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Flexitanks Market Size

  • Report ID: GMI6319
  • Published Date: Jul 2023
  • Report Format: PDF

Flexitanks Market Size

Flexitanks Market size was worth USD 955 million in 2023 and is expected to record a CAGR of over 20.1% during 2024 and 2032, owing to strict carbon footprint laws and focus on adopting sustainable practices across the sectors. For instance, the EU has the Carbon Border Adjustment Mechanism (CBAM) that aims to prevent carbon leakage by applying a carbon price to imports of certain goods based on their carbon content.

 

The shift toward sustainable and eco-friendly packaging solutions has played a crucial role in driving the adoption of flexitanks. As environmental concerns intensify, businesses are seeking ways to reduce their carbon footprint and promote sustainable practices throughout their supply chain. Flexitanks, being lightweight and producing less waste compared to traditional packaging options like drums or ISO tanks, are gaining popularity across the sectors. Moreover, the product offers a significantly lower upfront cost and reduced operational expenses, making it an attractive option for businesses looking to optimize their supply chain and transportation costs. The focus among companies to maximize storage capacity and minimize handling & cleaning expenses while ensuring the safe & efficient transportation of liquids will boost the growth of flexitanks industry.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for flexitanks was worth 955 million in 2023 and is expected to record a CAGR of over 20.1% during 2024 and 2032.

The single trip segment of flexitanks industry accounted for a revenue share of 73% in 2022 and is poised to grow notably through 2032, due to its convenience and reduced risk of cross-contamination between different liquid shipments.

North America flexitanks value estimated at over USD 373 million in 2022 and is projected to showcase impressive growth through 2032, owing to the demand for sustainable packaging solutions in the region and the growing emphasis on optimizing supply chain logistics.

SIA Flexitanks, Bulk Liquid Solutions, Environmental Packaging Technologies (EPT), Trust Flexitanks, BeFlexi, Mak & Williams Flexitank Supply Limited, Qingdao LAF Packaging Co., Ltd., and Rishi FIBC Solutions Pvt. Ltd. among others.

Flexitanks Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 137
  • Countries covered: 20
  • Pages: 120
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