Flexitank Market to Reach a Value of USD 3,988.685 million

Market Definition

Flexitanks, also referred as flexibags, are made up of multilayers of polyethylene and an outer layer of woven polypropylene, and are commonly used to transport materials such as juices, wines, non-hazardous chemicals, and other materials across international borders. They are useful in transportation of bulk quantities of products and are used across various application such as the food grade liquids, non-hazardous chemicals, industrial liquids, agricultural liquids and others.

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Flexitank Market Analysis and Size

The increasing demand of wine across the globe and highly competitive benefits over other available products are the root cause fueling up the market growth rate. The factors expected to cushion the growth of the flexitank market in the forecast period are the portable setups and initiatives taken by government to incorporate green logistic practices will further carve the way for the growth of market in the forecast period of 2022 to 2030. In addition to this, the growth in the global trade of food-grade liquids, non-hazardous chemicals, and pharmaceutical liquids are further expected to cushion the overall markets growth.

The competitive benefits of flexitanks over their traditional substitutes, such as ISO containers, drums, barrels, and IBCs are projected to boost the market's growth in the above-mentioned forecast period. On the other hand, the availability of the substitutes are expected to impede the growth of the flexitank market. The toppling risk associated with the use of flexitanks are also projected to hamper market's overall growth in the forecast period of 2023 to 2030.On the flip side, the increase in the raw material prices is projected to pose as a major challenge to the growth of the flexitank market are expected to propel the market growth rate during the forecast period.

Data Bridge Market Research analyses that the flexitank market is expected to undergo a CAGR of 21.0% during the forecast period. This indicates that the market value, which was USD 2,877 million in 2022, is expected to USD 3,988.685 million by 2030. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, technological advancements, and patent analysis.

Competitive Landscape and Global Flexitank Market analysis

The flexitank market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company's focus related to flexitank market.

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