Flexitank Market Size was valued at USD 0.9 Billion in 2022. The Flexitank industry is projected to grow from USD 1.1 Billion in 2023 to USD 5.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 22.30% during the forecast period (2023 - 2032). Growing acceptance throughout the food, oil, chemical, and industrial products domains, as well as the competitive advantages of flexitanks over their conventional equivalents, such as ISO containers, drums, barrels, and IBCs, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The sector is anticipated to be driven by rising worldwide trade together with flexitanks' competitive advantages over more conventional alternatives such ISO containers, drums, barrels, and IBCs. Flexitanks have capacities ranging from 12,000 to 26,000 litres. These are frequently used to transport a wide variety of liquid goods, such as alcohol, fruit juice, concentrates, mineral water, edible oils, tallow, extracts from malt, lubricants, fertilisers, non-hazardous chemicals, and pharmaceuticals. Flexitanks are a popular choice for bulk packaging since they are significantly less expensive than ISO containers and drums and can store up to 15% more payload than IBCs and 44% more than drums. Additionally, the majority of their uses are single-use, which lowers the possibility of contamination.
The requirement to minimise bulk packaging weight in order to improve freight cost effectiveness is anticipated to boost market expansion. Additional factors that are projected to boost product demand during the predicted years include minimal labour and logistic expenses related to handling flexitanks, zero cleaning costs due to one-time usage, and eco-friendliness. The use of the product for the transportation of hazardous liquids may be reduced as a result of issues like leakage or fracture of the contents in flexitanks, however, limiting the growth. In addition, changing plastic resin costs, which are used as a raw material in the production of flexitanks, are anticipated to present difficulties for the industry.
The World Trade Organisation said that industrial products exports increased from USD 8 trillion in 2006 to USD 11 trillion in 2016. With the increased reliance of nations on one another for various commodities, growth is anticipated to continue on its upward trajectory. Pharmaceuticals, chemicals, petroleum products, and food goods are a few of the key commodities predicted to gain the most traction in the near future. Additionally, its transportation is anticipated to be safer in order to prevent any losses. Due to the convenience of loading and unloading and reduced transportation losses associated with flexitanks, their market is anticipated to grow significantly over the course of the projected period.
Although there are other options for transporting liquid goods outside these tanks, such as IBCs and drums, they are much more affordable. Even while the cost of production is more than that of other traditional items, its installation takes just about a fourth as long and uses very little labour. Standard products can contain up to 24 tonnes of payload, which is around 15% more than IBCs and 40% more than drums, according to SIA Flexitanks. This makes it easier to cut back on transportation expenses. In addition, compared to alternative storage options, they attract reduced demurrage fees at unloading ports, which results in a cheaper cost of transportation than IBCs and drums, which is anticipated to support the expansion of the flexitank industry. Thus, driving the Flexitank market revenue.
The Flexitank Market segmentation, based on type, includes monolayer and multilayer. Monolayer segment dominated the global market in 2022. This is because the product is cheaper than others in the multilayer segment. Additionally, using monolayer tanks decreases the likelihood of contamination from other liquids in the event of a layer rip, which is the case with multilayer tanks, and will aid in the expansion of the monolayer market.
Numerous times, the payload liquid does not fill the product's capacity, which not only raises the cost of shipping but also impairs the product's function since it does not maintain the necessary internal pressure to prevent swaying. As a result, the market for multilayer products is anticipated to grow more quickly since they make it easier to ship two or more liquids in one container, which lowers the cost of shipping for the consumer and prevents damage to the tank from insufficient internal pressure.
The Flexitank Market segmentation, based on loading type, includes top loading and bottom loading. Bottom loading segment dominated the global market in 2022. Initially, top loading layouts were used when designing these goods. However, bottom loading flexitanks have advantages including simple loading and unloading procedures and minimal payload loss when unloading. These advantages have helped the bottom loading sector increase its market share significantly in the past, and they will do so again throughout the market's projected period.
The Flexitank Market segmentation, based on application, includes food-grade liquids, non-hazardous chemicals/liquids, and pharmaceuticals liquids. Food-grade liquids segment dominated the Flexitank Market in 2022. This is due to the increasing demand from end-use applications, including bread and confectionery goods, fruit juices, sauces, concentrates, and edible oils. In the upcoming years, it is projected that the demand for products in this sector would increase due to the quick growth of retail chains and the rising food needs caused by the expanding populations in emerging economies.
Figure 1: Flexitank Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific Flexitank market dominated this market in 2022 (45.80%). This is due to the presence of China and India, the two major agricultural producers and consumers. The expansion of the regional market was further aided by Indonesia and Malaysia's high levels of palm oil production and export. Moreover, China’s Flexitank market held the largest market share, and the Indian Flexitank market was the fastest growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: FLEXITANK MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The North America Flexitank Market is expected to register significant growth from 2023 to 2032. This is due to the U.S. industrial sector's consistent expansion. Additionally, the existence of advantageous trade agreements, like NAFTA, which provide free trade between the United States, Canada, and Mexico, is likely to favour market expansion. Further, the U.S. Flexitank market held the largest market share, and the Canada Flexitank market was the fastest growing market in the North America region.
Europe Flexitank market accounted for the healthy market share in 2022. This is due to the rise in the manufacturing and export of medications that are temperature-sensitive, especially in Germany, Switzerland, Belgium, France, and the Netherlands. Further, the German Flexitank market held the largest market share, and the U.K Flexitank market was the fastest growing market in the European region
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Flexitank market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Flexitank industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Flexitank industry to benefit clients and increase the market sector. In recent years, the Flexitank industry has offered some of the most significant advantages to medicine. Major players in the Flexitank market, including Bulk Liquid Solutions, SIA FLEXITANKS, Qingdao LAF Packaging Co., Ltd., Hengxin Plastic Co.,Ltd., Qingdao Global Flexitank Logistics, TRUST Flexitanks, Rishi FIBC Solutions PVT. Ltd., PROAGRI SOLUTIONS LLC., Anthente International, MYFLEXITANK, Hinrich Industries., bornitflexi, UWL, Inc., Sun Logistics, and Büscherhoff Packaging Solutions GmbH, are attempting to increase market demand by investing in research and development operations.
Transporting alcoholic beverages is what JF Hillebrand does. The corporation, which largely uses ocean transportation, is a global player in the goods forwarding of alcoholic beverages. Germany's Mainz serves as the company's headquarters. It was established in 1844. Hillebrand, a significant leader in the logistics of bulk liquids, announced the acquisition of Braid in October 2020. Hillebrand's knowledge of handling non-hazardous liquids in bulk, such as wine, olive oil, non-hazardous chemicals, juices, and food oils, is bolstered by this acquisition.
The provider of SIA Flexitanks' customisable sustainability platform aims to offer thorough evaluations of the environment, society, and governance. The company's platform gives businesses the ability to create procedures and practises that are concerned with the effects they have on society and the environment while also giving them access to vital data and reporting that helps them maintain sustainable growth trajectories. Static storage tanks were introduced by SIA Flexitanks in July 2020. These are appropriate for the short-term storage of non-hazardous liquids like water. For emergency firefighting, static storage tanks are ideal.
September 2019 By building new office and storage facilities in Malaysia, SIA Asia, a subsidiary of SIA Flexitanks, confirmed its advancement in the Asia Pacific market. The facilities will help the business by increasing its reach across Asia Pacific and offering consumers in the area effective service.
January 2020 Flexitanks have been added to the list of facilities offered by VTG Tanktainer GmbH for the transportation of liquid commodities. The business took this action to provide its clients with a variety of effective transportation options.August 2023 The Flexitank Association, a global trade association for the flexitank industry, launches a new certification program for flexitank manufacturers and service providers.
Flexitank Type Outlook
Flexitank Loading Type Outlook
Flexitank Application Outlook
Flexitank Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.9 Billion |
| Market Size 2023 | USD 1.1 Billion |
| Market Size 2032 | USD 5.6 Billion |
| Compound Annual Growth Rate (CAGR) | 22.30% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Loading Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Bulk Liquid Solutions, SIA FLEXITANKS, Qingdao LAF Packaging Co., Ltd., Hengxin Plastic Co.,Ltd., Qingdao Global Flexitank Logistics, TRUST Flexitanks, Rishi FIBC Solutions PVT. Ltd., PROAGRI SOLUTIONS LLC., Anthente International, MYFLEXITANK, Hinrich Industries., bornitflexi, UWL, Inc., Sun Logistics, and Büscherhoff Packaging Solutions GmbH |
| Key Market Opportunities | Increase in commodity trade in BRICKS nations |
| Key Market Dynamics | Increasing global trade, coupled with the competitive benefits of flexitanks over their traditional substitutes, such as ISO containers, drums, barrels, and IBCs and increase adoption across the food, oils, chemical, and industrial goods domain |
Flexitank Market Highlights:
Frequently Asked Questions (FAQ) :
The Flexitank Market size was valued at USD 0.9 Billion in 2022.
The global market is projected to grow at a CAGR of 22.30% during the forecast period, 2023-2032.
Asia Pacific had the largest share in the global market
The key players in the market are Bulk Liquid Solutions, SIA FLEXITANKS, Qingdao LAF Packaging Co., Ltd., Hengxin Plastic Co.,Ltd., Qingdao Global Flexitank Logistics, TRUST Flexitanks, Rishi FIBC Solutions PVT. Ltd., PROAGRI SOLUTIONS LLC., Anthente International, MYFLEXITANK, Hinrich Industries., bornitflexi, UWL, Inc., Sun Logistics, and Büscherhoff Packaging Solutions GmbH
The Monolayer Type dominated the market in 2022.
The Bottom Loading Type had the largest share in the global market.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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