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

U.S. Flexitank Market Size and Trends

The U.S. flexitank market size was exhibited at USD 169.95 million in 2023 and is projected to hit around USD 1,231.28 million by 2033, growing at a CAGR of 21.9% during the forecast period 2024 to 2033.

U.S. Flexitank Market Key Takeaways:

• The industrial products segment dominated the market and accounted for largest revenue share of over 21.0% in 2023.
• The single-trip segment led flexitank market in U.S. and registered largest market share of over 92.0% in 2023.
• The multi-trip segment maintained a substantial market share in 2023.

Report Scope of U.S. Flexitank Market

The growth is attributed to presence of flexitank producers in U.S. such as Environmental Packaging Technologies, Inc. and Techno Group USA. In addition, the growing preference for flexitanks over conventional shipping containers for the delivery of liquid orders is driving flexitank market in U.S.

The capacity of flexitanks ranges from 12,000 to 26,000 liters. A broad variety of liquid goods, including wines, concentrates, fruit juices, edible oils, mineral water, malt extracts, lubricants, tallow, non-hazardous chemicals, fertilizers, and medications, are typically sent using them. In addition, Flexitanks are preferred over conventional tanks by U.S. shipping service providers like InterlogUSA when moving liquid cargo across the nation. Flexitanks offer several advantages over conventional liquid transportation methods. Increased shipping capacity, lower costs in comparison to other bulk liquid transportation, and more availability in comparison to alternative shipping containers are a few of the main benefits.

Some of the biggest pharmaceutical businesses in the world, such as Pfizer, Johnson & Johnson, Eli Lilly and Company, and Abbott Laboratories, are based in the U.S. These businesses favor single-trip flexitanks for shipping temperature-sensitive liquids, which means the U.S. industry has a significant opportunity to develop. Furthermore, the U.S. market's need for flexitanks is being supported by growing need for components such as sorbitol, fructose, coconut oils, corn oil, egg liquid, and malt extract in the food and beverage industry for the production of a range of confectionary and bakery items.

U.S. Flexitank Market By Application Insights

The industrial products segment dominated the market and accounted for largest revenue share of over 21.0% in 2023. Surfactants, detergents, water-based paints, bleaching agents, disinfectants, and additives for improved oil recovery are all included in the industrial product area. Compared to ISO tank containers, flexitanks are less expensive to position and need less manpower to fill, handle, and empty than drums and IBCs. Additionally, single-trip flexitanks are an affordable solution that offer little to no bulk storage. Due to the aforementioned characteristics as well as their capacity to hold 15% and 40% more cargo than IBC and drums, respectively, flexitank demand is anticipated to rise across a range of industrial applications, including plasticizers, paraffin wax, printing inks, emulsions, fertilizers, and natural and synthetic latex.

The chemical segment held a significant market share in 2023. Flexitanks are becoming more and more popular among chemical businesses as a packaging option because of their affordability, robustness, and lightweight compared to standard corrugated packaging. 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 as a whole.

Furthermore, the food stuffs segment witnessed significant market growth in 2023 owing to the growing exports and imports of fruit juices, concentrates, vegetable oils, palm oils, fish oils, edible oils, sorbitol, fructose, coconut oils, egg liquid, malt extract, corn oil, sauces, purees.

U.S. Flexitank Market By Type Insights

The single-trip segment led flexitank market in U.S. and registered largest market share of over 92.0% in 2023. This growth is attributed to the reduced danger of product contamination linked to single-trip flexitanks. Furthermore, their one-time use avoids the inconveniences of cleaning and return logistics, simplifying operations and reducing costs—factors that are expected to further propel market growth and sector demand. The low cost and extensive availability of single-trip products are expected to keep the category-leading throughout the projected period.

The multi-trip segment maintained a substantial market share in 2023, owing to its high ranking on the sustainability front and ability to be reused multiple times, which optimizes the Total Cost of Ownership (TCO). As a result, these bulk packages are more effective overall in the logistical chain.

U.S. Flexitank Market Recent Developments

• In November 2023, ASF Logistics announced the expansion of its Flexitanks unit, which is dedicated to promoting the use of this incredibly effective and eco-friendly mode of transportation for non-hazardous bulk liquid cargo. ASF Logistics is the human standard in global logistics. The bulk liquids sector will now benefit from ASF's dependable, constant high standards thanks to the development of the Flexitank product line.

Some of the prominent players in the U.S. flexitank market include:

• Environmental Packaging Technologies, Inc.
• TechnoGroupUSA
• Trans Ocean Bulk Logistics
• SIA Flexitanks
• UWL Inc.
• ASF Logistics
• TSC Container Freight
• Transolve global
• ECU Worldwide

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 U.S. flexitank market

Type

• Single-Trip
• Multi-Trip

Application

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