Flexitanks Market: An Eco-Friendly Choice for Packaging and Transportation
The global flexitanks market is experiencing a significant surge in demand, driven by a growing need for cost-efficient, lightweight, reusable, and customizable packaging solutions. Flexitanks, such as those offered by industry leaders like SIA Flexitanks, have become increasingly popular across various industries due to their convenience, eco-friendly features, and superior payload capacity. Compared to traditional alternatives like IBCs, bottles, and drums, flexitanks provide a 15%, 50%, and 44% increase in payload capacity, respectively, making them an ideal choice for storage and transportation needs.
Rising Shipping Costs Drive Demand
The escalating volume of international trade has brought with it a sharp increase in shipping costs. According to the World Trade Organization, global trade in 2019 exceeded US$25 trillion, with manufactured goods accounting for 70% of that figure. This surge in trade volume has led to significant rises in shipping expenses, impacting businesses across various sectors, including e-commerce giants like Amazon, which reported a 46% increase in shipping costs in 2019. Furthermore, businesses in the United States spent over US$1.6 trillion on logistics in 2018, marking an 11.4% increase from the previous year. In light of these cost challenges, companies are actively seeking more affordable and cost-effective packaging and transportation solutions, thus driving the demand for flexitanks.
Sustainability Boosts Flexitank Adoption in the Food Industry
The issue of food wastage during transportation is a global concern, with approximately 33% of food worldwide going to waste each year, according to the U.S. Department of Agriculture. A significant portion of this wastage occurs due to inadequate transportation practices, resulting in food loss estimated at 14% during transit, as reported by the Food and Agriculture Organization. To combat this problem, food manufacturers are increasingly turning to sustainable storage and transportation solutions, with flexitanks emerging as a preferred choice in the food industry.
High-Capacity, Low-Weight Solution for Oil and Chemical Transportation
The maritime industry has witnessed moderate growth in seaborne transportation, leading to an increase in oil and chemical spills in international waters. Inefficiencies in storage during transit, often caused by the weight of traditional containers made from alloys and metals, have contributed to these spills. To address this issue, the use of high-capacity, low-weight solutions like flexitanks is on the rise, offering a new growth opportunity in this sector.
North America and Asia Pacific Lead the Way
North America is poised for significant growth in the flexitanks market, driven by the increasing demand for flexible packaging. In the United States alone, flexible packaging sales reached US$33.6 billion in 2019, reflecting a continuous upward trend. The region’s favorable government policies and the presence of diverse industries further bolster the outlook for flexitanks.
In the Asia Pacific, particularly in emerging economies like India and China, a strong inclination toward sustainable packaging solutions, such as flexitanks, has been observed. For instance, India’s agri-product exports have played a pivotal role in propelling the flexitanks market in the region. With substantial potential for growth in these emerging economies, flexitank manufacturers are well-positioned to capitalize on this trend.
Key Players in the Global Flexitanks Market
Prominent players in the global flexitanks market include Bulk Liquid Solutions, Braid Logistics, SIA Flexitanks, Environmental Packaging Technologies, and Trans Ocean Bulk Logistics.
The flexitanks industry is poised for remarkable growth as it continues to address the evolving needs of cost-effective, sustainable, and efficient packaging and transportation solutions in an ever-expanding global market.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/flexitanks-market
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