The demand within the global market for flexitanks has been rising onaccount of advancements in the field of liquid handling, predicts TransparencyMarket Research (TMR). The competition in the global flexitanks market isexpected to increase in the years to come, majorly due to fragmented demanddynamics of the global market. The relation of the global flexitanks market to thetransportation of bulk liquids places on onus of safety upon the manufacturersand vendors. Hence, the leading vendors in the global flexitanks market havebeen making ardent efforts to improve the performance of their tanks. Thesevendors have made several fundamental changes have to their business strategiesover the past decade.
Acquisitions are expected to be a key strategy for the leading vendorsin the global flexitanks market. These vendors can gain the benefits oflocalisation and selective growth by acquiring regional and local vendors. Itis expected that the small-scale vendors in the global flexitanks market wouldfrom alliances amongst themselves. This strategy could help these marginalvendors to avert the momentous competition from larger entities. Collaborationsand partnerships are also expected to be a key highlight of the global flexitanksmarket in the years to come.
Transparency Market Research (TMR)finds that the global market for flexitanks market would expand at a stellarCAGR of 14.3% over the period between 2018 and 2025. Furthermore, the globalmarket for flexitanks accumulated total revenues worth US$ 330 Mn in 2017.Based on application, the storage and transportation of non-hazardous chemicalin flexitanks has gained popularity. On the basis of geography, the market forflexitanks in Asia Pacific is projected to expand at a stellar pace in theyears to come.
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Need forSafe Transport of Liquids
Thedemand within the global flexitanks market has been rising as the severalindustries deploy these tanks for liquid transport. The need for safe and soundtransport of non-hazardous liquids has played a major role in enhancing the growthdynamics of the global market. Furthermore, the market for flexitanks has alsoexpanded alongside advancements in the chemical industry. The need for bulkchemicals is felt across various industrial and manufacturing units within thechemical industry. Industrial liquids are used in voluminous amounts across themanufacturing bases, and hence, flexitanks are made available across theseunits. It is expected that the global flexitanks market would earn humongousrevenues from the worldwide chemical industry.
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Mishapsand Failures to Hamper Market Growth
Althoughflexitanks are in great popularity across the globe, the market for these tanksstill suffers from the risk of toppling. A number of mishaps during thetransportation of liquids via flexitanks have come to light over the pastyears. This has created apprehensions in the minds of the end-users which hasin turn restrained market demand. However, the indispensable use of flexitanksin the chemicals industry is expected to keep propelling market demand.Furthermore, the use of flexitanks for the transport of agricultural liquidshas also generated commendable opportunities for growth within this market.
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