Global Flexitank Market To Record Double-Digit Growth Over 2020-2026 – ZMR
Global Flexitank market, which is likely to accrue revenue of nearly 1.21 (USD Billion) by 2026, will register a CAGR of nearly 21% during the period from 2020 to 2026.
As per Zion Market Research, the global flexitank market is expected to cross USD 1.21 billion by 2026, with a 21% CAGR over 2020-2026. Development in the global trade of non-hazardous chemicals, food-grade liquids, and pharmaceutical liquids is the primary booster for the global market. In addition to this, its competitive advantages over other conventional substitutes power the growth of flexitank market.
Major players active in the global market are Bulk Liquid Solutions, Braid Logistics, SIA Flexitanks, Environmental Packaging Technologies, and Trans Ocean Bulk Logistics.
The Multilayer Category To Power The Flexitank Market And Expected To Be The Quickest-Developing Type Category
The multilayer type category added up for the biggest share and predicted to clock the max CAGR by 2025. This category has high-performance advantages over the monolayer category. These advantages are its strength and durability which are extremely needed when flexitanks are carried using old containers. In addition to this, flexitanks have various layers that defend the cargo from being contaminated. Its moisture and oxygen barrier characteristics are important for the transport of food-grade liquids. These advantages power the global market for flexitank.
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Food-Grade Liquids Application Category Expected To Clock The Maximum CAGR In The Years To Come
Food grade liquids such as juice concentrates, juice, animal oils, wine, glucose, edible oils, jam, glycerin, sauces, malt extract, vinegar, sorbitol, sugar syrup, and water are traded in huge quantities all over the world. These liquids are sold all over all the areas. For instance, apple juice and edible oils are exported hugely from the Asia Pacific area. Juice concentrate, fruit juice, and wine are exported from South America, North America, and Europe. Hence, flexitank finds worldwide requirement in the food-grade liquid segment.
Asia Pacific Expected To Be The Biggest Market In The Years To Come
Asia Pacific has the biggest populous nations such as India and China. Japan, China, Indonesia, South Korea, India, and Malaysia are the primary user markets for flexitanks. Hong Kong, China, Singapore, Australia, and New Zealand are amongst the leading 15 wine exporters. The attendance of this big wine exporting sector all over the area is approving for the requirement for flexitanks. In addition to this, in palm oil exports, Malaysia, Indonesia, and Thailand power the global market with biggest exports. Malaysia and Indonesia are the top two biggest palm oil exporting nations all over the world. Across Asia Pacific, the bulk of the flexitank requirement is powered by exports of food-grade liquids.
The global flexitank market is segmented as follows:
by Loading Type:
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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