Global flexi-trays market: Introduction
Flexi-trays are flexible and durable damage resistant trays, that can fit in places where conventional trays are not able to. Flexi-trays are therefore used either as catchment trays or as dispensing trays to keep work spaces clean. Usually made from rubberized plastic, flexi-trays are known to reform and continue to provide safe containment, even after getting driven over. Preference for flexi-trays can be attributed to properties such as, durability and flexibility, combined with better insulation to work on. Flexi-trays can be comfortably used as a mat under vehicles and equipment, and are considered ideal for service engineers. Another reason for their preference is the fact that they come in various shapes as per requirements of the end user, thereby making them an ideal and cost effective option over conventional trays. Flexi-trays come with benefits similar to that of other flexible packaging solutions. They are versatile, and can be easily folded and stored.
Global flexi-trays market: Dynamics
All industries rely on innovation for growth. Innovation in terms of new products that eliminate the problems faced by their alternatives. Flexi-trays combine improved process performance with high resistance to damage, thereby saving cost. The global flexi-trays market is expected to be driven by certain factors such as, need for efficient and cost saving solutions that improve process performance – flexi-trays are resistant to damage and can be trodden on or run over. Some varieties are known to handle loadings up to 10% higher as compared to sieve trays, along with high performance. Their resilience makes them an ideal option for any end user to have. Flexi-trays are extremely cost effective, with very low installation and negligible maintenance costs. In addition to that, investment on R&D by some vendors have resulted in newer and more efficient versions of flexi-trays. For instance, Koch-Glitsch has designed several valve styles of different varieties, to enhance vapor-liquid contact. Innovation will help keep the market environment competitive and can survive the effect of potential disrupting factors in the market.
All these factors make flexi-trays a reliable option for the end users, and help keep the global flexi-trays market outlook positive.
Despite these features, certain factors that have the potential to hinder growth of the global flexi-trays market are – limited applications. Flexi-trays may be versatile in their roles, but they have limited applications apart from damage resistance.
Global flexi-trays market: Segmentation
The global flexi-trays market has been segmented on the basis of the varieties in which they have been made available in the market –
On the basis of product type:
- Shallow flexi-trays
- Deep flexi-trays
- Small (520 mm x 700 mm x 100 mm)
- Medium 700 mm x 1030 mm x 100 mm)
On the basis of application:
- Work-Mat flexi-trays
- Dispensing flexi-trays
- Plant Nappy flexi-trays
Global flexi-trays market: Geographical Outlook
The global flexi-trays market has been divided into seven regions –
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East and Africa (MEA)
The North American region market is expected to lead the global flexi-trays market, in terms of both value and volume, owing to a mature consumer-base that prefers branded products and associates them with high quality. Western Europe region is expected to follow closely. The Asia Pacific region is witnessing high growth in the amount of disposable personal income of consumers, which leads them to try branded products. The Asia Pacific region represents the most lucrative market in terms of potential. Therefore, vendors would be keen to promote their items and brands through their loyal customers in that region. The Latin America flexi-trays market is also expected to witness similar growth pattern over the forecast period. MEA region is expected to grow at a moderate pace.
Global flexi-trays market: Key Players
Few of the key players operating the global flexi-trays market are - Koch-Glitsch, LP, Safetykleen, and Serpro Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.