Flexitanks Market - By Product Type (Single trip, Multi-trip), By Application (Oils, Pharmaceutical Goods, Wines, Chemicals, Industrial Products) & Forecast, 2024 – 2032

Flexitanks Market Size

Flexitanks Market size was worth USD 955 million in 2023 and is expected to record a CAGR of over 20.1% during 2024 and 2032, owing to strict carbon footprint laws and focus on adopting sustainable practices across the sectors. For instance, the EU has the Carbon Border Adjustment Mechanism (CBAM) that aims to prevent carbon leakage by applying a carbon price to imports of certain goods based on their carbon content.
 

The shift toward sustainable and eco-friendly packaging solutions has played a crucial role in driving the adoption of flexitanks. As environmental concerns intensify, businesses are seeking ways to reduce their carbon footprint and promote sustainable practices throughout their supply chain. Flexitanks, being lightweight and producing less waste compared to traditional packaging options like drums or ISO tanks, are gaining popularity across the sectors. Moreover, the product offers a significantly lower upfront cost and reduced operational expenses, making it an attractive option for businesses looking to optimize their supply chain and transportation costs. The focus among companies to maximize storage capacity and minimize handling & cleaning expenses while ensuring the safe & efficient transportation of liquids will boost the growth of flexitanks industry.
 

Flexitanks Market Growth Drivers & Restraints

The globalization of supply chain and the increasing international trade have bolstered the demand for efficient transportation of bulk liquid, favoring the adoption of flexitanks. However, underdeveloped transportation infrastructure in certain regions can restrain the industry growth. Flexitanks require specialized handling facilities and suitable loading & unloading mechanisms for efficient operations. The absence of such facilities will become a major challenge. Moreover, strict regulatory compliance requirements related to safety, environmental standards, and the transportation of hazardous goods will further restrict the product adoption. Adhering to these regulations necessitates additional investments in testing, certifications, and safety measures, increasing operational costs for manufacturers and potentially limiting the use of flexitanks for specific types of liquids.
 

COVID-19 Impact

The COVID-19 pandemic and the subsequent restrictions led to fluctuations in demand and caused logistical challenges for the transportation of goods, including liquids. While certain industries like pharmaceuticals and food saw an increased need for efficient transportation solutions during the pandemic, others faced decreased sales due to economic uncertainties. Moreover, the pandemic also affected the production & supply of raw materials used in manufacturing of flexitanks, causing supply chain disruptions. However, the demand for flexitanks is expected to rebound, driven by the growing need for cost-effective and reliable bulk liquid transportation solutions.
 

Flexitanks Market Trends

The advancements in flexitank technology and material innovations are enhancing product performance, safety, and compatibility with a wider range of liquid products, making it a suitable transportation option across various industries. Also, through digitalization and integration of technology in the logistics sector, supply chain management is getting streamlined with real-time tracking and enhanced operational efficiency. These factors, along with the emerging trend of flexitank leasing and pooling services are shaping the industry dynamics at present.
 

Flexitanks Market Analysis

The flexitanks market share from chemicals application is touted to register strong CAGR over 2023 to 2032 as the product provides a secure & efficient solution for the transportation of various chemical products, including industrial chemicals, specialty chemicals, petrochemicals, and more. Flexitanks are designed to meet stringent safety standards and regulations to ensure the integrity and compatibility of the chemicals during transit. The focus on cost-effective and reliable bulk liquid transportation in the chemical industry for various manufacturing processes and supply chain operations is supporting the adoption of flexitanks.

The single trip segment of flexitanks market accounted for a revenue share of 73% in 2022 and is poised to grow notably through 2032, due to its convenience and reduced risk of cross-contamination between different liquid shipments. Businesses with intermittent liquid transportation needs or those dealing with sensitive or high-value liquids often opt for single trip flexitanks, as they offer a cost-effective and hassle-free solution for short-term shipping requirements. The durability as well as the elimination of return transportation journey with safe disposable or recycling of the product is propelling the demand for single trip flexitanks.
 

North America flexitanks market value estimated at over USD 373 million in 2022 and is projected to showcase impressive growth trends during the forecast period, owing to the need for sustainable packaging solutions, the expansion of e-commerce, and the growing emphasis on optimizing supply chain logistics. The well-developed infrastructure and extensive international trade in the region are creating opportunities for flexitanks manufacturers. Additionally, the strict regulatory compliance requirements have led to the development of high-quality and safety-compliant flexitanks, further adding to the regional market growth.
 

Flexitanks Market Share

Some known names in the global flexitanks market are

• Braid Logistics (Formerly known as Braid)
• Trans Ocean Bulk Logistics
• SIA Flexitanks
• Bulk Liquid Solutions
• Environmental Packaging Technologies (EPT)
• Trust Flexitanks
• BeFlexi
• Mak & Williams Flexitank Supply Limited
• Qingdao LAF Packaging Co., Ltd.
• Rishi FIBC Solutions Pvt. Ltd. 
   

Flexitanks Industry News

• In July 2021, Vast Solar, CyD, Solar Dynamics, Alia Energy Consulting, and Critical Engineering collaboratively created Flexitank, an innovative high-temperature molten salt thermal energy storage tank design specifically tailored for Concentrated Solar Power (CSP) and standalone thermal energy storage applications.
   

The flexitanks market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) & volume (Kilo Tons) from 2018 to 2032, for the following segments:

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By Product Type

• Single trip
• Mut-trip

By Application

• Oils
• Pharmaceutical Goods
• Wines
• Chemicals
• Industrial Products
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Egypt