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The global plastic pallets market exhibited moderate growth during 2015-2020. 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. Looking forward, IMARC Group expects the global plastic pallets market to grow at a CAGR of around 5% during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the global plastic pallets market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, material, pallet type and end use industry.
Breakup by Material:
Breakup by Pallet Type:
Breakup by End Use Industry:
Breakup by Region:
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.
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