Flexitank Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Flexitank Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Flexitank Market

The flexitank market size was valued at USD 676.65 million in 2023, and the market is now projected to grow from USD 757.63 million in 2024 to USD 1795.24 million by 2032, exhibiting a CAGR of 13.12% during the forecast period of 2024-2032.

Some of the markets experienced a reduction of constant demands from consumers while other markets looked forward to positive and moderate growth markets while some of the markets remained untouched. These complexes, in combination with others, have led to negative effects on the flexitank market growth during this period, primarily due to low customer demand and almost no trading happening in the world.

In a recent World Trade Organisation report, it was shown that manufactured goods exports were higher by 22% in 2021 after shrinking by 5% in 2020. This growth is however expected to continue given that a number of countries are leaning on the others for assorted commodities and this may also lead to the growth of flexitank market share.

Initially, such tanks were developed using rubber however plastics replaced it by early 1990s completely. Nevertheless, the belief that conventional plastics harm the environment, it has provoked the innovation of tanks from recyclable and renewable materials.

Comprehensive Analysis of Flexitank Market

The flexitank market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated by reusability, by layer, by loading type, & by application. The sub-categories under reusability include: single use, & reusable. However, the various layers include: monolayer, & multilayer. By loading type the market can be divided into: top, & bottom loading segment. By application it can be bifurcated into: food-grade liquids, pharmaceutical liquids, and non-hazardous liquids.

The Asia Pacific region leads the flexitank market by benefitting a market size of USD 251.78 million in 2023 due to the large number of food products, & chemical manufacturers in the region.

The top players in the market play a crucial role in the industry, assuring industrial prospectus growth and setting market standards. These players include: Infinity Logistics and Transport Venture Limited (Malaysia) TRUST Flexitanks (Spain) Sun Flexitanks (India) Bulk Liquid Solutions (India) United Accredited Company (UAC) (Saudi Arabia) ONE Flexitanks (Malaysia) Neoflex (Turkey) Wiefferink (Netherlands) Qingdao LAF Packaging Co., Ltd. (China) LiquA Europe SLU (Spain).

In June 2022, Mediterranean Shipping Company became one of the companies to provide in-house liquid cargo solutions by introducing flexibag for shipping liquid cargo.

Segmentation Table

Global Flexitank Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 13.12% from 2024-2032

Historical Period 2019-2022

Unit Value (USD Million)

Segmentation By Type, & By Industry

By Reusability Single use

Reusable

By Layer Monolayer

Multilayer

By Loading type Top Loading

Bottom Loading

By Application Food-Grade Liquids

- Alcoholic Beverages

- Edible Oils

- Juices

- Syrups

- Concentrates

- Others

Non-Hazardous Liquids

Pharmaceutical Liquids

By Region North America (By Reusability, Layer, Loading Type, Application, and Country)

- U.S. (By Application)

- Canada (By Application)

Europe (By Reusability, Layer, Loading Type, Application, and Country)

- U.K. (By Application)

- Germany (By Application)

- France (By Application)

- Spain (By Application)

- Russia (By Application)

- Italy (By Application)

- Poland (By Application)

- Romania (By Application)

- Rest of Europe (By Application)

Asia Pacific (By Reusability, Layer, Loading Type, Application, and Country)

- China (By Application)

- Japan (By Application)

- India (By Application)

- South Korea (By Application)

- Australia (By Application)

- Southeast Asia (By Application)

- Rest of Asia Pacific (By Application)

South America (By Reusability, Layer, Loading Type, Application, and Country)

- Brazil (By Application)

- Mexico (By Application)

- Argentina (By Application)

- Rest of South America (By Application)

Middle East & Africa (By Reusability, Layer, Loading Type, Application, and Country)

- Saudi Arabia (By Application)

- UAE (By Application)

- Oman (By Application)

- South Africa (By Application)

- Rest of Middle East & Africa (By Application)


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