Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Plastic Pallets Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
In light of the burgeoning demand and substantial growth trajectory forecast for the plastic pallets market, a comprehensive analysis revealing significant trends, market share, size, and future opportunities has been released. The study predicts the market to grow from USD 5.02 billion to USD 7.01 billion, at a CAGR of 6.89% during the forecast period of 2023-2028.
Industry Growth Driven by E-Commerce and Sustainability Amidst the rise of global e-commerce, there has been a concomitant increase in logistics activity necessitating extensive use of pallets for the safe transport of goods. The growing retail sector also compounds this demand, with the utility of pallets extending into efficient operations within retail environments.
The report identifies the use of High-Density Polyethylene (HDPE) as a substantial holder of the market share. HDPE's versatility and cost-effectiveness, coupled with high impact strength and compatibility with a range of chemicals, make it a preferred choice for diverse industry applications. Innovations in design, such as space-saving nested plastic HDPE pallets, cater to both transportation efficiency and regulatory compliance, thus bolstering its dominance in the market.
In-depth Regional Analysis
The Asia-Pacific region, marked by burgeoning industries in China and India and sophisticated retail logistics practices in Japan, is expected to witness robust growth. The trends in these geographies point to an increased preference for plastic pallets due to their durability, hygienic properties, and static control—essential factors for sectors like food and beverage, electronics, and retail.
Industry Landscape and Competitive Analysis
The report further segments the market to give a detailed competitive analysis. It suggests the market is fragmented with numerous players striving for dominance through innovation and strategic collaborations.
- In an illustrative case of recent advancements, there was the launch of new heavy-duty pallets capable of handling significant loads for manufacturing industries.
- Another pivotal development reported was the announcement by a global player in reusable packaging of their pallet's extended lifecycle, demonstrating a greater than twenty-five times lifecycle than traditional wood pallets.
This market investigation is instrumental for stakeholders, investors, and participants who wish to closely track the plastic pallets industry's growth trends. It provides them with crucial insights into market dynamics and forecasts future developments shaping this vital component of the logistics and supply chain industry.
A selection of companies mentioned in this report includes
- WERIT Kunststoffwerke W. Schneider GmbH & Co. KG
- Gamma-Wopla NV and Smart-Flow NV
- Q-Pall BV
- CABKA Group Gmbh
- Schoeller Allibert Group BV
- Omnipack s.r.o.
- Orbis Corporation
- NAECO SL
- Plasgad Plastic Products ACS Ltd
- CHEP (Commonwealth Handling Equipment Pool)
For more information about this report visit https://www.researchandmarkets.com/r/o832t8
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
