37 Million |
Estimated Market Value (2023) |
US$ 1.08 Billion |
Forecasted Market Value (2033) |
US$ 3.59 Billion |
Global Market Growth Rate (2023 to 2033) |
12.7% CAGR |
Germany Market Value (2033) |
US$ 355.66 Million |
Germany Market Growth Rate (2023 to 2033) |
13.3% CAGR |
Japan Market Value (2033) |
US$ 255.07 Million |
Japan Market Growth Rate (2023 to 2033) |
13% CAGR |
Key Companies Profiled |
|
Don't Need a Global Report?
save 40%! on Country & Region specific reports
Which Aspects are Stimulating the Demand for Flexitanks?
"Increasing Global Population, Food Consumption, and Environmental Consciousness"
Expanding global population, rising food consumption, and shrinking arable land area are contributing to the significant rise in international trade. This is one of the key elements supporting the flexitanks market expansion. In addition, major players are working with other businesses to build flexitanks from recycled and renewable materials in response to growing environmental concerns.
Market growth is supported by the expanding oil and gas sector and the rising water demand from the industrial and commercial sectors. Flexitanks are increasingly being used to increase fuel efficiency, which affects the market's expansion. Additionally, the market is being driven by the increasing poly water tank use and initiatives to replace worn-out chemical storage tanks.
To improve the yielding strength and durability of these items for safe transportation, key players are also funding projects and R&D activities. In combination with the rising demand for imported alcoholic beverages, this is expected to spur market expansion over the years to come.
"Rising Consumer Awareness and Government Regulations”
Rising demand for flexitanks is characterized by a rise in green logistics as a result of stricter government regulations brought on by escalating environmental issues over the forecasted period. Advantages of flexitanks are more widely known to consumers, which is expected to spur market growth over the forecast period.
The product's expanding use is due to the advantageous properties of the manufacturing material. The tight usage guidelines for this product, developed by organizations such as the Container Owners Association (COA) guarantee its safety, leading to a greater level of global adoption.
Shippers can carry bulk liquid goods more affordably and safely by installing flexitanks in an ocean container. Flexitanks are a flexible, adaptable, safe, and economical choice for transporting bulk liquids.
What Can Restrain Market Growth to Some Extent?
"Challenges in Flexitanks Regarding Safety Concerns and Price Volatility”
Strict regulations established by governing bodies of multiple countries for the transport of pharmaceutical items, non-hazardous chemicals, and food-grade products are positively affecting the need for flexitanks to enable high-volume transportation at a lower cost.
Issues such as flexitank leakage or breakage can result in a complete loss for the shipper, which is expected to result in reduced use of products for shipment of unsafe liquids. The price volatility of plastic resins, the primary raw material used to create flexitanks, is also anticipated to present challenges for manufacturers.
“Limited Compatibility with Certain Liquids and Infrastructure Limitations”
Flexitanks may not be suitable for all types of liquids or commodities. Some substances may react with materials used in flexitanks, leading to compatibility issues or potential product contamination. This limitation could restrict the applicability of flexitanks across certain industries or product categories.
Flexitanks require appropriate infrastructure such as suitable loading and unloading facilities, transportation modes, and storage capabilities. In regions with inadequate infrastructure, the adoption and efficient utilization of flexitanks are limited, affecting market growth.
Country-wise Insights
What’s Driving the Sales Growth of Flexitanks in the United States?
"Higher Export and Cost Optimization of Canola Oil Boosting Sales of Flexitanks"
Demand for flexitanks in the United States is anticipated to reach a valuation of US$ 873 million by 2033, increasing at a noteworthy CAGR of 12.9% over the projected period.
The United States’ frequent export shipments as well as the growing need to reduce shipping costs are the main drivers of market growth in this region. It is projected that it would grow significantly over the coming years as a result of its increased production of canola oil abroad. The country is one of the top canola oil exporters.
The United States has a well-developed logistics and transportation infrastructure, making it an important market for flexitanks and transports bulk liquids, including food and beverage products, chemicals, oils, and industrial fluids. Flexitanks offer a versatile and economical option for shipping these commodities.
What are the Factors Contributing to Increasing Sales of Flexitanks in Germany?
"High Wine, Olive Oil, and Salmon Oil Exports"
The market in Germany is projected to reach US$ 355.66 million by 2033, expanding at a prolific CAGR of 13.3% through 2033.
Exportation of wine, olive oil, and salmon oil has a significant impact on the market demand. Germany is among the main exporting countries involved in the large-scale transportation of wine, crude oil, and vegetable oil. Big manufacturing capacities and the growing need to develop exporting operations are two of the key factors driving sales of flexitanks in the country.
Germany has strict quality and safety regulations for the transportation of liquid goods. Flexitank manufacturers and logistics providers in the country adhere to these standards, ensuring the integrity and protection of the transported liquids.
What is the Demand Forecast for Flexitanks in China and India?
"Country's Dominance in Bulk Liquid Shipping with Key Commodities and Production Facilities”
The market in China is anticipated to reach US$ 890.96 million by 2033, expanding at a noteworthy CAGR of 12.8% from 2023 to 2033.
India and China are involved in a significant quantity of bulk liquid shipping. Due to the existence of multiple companies around the world, the worldwide industry share is fragmented. The product is inexpensive to produce and uses relatively few raw materials.
China is the country with the highest output of production. The country exports more flexitanks and liners than any other country in the world. Due to lower costs and an advantageous regulatory environment, a majority of production facilities are located in China.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
Category-wise Insights
Which Type of Flexitank is Widely Preferred by Industries?
"Single Trip Flexitanks Enhancing Convenience, Efficiency, Hygiene, and Safety”
Use of single trip flexitanks is anticipated to rise at a CAGR of 13.1% during the forecast period. Single trip flexitanks refer to a type of flexitank that is designed for one-time use only. Unlike reusable flexitanks that can be used multiple times, single trip flexitanks are typically used for a single shipment and then disposed of or recycled.
They are pre-installed and ready for immediate use, eliminating the need for cleaning and maintenance after each shipment. This saves time and effort for shippers and reduces turnaround time between shipments.
With single trip flexitanks, there is no risk of contamination from previous cargo, as each flexitank is used only once. This ensures higher hygiene standards, especially for sensitive or food-grade liquids, and reduces the potential for cross-contamination.
Where is the Use of Flexitanks High?
"Substantial Transportation of Food-grade Material for Safeguarding Quality"
Demand for flexitanks in food transportation is expected to advance at a CAGR of 12.5% over the forecast period.
Use of flexitanks has emerged as a popular and efficient solution for the transportation of liquid food products in bulk quantities. These specialized flexitanks are designed to meet specific requirements of the food industry, ensuring the safe and hygienic transport of various food products such as edible oils, juices, wines, syrups, and more.
Flexitanks for food are constructed using food-grade materials that comply with international safety and hygiene standards. The inner liner of the flexitank is typically made of a food-grade polyethylene (PE) or polypropylene (PP) material, which is non-toxic, odorless, and resistant to contamination. This ensures that the quality and integrity of food products are maintained throughout the transportation process.
Adoption of flexitanks for food is expected to grow as more companies are recognizing the benefits offered in terms of convenience, efficiency, hygiene, safety, and cost-effectiveness. However, it is crucial to adhere to industry regulations, ensuring proper handling and storage practices and conducting appropriate quality checks to maintain the integrity and safety of the transported food products.
Competitive Landscape
With several well-known market players, the flexitanks market is highly competitive. By using efficient manufacturing processes, manufacturers aim to boost production capacities. After mastering their current product lines, many are looking at prospects for new developments. Environmentally friendly packaging and delivery methods are being increasingly adopted by suppliers. Manufacturers are expected to derive profit from this trend by creating biodegradable or recyclable flexitanks that can address issues associated with single-use containers.
- Global Container Terminals (GCT) and Flexitank International established a partnership in 2022 to offer flexitanks to customers at GCT's terminals in Singapore and Hong Kong. This has made it simpler for customers to deliver and receive liquids using flexitanks.
- Tank Container International (TCI) introduced a new line of flexitanks in 2022 with the intention of using them in the food and beverage sector. These flexitanks are approved for use in the food and beverage sector and are composed of food-grade materials.
- On December 12, 2021, a collection of businesses, including Vast Solar, Solar Dynamics, CyD, Alia Energy Consulting, and Critical Engineering announced the creation of flexitanks to stop thermal leakage. The innovative design used in these tanks, which is adaptable to all tank sizes, addresses major problems in the CSP sector and avoids hot salt tank failure.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Key Segments of Flexitanks Industry Research
-
By Product Type :
- Single Trip
- Multi Trip
-
By Application :
- Food
- Wine & Spirits
- Oils
- Chemicals
- Industrial Products
- Pharmaceutical Goods
-
By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
- FAQs -
What is the present size of the flexitanks market?
The global flexitanks market is estimated at US$ 1.08 billion in 2023.
What is the anticipated growth rate of the global market?
The market is forecasted to expand at a CAGR of 12.7% between 2023 and 2033.
What is the projected sales value of flexitanks for 2033?
Worldwide sales of flexitanks are set to reach US$ 3.59 billion by 2033.
What is the anticipated demand outlook for flexitanks in the United States?
Demand for flexitanks in the United States is projected to rise at a CAGR of 12.9% through 2033.
What is the forecasted expansion rate of the flexitanks market in Germany?
The market in Germany is predicted to expand at a CAGR of 13.3% through 2033.