BlueWeave Consulting, the Global Flexitank Market is poised to grow strong during the forecast period 2019-2025. Owing to increasing demand for global trade of beverages and competitive advantages of flexitanks compared to its traditional substitutes included ISO tanks and drums has triggered the need for flexitanks. Flexitanks are bags made up of polymer material like polyethylene, polypropylene, etc. designed to carry and transport large quantities of liquids. Rising demand for flexitanks across the globe mainly driven by the economic benefits of flexitanks such as environment-friendly nature, the requirement of lesser time and efforts in filling and discharging tanks.
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Compatibility with a large number of industrially viable fluids along with reducing risk of cross-contamination of liquids also has pushed the growth of flexitanks. On account of globalization, commodity trade augmented drastically in recent past owing to the growing availability of efficient means of transport. The industry is projected to experience significant growth due to a high need for flexible, efficient storage and portability of liquids. Moreover, characteristics like foldability, portability, ease of setting up and growing popularity of bulk transport are anticipated to fuel flexitank market over the forecast period.
In terms of application, the food-grade liquids segment accounted for the largest market share followed by chemical segment and is projected to dominate the global flexitank market throughout the forecast period. Flexitanks can utilize in the transportation of Food & Beverages like beer and wine, edible oils, food additives, glycerin, mineral water, fruit juice, vegetable oils, and other flowable food items. The growth in the global vegetable oil, beer, and fruit juice market is projected to influence the growth of the global flexitanks market.
The increasing demand from the food and beverage industry is likely to boost demand for such products. Flexitanks have become an extensively accepted solution for bulk wine transportation since the past decade. Flexitanks provide the cost advantage in terms of lesser cost incurred with amplified cargo transport capacity than the traditional modes of transportation.
Geographically, the flexitank market analyzed across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific is the leading region during the forecast timeline. The regional growth primarily driven by increasing positive demand from industries like food & beverage, pharmaceutical, and chemical. Countries like China, Hong Kong, Australia, Singapore, and New Zealand are among the top 15 exporters of wine. The presence of this huge wine exporting industry across the region is promising for the demand for flexitanks. The Netherlands, Denmark, and Spain are the major exporters of various foods like fruit juices, olive oil, and malt extracts. The growing industrial and chemical production in the UK and Germany has boosted the demand for flexitanks.
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Companies such as Braid Logistics, Bulk Liquid Solutions, Environmental Packaging Technologies, SIA Flexitanks, Trans Ocean Bulk Logistics, Qingdao Laf Packaging, Hengxin Plastic, Qingdao Global Flexitank Logistics, Trust Flexitanks, and Rishi FIBC are the leading players of flexitank market across the globe.