The global plastic pallets market is expected to grow at a CAGR of 4.0% during the forecast period 2019 to 2026 and expected to reach around US$ 6,702.7 Mn by 2026.
Plastic pallets are the structures made of plastic material to facilitate mechanical handling of goods by a front loader, forklift, and jack among others. The manufacturing of plastic pallets is based on various methods including extrusion, thermoforming, blow molding and injection molding. Some of the widely used plastic pallets include export plastic pallets, display plastic pallets, spill control plastic pallets, hygienic plastic pallets, RFID plastic pallets, shipping plastic pallets, anti-static plastic pallets, drum plastic pallets, and transport plastic pallets.
The increasing usage of plastic pallets in prominent industries including food, manufacturing, chemical for the logistics of various products and equipment is supporting the market growth particularly due to durability and lightweight associated with plastic pallets. Additionally, the plastic pallets are gaining growth owing to the emergence of technology such as radio-frequency Identification (RFID) in plastic pallets that allows the users to track and trace the goods throughout the supply chain. Furthermore, the increasing R&D activities coupled with the technological advancements in the logistics industry are projected to create potential opportunities over the estimated period. Also, the medical industry is further projected to create lucrative demand during the forecast timeframe from 2019 to 2026.
On the other hand, the ban on plastic products in some economies is projected to hinder the growth to an extent over the forecast period.
On the basis of end-use, the market is segmented into food & beverages, pharmaceuticals, chemicals, construction, electronics and consumer goods. The plastic pallets are providing resistance to bacterial, chemical, and other forms of contamination in the food and beverage industry which is a major factor accelerating the growth in the market. Mostly hygienic plastic pallets with smooth surfaces instead of vetted surfaces are used in the food and beverage industry to prevent contamination. The benefits associated with the use of plastic pallets such as easy clean and sterilize, lightweight, and durability over wooden pallets are additionally supporting the market value. In pharmaceuticals, plastic pallets are widely used in transportation and storage due to benefit of easy synthesizing, chemically inactive and ability to prevent contamination of products stored in it. As well as, the plastic pallets meet International Standards for Phytosanitary Measures No. 15 (ISPM 15) standard which implies that the pallet material has been sufficiently treated to ensure that the material poses no threat to the ecosystem in the destination country. The plastic pallets are available in the market that satisfies Chemical Industry Pallet specification standard (CP7, CP9). The chemical industry is using plastic pallets because these are safe for handling bulk bags.
The market research study on “Plastic Pallets Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global Plastic Pallets market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global plastic pallets market, its material, pallet type, end-use, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global Plastic Pallets market size and volume, and segment markets by material, pallet type, end-use, and geography along with the information on companies operating in the market. The Plastic Pallets market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
Asia Pacific is projected to exhibit major CAGR over the estimated period
The Asia Pacific region is anticipated to project the fastest growth throughout the forecast period from 2019 to 2026, which is primarily dependent on the major economies of the region including India and China. The Asia Pacific region is gaining growth due to the robust manufacturing sector in China and India. Additionally, the outsourcing of the manufacturing capabilities of several global firms to India is further projected to create potential demand over the estimated period.
The players profiled in the report include OMNIPAK S.R.O., Smart Flow Europe SA, ORBIS Corporation, Bekuplast Gmbh, Meridian Group D.O.O., TBA Plastové Obaly S.R.O., CABKA Group, PURUS PLASTICS GmbH, Plastic Pallets Manufacturers, Paxxal Inc., and others
Market By Material
Market By Pallet Type
Market By End-use
Market By Geography
Middle East & Africa
Plastic pallets are the structures made of plastic material to facilitate mechanical handling of goods by a front loader, forklift, and jack among others.
The market for plastic pallets is expected to reach a market value of around US$ 6,702.7 Mn by 2026.
The plastic pallets market is expected to grow at a CAGR of around 4.0% from 2019 to 2026.
The food & beverage industry is a prominent user of plastic pallets.
The increasing usage of plastic pallets in prominent industries including n food, manufacturing, and chemical, durability and lightweight associated with the plastic pallets, Radio-frequency Identification (RFID) technology in plastic pallets are some of the major drivers accelerating the market value.
Some of the major players in plastic pallets market include OMNIPAK S.R.O., Smart Flow Europe SA, ORBIS Corporation, Bekuplast Gmbh, Meridian Group D.O.O., TBA Plastové Obaly S.R.O., CABKA Group, PURUS PLASTICS GmbH, Plastic Pallets Manufacturers, Paxxal Inc., and others
Asia Pacific is expected to exhibit fastest growth with major CAGR over the forecast period from 2019 to 2026.