Global Flexitank market, which is likely to accrue revenue of nearly 1.21 (USD Billion) by 2026, will register a CAGR of nearly 21% during the period from 2020 to 2026.
The global Flexitank market, which is likely to accrue revenue of nearly 1.21 (USD Billion) by 2026, will register a CAGR of nearly 21% during the period from 2020 to 2026. The report offers assessment and analysis of the Flexitank market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Flexitank was developed by the U.S defense & military sector for storing as well as transporting diesel & water in 1960. Furthermore, Flexitank is a bulk liquid storage facility and is made up of many polyethylene layers. These products are immensely utilized for transport of food items like edible oil, beverages, fruit concentrates, and harmless chemicals. The ability of Flexitank to offer protection against contamination will steer its demand across the globe.
Moreover, Flexitank is the container or a good that can be boxed and then shipped. In addition to this, Flexitank are designed to maintain the value & quality of the product during the transportation.
Market Growth Dynamics
Rise in the business of exporting beverages across the globe has provided impetus to the growth of Flexitank market over the forthcoming years. Moreover, the products are cost-efficient in comparison to ISO certified drums & tanks and hence firms consider use of Flexitank as best option for reducing transport costs. This, in turn, will elevate the business growth over the forecast timeline. In addition to this, no repositioning prices and reduction in loading costs are few of the key aspects that will make Flexitank preferable over other containers for storing bulk liquids for transport, thereby bolstering market trends.
Moreover, growing customer awareness pertaining to benefits offered by Flexitank will proliferate the market expansion over the forthcoming years. In addition to this, inflating oil & food items demand across the world will impel the business sphere over the next couple of years. Rise in the green logistics practices due to government strict laws as a result of growing environmental concerns will define the growth of Flexitank market over the forecast period.
Asia Pacific To Make Lucrative Contributions Towards Overall Market Share By 2026
The expansion of Flexitank business in Asia Pacific during the timespan from 2020 to 2026 is owing to swift industrialization & export of goods from nations like Vietnam, Thailand, Indonesia, China, India, and Malaysia to other countries. In addition to this, Asia Pacific zone is the key hub for industrial products & chemical production apart from being the hub for exporting goods. This will further steer the expansion of market over the forecast timeline.
Key players profiled in the report include Bulk Liquid Solutions, Environmental Packaging Technologies, Braid Logistics, SIA Flexitanks, and Trans Ocean Bulk Logistics.
The global Flexitank market is segmented as follows:
by Loading Type:
Rise in the green logistics practices due to government strict laws as a result of growing environmental concerns will define the growth of Flexitank market over the forecast timeline.
The CAGR of the industry is expected to be nearly 21% during the forecast timespan.
Asia Pacific region will contribute sizably towards the global market revenue over the estimated timeline.
Request the coronavirus impact analysis across industries and markets