Demand of flexitanks will remain high in chemical and food industry. Manufacturers are reliant on sustainable materials and cheaper transportation, accelerating the flexitanks sales.
Award winning market research company Fact.MR has conducted a recent study on the global flexitanks market. As per its study, a positive growth outlook is expected for 2021, primarily underpinned by growing demand from the packaging and food industry. Growth prospects for the upcoming decade are also optimistic, registering a noteworthy expansion rate until 2031, especially from the chemical industry.
According to the study by Fact.MR, burgeoning demand from the packaging industry is expected to foster the flexitanks sales through 2021 and beyond. With North America expanding at nearly 2% as a primary flexible food packaging hub, there is an inclination towards sustainable packaging and materials from manufacturers. Hence, fostering the flexitanks sales.
Furthermore, increasing production of chemicals and oil has prompted the manufacturers to invest in cheaper and reliable transportation and packaging solutions. Therefore, stimulating the demand for flexitanks in upcoming years.
“Recovery in food and chemical industry is likely to provide momentum to flexitanks sales through 2031. Manufacturers rising preference towards sustainable materials such as high grade bio-degradable plastics to create lucrative growth opportunities,” says a Fact.MR analyst.
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Key Takeaways
- Manufacturers to prefer multi trips flexitanks over single trip flexitanks
- Increased application in U.S. packaging industry to fuel flexitanks sales
- Two fold packaging manufacturing industry workforce to spearhead the UK market growth
- Germany to witness high growth in the oils and chemicals segment, attributed to the growing emphasis on chemical oil production
- India to emerge as a lucrative market amid burgeoning agricultural industry
- China to flourish as a largest manufacturer by 2030, widening flexitanks growth prospects
- By application, food transportation & logistics to retain their dominance
Prominent Drivers
- Increased food wastage and improper transportation to bolster the flexitanks demand
- Demand for sustainable transportation and enhanced food longitivity during transit to create growth opportunities for manufacturers
Key Restraints
- Availability of low quality flexitanks likely to create a restrain in the growth
- Irregularity in cost of raw materials to hamper the flexitanks market growth
Discover more about the flexitanks market with 132 figures and 25 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/5664/flexitanks-market
Competitive Landscape
JF Hillebrand, Full-Pak, K Tank Supply Ltd., Qingdao BLT Packaging Industrial Co. Ltd., Bulk Liquid Solutions Pvt. Ltd., KriCon Group BV, Mak & Williams Flexitank Supply Ltd., TRUST Flexitanks, SIA FLEXITANKS, My FlexiTank (MYF), and Trans Ocean Bulk Logistics Ltd are some of the key players profiled by Fact.MR. Leading players are inclined towards using key strategies such as adoption of sustainable packaging to create growth opportunities.
For instance, in 2018, World Distribution Services (WDS) announced that it is offering full-service flexitanks fitting and bulk liquid drayage in Cleveland to support growing client and market demand. The logistics and the producers added the infrastructure to provide flexitank installation services to clients seeking bulk liquid export to USDA container cleaning services.
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More Valuable Insights on Flexitanks Market
In its latest report, Fact.MR offers an exhaustive analysis on the global flexitanks market. The study divulges essential insights on the Flexitanks market on the basis of product (single trip and multi trip), application (food, wines & spirits, oils, chemicals, industrial products, and pharmaceutical good), and key regions (North America, Europe, Central & South America, Asia Pacific, and MEA).
Key Questions Covered in the Report
- Which countries will account for the largest market share?
- Which are most lucrative flexitanks?
- What will be the key drivers for the flexitanks market?
- Why is demand for flexitanks in food transportation accelerating?
- Which are the prominent players operating in the flexitanks market?
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