Flexitank Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Loading Type and, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

COVID-19 Impact Analysis

• The COVID-19 pandemic had a negative impact on the flexitanks market and caused a decline in the growth of the market.
• Due to the disease's rapid spread, governments globally put in their best efforts to stop it and reduce its negative consequences. So, lockdowns were imposed, which caused the shut down of all industries and impacted the fexitank market.
• Transportation of industrial items slowed down, which attributed to government-imposed shutdowns intended to enforce social separation standards.
• Furthermore, the suspension of commercial activity resulted in a reduction in global transaction volumes, with only critical commodities like food and pharmaceuticals being transferred.
• The interruption in supply chain and the availability of raw material were shortened, which affected the production activity and caused the plant operation capacity to be reduced.
• The economic activities were stopped and no new development and research were done in the flexitanks market during the pandemic.
• The fexitank market is expected to grow with lockdown restriction uplifted and the production activity ramping up. 

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. 

Market Trends

• VTG Tanktainer GmbH announced the addition of fexitank to its line of liquid products transportation facilities in January 2020. The corporation took this step to provide its consumers with a variety of cost-effective transportation options. 
• SIA Asia, a subsidiary of SIA Flexitanks, underlined its development in the Asia-Pacific region in September 2019 by building a new office and warehousing facility in Malaysia. The facilities are expected to assist the company by allowing it to provide more efficient services to consumers in the region and expanding its footprint across Asia-Pacific. 
• With the creation of Braid Japan Co., Ltd. in October 2018, Braid Logistics expanded its global network in Japan. The company will be able to serve to the Japanese export market as well as grow its reach across the Asia-Pacific market as a result of this expansion. 
• BeFlexi announced the expansion of its shipping operations in Australia and Ecuador in June 2018. In Asia-Pacific and Latin America, the company already has a well-established network.
• Pharmaceutical liquid is in high demand as the healthcare sector expands, particularly in emerging markets. Flexitanks also prevent liquid contamination, which is critical for pharmaceuticals. The market for flexitanks in pharmaceutical liquids is being propelled by an increase in product export.