Selbyville, Delaware, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Flexitanks Market value could exceed USD 5.45 billion by 2032, as per a recent study by Global Market Insights Inc.
Quoting an instance, in November 2023, ASF Logistics, renowned for its excellence in global logistics, unveiled the expansion of its Flexitanks division, dedicated to promoting the use of this eco-friendly mode for non-hazardous liquid cargo transport. Jeff Plumley, renowned for expertise in Flexitanks and global logistics, spearheads this initiative. ASF offers comprehensive Flexitank logistics solutions, encompassing both the conventional single tank and an inventive 3-tank system. American shippers gain access to top-notch tanks manufactured in North America, ensuring punctual delivery, top-tier performance, and unwavering reliability. The ability of flexitanks to optimize cargo space while maintaining safety and ensuring product integrity drives the flexitanks market growth.
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Multi-trip products to gain prominent shares
Multi-trip flexitanks industry could exhibit a decent growth rate over 2024-2032, claims the report. Flexitanks, designed for multiple-use cycles, offer a cost-effective solution for transporting non-hazardous liquids. Their durable construction and ability to endure multiple trips without compromising safety or efficiency make them attractive for businesses seeking sustainable, reusable packaging. This aspect aligns with the market's growing focus on reducing waste, optimizing resources, and achieving economic viability by reusing flexitanks across various liquid transportations, bolstering their demand. These factors collectively propel the Flexitanks market share from multi-trip products.
Pharmaceutical goods application to expand market demand
Flexitanks market from pharmaceutical goods application segment will register a noteworthy CAGR from 2024 to 2032, as per the report. Flexitanks provide a reliable and secure solution for transporting non-hazardous pharmaceutical liquids, ensuring product integrity and hygiene. Their sterile, single-use design prevents contamination and meets stringent quality standards essential for pharmaceutical goods. Flexitanks cater to the industry's ever-growing need for safe and efficient transport of bulk liquids, aligning with the growing emphasis of the pharmaceutical sector on precision, compliance, and safeguarding product efficacy throughout the transportation process, driving their increasing adoption.
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Europe to witness a high revenue share.
Europe flexitanks market will register a robust CAGR from 2024 to 2032, owing to the regional logistics sector favoring flexitanks for transporting non-hazardous bulk liquids due to their efficiency and sustainability. Flexitanks offer a cost-effective solution, optimizing cargo space and reducing shipping costs while aligning with stringent environmental regulations. As European industries increasingly emphasize eco-friendly practices and seek efficient liquid transport solutions, the versatile and eco-conscious nature of flexitanks positions them as a preferred choice, driving the flexitanks industry growth in the European market.
Flexitanks Market Players
Rishi FIBC Solutions Pvt. Ltd., Braid Logistics (Formerly known as Braid), SIA Flexitanks, Trust Flexitanks, Bulk Liquid Solutions, Trans Ocean Bulk Logistics, Environmental Packaging Technologies (EPT), BeFlexi, Qingdao LAF Packaging Co., Ltd., Mak & Williams Flexitank Supply Limited. Companies in the flexitanks indsutry are employing various strategies to enhance their market presence by participating in launching products at several expos and events that are aimed at promoting the potential in the construction industry.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
