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Flexitank Market size is forecast to reach US$1.2 billion by 2027 after growing at a CAGR of 12.3% during the forecast period 2022-2027.

HYDERABAD, TELANAGANA, INDIA, October 28, 2022 /EINPresswire.com/ -- The flexitank market size is forecast to reach US$1.2 billion by 2027 after growing at a CAGR of 12.3% during the forecast period 2022-2027. Flexitanks or flexible tank containers are the best way to transport non-hazardous liquid cargo like chemicals and food items in bulk. Flexitank acts as an alternative to a tank container. It is a flexible, temporary, or permanent bulk liquid container storage solution that stores the product safely until it is discharged. Flexitank is defined as a hermetically sealed, collapsible, and flexible bladder which is fitted into a standard container. Flexitanks commonly used by the industry can hold up to a maximum of 24,000 liters of liquid cargo. It is made of numerous layers of polyethylene or polyvinyl chloride and a woven polypropylene outer covering. The increase in wine exports acts as a driver for the flexitank market.

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Key takeaways:

This IndustryARC report on the Flexitank market highlights the following areas -

1. Asia-Pacific dominates the flexitank market on account of chemical and food processing industries in the region. According to Invest India, India’s food processing sector is expected to reach US$535 billion by 2025-26.

2. Flexitanks or flexibags are flexible tank containers are an alternative to ISO tank containers for shipping non-hazardous chemicals.

3. According to the International Chemical Trade Association, the global chemical distribution industry accounts for an annual turnover of about €250 billion. Hence, shipping of chemicals is crucial as almost every industry ranging from pharmaceuticals and paints relies on chemicals to manufacture their end products.

4. The major opportunity for this market is high research spending to use bio-based polyolefins and design a flexitank that can safely transport all kinds of chemicals.

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Segmental Analysis:

1. The main advantage of the multilayer flexitanks is that each layer is very thin and flexible, making it very easy when the unloading is done to roll the empty flexitank to not waste any liquid. The multiple layers also protect the cargo from getting contaminated. The flexitank’s oxygen and moisture barrier properties are vital for the transportation of food-grade liquids. Therefore, the multi-layer segment is set to dominate the market.

2. The Asia-Pacific region held the largest share in the flexitank market in 2021 up to 45% owing to the food processing industry and agriculture in the region. Palm oil forms the largest cargo group within the vegetable oil sector. Indonesia and Malaysia account for 85% of global production.

3. The food segment held the largest share in the flexitank market up to 30% in 2021. Flexitanks are ideal for the safe storage and transport of food-grade liquids, such as milk, juices, wines, syrups, edible oils, etc. Flexitanks provide a more cost-effective and reliable alternative for the transport of food liquids via sea, rail, and land.

Competitive landscape:

The top 5 players in the Flexitank industry are:

1. SIA Flexitanks
2. Trust Flexitanks
3. Bulk Liquid Solutions
4. Environmental Packaging Technologies
5. Hillebrand

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