Flexitanks Market is Expected to Experience Substantial Growth by 2022
The worldwide Flexitanks Market was worth over USD 208.5 million in 2014. It would grow to USD 923 million by 2022. Rising export from Europe and Asia Pacific has triggered demand for bulk packaging across the globe. Rising requirement for flexible storage and portability of liquids is favoring market growth. Flexitanks offer competitive advantages that include ease of setup, foldability and portability.
They are more cost-effective as compared to ISO (International Organization for Standardization) tanks & drums. These tanks eliminate repositioning costs. Their loading and labor costs are also low. Hence they are highly preferred in case of bulk liquids for remote destinations.
The flexitanks market is segmented as per products, applications and regions. Single-trip and multi-trip are the two product categories. In 2014, single-trip disposable bladder dominated the market, contributing over 90% of the total demand. These bladders are highly cost-effective. They offer increased carriage capacity and low costs. On the other hand, multi-trip tanks bear extra costs related to repositioning and cleaning.
Applications encompass industrial products, foodstuffs, pharmaceutical goods, chemicals & oils. Foodstuffs were the leading application, with volume share exceeding 30% in 2014. Flexitanks are used to transport semi-solid and liquid foods such as edible oil, fruit concentrates, fruit juices, potable water. Those with FDA (Food & Drug Administration) approval may also be used to transfer bulk medicaments across borders.
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Flexitanks are increasingly being used to transfer industrial products and oils. They are gaining popularity amongst exporters due to the environmental and economic benefits of bulk commodity shipping.
Region wise, the market is spilt into Asia Pacific, Europe, North America and MEA (Middle East & Africa). Asia Pacific led the market in 2014. It consumed over 60% of the global volumes that year. Optimistic outlook on commodity export in Indonesia, China, Thailand, India and Vietnam has been a key driver.
Europe is an important exporter of several foodstuffs and wine. Denmark, Spain and the Netherlands export fruit juices, malt extracts, olive oil, etc. European demand for flexitanks in chemicals & oil applications is growing on account of rising manufacture of chemical and industrial products in Germany and UK.
Key companies in the global flexitanks market include Trans Ocean Bulk Logistics Ltd, Environmental Packaging Technologies Inc., SIA Flexitanks Ltd., and Qingdao LAF Packaging Co. Ltd. High integration exists among distributors, manufacturers and logistics services.
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