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.
Market Share Analysis
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.
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.
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.
In terms of regions, Asia-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.
Click below to run through the detailed ToC of the report: https://www.stratviewresearch.com/toc/1001/flexitank-market.html
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:
Click here for other high value market reports from Stratview Research in the Aerospace & Defence Industry: https://www.stratviewresearch.com/market-reports/Aerospace-Defense.html
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.