The global plastic pallets market is expected to exhibit a growth rate (CAGR) of 5.1% during 2023-2028.
A plastic pallet is a stable, horizontal platform that facilitates the movement of products from one place to another. It is easy to maintain and resistant to chemicals, such as alkalis and acids. As compared to its wooden counterparts, a plastic pallet has a lifespan of more than ten years and is manufactured using a one-step molding process. As a result, its application is expanding in different industry verticals around the world.
Plastic pallets are extensively used for stretch-wrapping and strapping of goods. Their demand is also increasing in warehouses for storing finished products and raw materials conveniently and effective handling in industries, such as food and beverage (F&B), textile, chemical, and pharmaceutical. A significant growth in these industries, coupled with the escalating demand for hygienic, durable, and contamination-free pallets, currently represents one of the key factors strengthening the market growth. Apart from this, plastic pallets are employed in the processing and manufacturing units, distribution centers, conveying systems, and static storage. Furthermore, plastic pallets eliminate packaging waste, thereby making them highly sustainable, which is positively influencing the growth of the market. Besides this, the introduction of active tracking devices that are integrated with the latest technologies, such as radio-frequency identification (RFID) tags, Bluetooth, and the Internet of Things (IoT), has allowed easy tracking of pallets. This, coupled with the burgeoning e-commerce sector and subsequently rising demand for logistics services, is anticipated to fuel the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global plastic pallets market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on material, pallet type and end use industry.
Breakup by Material:
- High Density Polyethylene (HDPE)
- Low Density Polyethylene (LDPE)
- Polypropylene (PP)
Breakup by Pallet Type:
Breakup by End Use Industry:
- Food and Beverages
- Petroleum and Lubricants
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Allied Plastics Inc., CABKA Group, Greystone Logistics, Monoflo International, Orbis Corporation (Menasha Corporation), Paxxal Inc., Perfect Pallets Inc., Polymer Solutions International Inc., Rehrig Pacific Company, TMF Corporation and Tranpak Inc.
|Base Year of the Analysis
||Material, Pallet Type, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Allied Plastics Inc., CABKA Group, Greystone Logistics, Monoflo International, Orbis Corporation (Menasha Corporation), Paxxal Inc., Perfect Pallets Inc., Polymer Solutions International Inc., Rehrig Pacific Company, TMF Corporation and Tranpak Inc.
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Key Questions Answered in This Report:
- How has the global plastic pallets market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global plastic pallets market?
- What are the key regional markets?
- What is the breakup of the market based on the material?
- What is the breakup of the market based on the pallet type?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global plastic pallets market and who are the key players?
- What is the degree of competition in the industry?