Plastic Pallets are made from plastic material. They are stable and flat plastic platforms, used to support and transport goods & materials. Plastic pallets are widely used in static storage, processing and manufacturing units, distribution centers, conveying systems, and for logistics and transportation of heavy items to the production unit. Also, it has huge applications in cement & fertilizers production units, cold storage & food processing units, butcheries & bakeries, supermarkets, publishing and printing houses, spinning & dying units, packaging sections, and storing & transporting books and stationery items among others. The rising demand for chemicals and growing chemical, food & beverage and pharmaceutical industries across the globe are the few factors responsible for the growth of the market over the forecast period. According to Cefic, China produced chemicals of around 1198 billion pounds in the year 2018 which contributed to 35.8% of the global chemical sales in the year 2018. Similarly, The (BRIC) countries which include the countries of Brazil, Russia, India and China alone accounted for about 42.8% of the global chemical production in the year 2018 subsequently resulting in fueling the demand and adoption of Plastic Pallets in the chemical plants and facilities. For instance: as per Statista, the Brazilian food & beverage industry generated USD 61.48 billion in 2010 and has risen to USD 130.15 billion in 2019. Whereas, stringent government regulations on the use of plastics are the major factor restraining the growth of the global Plastic Pallets market during the forecast period.
Global Plastic Pallets Market is valued approximately at USD 6.42 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.3% over the forecast period 2020-2027 and is estimated to reach USD 9.7 Billion by 2027.
The regional analysis of the global Plastic Pallets market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and the Rest of the World. The Asia Pacific is the leading/significant region across the world owing to the rapid industrialization in the region, coupled with the exponential growth of e-commerce.
Major market players included in this report are Orbis Corporation, Rehrig Pacific Company Inc, Monoflo International, CABKA Group, Greystone Logistics, TMF Corporation, Allied Plastics, Inc, Perfect Pallets Inc, Polymer Solutions International Inc, and TranPak, Inc.
The detailed segments and sub-segment of the market are explained below:
By Type: Nestable, Rackable, Stackable, Others
By Material: High-density Polyethylene, Low-density Polyethylene, Polypropylene, Others
By End-Use: Food & Beverages, Chemicals, Pharmaceuticals, Petroleum & Lubricants, Others
By Region: North America, Europe, Asia Pacific, Latin America, Rest of the World
Furthermore, the years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Plastic Pallets Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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