Dublin, April 26, 2019 (GLOBE NEWSWIRE) -- The "Flexitank Market by Type (Monolayer and Multilayer), Loading Type (Bottom Loading and Top Loading), Application (Food-Grade Liquids, Non-Hazardous Chemicals/Liquids, and Pharmaceutical Liquids), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
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%.
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% on packaging cost and can transport 10% 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.
The flexitank market is diversified and competitive with a large number of global as well as regional and local players. The key players in this market are Braid Logistics (UK), Bulk Liquid Solutions (India), Environmental Packaging Technologies (US), SIA Flexitanks (Ireland), Trans-Ocean Bulk Logistics (US), Qingdao LAF Packaging (China), Hengxin Plastic (China), and Qingdao Global Flexitank Logistics (China).
The food-grade liquids application segment accounted for the largest market share.
The food-grade 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 the largest and projected to be the fastest-growing flexitank market.
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.
Key Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Top-Down Approach
2.2.2 Bottom-Up Approach
2.3 Data Triangulation
2.4 Limitations
2.5 Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Flexitank Market
4.2 Flexitank Market, By Type
4.3 Flexitank Market, By Loading Type
4.4 Flexitank Market, By Application
4.5 APAC Flexitank Market, By Application and Country
4.6 Flexitank Market, By Key Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Trade of Wine Globally
5.2.1.2 Competitive Advantages Over Other Alternatives
5.2.2 Restraints
5.2.2.1 Volatility in Prices of Raw Materials to Hamper the Market Growth
5.2.3 Opportunities
5.2.3.1 Increase in Commodity Trade in BRICS Nations
5.2.3.2 New Configuration in Flexitanks and Bigger Size of Containers
5.2.4 Challenges
5.2.4.1 Availability of Low-Quality Flexitanks and Containers
5.3 Porter's Five Forces Analysis
5.4 Certification and Approvals
5.4.1 Loading Regulations
5.5 Macroeconomic Indicators
5.5.1 Introduction
5.5.2 Real GDP Growth Rate and Per Capita GDP of Major Economies
5.5.3 Global Wine Production
6 Flexitank Market, By Type
6.1 Introduction
6.2 Monolayer Flexitanks
6.2.1 Food-Grade Liquids Drive the Monolayer Flexitank Market
6.3 Mutilayer Flexitanks
6.3.1 Multilayer Type is the Fastest-Growing Segment
7 Flexitank Market, By Loading Type
7.1 Introduction
7.2 Top Loading Flexitanks
7.2.1 Top Loading Flexitanks Have Higher Demand in Europe
7.3 Bottom Loading Flexitanks
7.3.1 Bottom Loading Flexitank Type is the Faster-Growing Segment
8 Flexitank Market, By Application
8.1 Introduction
8.2 Food-Grade Liquids
8.2.1 Wine, Spirits, and Alcoholic Beverages
8.2.1.1 Wine is the Most Transported Food-Grade Liquid Through Flexitanks
8.2.2 Edible Oils
8.2.2.1 APAC is the Largest Exporter of Edible Oils
8.2.3 Juice, Juice Concentrates, and Syrups
8.2.3.1 Orange Juice and Apple Juice are Most Traded Juices Across the Globe
8.2.4 Others
8.3 Non-Hazardous Chemicals/Liquids
8.3.1 Non-Hazardous Chemicals/Liquids Segment is the Second-Largest Application of Flexitanks
8.4 Pharmaceutical Liquids
8.4.1 European Countries are the Largest Exporters of Pharmaceutical Liquids
9 Flexitank Market, By Region
9.1 Introduction
9.2 APAC
9.2.1 China
9.2.1.1 China to Dominate the Global Flexitank Market
9.2.2 Japan
9.2.2.1 The Presence of One of the Largest Chemical Industries is Favorable for the Flexitank Market
9.2.3 Malaysia
9.2.3.1 Malaysia is the Second-Largest Palm Oil Exporter Globally
9.2.4 Indonesia
9.2.4.1 Indonesia is the Largest Exporter of Palm Oil in the World Which is Positively Influencing the Flexitank Market Growth
9.2.5 South Korea
9.2.5.1 Demand for Flexitanks is Driven By Growing Exports of Chemical Products From the Country
9.2.6 India
9.2.6.1 India to Register the Largest CAGR in the Flexitank Market During the Forecast Period
9.2.7 Rest of APAC
9.3 Europe
9.3.1 Germany
9.3.1.1 Germany Accounted for the Largest Market Share in Europe
9.3.2 France
9.3.2.1 France is the Largest Exporter of Wine in the World
9.3.3 Italy
9.3.3.1 Being the Second-Largest Wine Exporter in the World, Italy Drives the Demand for Flexitanks
9.3.4 UK
9.3.4.1 The UK's Strong Position in Wine, Pharmaceutical Products, and Chemical Exports Drives the Flexitank Market
9.3.5 Spain
9.3.5.1 Spain is One of the Top 5 Wine Producers and Exporters, Which is Favorable for the Demand for Flexitanks
9.3.6 Rest of Europe
9.4 North America
9.4.1 US
9.4.1.1 The US is the Largest Exporter of Orange Juice, Wine, and Chemicals in North America
9.4.2 Mexico
9.4.2.1 Mexico's Orange Juice Export is Expected to Drive the Flexitank Market
9.4.3 Canada
9.4.3.1 Orange Juice Exports to Boost the Demand for Flexitanks in Canada
9.5 Middle East & Africa
9.5.1 Saudi Arabia
9.5.1.1 Saudi Arabia is the Largest Exporter of Chemicals in the Region
9.5.2 Rest of the Middle East & Africa
9.6 South America
9.6.1 Brazil
9.6.1.1 Brazil is the Largest Producer and Exporter of Orange Juice
9.6.2 Rest of South America
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking of Key Players
10.3 Competitive Scenario
10.3.1 New Product Launch
10.3.2 Expansion
11 Company Profile
11.1 Braid Logistics
11.2 Bulk Liquid Solutions
11.3 Environmental Packaging Technologies
11.4 SIA Flexitanks
11.5 Trans Ocean Bulk Logistics
11.6 Qingdao Laf Packaging
11.7 Hengxin Plastic
11.8 Qingdao Global Flexitank Logistics
11.9 Trust Flexitanks
11.10 Rishi FIBC
11.11 Other Companies
11.11.1 Proagri Solutions
11.11.2 Anthente International
11.11.3 Myflexitank
11.11.4 Full-Pak
11.11.5 Andesocean
11.11.6 Hinrich Industries
11.11.7 Bornit Ltd.
11.11.8 Neoflex
11.11.9 Liqua
11.11.10 UWL Flexitanks
11.11.11 Flexpack
11.11.12 M&W Flexitank
11.11.13 Yunjet Plastic Packaging
11.11.14 Sun Flexitanks
11.11.15 One Flexitank
11.11.16 Bscherhoff Packaging Solutions
11.11.17 Qingdao BLT Packing Industrial
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