Published Date : Jun 06, 2018
ALBANY, New York, June 6, 2018 –MarketResearchReports.biz has announced the addition of a new report titled “Flexitanks Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018–2026”. The in-depth study on the global flexitanks market evaluates key elements of dynamics, emerging trends, lucrative avenues, factors expected to drive the prominent segments, and the competitive landscape.
The global flexitanks market is projected to expand at a robust CAGR of around 14% during the forecast period from 2018 to 2026. The staggering rise in volumes of production of edible liquids and drinks is a primary factor driving the market. The surge in export of water used for drinking or in the beverage industry is a notable factor bolstering the demand for flexitanks. The rise in production and exports of liquids rides on the back of burgeoning population in various parts of the globe.
In the recent year, there is staggering rise in demand for various types of edible oil in countries such as Indonesia, China, India, Thailand, Brazil, and Malaysia. This is propelling the growth of the market. The demand for flexitanks is also propelled by their rising usage in transporting fruit juices, industrial liquids, sweeteners, and agricultural liquids.
Of all the various types of flexitanks used, presently the multilayer segment leads on account of them being cost-effective for transporters and several other advantages over monolayer and bi-layer tanks.
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On the regional front, Europe and Asia Pacific are prominent markets for the uptake of flexitanks. Asia Pacific held the major share in the global market in 2017. The swift pace of infrastructural developments in its several emerging economies is presenting substantial lucrative avenues to market players in the region over the forecast period. Over the past few years, the region has witnessed surge in demand for lubricants, paints, and inks and a range of non-hazardous chemicals. This is a notable factor boosting the regional market and adding to the global revenues.
The rise in production of wine in several European countries is also accentuating the demand for flexitanks. However, there are few downsides impeding the growth of the market. The substantial loss of liquid from leakage and pilferage in cargo every year is a notable concern hampering the growth of the market. However, employing adequate technical expertise to load and unload cargo transported in flexitanks will help allay the concern.
Moreover, the usage of flexitanks has gathered popularity for the transportation of bulk quantities of products, which proves significantly economical for businesses. The rapid pace of industrial expansion in emerging economies world over will account for the surge in production of industrial liquids, thus catalyzing the market’s growth.
The global flexitanks in characterized by a moderate level of consolidation. Several top players are actively engaged in expanding the flexitanks production capacity, in order to consolidate their positions in the market.
Some of the leading players operating in the market are Qingdao Global Flexitank Logistics, Trust Flexitanks, Braid Logistics UK, and Trans Ocean Bulk Logistics Ltd.
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