The Future Of The Flexitank Market 2023
Flexitanks are being readily used in the recent times. With the current trend, the use of flexitanks is expected to rise much higher. The immense popularity of the flexitanks is owing to the fact of the immense functionality of the flexitanks and the huge number of benefits offered. With the improvement of technology, it is expected that the flexitanks might undergo further modification in terms of improvement in quality as well as functionality.
According to a new research report, it is expected that the flexitank market is all set to be worth about 912 million dollars by the year 2023. The reports suggest that the market of flexitank is all ready to grow from 366 million dollars in the year 2018 to 912 million dollars by the year 2023. The overall growth in the market of flexitank can be attributed the rise in the global trade of beverages. This is because of the fact that the flexitanks are ideally suited for the transportation of bulk liquids. In an addition to this, the flexitanks as compared to their traditional substitutes like drums or the ISO tanks are much more beneficial in almost all aspects.
Competitive Advantages Offered
The flexitank container offer a number of competitive advantages as compared to its traditional substitutes such as ISO tanks, barrels, drums and IBCs are as follows.
- Foldability
- Portability
- Strength
- Cost effectiveness
- No contamination
- Thermal insulation
- Ease and convenience of use
Nowadays, the transporters of different liquids are looking forward to the portability of liquids along with very flexible storage option. This is exactly what the flexitanks provide them with and hence the rising popularity of the flexitanks. In an addition to this, the flexitanks contain about more than 31 percent more liquid as compared to any other containers. This is the reason as to why different industries as well as the transporters are considering the use of flexitanks for the transportation of bulk liquids at a much lower cost of transportation. This clearly indicates the growth of the flexitanks market over time.
Multilayer Flexitanks – The Faster Growing Segment
One of the major challenges in the logistics industry is the availability of neat, clean and undamaged containers. If the inner walls of the flexitanks are scrapped, they can puncture which has put forward the need of flexitanks with multiple layers. Several conditions of the environment like cold, heat, humidity and fluctuations in the temperatures might have a serious effect on the inner contents of the flexitanks particularly at the time of transportation of food grade liquids. This has resulted in the boosting up of the demand of the multilayer flexitanks.
Bottom Loading Flexitanks is a Faster Growing Market
The top loading flexitanks was in higher demand for the transportation of food grade liquids and non hazardous liquids or chemicals. But the loading and unloading of the top loading flexitanks come with a number of difficulties. But on the other hand, the bottom loading flexitanks overcome these challenges since it has two valves present, one for loading and the other for unloading. The bottom loading flexitanks need much less labour and cost along with requiring less time for completion of the work as compared to the top loading flexitanks. Now, for this reason, the demand for the bottom loading flexitanks are is higher demand and hence its market is all set to grow more.
APAC Flexitanks Market is Fastest Growing
The flexitanks market of the Asia Pacific or APAC region is actually the fastest growing segment in the overall market. This rapid growth is attributed to the increased production as well as transportation of several food grade liquids. In particular, the growth in the production of chemicals particularly in China and Japan is expected to bring about the growth in the flexitanks market.
So, at this point of time, it is quite clear as to how rapid is the demand for the flexitanks which is all set to rise to a great extent thereby the forecast of 912 million dollars flexitanks market by the year 2023.
