Report Code: A15843 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Flexitank Market
Request Now !The flexitanks market is expected to grow at a rapid pace in the coming years. Flexitank is a light, disposable bladder that is often composed of plastic. The product is often used for the transportation of non-hazardous liquid materials in shipping containers. Flexitanks, also known as flexibags, are constructed up of multilayers of polyethylene and an outer layer of woven polypropylene, and are commonly used to carry products such as juices, wines, non-hazardous chemicals, and other materials across international borders. Advances in materials used to make flexitanks are anticipated to lead to a greater use of the product. The beneficial qualities of the material utilized in manufacturing are responsible for the product's rising applications. The strict criteria linked with the usage of this product, established by groups such as the Container Owners Association (COA), will ensure the product's safety, resulting in a greater adoption of the product around the world. Flexitanks are installed in an ocean container, allowing shippers to transport bulk liquid items in a more cost-effective and healthier manner. These tanks are built of custom-formulated blended polyethylene and are used to transport a variety of liquid foodstuffs. Flexitanks are a dynamic, flexible, secure, and cost-effective bulk liquid transportation option. They are manufactured in standard sizes, ranging from 10,000 liters to 24,000 liters.
COVID-19 Impact Analysis
Top Impacting Factors
The market's demand is being fueled by the increase in the trade of food-grade liquids and pharmaceutical liquids. Furthermore, the market is driven by the competitive advantages of flexitanks over traditional alternatives. The rise in the industry of exporting beverages globally fuels the expansion of the flexitank market. Thus, businesses see flexitank as an ideal alternative for lowering transportation expenses, which fuels the demand for flexitanks.
However, factors such as leakage or fracture of the contents in flexitanks result in a total loss for the shipper, which may impede the product's use for hazardous liquid transportation, thereby limiting market growth. Furthermore, fluctuating pricing of plastic resins, which are used to make flexitanks, are projected to be a burden for industry participants. The increase in customer knowledge of benefits provided by flexitank is expected to propel the market forward in the coming years. Furthermore, the rise in demand for oil and food commodities globally is expected to propel the economic world in the coming years. The expansion of the flexitank market during the forecast period is defined by an increase in green logistics practices as a result of government tight rules and the growing environmental concerns.Â
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