The global flexitanks market size is expected to be worth around US$ 6.30 billion by 2030, according to a new report by Vision Research Reports.
The global flexitanks market size was valued at US$ 720.4 million in 2020 and is anticipated to grow at a CAGR of 23.0% during forecast period 2021 to 2030.
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Report Coverage
| Report Scope | Details |
| Market Size | USD 6.30 billion by 2030 |
| Growth Rate | CAGR of 23.0% From 2021 to 2030 |
| Base Year | 2021 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, Application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Braid Logistics UK Ltd.; Bulk Liquid Solutions Pvt. Ltd; Qingdao BLT Packing Industrial Co., Ltd. (BLT); Full-Pak; Environmental Packaging Technologies, Inc. |
Growth Factors
The rising global trade of various liquid food products, chemicals, pharmaceuticals, and industrial products is principally augmenting the market growth.
Lower costs associated with flexitanks compared to conventional bulk liquid transport containers, such as ISO containers, IBCs, drums, and barrels, are likely to propel their demand. Furthermore, flexitanks carry higher payloads than IBCs and drums, which prove them to be a more economical means of bulk transportation.
A majority of the flexitanks are designed for single-use, which reduces the risk of packed product contamination. This superior protection against contamination makes them an ideal bulk packaging choice for food-grade liquids and pharmaceuticals. In addition, flexitanks do not require the forklift or other mechanism, which makes loading and unloading much faster. The aforementioned factors are attracting several application industries.
Key Players
Market Segmentation
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