The global flexitanks market is expected to reach USD 1.49 billion by 2024, according to a new report by Grand View Research, Inc. Increasing commodity export, particularly in Asia Pacific, is expected to foster flexitanks demand over the forecast period. Cost-effective and efficient nature of flexitanks has increased product popularity among the end-users. Flexitanks can carry more amount of liquid in a standard container than the ISO tanks or drums used for bulk transport traditionally.
Single trip was the leading product segment and accounted for over 90% of total market volume in 2015. Single trip flexitanks are very much cost-effective compared to multi-trip flexitanks, as they eliminate cleaning and repositioning costs incurred. Green logistic practices incorporated by most of the flexitank manufacturers and logistics providers ensure proper disposal of used flexitanks without causing any environmental ill-effect.
Virtually, flexitanks can be utilized for any liquid and semi-solid food material. This has helped higher flexitank penetration in the foodstuffs application segment. Higher operational benefits and cost-effectiveness have made flexitanks an attractive alternative.
China and South East Asian countries have become the prominent manufacturing hubs for key manufacturers in the world. Huge foodstuffs & chemicals’ export from Asia Pacific & North America is expected to push flexitanks demand to greater heights over the forecast period.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/flexitanks-market
Further key findings from the report suggest:
·
Global flexitanks market demand was 984,000
units in 2015 and is expected to reach 4,928,106 units by 2024, growing at a
CAGR of 18.6% from 2016 to 2024
·
Foodstuffs were the leading application segment
and accounted for over 30% of total market volume in 2015. Easy availability of
FDA approved flexitanks in all regions has been a major factor for its
increased penetration.
·
Chemical is expected to be the fastest growing
application segment at an estimated CAGR of 19.0% from 2016 to 2024. The growth
can be attributed to increasing popularity of flexitanks along with the fact
that all non-toxic liquid chemicals can be transported using flexitanks.
·
Asia Pacific emerged as the leading regional
market and accounted for over 60% of the total volume in 2015. Increasing
commodity trade along with higher market penetration is expected to spur the
regional market growth over the next seven years. The region is also expected
to witness the fastest growth over the forecast period.
·
Key market participants operating in the global
flexitanks market include Environmental Packaging Technologies Inc., Qingdao
LAF Packaging Co. Ltd., Trans Ocean Bulk Logistics Ltd, and SIA Flexitanks Ltd.
Read detailed report or request for sample of this research report: - http://www.grandviewresearch.com/industry-analysis/flexitanks-market/request
Grand View Research has segmented the global flexitanks market on the basis of product, application and region:
Flexitanks Product Outlook (Volume, Units; Revenue, USD Million, 2014 - 2024)
·
Single-trip
·
Multi-trip
Flexitanks Application Outlook (Volume, Units; Revenue, USD Million,
2014 - 2024)
·
Foodstuffs
·
Wine & Spirits
·
Chemicals
·
Oils
·
Industrial Products
·
Pharmaceutical Goods
Flexitanks Regional Outlook (Volume, Units; Revenue, USD Million,
2014 - 2024)
·
North America
·
U.S.
·
Europe
·
Germany
·
France
·
U.K.
·
Belgium
·
Netherlands
·
Asia Pacific
·
China
·
India
·
Singapore
·
Middle East & Africa
·
Central & South America
·
Brazil
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more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/automotive-and-transportation
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