Zion Market Research, The Market Research Group Announced The Analysis Report Titled "Flexitanks Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2018–2026"

Sarasota, FL -- (SBWire) -- 11/26/2018 --Global Flexitanks Market: Overview

Flexitanks are cost-effective solutions compared to ISO tanks & drums, owing to these factors, market players consider this as an essential alternative for saving transportation cost for non-hazardous liquids. No repositioning costs, low labor and loading costs are some of the factors which make this product an efficient option for bulk fluids to be transported to remote destinations.

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Global Flexitanks Market: Growth Factors

Increasing demand for flexible storages coupled with rising concerns regarding portability of liquids are the primary factors driving the industry growth. Competitive advantages such as foldability, cost-effectiveness, portability along with ease of set up are projected to bolster demand for flexitanks market at a brisk pace over the forecast period.

Significant demand for foodstuffs and oil along with rising consumer awareness regarding benefits of flexitanks is expected to attract a new customer base. The factor of economic downfall is pushing end users to evaluate a cost-efficient mode of transportation. Government investments coupled with the incorporation of green logistic practices is likely to drive demand for the flexitanks market.

Sophisticated methods of transportation helps to push market participants to get inclined towards bulk shipping as it considerably reduces carrying costs. Rising trend of bulk transport is projected to foster the flexitanks market over the forecast period.

Global Flexitanks Market: Segmentation

The global flexitanks market can be divided based on product type and application type. On basis of product type, the overall flexitanks market is divided into Single-Trip and Multi-Trip. Based on the application, flexitanks market is segmented into Foodstuffs, Wine & Spirits, Chemicals, and Oils.

Global Flexitanks Market: Regional Analysis

Based on regions, the global flexitanks market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is expected to be the fastest growing local market which accounted for 61% of the total volume share in 2015. The region is expected to reach 67.4% of the overall market share by 2024 owing to rapid industrialization and commodity export from countries like Thailand, Malaysia, Indonesia, India, China, and Vietnam.

Increasing production of industrial products along with growing demand from industries such as food & beverage, pharmaceutical, and chemical are probable to increase the demand for flexitanks across the globe. Asia Pacific being manufacturing hub for chemicals and industrial products high rate of commodity exports from this region has driven the market for single trip flexitanks.

Europe accounted for approximately 14.6% of the market in 2015 by volume. It is the primary exporter foodstuff and wine. The Netherlands, Denmark, and Spain are the major exporters of numerous foods such as fruit juices, olive oil, and malt extracts. The growing industrial and chemical production in UK and Germany has driven the demand for flexitanks from chemicals and oils application segments. Being cost effective mode of transportation, flexitanks demand is expected to grow in all the regions.

The increasing export of lubricants and lubricating oils is expected foster flexitanks demand in the region. The shale gas boom in the U.S. attracted many petrochemical manufacturers to set up their manufacturing plants in the country.

Global Flexitanks Market: Competitive Players

The key market players of the global flexitanks market include Qingdao LAF Packaging Co. Ltd., Environmental Packaging Technologies Inc., TransOcean Bulk SIA Flexitanks Ltd, Logistics Ltd, Bulk Liquid Solutions, BLT Flexitank, MY FlexiTank, KriCon Group BV, Mak & Williams, and Trust Flexitanks.

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Global Flexitanks Market: Regional Segment Analysis

North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa