The flexitanks market share is expected to increase by USD 1.57 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 16.17%.
This flexitanks market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers flexitanks market segmentations by application (industrial, food, chemical, and others) and geography (APAC, North America, Europe, MEA, and South America). The flexitanks market report also offers information on several market vendors, including Hinrich Industries, JF HILLEBRAND GROUP AG, MYFlexitank Industries Sdn Bhd, Neoflex Logistics Services Industrial Packing SA, Philton Polythene Converters Ltd., Qingdao LAF Packaging Co. Ltd., Rishi FIBC Solutions Pvt. Ltd., SIA Flexitanks, Sun FlexiTanks, and Techno Group among others.
What will the Flexitanks Market Size be During the Forecast Period?
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Flexitanks Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing demand for edible oil in asian countries is notably driving the flexitanks market growth, although factors such as high investments may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the flexitanks industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Flexitanks Market Driver
One of the key factors driving the flexitanks market growth is the growing demand for edible oil in Asian countries. Edible oils such as sunflower oil, peanut oil, coconut oil, soybean oil, and palm oil are in high demand among consumers. The rising edible oil demand in Asian countries will boost the demand for flexitanks. This is due to the fact that flexitanks save money and space for shippers and edible oil producers. For instance, four containers full of the edible oil-filled drum are equal to three containers of edible oil-filled flexitanks. The instance above enables shippers or edible oil makers to transport larger amounts of edible oil in fewer containers. As a result, flexitanks enhance cargo space while lowering container needs. Furthermore, manufacturers can pack and store edible oil in warehouses prior to shipping utilizing flexitanks. These useful properties of flexitanks in oil transporting are expected to increase its demand among edible oil manufacturers and shippers in Asian countries.
Key Flexitanks Market Trend
Another key factor driving the flexitanks market growth is the increasing developments in global flexitanks market. Flexitanks are a frequent form of transportation for suitable liquids that are considered non-dangerous. New competitors have entered the market as a result of increased market prospects and expanding demand for flexitanks in various applications. For instance, Hillebrand launched a new flexitank in October 2020 that was built specifically for transporting high-density liquid materials in bulk that tend to split and solidify during transportation. Several partnerships for business growth, innovations, and product development are also taking place in the target market. For example, Trust Flexitanks, a leading European manufacturer of flexitanks for the transport of bulk liquids, stated in 2019 that it has formed a relationship with ECO CIRCLE BV, a liner plastics collector established in the EU, to recycle flexitanks and bulk liners. Such developments in the global flexitanks market will contribute to the growth of the market in focus during the forecast period.
Key Flexitanks Market Challenge
One of the key challenges to the flexitanks market growth is the high investments. The initial investment required for setting up a flexitanks manufacturing unit is quite high. In addition to the equipment, the periodic raw material purchasing cost will also affect the operational flow of the flexitanks manufacturers. The expense of purchasing raw materials and machinery is considerable. As a result, small vendors prefer to use low-quality materials to create flexitanks rather than high-quality ones. Many low-grade products enter the market as a result of the increased market opportunity and expensive initial investments. Furthermore, there are no clear standard manufacturing norms for flexitanks. All of these flaws are increasing the influx of low-quality items into the worldwide flexitanks industry. To address these concerns, proper manufacturing standards for flexitanks should be adopted, and market consolidation is proposed to improve small vendors' product quality by incorporating current and advanced technologies from large vendors.
This flexitanks market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global flexitanks market as a part of the global air freight and logistics market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the flexitanks market during the forecast period.
Who are the Major Flexitanks Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Hinrich Industries
- JF HILLEBRAND GROUP AG
- MYFlexitank Industries Sdn Bhd
- Neoflex Logistics Services Industrial Packing SA
- Philton Polythene Converters Ltd.
- Qingdao LAF Packaging Co. Ltd.
- Rishi FIBC Solutions Pvt. Ltd.
- SIA Flexitanks
- Sun FlexiTanks
- Techno Group
This statistical study of the flexitanks market encompasses successful business strategies deployed by the key vendors. The flexitanks market is fragmented and the vendors are deploying growth strategies such as focussing on technology, quality, and market presence to compete in the market.
Product Insights and News
- Hinrich Industries - The company offers HR FLEXITANK which are used to transport non-hazardous liquid products.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The flexitanks market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Flexitanks Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the flexitanks market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Flexitanks Market?
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59% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for flexitanks market in APAC. Market growth in this region will be faster than the growth of the market in Europe and South America regions.
The rise in tea production will facilitate the flexitanks market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 severely affected the global supply chains. Several industrial and commercial activities were halted, owing to the lockdown measures implemented by the governments of countries across the region to ensure public safety. Furthermore, restrictions on the movement of materials and goods due to the outbreak led to supply chain disruptions in 2020. However, the increasing government impetus for various industries, such as chemical, food and beverage, and consumer goods, in the region is expected to fuel the demand for flexitanks during the forecast period.
What are the Revenue-generating Application Segments in the Flexitanks Market?
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The flexitanks market share growth by the industrial will be significant during the forecast period. The flexitanks are used extensively for transporting industrial goods. The list of industrial items that are approved by COA for transportation via flexitanks includes lubricating oil additives, natural and synthetic latex, hydraulic fluids, engine oils, and other lubricating oils. The rapid industrialization across these regions is the major reason for the growth of the global lubricants market. This growth in the demand for lubricants will drive the demand for flexitanks across all the regions during the forecast period..
Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the flexitanks market size and actionable market insights on post COVID-19 impact on each segment.
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Flexitanks Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 16.17% |
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Market growth 2021-2025 |
$ 1.57 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
15.94 |
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Regional analysis |
APAC, North America, Europe, MEA, and South America |
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Performing market contribution |
APAC at 59% |
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Key consumer countries |
China, India, US, UK, and UAE |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Hinrich Industries, JF HILLEBRAND GROUP AG, MYFlexitank Industries Sdn Bhd, Neoflex Logistics Services Industrial Packing SA, Philton Polythene Converters Ltd., Qingdao LAF Packaging Co. Ltd., Rishi FIBC Solutions Pvt. Ltd., SIA Flexitanks, Sun FlexiTanks, and Techno Group |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Flexitanks Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive flexitanks market growth during the next five years
- Precise estimation of the flexitanks market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the flexitanks industry across APAC, North America, Europe, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of flexitanks market vendors
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