The report “Flexitank Market by Type (Monolayer and Multilayer), Loading Type (Bottom Loading and Top Loading), Application (Food-Grade Liquids, Non-Hazardous Chemicals/Liquids, and Pharmaceutical Liquids), and Region – Global Forecast to 2023″, The flexitank market is projected to grow from USD 366 million in 2018 to USD 912 million by 2023, at a CAGR of 20.0% during the forecast period. The growth of the flexitanks market can be attributed to the growth in the global trade of beverages. In addition, economic and competitive advantages of flexitanks compared to its traditional substitutes such as ISO tanks and drums is driving its demand globally.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=215572705
Competitive advantages as compared to other alternatives
Competitive advantages such as foldability, cost-effectiveness, portability strength, no contamination, along with ease of set up are projected to increase the demand for flexitanks over other alternativessuch as barrels, IBCs, ISO tanks, and drums. The transporters of various liquids have an rising concerns regarding portability of liquids and increasingly looking for flexible storages. Furthermore, flexitanks contain approximately 31% more liquid than any other containers. Various industries and transporters consider flexitank as an essential alternative for bulk liquid transportation at a lower cost.
Multilayer flexitanks to be the faster-growing type segment of the flexitank market
The availability of undamaged, neat, and clean containers is a major challenge in the logistics industry. Containers with scrapped inner walls of are likely to puncture the flexitanks which prompted the need of multilayer flexitanks. Environmental conditions such as high heat, cold, humidity, and temperature fluctuation, also have an adverse effect on the cargo of the flexitanks especially when food-grade liquids such as wine, juice, and juice concentrates are transported. This boosted the demand for multilayer flexitanks with oxygen and humidity barrier flexitanks.
Bottom loading to be the faster-growing loading segment of the flexitanks market
Traditionally, top loading flexitanks had high demand especially in Europe, for food-grade liquids and non-hazardous chemicals/liquids transportation. But there are difficulties in loading and unloading process for the top loading flexitanks. Bottom loading flexitanks overcome this disadvantage as one valve is used for loading and unloading. Bottom load/bottom discharge flexitanks require less labor cost and fewer work hours compared to top load configurations, owing to which the demand for the bottom loading flexitanks is expected to increase during the forecast period.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=215572705
APAC to be the fastest-growing regional segment of the flexitank market
APAC is projected to be the fastest-growing flexitanks market. The growth of the APAC flexitanks market can be attributed to increased production of food-grade liquids such as edible oils, juice, and juice concentrates, syrups, and other food-grade liquids. Additionally, the growth across chemical production, especially from China and Japan, is expected to drive the demand for flexitanks.
Read Our Trending Press Release Below:
Steel Rebar Market
Construction Equipment Rental Market
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media ContactCompany Name: MarketsandMarkets™ Research Private Ltd.Contact Person: Mr. Aashish MehraEmail: Send EmailPhone: 18886006441Address:630 Dundee Road Suite 430City: NorthbrookState: IL 60062Country: United StatesWebsite: https://www.marketsandmarkets.com/Market-Reports/flexitank-market-215572705.html
