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PACKAGING

Pallet Market Segmentation by Type (Block, Stringer, Double-Face, Double-Wing, and Solid Deck Pallet); by Material (Plastic, Wood, Plywood, Cardboard, Metal, and Others); and by End-User Industry (Chemical, Food & Beverages, Automobile, Cement, Agriculture and Others) – Global Demand Analysis & Opportunity Outlook 2029

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Extensive insights into the Growth of Pallet Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Pallet Market Highlights over 2020-2029

The global pallet market is estimated to garner a significant CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to the growing demand for reliable packaging solutions amongst the end-users. Pallets are being increasingly used for bulk packaging as it keeps the products in position. Moreover, increasing international trade of various commodities, such as, dairy, cosmetics, chemicals, and electronic goods, among others, is estimated to increase the demand for safe packaging solutions, which, in turn, is estimated to boost the market growth.

Pallet Market

The market is segmented by material into plastic, wood, plywood, cardboard, metal, and others, out of which, the plastic segment is anticipated to hold the largest share in the market during the forecast period, on account of easy availability of raw materials, along with the ease in recycling the material. Additionally, wooden pallets are easily perishable in hot and humid climatic conditions, which is estimated to promote the demand for plastic pallets. CLICK TO DOWNLOAD SAMPLE REPORT

Global Pallet Market Regional Synopsis

Regionally, the global pallet market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy CAGR over the forecast period on the back of growing manufacturing industry in countries, such as, India, China, Vietnam, and Thailand, backed by the rapid economic development in the region. APAC region is the biggest exporter of various good, including smartphones and their parts, locomotives, cotton, spices, and pesticides among others, which is projected to boost the demand for packaging solutions. Moreover, growing use of pallets for storage of products, especially, fruits and vegetables, is anticipated to further drive the market growth.

The market in North America region is estimated to hold a substantial share throughout the forecast period, owing to the increasing use of pallets in exportation of products, such as, pharmaceutical and cosmetics.

The global pallet market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global pallet market includes the following segments:

By Type

  • Block Pallet
  • Stringer
  • Double-Face
  • Double- Wing
  • Solid Deck

By Material

  • Plastic
  • Wood
  • Plywood
  • Cardboard
  • Metal
  • Others

By End-User Industry

  • Chemical
  • Food & Beverages
  • Automobile
  • Cement
  • Agriculture
  • Others

Growth Drivers

  • Escalating Demand for Packaging in Chemical, Cement, and Automobile Industry
  • Increasing Application of Pallets for Packaging Goods in the Growing Import and Export Industry

Challenges

  • High Cost of Raw Materials, such as, Wood and Steel
  • Risk of Fire and Insect Infestation in Wooden Pallets

Top Featured Companies Dominating the Market

  • Totre Industries
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Palcon LLC
  • Shur-way Group Inc.
  • FCA, LLC
  • Coxco, Inc.
  • Brambles Ltd (CHEP)
  • PalletOne Inc.
  • Rowlinsons Packaging Ltd.
  • Pilco Storage Systems Private Limited.
  • CABKA Group

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