Market Research Report
Plastic Pallets Market by Material and Geography - Global Forecast & Analysis 2020-2024
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||914636|
|Published||Content info||136 Pages
Delivery time: 1-2 business days
|Plastic Pallets Market by Material and Geography - Global Forecast & Analysis 2020-2024|
|Published: October 14, 2019||Content info: 136 Pages||
Technavio's plastic pallets market analysis considers sales from both HDPE and PP material. Our study also finds the sales of plastic pallets in APAC, Europe, North America, South America, and MEA. In 2018, the HDPE segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as demand for exceptionally durable, reliable, and hygienic plastic pallets will play a significant role in the HDPE segment to maintain its market position. Also, our global plastic pallets market report looks at factors such as benefits associated with the use of plastic pallets, high applications in the shipping and load handling sector, and emerging markets in APAC act as market enablers. However, regulatory norms and standards on the use of plastic pallets, variation in crude oil prices, and challenges faced by logistics and shipping industries may hamper the growth of the plastic pallets industry over the forecast period.
End-users are increasing the preference for plastic pallets over wooden or metal pallets. This is because plastic pallets offer lower shipping costs as they are lighter and easy to transport. Plastic pallets do not break or develop cracks, thereby resulting in higher durability. They are safer to handle as they do not have sharp edges and can accommodate several types of goods. Moreover, plastic pallets offer better space efficiency when they are stacked. Many such benefits offered by plastic pallets will lead to the expansion of the global plastic pallets market at a CAGR of about 8% during the forecast period.
The efficiency of logistics and warehouse operations plays a crucial role in determining the material handling and transportation cost in a supply chain. The use of cost-effective and time-saving material handling equipment is of utmost importance to improve operational efficiency. Radio-frequency identification (RFID) tracking tags for plastic pallets are one of the optimum solutions that help in the optimization of container packaging and logistic operations. RFID tags improve the automation level of the tracking process in inventory management and warehousing. RFID tags used for plastic pallet tracking are being designed to meet individual business requirements. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global plastic pallets market during the forecast period 2020-2024, view our report.
With the presence of several major players, the global plastic pallets market is fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading plastic pallets manufacturers, that include Brambles Ltd., Bulk-Flow LLC, DIC Corp., Greif Inc., Groupe PGS, LOSCAM, Nefab AB, Rehrig Pacific Co., Schoeller Allibert BV, and Vierhouten Groep BV
Also, the plastic pallets market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.