Global Flexi Tank Market Size, Insights, Drivers, Opportunities, By Product (Single-Trip, Multi-Trip), By Application (Foodstuffs, Wine & Spirits, Chemicals, Oils), By Region, Growth, Trends and Forecast from 2019 to 2027
Global Flexi Tank Market Size, Insights, Drivers, Opportunities, By Product (Single-Trip, Multi-Trip), By Application (Foodstuffs, Wine & Spirits, Chemicals, Oils), By Region, Growth, Trends and Forecast from 2019 to 2027
Historic year: 2015 to 2018 Base Year: 2018 Forecast Year: 2019 to 2027
Page Number: 120 Category: Chemical Report Id: MISCH5501
The global flexi tank market revenue was valued USD xx billion and estimated to reach USD xx billion with a CAGR of xx% over the forecast period of 2019 to 2027. Flexi tanks are the most cost effective approach when it comes to transporting bulk packaging solutions. These solutions have gained popularity over the last decade because of its benefits which includes easy portability, foldable options and smoother installation. These tanks can transfer up to 24,000 litres of liquids in a 20 feet container. Materials like polyethylene, PVC coated fabric, polypropylene are used for transportation of non-hazardous liquids like fruit juices, wine, sweeteners, etc.
The major drivers of this emerging market are the increased global trade of food-grade liquids, pharmaceuticals, and chemicals. The use of flexi tank market has risen over the last decade because of the immense trade in food grade liquids. For instance, some food grade liquids like apple juices and edible oils are exported in APAC making it a major region of this segment. Another trend is the growing demand for trade in commodities and increasing wine trade. Flexi tanks are an economical way of transportation.
The key players in the market include Trans Ocean Bulk Logistics Ltd., Environmental Packaging Technologies (US), Braid Logistics UK, SIA Flexi tanks (Ireland), Trust Flexi tanks, and Qingdao Global Flexi tank Logistics, Bulk Liquid Solutions (India). These organizations use both inorganic and organic methodologies to fixate their positions in the market.
One of the major risks involved with such bulk transfer solutions is leakage of contained products in long-distance routes. Although these products are manufactured in accordance with environmental legislation and keeping in mind the risks involved with leakage. The consequence of such activities led to the development of single trip flexi tank which is very popular for its curtailment in cleaning and repositioning. The average cost of a flexi tank is on a higher side when compared to per unit cost of an intermediate bulk container. But when overall costs are considered including operational costs, it is evident that they are economical and cheaper.
Developing countries can be accounted for a majority of share in this market. Countries like Europe and Latin America are among the main exporters of wine and fruit juices giving them a major share in the trade. Further, it made them accountable for a considerable share in the global flexi tank market. Rapid industrialization in developing countries like China, Vietnam, India, and Indonesia contribute significantly in the global trading of industrial liquids and no hazardous liquids too. Other countries in Southeast Asia also hold a significant portion of edible oil export. For instance, we have observed that Qingdao Hengxin plastic in 2018 increased its production to 200,000 units due to the increased trade. They sold around 100,000 units in 2017. Other companies like Environmental Packaging Technologies have increased their expansion in production houses in Zeeland, Michigan to meet the consumer demands. They have also launched a new product line called LIQUIRIDE which supports in temperature-control transportation of fresh juices and concentrates.
In November 2016, Bri agro tank was launched by Braid Logistics which is an ideal product for liquids with high solid content like fruit pulps, grape mash, pepper mash, and olives, etc. The flexi tank has 2 injection points which mix the liquid with the solid content before discharging the liquid. World Distribution Company is a UWL sister company is offering full-service flexi tank fitting and bulk liquid drayage to meet the heavy demand of customer requirements. Companies like Odyssey have built an intermodal network of customer service people to help its target audience with a safe and reliable option. Their unique 40ft design reduces liquid dynamics and is approved by the American Association of Railroads.