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According to Fortune Business Insights, The global flexitank market was valued at USD 268.62 million in 2024 and is expected to expand to USD 644.69 million by 2032, growing at a CAGR of 11.63% during the forecast period. In 2024, Asia Pacific held the largest share of the market, accounting for 42.26%. The U.S. flexitank market is anticipated to witness substantial growth, reaching approximately USD 419.71 million by 2032, fueled by rising demand for food-grade oils, chemicals, and beverages, especially across the food & beverage, chemical, and pharmaceutical sectors.
The increasing investment in the development of sustainable products associated with the manufacturing of flexitank will aid the growth of the market in the coming years. The increasing number of regulatory approvals for transport and distribution networks will bode well for the market. According to a report published by Fortune Business Insights, titled “Flexitank Market Size, Share & Industry Analysis, By Reusability (Single Use and Reusable), By Product (Monolayer and Multilayer), By Loading Type (Top Loading and Bottom Loading), By Application (Food-Grade Liquids [Alcoholic Beverages; Edible Oils; Juices, Concentrates, and Syrups; and Others], Non-Hazardous Liquid Chemicals, and Pharmaceutical Liquids), and Regional Forecast, 2025-2032."
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List of companies profiled in the report:
List of companies profiled in the report:
Qingdao BLT Packing Industrial Co., Ltd. (China)
Qingdao LET Flexitank Co., Ltd. (China)
LiquA Europe SLU (Spain)
Qingdao LAF Packaging Co., Ltd. (China)
LSM SA (Argentina)
UWL Inc. (U.S.)
FTS Container Packaging Co., Ltd. (China)
SIA Flexitanks (Ireland, USA, Malaysia)
BeFlexi (Cyprus)
Hinrich Industries (Malaysia)
TIBA (Spain)
Flexible World Company Ltd. (Vietnam)
Flexitank Group (Spain)
Flexitank is a lightweight disposable bladder that is normally made out of plastic. The product is normally used for shipping of non-hazardous liquid materials that is transported through shipping containers. The advancements in the materials used in manufacture of flexitank will lead to a wider product adoption. The increasing applications of the product are attributable to the favorable properties of the material used in manufacturing. The stringent guidelines associated with the use of this product, set by organizations such as the Containers Owners Association (COA) will ensure safety of the product, subsequently leading to a wider product adoption across the world. The growing investment in R&D of the material associated with flexitank will contribute to the growth of the market in the coming years. Additionally, the presence of several large scale companies will emerge in favor of market growth.
Increasing Regulatory Approvals will Help Companies Generate Huge Revenues
Increasing Regulatory Approvals will Help Companies Generate Huge Revenues
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of regulatory approvals has made the highest impact on market growth. In November 2019, SIA Flexitanks got approval from the Canadian CN Rail network and Norfolk Southern Rail network for shipping of flexitanks. SIA already has shipping approvals from CSX and BNSF rail networks and this approval will help the company expand its transportation over other regions. These approvals will open new territories and markets for the company and subsequently generate massive revenues in the coming years. SIA’s approval from CN and NSR networks will not just benefit the company but will also have a direct impact on the growth of the overall market in the coming years. The report highlights a few of the other industry developments, similar to this and discusses their impact on market growth.
Asia Pacific to Emerge Dominant; Increasing Food and Chemical Manufacturing Hubs Will Aid Growth
Asia Pacific to Emerge Dominant; Increasing Food and Chemical Manufacturing Hubs Will Aid Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The increasing number of food as well as chemical manufacturing units in several countries across this region will have a direct impact on the growth of the regional market. Additionally, the increasing efforts put in import as well as export activities will create several opportunities for market growth. As of 2019, the market in Asia Pacific was worth USD 245.42 million and this value is projected to increase further in the coming years. The market in North America will also witness considerable growth driven by the increasing transport activities for liquid chemicals through rail-based containers.
KEY INDUSTRY DEVELOPMENTS:
KEY INDUSTRY DEVELOPMENTS:
June 2022 – Mediterranean Shipping Company became one of the companies to provide in-house liquid cargo solutions by introducing flexibag for shipping liquid cargo. Flexibags can carry up to 24,000 liters of non-hazardous liquids such as wine, edible oils, petroleum products, and chemicals, offering a cost-effective and safe alternative to other bulk liquid transportation solutions.
March 2022 – SIA Flexitanks launched its innovative trinity tank. This three-pod reefer flexitank system would enable shippers to load multiple flexitanks in the same container to transport the bulk liquids. The tank has a total capacity of 27,000 liters, and one of the triple tanks can hold 9,000 liters.
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