Global Plastic Pallets Market 2018-2022
About Plastic Pallets
A pallet is a flat base panel that is used to serve as the base for the storage and transportation of raw materials and finished goods. Pallets are generally designed to be lifted by forklifts and pallet jacks. They are used as a returnable transport packaging material. These pallets are material handling equipment for the movement of goods and raw materials within a warehouse or between distribution centers. The increased use of palletized storage and transportation are the key considerations that are fueling the demand for pallets in transit packaging by different end-user industries. The growing need for efficient and safe storage and transportation is driving the global pallets market, especially for the end-user industries, such as food and beverage, chemicals, cement, pharmaceuticals, oil and gas, and automotive industries.
Technavio’s analysts forecast the global plastic pallets market to grow at a CAGR of 7.70% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global plastic pallets market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of plastic pallets.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Plastic Pallets Market 2018-2022
Technavio recognizes the following companies as the key players in the global plastic pallets market: Brambles, LOSCAM, ORBIS, Rehrig Pacific, and Schoeller Allibert.
Other Prominent Vendors in the market are: Buckhorn, CABKA, Craemer Group, Falkenhahn, Greystone Logistics, Kamps Pallets, Litco International, and Millwood.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is reduction of carbon footprint. Plastic pallets are environment-friendly as they are made of HDPE or PP, unlike wooden pallets that are made up of lumber and is a non-renewable resource. The main reason for using eco-friendly plastic pallets is to reduce the global carbon footprint. Moreover, plastic pallets are recyclable and are extensively used to transport material due to their high durability. These advantages drive the demand for plastic pallets in the end-user industries.”
According to the report, one of the major drivers for this market is increasing demand for safe and hygienic pallets. Plastic pallets are extensively used in grocery, food and beverage, pharmaceutical, and e-commerce industries for several operations. Features such as hygienic, easily sanitized, non-porous, and ease of using for safe movement and storage of products, drive the increased use of plastic pallets. As plastic pallets are made up of non-porous materials, they do not absorb moisture which makes them suitable for food chain supply. Plastic pallets provide features such as safety, protection from contamination, and increased operational efficiency, due to which they are increasingly demanded in several industries.
Brambles, LOSCAM, ORBIS, Rehrig Pacific, Schoeller Allibert, Buckhorn, CABKA, Craemer Group, Falkenhahn, Greystone Logistics, Kamps Pallets, Litco International, and Millwood.