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Plastic Pallets Market to Grow at a CAGR of 6.0% From 2019-2029

According to the latest report published by Acute Market Reports “Plastic Pallets Market” – Growth, Future Prospects, and Competitive Analysis, 2019-2029,” the Plastic Pallets Market is expected to expand at a CAGR of 6 % from 2021 to 2029.

Plastic pallets, on the other hand, are engineered to provide uniform dimensions, consistent weight, and a much longer lifespan than wood pallets. The biggest advantage of warehouse automation is its capacity for high throughput; plastic pallets ensure that ASRS automated storage & retrieval systems are being used to their full potential. Plastic platforms are also a better choice for deep lane storage and other high-density storage systems frequently used alongside automated systems.

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Pallets are produced by molding recycled plastic. This causes the ecofriendly nature of pallets. Majorly the pallets are made up of High-Density Polyethylene (HDPE), various materials such as Polypropylene (PP Pallets), Polyolefin (PO Pallets)& fiberglass are used according to the need. Various type of pallets include stackable plastic pallets with a feature of saving space, rackable plastic pallet they resist heavyweights, nestable plastic pallets have a feature of saving space after emptying them, plastic drum pallets are used for drums, double side pallets, nine legs pallets, picture frame pallets, three runner pallets & so on.

In 2020 the Asia Pacific generates over 30% of the total revenue in terms of regional analysis. The use of pallets held in agriculture & food products resulted in huge demand. Reusable Plastic Container & Pallet Association, a Product Section of the Material Handling Industry was established in 1987, with a mission that includes the development of physical and performance guidelines for the safe design, integration & implementation of plastic products in material handling systems. The Covid-19 pandemic has had a detrimental impact on the worldwide pallets market, owing to a halt in international trade, protracted lockdowns, and supply and logistical activities around the world whereas,on the other hand, it has helped increase the population’s preference for e-commerce platforms, particularly in nations such as India and others where e-commerce was less prevalent.

Orbis Corporation, Rehrig Pacific Company, Falkenhahn AG, Greystone Logistics, Monoflo International, CABKA Group, Buckhorn Inc, TMF Corporation, Rehrig Pacific Company, Inc, Allied Plastics, Inc, Perfect Pallets, Inc, SchoellerAllibert Services B.V, The Craemer Group, Euro Pool System International B.V. The strategy used is reuse of plastic containers, pallets, dunnage & bulk systems improve the flow product all along the supply chain, to reduce costs, enhance profitability & add sustainability. Some companies use the five-step process to sustain the business, as analyze, prove, design, implement &evolve. 

Key Market Movements:                                                                                      
  • Plastic Pallets Market is developing significantly with an expected CAGR of 6% from 2021 – 2029.
  • Advancement in recycling plastic is the key factor for growth.
  • The Supply chain industry plays a vital role in this market.
  • Pallets have various varieties of the type according to their use.
  • The pandemic has affected the industry negatively.
  • The Asia Pacific &North America dominates the market in the regional analysis.
  • The key players include Orbis Corporation, Rehrig Pacific Company, Falkenhahn AG, Greystone Logistics, Monoflo International, CABKA Group, Buckhorn Inc, TMF Corporation, Rehrig Pacific Company, Inc, Allied Plastics, Inc, Perfect Pallets, Inc, SchoellerAllibert Services B.V, The Craemer Group, Euro Pool System International B.V.
  • The strategy used is reuse of plastic containers, pallets, dunnage& bulk systems to improve the flow of products all along the supply chain, to reduce costs, enhance profitability & add sustainability. Some companies use the five-step process to sustain the business, as analyze, prove, design, implement & evolve.

Plastic Pallets Market is segmented into: 

ATTRIBUTEDETAILS
Research Period 2019-2029
Base Year 2020
Forecast Period2021-2029
Historical Year2019
UnitUS$ Million
SegmentationMaterial Segment (2019-2029; US$ Mn)
Type segment  (2019-2029; US$ Mn)
Application area Segment ( 2019-2029; US$ Mn)
Region type Segment (2019-2029; US$ Mn)
Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

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