Flexitanks Market Review and Outlook, Overview and Segment Forecasts to 2022

The global flexitanks market is expected to reach USD 922.3 million by 2022, according to a new study by Grand View Research, Inc. Cost advantage offered by bulk shipping has compelled most of the shippers to look for bulk packaging solutions. Flexitanks being the most cost effective liquid bulk packaging solution has gained more popularity than its counterparts such as ISO tanks and barrels. Increasing need for efficient, flexible storage and portability of liquids has considerably driven the global flexitanks market. Other advantages such as foldability, portability and easy setup have fueled flexitanks demand over past few years.

Risks associated with bulk fluid transfer include leakage of contained products that subsequently results in cleanup activities. Flexitanks are subject to pressures from container walls while on long distance routes during rail and ship transport of cargoes. Although these products are manufactured in accordance with environmental legislations, risks associated with leakage incidents still exist.

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Single-trip flexitank as the leading product segment and accounted for 94.8% of total market volume in 2014. Curtailment of cleaning and repositioning cost is expected to remain key driving factors for this segment over the forecast period. Single-trip flexitanks are also expected to witness the highest growth over the forecast period.

Further key findings from the study suggest:

Global flexitanks market demand was 800,000 units in 2014 and is expected to reach 3,135,791 units by 2022 growing at a CAGR of 18.6% from 2015 to 2022

Foodstuffs were the leading application segment and accounted for over 30% of total market volume in 2014. 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...