Flexitanks Market - Global Industry Analysis 2024 | Research Report
Flexitanks refer to a large plastic containers/bags used for transportation of a variety of materials, most often nonhazardous liquids, fitted with loading and discharge valves. Flexitanks, unlike conventional tank containers, are used and designed for a single trip, prior to which the empty container must be disposed in proper waste facilities.
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Based on the material used for manufacturing flexitanks, they can be used to transport a variety of nonhazardous liquids such as wine, latex, edible oils, and additives. This report on the global flexitanks market analyzes the market in terms of volume and revenue. Segmenting the market on the basis of a number of crucial criteria such as application, type, and geography, the report gives a detailed overview of the growth prospects of the market and its segments across key regional markets. A market attractiveness analysis is also presented for key segments examined in the report.
For the study, 2015 is considered as the base year, whereas all projections have been presented for the period between 2016 and 2024. Detailed qualitative and quantitative market data for all the crucial segments has been provided at regional and country levels for the said period. The report also provides a detailed competitive analysis of some of the most influential vendors engaged in the flexitanks business. A thorough analytical overview of key market dynamics such as growth drivers, challenges, and opportunities impacting the market is also included in the report.
Global Flexitanks Market: Drivers and Restraints
The global flexitanks market is chiefly driven due to the vast benefits of flexitanks in terms of their environment friendly quotient, the low amount of time and efforts required in filling and discharging these containers, and compatibility with a vast number of industrially viable fluids. Flexitanks are also known to showcase better performance, overcoming a number of issues associated with the use of drums, ISO tank containers, or IBCs. Furthermore, since flexitanks are designed for single time use, they lead to a stark reduction in the risk of cross-contamination of liquids.
On the other hand, one of the key constraints for the global flexitanks market is the several issues that crop up during the bulk transportation of fully laden flexitanks. For instance, the weight of a 24,000 liter flexitank causes the outwards distortion of the side wall of the box container further beyond ISO containers.
Cargo surge during movement and transport of such fully laden flexitanks results in potentially excessive side and end wall loads, potentially leading to instability during activities such as lifting and trucking. Also, flexitanks are not suitable for use for the transportation of certain hazardous fluids or fluids that fall under the Dangerous Goods category of the International Maritime Dangerous Goods Code. Certain environmental issues arising during the disposal of flexitanks also pose growth challenges for the global flexitanks market.
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Global Flexitanks Market: Segmentation
The global flexitanks market is segmented on the basis of criteria such as the number of times flexitanks are used and geography.
On the basis of the number of times of use, the flexitanks market is segmented into single-trip and multi-trip. Of these, the segment of single-trip flexitanks is presently the dominant, with single-trop flexitanks presently accounting for over 95% of the global market.
From a geographical perspective, the global flexitanks market is presently concentrated in Asia Pacific countries such as India, China, and Malaysia. Europe is also witnessing a surge in demand for flexitanks, chiefly in countries such as the U.K. and Germany. In North America, the U.S. and Canada dominate the demand side.
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