What is the future of Flexitank Market? Know Covid Impact on Size, Share & Forecasts

What is the future of Flexitank Market? Know Covid Impact on Size, Share & Forecasts

July 21, 2020

The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Flexitank Market.

It was estimated prior to this unanticipated outbreak that the Flexitank Market was likely to witness an impressive CAGR of 16.5% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.

For a more detailed breakdown of the COVID-19 impact on this Market, request a free sample of the report here: https://www.stratviewresearch.com/Request-Sample/1001/flexitank-market.html

Market Share Analysis

Flexitank Market Share: By Tank Type

Based on the tank type, the market is segmented as monolayer and multilayer. Multilayer dominated the market in 2019, and is expected to register a higher CAGR during the forecast period. Higher durability and strength over monolayer flexitank and the ability to resist the contamination and moisture barriers are the prime reason for the dominance of the segment.

Flexitank Market Share: By Loading Type

Based on the loading type, the market is segmented as top loading and bottom loading. The top loading segment dominated the market in 2019; however, bottom loading is expected to register a higher CAGR during the forecast period. Bottom loading flexitank uses single valve for loading and unloading and hence, minimizes labor cost and loading & unloading time as compared to top load.

Flexitank Market Share: By Application Type

Based on the application type, the market is segmented as food grade liquids, non-hazardous chemicals, and pharmaceutical liquids. Food grade liquids dominated the market in 2019, and is expected to grow at a healthy CAGR during the forecast period. Food grade liquids are traded in bulk quantities across the regions. Asia-Pacific is the largest exporter of apple juice and edible oils. Wine, fruit juice, and fruit concentrates are exported from North America and South America.

Flexitank Market Share: By Region

In terms of regionsAsia-Pacific is estimated to remain the largest and the fastest-growing market during the forecast period as the region is the largest producer of food grade liquid and pharmaceuticals. The region also has the largest middle-class consumers of these products. China dominated the region’s flexitank market in 2019. The supply chain hampered due to the COVID-19 outbreak; hence, a negative impact of it will impede the demand in 2020. However, the market is expected to rebound with the resumption in normal trade.

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Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

Based on the research, a proper report is crafted with the following key features:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • COVID-19 Impact Assessment.
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
  • Market trend and forecast analysis
  • Market segment trend and forecast
  • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends
  • Strategic growth opportunities for the existing and new players
  • Key success factors 

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