Asia Pacific Flexitank Market Size, Share & Trends Analysis Report By Type (Single Trip, Multi-trip), By Application (Foodstuffs, Wine & Spirits, Oils), By Country,- Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2033

Asia Pacific Flexitank Market Size and Growth

The Asia Pacific flexitank market size was exhibited at USD 513.75 million in 2023 and is projected to hit around USD 4,746.53 million by 2033, growing at a CAGR of 29.9% during the forecast period 2024 to 2033.

Asia Pacific Flexitank Market Key Takeaways:

• The Chemicals segment dominated the market and accounted for the largest revenue share of 28.3% in 2023.
• The Foods stuff segment held a significant market share in 2023.
• The Multi-trip segment accounted for the largest market share of 80.0% in 2023.
• The Single-trip segment held a significant market share in 2023.

Report Scope of Asia Pacific Flexitank Market

This growth rate is attributable to the regions two biggest agricultural producers and consumers, China, and India, being present. In addition, because manufacturing costs are lower in China and India, several major US and European corporations have begun outsourcing their production operations to these nations. Thus, during the forecasted period, it is anticipated that the region's need for flexitanks will rise due to the possible growth of the food industry.

A type of equipment for storing liquids, like water or oil, are flexible tanks, also known as flexi-bags and flexi-tanks. Flexible tanks are lighter, rustproof, foldable, and quicker and simpler to assemble than steel tanks, among their many other benefits. A particular kind of bulk liquid bladder pouch or bag called a flexitank enables shippers to pack a significant volume of liquids into dry containers. Flexitanks are designed to safely store liquid contents. They can hold up to 24,000 liters per bag and are made of numerous layers of flexible yet robust plastic film.

Growing commodities trading and these tanks' superior cost-effectiveness over competitors are key selling points for the industry. Trade in commodities is necessary because of differences in the rates of production and consumption across different geographic regions. One of the main drivers of globalization has been the enormous expansion of international trade over the last several decades. Due to increased international trade, customers have access to a greater variety of products worldwide than they would if they were limited to locally produced goods. A wide range of governmental agencies and international organizations have been established in reaction to the constantly growing movement of capital, goods, and services to assist in managing these quickly evolving trends.

In addition, 60% of the world's population lives in the Asia Pacific region, which is the most populated in the world. It is projected that half of Asia Pacific's population lives in urban areas. Since most urban residents prefer to shop for groceries online, this is projected to drive the online grocery business. Thus, during the projected period, increasing urbanization is anticipated to support the expansion of the food and beverage category. The Asia Pacific region has a strong demand for dairy goods such as cheese, butter, and powdered milk, making dairy products one of the most consumed items in the supermarket sector.

Asia Pacific Flexitank Market By Application Insights

The Chemicals segment dominated the market and accounted for the largest revenue share of 28.3% in 2023. Flexitanks are becoming more and more popular among chemical businesses as a replacement for conventional corrugated packaging because of their low cost, strength, and lightweight. Furthermore, recycled polypropylene, ethylene vinyl acetate (EVA), and polyethylene can be used to make flexitanks for the chemical sector, negating the requirement for 100% virgin polymers. This promotes sustainability and further reduces the product's price. Therefore, during the forecast period, it is anticipated that the widespread use of multi-trip flexitanks in the chemical sector and the growing popularity of recycled thermoplastic polymers for chemical applications will propel the growth of the flexitanks market.

The Foods stuff segment held a significant market share in 2023. This growth is attributed to the rising demand for grocery items and the explosive expansion of retail chains, particularly supermarket & hypermarket chains, in emerging nations. Fruit juices, concentrates, vegetable oils, palm oils, fish oils, edible oils, sorbitol, fructose, coconut oils, egg liquid, malt extract, corn oil, sauces, purees, and bakery & confectionery products are just a few of the products in this segment that need to be transported safely in flexitanks.

Asia Pacific Flexitank Market By Type Insights

The Multi-trip segment accounted for the largest market share of 80.0% in 2023 due to its excellent sustainability rating and capacity for many reuses, which maximizes Total Cost of Ownership (TCO). These big packages are therefore often more efficient in the logistical context. When shipping non-hazardous liquids, multi-trip flexitanks have several benefits. Installation is simple and takes very little time or labor. Because they may be reused, they are eco-friendly. Their multi-layered construction guards against contamination and guarantees product safety. Finally, they are adaptable and can hold a variety of non-hazardous liquids. Multi-trip flexitanks are a practical and affordable option for bulk liquid transportation because of these advantages.

The Single-trip segment held a significant market share in 2023. Bulk liquid transportation can be made more affordable and easier with the use of single trip flexitanks. Their price, adaptability, and ease of installation make them a desirable option for a range of sectors. Businesses can reduce expenses and guarantee effective and dependable product delivery by selecting single trip flexitanks.

Country Insights

China Flexitank Market Trends

The China Flexitank Market accounted for the largest share of 26.4% in 2023 owing to the rapidly growing international trade activities. The market value is further supported by the availability of multiple ports and advantageous shipping facilities. The need for flexitanks in the nation is also influenced by the increased need for industrial, food, and chemical products worldwide. The significant revenue share of the nation is supported by the existence of significant firms in the region, such as Yunjet Plastic Packaging, Hengxin Plastic Co., Ltd., Full-Pak, Qingdao LAF Packaging Co., Ltd., and Qingdao BLT Packing Industrial Co., Ltd. (BLT).

Japan Flexitank Market Trends

The Flexitank market in Japan held a substantial market share in 2023. Supply-side limitations are less of a problem as exports and industrial production have expanded. The state of employment and income has improved, and business investment has increased. Despite the COVID-19 effects, there has been a moderate increase in the consumption of commodities. Several free trade agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), have also been signed by Japan; this is anticipated to increase export growth.

India Flexitank Market Trends

The India Flexitank market witnessed a significant market share in 2023. The market expansion is being aided by the existence of significant local and international flexitank players, including Bulk Liquid Solutions Pvt. Ltd. and Rishi FIBC Solutions (P) Ltd. These businesses provide customized, high-quality, recyclable flexitanks. The Gujarat-based company Rishi FIBC Pvt. Ltd. is an Indian producer of flexitanks with a state-of-the-art, fully integrated manufacturing plant that exports its goods to over 36 nations.

Some of the prominent players in the Asia Pacific flexitank market include:

• Qingdao BLT Packing Industrial Co., Ltd. (BLT).
• Bulk Liquid Solutions Pvt. Ltd.
• Rishi FIBC Solutions Pvt Ltd.
• Infinity Bulk Logistics Sdn Bhd
• ORCAFLEXI SDN BHD
• FLUIDTAINER FLEXITANK Sdn Bhd
• My Flexitank Industries Sdn. Bhd.
• Global Barrels Industries Pte Ltd
• Singapore Tank Supply Limited.
• AZUMA SHIPPING CO., LTD.

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Asia Pacific flexitank market

Type

• Single-Trip
• Multi-Trip

Application

• Food Stuffs
• Wine & Spirits
• Chemicals
• Oils
• Industrial Products
• Pharmaceuticals Goods
• Others

Asia Pacific Flexitank Market Country

• China
• Japan
• India
• Australia
• Singapore
• Malaysia
• Rest of Asia Pacific