NEWARK, Del, Feb. 22, 2023 (GLOBE NEWSWIRE) -- According to a recent projection by FMI, sales of molded wood pallets is estimated to increase from US$ 2.70 billion in 2023 to US$ 4.66 billion in 2033. The molded wood pallets market is projected to develop at a CAGR of 5.6% during the forecast period.
The market value is increasing due to factors including the advantageous properties of molded wood pallets, such as their rigidity, high tensile strength, durability, low weight, and temperature resistance. Regulations governing the transportation of wooden packing materials as well as a surge in the use of packaging options that are more convenient and effective than alternative pallets further boost market demand.
Request a sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-6215
The production and logistics of manufactured goods are expected to increase along with the adoption of environment-friendly manufacturing processes that use less energy. This advances efforts to achieve sustainability goals. This is also expected to increase the global demand for molded wood pallets.
Improvements to traditional storage methods using molded wood pallets and rising public knowledge regarding the advantages of using molded wood pallets in the process both drive market expansion. Molded wood pallets have several advantages, including low cost, a nestable design, safety awareness, space savings, and ease of export.
The availability of specialized and distinctive products that can be altered in weight and size presents a lucrative potential for market expansion. Companies that produce pallets for the market concentrate on creating goods that are lightweight, strong, and useful for customers. Key companies also focus on supplying cutting-edge pallets with RFID chips attached for tracking and tracing reasons.
The molded wood pallets market in North America is expected to lead the global market during the forecast period. The adoption of molded wooden pallets for importing and exporting commodities across nations is projected to be the main factor driving expansion in this sector.
Key Takeaways:
- The market in the United Kingdom is anticipated to rise, exhibiting a CAGR of 3.5% through 2033.
- The United States dominated the market in 2022 holding a 15.6% share of the global market.
- With a CAGR of 8.6% over the forecast period, India is predicted to develop significantly in the market.
- The market in China is expected to proliferate, registering a CAGR of 8.1% over the forecast period.
Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-6215
Competitive Landscape:
The top market players in the molded wood pallets market are Litco International Inc, Millwood, Inc, Snyder Industries, Inc, The Nelson Company, Beacon Industries Ltd, Brambles Ltd, Nefab Group, Presswood International BV, CABKA Group GmbH, Schoeller allibert services b.v, Loscam Australia pty ltd, Kronus Group, Linyi Kunpeng Wood Co., Ltd, Taik Sin Timber Industry Sdn Bhd, and others
Key players in the molded wood pallets market have chosen acquisition, merger, product launch, business expansion, and agreement as their main developmental methods to provide customers with great products and services. Companies competing in the market are also attempting to form strategic alliances and partnerships with other producers to increase the scope of their product lines.
RECENT DEVELOPMENTS:
- In November 2022, Millwood has completed its acquisition of Southworth Wood Products. The 51-acre new region is going to be referred to as MillTree East. Band saws are now being used to reduce the size of the material for pallet assembly. Custom containers and pallets will also be created at this new location, according to the release.
- In August 2020, Southern Molded Pulp and Molded Fiber Technologies and Acorn Pulp Group entered into a settlement agreement for their state-of-the-art molded fiber manufacturing equipment, which guarantees efficient manufacture of the molded wood pallets.
Molded Wood Pallets Market Segmentation
By Product Type:
- Nestable /Stackable
- Rackable Pallets
By End Use:
- Manufacturing
- Food & Beverages
- Chemicals
- Automotive
- Pharmaceuticals
- Others
- Logistics & Transportation
- Building & Construction
By Size:
- Full-size Pallet
- Quarter-size Pallet
- Half-size Pallet
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Ex. Japan (APEJ)
- Middle East & Africa (MEA)
- Japan
Ask For Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-6215
Table of Content
1. Executive Summary | Molded Wood Pallets Market
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation Trends
4. Global Market Demand Analysis 2016 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Volume (Units) Analysis, 2016 to 2022
4.2. Current and Future Market Volume (Units) Projections, 2023 to 2033
4.3. Y-o-Y Growth Trend Analysis
Report Preview with Complete TOC: https://www.futuremarketinsights.com/reports/molded-wood-pallets-market
Have a Look at Related Research Reports of Packaging
Blow Molded Plastic Market Share: The global blow molded plastic market is created by the unique manufacturing process of blow molding, usually the procedure for creating hollow plastic parts. The blow molded plastic market is projected to have a moderate-paced CAGR of 7.4% during the forecast period.
Molded Pulp Basket Market Sales: Molded Pulp Basket Market is expected to reach greater heights in 2032, likely to surge at a vigorous CAGR growth during the assessment period 2022-2032.
Molded Fiber Pulp Packaging Market Outlook: The global demand in the molded fiber pulp packaging market is estimated to register year-on-year (YoY) growth of 3.1% in 2023, with a value reaching US$ 8.40 billion. Future Market Insights projects the market to grow at 4.9% CAGR between 2023 and 2033.
Molded Fiber Pulp Cap Market Growth: The global molded fiber pulp cap market size reached US$ 1.16 Bn in 2021 and is likely to touch a valuation of US$ 1.2 Bn in 2022. Furthermore, with increasing usage across industries like food & beverages, automotive, cosmetics & personal care, and healthcare, the overall sales of molded fiber pulp caps are slated to rise at 4.4% CAGR between 2022 and 2032, totalling a valuation of US$ 1.8 Bn by 2032.
Molded Underfill Material Market Value: The global molded underfill material market is slated to touch a market value of US$ 8 Billion in 2022, and is expected to register a value CAGR of 5% until 2032. As per Future Market Insights, molded underfill material market demand is likely to be valued at US$ 13.03 Billion by the end of the 2022-2032 assessment period.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
