Flexitank Market Projects 21.00% CAGR, to Reach New Peaks by 2031

Market Overview

The global flexitank market is projected to witness substantial growth over the forecast period, exhibiting a CAGR of 21.00% from 2023 to 2031.

Flexitanks are single-use, disposable containers made of high-strength, flexible materials such as polyethylene or polypropylene. They are designed to be inserted into standard ISO shipping containers, creating a temporary, liquid-tight compartment for transporting non-hazardous liquids.

Growth Drivers

Rising Global Trade Activities

The increasing volume of global trade, particularly in developing economies, is driving the demand for flexitanks. Flexitanks offer a cost-effective and convenient solution for transporting liquids, especially in regions with limited access to liquid bulk infrastructure.

Bulk Liquid Transportation Efficiency

Flexitanks maximize the utilization of shipping containers by filling unused space. This improves transportation efficiency and reduces freight costs compared to traditional methods like drums or IBCs.

Environmental Sustainability

Flexitanks are environmentally friendly as they are fully recyclable and can help reduce carbon emissions during transportation. They eliminate the need for dedicated tanker trucks or railcars, which contributes to a lower carbon footprint.

Market Segmentation

Capacity

The flexitank market is segmented by capacity, with the 20,000-24,000-liter segment holding the largest share. Medium-capacity flexitanks (12,000-19,999 liters) and large-capacity flexitanks (over 25,000 liters) are also gaining traction.

Applications

Flexitanks are used in various industries, with the food and beverage sector accounting for the dominant share. Other applications include chemicals, pharmaceuticals, and personal care products.

Regional Analysis

Asia-Pacific is the largest market for flexitanks, followed by Europe and North America. Developing countries in Asia-Pacific, such as China, India, and Southeast Asian countries, are witnessing significant growth due to increased trade activities and industrialization.

Competitive Landscape

The flexitank market is highly fragmented, with numerous regional and international players. Key players include Mauser Packaging Solutions, Greif, Inc., Plastipack, Trans Ocean Bulk Logistics, and Sonoco Products Company.

Future Outlook

The future of the flexitank market is promising, driven by the rising demand for flexible and cost-effective liquid transportation solutions. Technological advancements, such as the development of stronger and more durable materials, are expected to further enhance the market growth.