Pallets Market Report 2021 - Global Growth, Trends, and Forecasts to 2026 - Increasing Demand for Plastic Pallets Across the Industry Verticals - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Pallets Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The pallets market is expected to register a CAGR of 5.2% during the forecast period (2021 - 2026).

As supply chains become steadily global and customers demand greater transparency as to how products and materials move through them. So by embedding RFID chips directly into pallet materials, it is possible to track and trace individual pallets in real-time. Pallet tracking can help businesses manage recalls and expiration dates, minimizing product loss and getting items to their end-users in an efficient and cost-effective manner.

Increasing demand for plastic pallets across the industry verticals is driving the market. From the past three decades, wooden pallets have been adopted due to their strength and easy manufacturing process, however it has many disadvantages such as less durability, moisture absorption, and its splinter break easily. Nowadays logistic and shipment companies are shifting towards plastic pallets owing to its advantage such as lightweight and environmental friendly, and growing awareness to reduce carbon footprint is also increasing the plastic pallet demand.

Also the demand for HDPE material is increasing in the automotive and shipping industry, due its ability to handle heavy loads. HDPE disposable plastic pallet are extensively used in the food and beverage industry as they are resistant to organic and inorganic chemicals at normal temperature. According to Woodworking Network, the demand of plastic pallet in United States is increasing yearly at a high growth rate. The demand is expected to increase to 43.4 million units till end 2019 from 41.5 million units in 2018 in all industry verticals.

Adoption of pallets for transportation purpose drives the market. The freight industry entails firms that move bulk goods as part of an integrated, multimodal logistics network. According to the Organization for Economic Cooperation and Development (OECD), the global freight volumes will expand more than fourfold by 2025, and road freight dominates the segment, controlling nearly one-third of the total global logistics spend.

For instance, motorcycle is an example of a product where the use of pallets is highly required. It cannot steadily stand by itself because its base is composed of 2 wheels and relying on a motorcycle stand would not assure that it would not fall especially when inside a running cargo truck. Mounting the product on a pallet and tightly strapping it on prevent it from falling and bumping to other valuable product. So, due to increasing freight volumes, the demand of pallets will continue to increase in future.

Limiting availability and high price of raw materials for manufacturing pallets is the reason which restraints the market growth. As the market is captured by wooden pallet, and these are made by lumber, often fluctuations in the prices challenges the market to grow. Lumber prices typically rise in the spring as builders stock up for construction season and also due to bad weather and less penetration towards home building, the prices fluctuates.

The pallets market is fragmented in nature due to the presence of several small and large manufacturers who compete against one another in terms of prices and quality. Key players are Falkenhahn AG, CABKA Group GmbH, CHEP, etc.

Key Topics Covered:

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Introduction to Market Drivers and Restraints

4.3 Market Drivers

4.3.1 Increasing Demand for Plastic Pallets Across the Industry Verticals

4.3.2 Adoption of Pallets for Transportation Purpose

4.4 Market Restraints

4.4.1 Limiting Availability and High Cost of Raw Materials

4.5 Value Chain Analysis

4.6 Industry Attractiveness - Porter's Five Force Analysis

5 MARKET SEGMENTATION

5.1 Types

5.1.1 Wood

5.1.2 Plastic

5.1.3 Other Types

5.2 End-User

5.2.1 Transportation & Warehousing

5.2.2 Food & Beverage

5.2.3 Pharmaceutical

5.2.4 Retail

5.2.5 Other End-Users

5.3 Geography

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 Falkenhahn AG

6.1.2 CABKA Group GmbH

6.1.3 CHEP (Commonwealth Handling Equipment Pool)

6.1.4 Palettes Gestion Services

6.1.5 PalletOne, Inc.

6.1.6 Schoeller Allibert Group B.V.

6.1.7 The Corrugated Pallets Company

6.1.8 ORBIS Corporation

6.1.9 Craemer Holding GmbH

6.1.10 Rehrig Pacific Company, Inc.

6.1.11 World Steel Pallet Co.,Ltd

6.1.12 Arrington Lumber & Pallet Co. Inc.

6.1.13 LCN, Inc.

6.1.14 Loscam Australia Pty Ltd

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/jxfi1y