Latest Study on “Plastic Pallets Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2027”.
The global Plastic Pallets market size is expected to be worth around US$ 6,712.2 Million by 2027, according to a new report by nova one advisor. and is anticipated to grow at a CAGR of 6.0% during forecast period 2021 to 2027.Increasing demand for robust, long-term, contamination-free, and eco-friendly packaging, which accounts for a low cost per trip in the longer term as compared to expendable packaging coupled with a steady expansion of end-use industries is expected to fuel the growth to the market.
Plastic pallets are typically made from robust materials, including polypropylene (PP) and high-density polyethylene (HDPE), and are primarily intended for multiple trips rather than a single trip. Plastic pallets are made from virgin and recycled plastic resins. Virgin resin-based skids offer superior performances. However, recycled resin-based pallets are less expensive and more sustainable, due to which they are generating considerable traction within the market.
Plastic pallets can be easily cleaned with high-pressure jet spray and demand minimal maintenance, unlike wooden pallets. Besides, wood pallets are highly susceptible to moisture and pose a risk of sheltering bacteria, pests, or fungi, which can damage stacked food and pharmaceutical goods. Moreover, splinters or protruding nails of wooden pallets have the potential to break or tamper the pharmaceutical packaging, due to which, end-use companies are increasingly opting for plastic skids, which poses no such risks and weights much lower than wooden skids.
End-use companies are increasingly opting for returnable pallets such as plastic pallets primarily to reduce plastic waste and address sustainability concerns caused by expendable or one-way pallets, which is expected to fuel the demand for plastic pallets. Moreover, the steady expansion of automotive and other manufacturing activities across the world, wherein heavy-duty pallets are widely used, is likely to favor the growth of the PP and HDPE pallets in the coming years.
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The market survey provides compelling insights into important drivers that enable growth. It highlights untapped potential in a variety of industries. For the purpose of the study, the market has been segmented in terms of Product Type, Channel, and regions. The report presents an incisive view of various factors impacting growth across these categories. Challenges posing threat also are studied in detail.
Apart from underscoring unexplored prospects, the report is intended to prepare businesses for unforeseen challenges in the future. It covers recommendations to help them navigate their businesses through obstacles to continue reporting growth at a sustainable pace.
COVID-19 Impact on Plastic Pallets Sales
Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Plastic Pallets market.
Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Plastic Pallets market 2021 onwards. This trend will however continue through the course of the report’s assessment period
Emerging Nations to Continue Attracting Investments :
The expansion of various industries across India, China, Brazil, and other emerging countries will help the Plastic Pallets market flourish. Consistent investment towards industrialization and urbanization, as well as the implementation of policies favouring foreign investment, will continue to be major growth drivers.
Expansion initiatives undertaken by various countries will aid the growth of the Plastic Pallets market. Besides, the easy availability of raw materials and labours at a cheaper cost will attract an increasing number of companies within the Plastic Pallets market.
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The report include OMNIPAK S.R.O., Smart Flow Europe SA, ORBIS Corporation, Bekuplast Gmbh, Meridian Group D.O.O., TBA Plastové Obaly S.R.O., CABKA Group, PURUS PLASTICS GmbH, Plastic Pallets Manufacturers, Paxxal Inc., and others
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Market Segmentation
Market By Material
- HDPE
- PP
Market By Pallet Type
- Nestable
- Rackable
- Stackable
Market By End-use
- Food & Beverages
- Pharmaceuticals
- Chemicals
- Construction
- Electronics
- Consumer Goods
The regional segmentation covers:
-North America Region (U.S., Canada, Mexico)
-Europe Region (Germany, UK, France, Russia, Italy, Rest of Europe)
-Asia-Pacific Region (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
-South America Region (Brazil, Argentina, Columbia, Rest of South America)
-The Middle East & Africa Region (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
Key Findings of the Plastic Pallets Market Study
- Backed by the presence of well-established industrial infrastructure and willingness to spend on advanced technologies will strengthen North America’s hold in the global market.
- The Europe market will continue gaining from surging demand in Germany, U.K., Italy, France, and Spain.
- Investment towards industrialization and favourable policies intended at encouraging foreign investment will drive growth in India and China, sealing Asia Pacific’s position as a highly lucrative market for Plastic Pallets.
- In Latin America, the market will gain from surging focus on economic development.
Why Buy this Report?
The purpose of Nova one advisor’s Plastic Pallets market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.
Some of the key highlights of the report are:
- Plastic Pallets Market Demand Outlook – The report offers refined forecasts on potential growth prospects for the market. Based on data derived after thorough research by a team of expert analysis, Nova one advisor presents the most precise rate of growth for the market for the assessment period starting from (start year) to (end year).
- Plastic Pallets Supply Chain Analysis – The purpose of the survey is to help companies identify potential scope for supply chain expansion. The study also presents analysis of unprecedented threats.
- Key Market Segments – To present an exhaustive overview, the global Plastic Pallets market is segmented in terms of Product Type, Channel, and region. Opportunities existing across each of these categories are reflected on to help businesses realize their true potential.
- Competitive Landscape Analysis – Some of the leading companies operating in the Plastic Pallets market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.
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