Pallets Market Size, Share & Growth Analysis, 2020–2027 | Covid-19 Impact & Key Growth Factors
The unprecedented growth in e-commerce industry is expected to drive the demand for pallets on a significant scale.
PORTLAND, OR, UNITED STATES, September 23, 2021 /EINPresswire.com/ -- Pallets are weight-bearing structures that act as a rigid foundation for the transportation and storage of numerous materials and products that comprise the unit load. They are one of the most commonly used bases for stacking goods and are typically attached with stretch wrap, pallet collars, adhesive, or other measures of stabilization.
Depending on the application, they are made from a variety of materials such as wood, metal, and plastic. Due to their characteristics, pallets are widely employed by a significant number of makers of commercial goods and shippers across the world.
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The growth of the pallet industry is driven by the increase in the need for dependable packaging solutions among end users and the rise in demand for logistics services along with surge in smartphone sales and internet penetration. As per the reports published by Allied Market Research, the global pallets market is expected to reach $110.56 billion in 2027, growing at a CAGR of 5.1% from 2020 to 2027. Pallet consumption has increased rapidly, primarily in North America, Western Europe, and South-East Asia due to rise in demand for plastic wrappers in the regions and increased need for lightweight advanced designs.
Key Players
Brambles Limited, CABKA Group GmbH, Craemer Holding GmbH, Falkenhahn AG, LOSCAM International Holdings Co., Ltd., Millwood, Inc., Menasha Corporation, PalletOne Inc., Rehrig Pacific Holdings, Inc., and Schoeller Allibert Services B.V.
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Key Market Segments
BY TYPE
Rackable
Nestable
Stackable
Display
By Material
Wood
Plastic via injection molding
Plastic via other methods
Corrugated paper
Metal
By End-user Industry
Food & beverage
Chemical
Retail
Pharmaceutical
Others
By Region
North America
Europe
Asia-Pacific
LAMEA
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David Correa
Allied Analytics LLP
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