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Global Flexitanks Market to Grow at a CAGR of 14.% During 2022-2027, Aided by the Thriving Pharmaceutical Industry

According to a new report by EMR titled, ‘Global Flexitanks Market Report and Forecast 2022-2027’, the global flexitanks industry stood at a value of around USD 1019 million in 2021. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 14% to reach USD 2237 million by 2027.

The rising demand for flexitanks for transportation of sensitive liquids in the pharmaceutical sector is driving the market growth. Flexitanks are light-weight and strong container, which is a great advantage of the product in this sector. Flexitank is a comparatively cheap option in the transportation sector, which is a major aiding factor in the market. The stringent government regulations across the emerging economies to counter the emission of greenhouse gases is likely to propel the demand for flexitanks, owing to the fact that flexitanks is eco-friendly and poses no harm to human life.

North America is anticipated to witness a considerable growth in the forecast period. The market in the region is anticipated to be driven by the rising demand for foodstuffs in countries like the United States of America and Canada. The rising demand for flexitanks to transport industrial products, owing to rapid industrialisation in the region, will also propel the market in the forecast period.

In March 2020, FESCO Transportation Group (MCX: FESH) collaborated with Rail Cargo Logistics to organise the first transportation of canola oil containers equipped with flexitanks. The transportation will happen from Krasnoyarsk territory to the port of Nantong, China.

Market Breakup by Product, Application, and Region:

  • The market on the basis of product is segmented into single trip and multi-trip.
  • Based on application, the market is divided into foodstuffs, wine and spirits, chemicals, oils, industrial products, and pharmaceutical goods.
  • Region-wise, the global market for flexitanks can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for flexitanks is being driven by the growing expansion of major end-use industries of the product.
  • The rising demand for food-grade liquids such as edible oil, juice, wine, and liquid condiments, among others, is anticipated to augment the market.
  • In addition to this, the increasing shift from traditional transportation alternatives to flexitanks is anticipated to boost the market growth.
  • The market will further be aided by the rapid urbanisation and technological advancements in the end use industries of the product.

Key Offerings of the Report:

  • The EMR report gives an overview of the global flexitanks industry for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the products, applications, and regions of flexitanks.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global flexitanks market are Braid Logistics Group, Bulk Liquid Solutions (P) Ltd., Büscherhoff Packaging Solutions GmbH, Qingdao LAF Packing Co., Ltd., SIA Flexitanks Ltd., and MY Flexitank Industries Sdn Bhd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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