Flexitank Market by Type, Loading Type, Application, and Region - Global Forecast to 2023

The flexitank market is estimated to be USD 366 million in 2018 and is projected to reach USD 912 million by 2023, at a CAGR of 20.0%. The majority of flexitanks are consumed in the food-grade liquids, non-hazardous chemicals, and pharmaceutical liquids applications. Increase in the demand for flexitanks around the globe is primarily driven because of the economic benefits of flexitanks.

These include environment-friendly nature, requirement of lesser time and efforts in filling and discharging these tanks, and compatibility with a large number of industrially viable fluids along with reducing risk of cross-contamination of liquids. These tanks are also less expensive as compared to ISO tanks and drums.

It saves around 50.0% on packaging cost and can transport 10.0% more cargo than ISO tanks and 30.0% more cargo than drums. Also, as they are single use bags, so there is no issue of its maintenance cost, whereas ISO tanks and drums require proper cleaning after each shipment. Thus, flexitanks are capturing a competitive edge over other alternatives which is favorable for its market growth.

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The foodgrade liquids segment dominates the flexitank market and is expected to register the highest CAGR during the forecast period. Growth in the adoption of flexitanks for food-grade liquids transportation is expected to drive the demand for flexitanks. Edible oils and apple juice are largely exported from the APAC region.

Orange juice, wine, and juice concentrates are exported in large quantity from North America, South America, and Europe. Compared to these, food grade liquids and non-hazardous chemicals are traded or exported in less quantity from Europe and North America. This scenario creates the demand for flexitanks from food-grade liquids application segment.

APAC is estimated to account for the largest share of the flexitanks market in 2018, owing to the growing production of edible oils, latex, pharmaceutical liquids across the region. APAC is the largest producer and exporter of palm oil and other edible oils.

Also, APAC countries such as Thailand, Malaysia, Indonesia, Myanmar, and Singapore are the largest producer and exporter of latex. Together these countries export more than 75.0% of latex. This scenario across the region is favorable for the growth of the flexitank market during the forecast period.

Extensive primary interviews were conducted in the process of determining and verifying sizes of several segments and sub-segments of the flexitank market gathered through secondary research.
The breakdown of primary interviews has been given below.
• By Company Type: Tier 1 – 46%, Tier 2 – 31%, and Tier 3 – 23%
• By Designation: C Level Executives – 31%, Director Level – 15%, Others – 54%
• By Region: North America – 15%, Europe – 23%, APAC – 39%, South America – 8%, Middle East & Africa — 15%

The key companies profiled in this report 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).

Reasons to Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
1. This report segments the flexitank market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.
2. This report is expected to help stakeholders understand the pulse of the flexitank market and provide information on key market drivers, restraints, challenges, and opportunities influencing the growth of the market.
3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the flexitank market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies such as new product launch and expansion.

TABLE OF CONTENTS

1 INTRODUCTION 13
1.1 OBJECTIVES OF THE STUDY 13
1.2 MARKET DEFINITION 13
1.3 MARKET SCOPE 14
1.3.1 MARKET SEGMENTATION 14
1.3.2 REGIONS COVERED 14
1.3.3 YEARS CONSIDERED FOR THE STUDY 15
1.4 CURRENCY 15
1.5 STAKEHOLDERS 15
2 RESEARCH METHODOLOGY 16
2.1 RESEARCH DATA 16
2.1.1 SECONDARY DATA 17
2.1.1.1 Key data from secondary sources 17
2.1.2 PRIMARY DATA 17
2.1.2.1 Key data from primary sources 18
2.1.2.2 Breakdown of primary interviews 19
2.2 MARKET SIZE ESTIMATION 19
2.2.1 TOP-DOWN APPROACH 19
2.2.2 BOTTOM-UP APPROACH 20
2.3 DATA TRIANGULATION 21
2.4 LIMITATIONS 22
2.5 ASSUMPTIONS 22
3 EXECUTIVE SUMMARY 23
4 PREMIUM INSIGHTS 26
4.1 ATTRACTIVE OPPORTUNITIES IN THE FLEXITANK MARKET 26
4.2 FLEXITANK MARKET, BY TYPE 26
4.3 FLEXITANK MARKET, BY LOADING TYPE 27
4.4 FLEXITANK MARKET, BY APPLICATION 27
4.5 APAC FLEXITANK MARKET, BY APPLICATION AND COUNTRY 28
4.6 FLEXITANK MARKET, BY KEY COUNTRIES 28

5 MARKET OVERVIEW 29
5.1 INTRODUCTION 29
5.2 MARKET DYNAMICS 29
5.2.1 DRIVERS 30
5.2.1.1 Increasing trade of wine globally 30
5.2.1.2 Competitive advantages over other alternatives 31
5.2.2 RESTRAINTS 31
5.2.2.1 Volatility in prices of raw materials to hamper the market growth 31
5.2.3 OPPORTUNITIES 32
5.2.3.1 Increase in commodity trade in BRICS nations 32
5.2.3.2 New configuration in flexitanks and bigger size of containers 32
5.2.4 CHALLENGES 32
5.2.4.1 Availability of low-quality flexitanks and containers 32
5.3 PORTER’S FIVE FORCES ANALYSIS 33
5.3.1 THREAT OF NEW ENTRANTS 34
5.3.2 THREAT OF SUBSTITUTES 34
5.3.3 BARGAINING POWER OF BUYERS 34
5.3.4 BARGAINING POWER OF SUPPLIERS 35
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 35
5.4 CERTIFICATION AND APPROVALS 36
5.4.1 LOADING REGULATIONS 36
5.5 MACROECONOMIC INDICATORS 37
5.5.1 INTRODUCTION 37
5.5.2 REAL GDP GROWTH RATE AND PER CAPITA GDP OF MAJOR ECONOMIES 37
5.5.3 GLOBAL WINE PRODUCTION 38

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Flexitank Market by Type, Loading Type, Application, and Region – Global Forecast to 2023

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