According to a recent survey conducted by ChemView Consulting, the Global Flexitank Market grew at a CAGR of 10.8% between 2017-2021 and is estimated to be US$ 512.7 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 12.9% and is expected to reach a valuation of US 1,725.1 Mn by 2032 end.
Increasing international trade, coupled with the aggressive advantages of flexitanks over their conventional substitutes, which includes ISO packing containers, drums, barrels, and IBCs, is anticipated to pressure the enterprise. Flexitanks have capacities starting from twelve thousand liters to twenty-six thousand liters. These are typically used for transport an in-depth variety of liquid merchandise, consisting of wines, fruit juices, concentrates, mineral water, fit for human consumption oils, tallow, malt extracts, lubricants, fertilizers, non-unsafe chemicals, and pharmaceuticals.
The U.S. has the presence of the world`s biggest pharmaceutical organizations consisting of Pfizer, Johnson & Johnson, Eli Lilly and Company, and Abbott Laboratories. These organizations decide on single-journey flexitanks for the transportation of temperature-touchy liquids, as a consequence ensuing in vast increase possibilities for the enterprise withinside the country.
Flexitanks are drastically cheaper than ISO packing containers and drums and deliver about 15% extra payload than IBCs and 44% extra than the drums, which makes them economically desired bulk packaging solutions. Moreover, they’re majorly used for single-use, which reduces the threat of contamination.
The developing want to lessen the burden of bulk packaging to growth the value-effectiveness of freight is projected to guide the marketplace increase. In addition, low hard work and logistic fees related to flexitanks handling, 0 cleansing value as a result of one-time use, and eco-friendliness are few different elements which might be probable to gas the product call for over the forecast years.
However, elements which includes leakage or breakage of the contents in flexitanks bring about general lack of the shipper, which might also additionally lessen the product utilization for the transportation of unsafe liquids, thereby restricting the increase. Moreover, fluctuating expenses of plastic resins, the uncooked cloth for production flexitanks, are anticipated to pose demanding situations to the manufacturers.
Usually, 1mm thick PE is included because the internal cloth in those merchandise to beautify the barrier homes of the package. Single-journey merchandise are best for the transportation of polymers, lubricating and transformer oils, surfactants, liquid malt, cement and creation additives, fit for human consumption oils, and forte chemicals. However, the section is anticipated to lose its percentage to the multi-journey product section as a result of growing call for for multi-journey flexitanks due to the excessive sustainability provided with the aid of using those merchandise.
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A list of some of the key suppliers present in the market are:
- SIA Flexitanks
- Trust Flexitanks
- Bulk Liquid Solutions
- Environmental Packaging Technologies
- Braid Logistics
- Flexitank Group
- Rishi FIBC
- Trans Ocean Bulk Logistics
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About ChemView Consulting:
ChemView Consulting is a leading market research firm in the Asia Pacific, with expertise in Chemicals & Materials, Food & Beverages, Packaging, Oil & Gas, New & Renewable Energy, and Disruptive Technologies. We are one of the top market intelligence firms specializing in business analytics with an expertise in the ever-growing chemicals industry. We track high-growth markets with innovative ideas and opportunities insights through B2B research.
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