Global Flexitanks Market 2017-2021
Flexitank is a bag used to transport non-hazardous and non-viscous (less than 1.6 specific gravity) bulk liquid cargos through ordinary 20 ft containers. Flexitanks are made up of a single layer or multilayer polyethylene or polyvinyl chloride. They can hold around 11,000-25,000 liters of liquid substances, such as industrial oils, food stuffs, and non-hazardous chemical liquids. The container that carries the filled flexitanks should have a gross weight of around 28-32 metric ton and age of five years or below. The loading and unloading of flexitanks take place with the help of a pump and usually take 15-30 minutes depending on the size of the cargo and the pump. All flexitanks should be filled more than 96% of their capacity to avoid the risks caused by the hydraulic surging of liquid substances.
Technavio’s analysts forecast the global flexitanks market to grow at a CAGR of 15.63% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global flexitanks market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of flexitanks.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Flexitanks Market 2017-2021
Technavio recognizes the following companies as the key players in the global flexitanks market: Environmental Packaging Technologies, MY FlexiTank, Qingdao LAF Packaging, SIA Flexitants, and Trans Ocean Bulk Logistics
Other Prominent Vendors in the market are: BeFlexi, BLT Flexitanks Industrial, Bulk Liquid Solutions, Mak & Williams Flexitanks Supply Limited, and Rishi FIBC Solutions.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Innovation in flexitanks. By understanding the market demand for flexitanks, many research organizations and vendors are analyzing to expand the applications of flexitanks. In simple terms, the increased market opportunities are bringing innovation to the global flexitanks market.”
According to the report, one of the major drivers for this market is Growing demand for edible oil in Asian countries. More than half of the global edible oil demand comes from Southeast Asia. Sunflower oil, peanut oil, coconut oil, soybean oil, and palm oil are types of edible oils that witness high demand from the consumers. The food consumption patterns, along with the rising population are major factors leading to the growth of the edible oil market in this region.
Further, the report states that one of the major factors hindering the growth of this market is High investment. 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.
Environmental Packaging Technologies, MY FlexiTank, Qingdao LAF Packaging, SIA Flexitants, Trans Ocean Bulk Logistics, BeFlexi, BLT Flexitanks Industrial, Bulk Liquid Solutions, Mak & Williams Flexitanks Supply Limited, and Rishi FIBC Solutions.