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May 22, 2023

Global Plastic Pallets Market to 2030: Increasing Popularity of E

Global Plastic Pallets Market Dublin, June 14, 2023 (GLOBE NEWSWIRE) -- The "Plastic Pallets Market Size, Share & Trends Analysis Report 2023 - 2030" report has been added to ResearchAndMarkets.com's

Global Plastic Pallets Market

Dublin, June 14, 2023 (GLOBE NEWSWIRE) -- The "Plastic Pallets Market Size, Share & Trends Analysis Report 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.The global plastic pallets market size is anticipated to reach USD 11.20 billion by 2030, registering a CAGR of 5.6% from 2023 to 2030.

The global pallet market has been witnessing a considerable upsurge in growth from the past few years on account of steady growth in manufacturing activities globally. The increasing popularity of e-commerce has resulted in the growth of logistics activities and, in turn, surged the demand for pallets worldwide. Furthermore, increasing penetration of organized retail is expected to drive the demand for pallets as these are widely used in retail spaces for the loading and unloading of heavy merchandise and as a base structure for Point of Purchase (POP) display. Pallets are commonly made by using wood, plastic, metal, and corrugated paper material. Among these, wooden pallets are majorly utilized by end-use companies owing to their low cost and high strength. Furthermore, plastic pallets are anticipated to witness high demand in the coming years as they are easy to clean, lightweight, majorly made from recycled plastic, and safe and hygienic for applications in the food and pharmaceutical industries.Food and pharmaceutical are the major end-use industries of plastic pallets. In both industries, sanitation, and safety are given prime importance and therefore, plastic pallets are increasingly replacing wooden pallets. In the processed food industry, large volumes of raw materials are handled, stored, and transported on a daily basis and plastic pallets are majorly utilized for material handling throughout the manufacturing and transportation process.The numerous manufacturers are shifting towards the manufacturing of plastic Pallets. For instance, in November 2022, Avery Dennison Label and Packaging Materials plan to change its original wooden pallet (the European size is 1200 x 800mm) to a plastic pallet for material packaging. The aim is to reduce 819 tons of carbon emissions in the supply chain every year, also plastic pallets inhibit microbial damage to products during transportation, thereby reducing wasteHowever, the demand for plastic pallets is significantly growing from end-use industries, however, several factors such as the high cost of plastic pallet and their sustainability issues are limiting their widespread penetration. It is estimated that wood Pallets cost approximately 33% lower than plastic pallets.

In the U.S., a new 48"*40" GMA wooden pallet costs around USD 8-10, whereas a recycled 48"*40" pallet costs around USD 4 to USD 5. On the other hand, similar-sized reusable plastic Pallet cost around USD 20 to USD 25. Plastic Pallets are made from petroleum-based plastic resins such as HDPE, PP, LDPE, and others, whereas wood pallets are made from considerably cheaper softwood lumber.

Companies Mentioned

Orbis Corporation

Rehrig Pacific Company

Monoflo International

CABKA Group

Allied Plastics, Inc.

Polymer Solutions International

Perfect Pallet, Inc.

TranPak, Inc.

TMF Corporation

Plastic Pallets Market Report Highlights

High-density polyethylene (HDPE) material segment held the largest share of 68.2% in the global plastic pallet market in 2022 and is likely to retain its leading position by 2030. The HDPE is known for its versatility and is commonly utilized for making various products including bottles, automotive parts, furniture, and construction products

Nestable Pallet accounted for the largest share of 43.7% in the type segment by value, in 2022. Nestable Pallet is lightweight and thus are easy to handle, however, these are not considered ideal for heavy-duty applications owing to their lesser strength as compared to other pallet types

Asia Pacific was a key region in the global plastic pallet market with the highest share of 32.9% in 2022. The market is expected to advance at the fastest CAGR of 6.5% during the forecast period owing to the increasing product demand from manufacturing sectors in India, China, and Japan

Key Attributes:

Report Attribute

Details

No. of Pages

140

Forecast Period

2022 - 2030

Estimated Market Value (USD) in 2022

$7.3 Billion

Forecasted Market Value (USD) by 2030

$11.2 Billion

Compound Annual Growth Rate

5.6%

Regions Covered

Global

Key Topics Covered: Chapter 1. Methodology and ScopeChapter 2. Executive SummaryChapter 3. Plastic Pallets Market Variables, Trends, & Scope3.1. Market Outlook3.1.1. Parent Market Outlook3.1.2. Related Market Outlook3.2. Penetration & Growth Prospect Mapping3.3. Industry Value Chain Analysis3.3.1. Major Raw Material Trends3.3.2. Manufacturing Trends3.4. Technology Overview3.5. Regulatory Framework3.6. Vendor Selection Criteria Analysis3.7. Plastic Pallets Market - Market dynamics3.7.1. Market driver Analysis3.7.2. Market Restraint Analysis3.7.3. Industry Challenges3.8. Business Environment Analysis: Plastic Pallets Market3.9. COVID-19 Impact & Geo Political ConflictChapter 4. Plastic Pallets Market: Material Estimates & Trend Analysis4.1. Plastic Pallets Market: material movement analysis, 2022 & 20304.2. High Density Polyethylene4.2.1. Market estimates and forecasts, 2018 - 2030 (Million Units) (USD Million)4.3. Low Density polyethylene4.3.1. Market estimates and forecasts, 2018 - 2030 (Million Units) (USD Million)4.4. Polypropylene (PP)4.4.1. Market estimates and forecasts, 2018 - 2030 (Million Units) (USD Million)4.5. Others4.5.1. Market estimates and forecasts, 2018 - 2030 (Million Units) (USD Million)Chapter 5. Plastic Pallets Market: Type Estimates & Trend Analysis5.1. Plastic Pallets Market: type movement analysis, 2022 & 20305.2. Nestable5.2.1. Market estimates and forecasts, 2018 - 2030 (Million Units) (USD Million)5.3. Rackable5.3.1. Market estimates and forecasts, 2018 - 2030 (Million Units) (USD Million)5.4. Stackable5.4.1. Market estimates and forecasts, 2018 - 2030 (Million Units) (USD Million)5.5. Others5.5.1. Market estimates and forecasts, 2018 - 2030 (Million Units) (USD Million)Chapter 6. Plastic Pallets Market: Application Estimates & Trend Analysis6.1. Plastic Pallets Market: Application movement analysis, 2022 & 20306.2. Food & Beverages6.2.1. Market estimates and forecasts, 2018 - 2030 (Million Units) (USD Million))6.3. Chemicals6.3.1. Market estimates and forecasts, 2018 - 2030 (Million Units) (USD Million)6.4. Pharmaceuticals6.4.1. Market estimates and forecasts, 2018 - 2030 (Million Units) (USD Million)6.5. Petroleum & Lubricants6.5.1. Market estimates and forecasts, 2018 - 2030 (Million Units) (USD Million)6.6. Others6.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million))Chapter 7. Plastic Pallets Market: Regional Estimates & Trend AnalysisChapter 8. Plastic Pallets Market: Competitive Landscape8.1. Company Categorization8.2. Company Market Positioning8.3. Company Market Share Analysis, 20228.3. Company Heat Map Anal8.5. Strategic Mapping8.6. Company Listing (Overview, Financials, Product Portfolio)

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Global Plastic Pallets Market