Sat, 12 Jun 2021

The new report by Expert Market Research titled, 'Global Plastic Pallets Market Report and Forecast 2021-2026', gives an in-depth analysis of the Global Plastic Pallets market, assessing the market based on its segments like type, material, end use and major regions like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.

Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.

Get a Free Sample Report with Table of Contents: https://www.expertmarketresearch.com/reports/plastic-pallets-market/requestsample

The key highlights of the report include:

Market Overview (2015-2026)

  • Historical Market Size (2020): USD 36 billion
  • Forecast CAGR (2021-2026): 15%
  • Forecast Market Size (2026): USD 8.63 billion

The global plastic pallets market has been growing as a result of significant advancements in the transportation and logistics industries. The use of plastic pallets to place goods or shipping containers to ensure better handling, strapping, and stretch-wrapping of goods is a major reason for the market's growth.

Industry Definition and Major Segments

A pallet is a base or structure that enables items to be handled mechanically by a front loader, forklift, or jack, among other things. They are made of wood or plastic. Pallets made of plastic are thus referred to as plastic pallets. These are widely used in warehouses and for storing products from a variety of industries. Plastic pallets are manufactured using a variety of techniques such as extrusion, thermoforming, blow moulding, and injection moulding.

Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/plastic-pallets-market

Based on type, the market is segregated into:

  • Nestable
  • Rackable
  • Stackable
  • Others

The market is divided in terms of material into:

  • High-density Polypropylene (HDPE)
  • Polypropylene (PP)
  • Low-density Polypropylene (LDPE)
  • Others

The market is segmented in terms of end use into:

  • Food and Beverages
  • Construction
  • Pharmaceuticals
  • Petroleum and Lubricants
  • Others

The regional market for Plastic Pallets is:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

Asia Pacific dominated the market in 2020, accounting for a significant share of global sales, and will grow at the fastest CAGR during the forecast period. The region's rapid industrialization, as well as the rapid growth of e-commerce, are the two main factors driving market growth. North America was another important market for plastic pallets. Because of their durability and light weight, plastic pallets are increasingly being used in a variety of industries, including food, automotive, and chemical, for the logistics of various goods and equipment. Plastic pallets are becoming more popular as a result of the incorporation of technologies such as radio-frequency identification (RFID) in plastic pallets, which allows users to track the location of their goods, which helps users to detect and locate items across the supply chain. Furthermore, rising R&D activities in the logistics sector, as well as technological advancements, are expected to create future opportunities over the forecast period. Furthermore, the expansion of the e-commerce sector and the expansion of the medical industry are expected to drive market growth during the forecast period.

Plastic pallets are more expensive than wooden pallets; therefore, their theft or misplacement raises the overall cost of material handling or product transportation. Furthermore, the ban on plastic products in some economies is expected to stifle growth over the forecast period.

Key Market Players

The major players in the market are Orbis Corporation, Monoflo International Inc., CABKA Group, Greystone Logistics, Inc, Nefab Group and few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players. The US market is expected to expand significantly as a result of the government's increased emphasis on expanding their manufacturing sector through trade deals and the 'Make in America' initiative.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients' needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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Informes de Expertos (https://informesdeexpertos.com), the Spanish variant of Expert Market Research, is a platform that offers market research and consultancy services to a broad clientele base across Spanish speaking countries. With our primary focus on the Latin America and Spain markets, our research experts provide relevant and actionable insights into the markets and track major trends, economic developments, and global trade data.

Determined to bring client satisfaction, we make sure that our tailored approach meets the client's unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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