Flexitank Market Industry Leaders & New Revenue Pockets

Flexitank Market Industry Leaders :

The market size of flexitanks is estimated at USD 366 million in 2018 and is projected to reach USD 912 million by 2023, at a CAGR of 20.0% between 2018 and 2023. Flexitank is an ideal solution for transportation of bulk liquids such as food-grade liquids and non-hazardous liquids. Flexitank has economic benefits, which saves 50% on packaging cost and can carry 30.0% more load than drums and 10.0% more load than ISO tanks. These benefits are likely to drive the demand for flexitanks during the forecast period. 

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The key players in the flexitank market include Braid Logistics (Scotland), Bulk Liquid Solutions (India), Environmental Packaging Technologies (US), SIA Flexitanks (Ireland), Trans Ocean Bulk Logistics (US), Qingdao LAF Packaging (China), Hengxin Plastic (China), Qingdao Global Flexitank Logistics (China), Trust Flexitanks (Spain), and Rishi FIBC (India). The flexitank market report analyzes the key growth strategies adopted by the leading market players, between 2015 and 2018, which includes expansion and new product launch.

Braid Logistics is among the key players in the flexitanks market, which has adopted organic strategies, such as expansion and new product launch. In 2018, the company expanded its global network in APAC with the establishment of Braid Japan Co., Ltd. (Japan). This expansion will allow the company to cater to the Japanese export market and expand its footprints across the market in APAC. In 2016, it launched Braid Agis-tank, which is ideal for liquids with high solid contents such as pepper mesh, fruit pulp, grape mash, olives, and fish slurries.

    

Environmental Packaging Technologies is one of the leading manufacturers of flexitanks. This company also adopted organic strategies, such as expansion and new product launch. In 2017, the company launched new flexitank under brand name LIQUIRIDE, especially for refrigerated shipping containers. The company will benefit from this new line of flexitanks, which focuses on applications requiring temperature-control transportation of fresh juices and concentrates. In the same year, it doubled its production capacity of flexitanks at its Michigan, US plant. This development is in response to the increasing demand for flexitanks in North America.

Flexitank Market Industry New Revenue Pockets :

The flexitank market is projected to grow from USD 366 million in 2018 to USD 912 million by 2023, at a CAGR 20.0%. The growth in the global trade of beverages such as wine, juice, and juice concentrates is expected to drive the demand for flexitanks. Competitive advantages of flexitanks compared to their alternatives such as barrels, IBCs, ISO tanks, and drums are expected to boost the market growth. It saves 50.0% on packaging cost and carries 30.0% more load than drums and 10.0% more than ISO tanks. It is a very cheaper alternative than ISO tank and drums. Currently, efforts are being taken to develop flexitanks which are suitable for transportation in a refrigerated container which can transport temperature-controlled liquids.

There are two types of flexitanks available in the global market, namely, monolayer and multilayer. The multilayer segment accounted for the higher market share and is projected to be the faster-growing segment. It has high demand owing to its superior performance for food-grade liquid transportation. Multilayer flexitanks come with oxygen barrier films and a number of PE layers which protect food-grade liquid cargo from contamination. The market can also be segmented into top loading and bottom loading flexitanks. Bottom loading flexitanks are expected to dominate the market with the largest market share and the fastest-growing segment. 

Based on application, the flexitank market is segmented into food-grade liquids, non-hazardous chemicals/liquids, and pharmaceutical liquids. The food-grade liquids application is the largest and projected to be the fastest-growing segment of flexitanks owing to the growing adoption in transportation. Another major consumer of flexitanks is non-hazardous chemicals, production of which is growing across the US, Europe, and the Middle East & Africa which is expected to create demand for flexitanks. 

The flexitanks market in APAC is projected to register the highest CAGR between 2018 and 2023, and the region is expected to maintain dominance during the forecast period in the flexitank market. APAC is the largest exporter of food-grade liquids such as edible oil, apple juice, latex, and chemicals. India is projected to be one of the high-growth markets in APAC. Growth in the production of palm oil and latex across Malaysia, Indonesia, and Thailand is expected to create demand for flexitanks. The production of apple juice, edible oils, and pharmaceutical products across China and India is expected to register the growth during the forecast period, which is favorable for the growth of the flexitanks market in APAC.