A new research report by IMARC Group, titled “Pallet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, estimates that the global pallet market reached a volume of 7.6 Billion Units in 2020. pallets are horizontal platforms which offer a base for storing, handling, assembling and transporting products and materials. They are a type of tertiary packaging affixed with a superstructure and a bottom. Pallets are portable and easy to handle as they help in simplifying the process of loading and unloading and ensure safe delivery of the product. As a result, they are extensively used by suppliers and manufacturers of commercial goods across the globe.
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Global Pallet Market Drivers/Constraints:
Type Insights:
On the basis of type, the market has been segmented into wood, plastic, metal and corrugated paper. Amongst these, wood pallets exhibit a clear dominance in the market as they are lightweight, stiff, durable and cost effective.
Application Insights:
Pallets currently find myriad applications across various sectors which include food and beverage, chemical and pharmaceutical, machinery and metal, and construction. The food and beverage sector currently represents the largest segment.
Structural Design Insights:
Based on structural design, the market has been segregated as block, stringer and others. Block pallets generally use plywood, solid wood, or plastic blocks for supporting the unit load, whereas, stringer pallets use boards of 2 x 4’s or 3 x 4’s, placed between the top and bottom deck boards.
Regional Insights:
On a geographical front, North America represents the largest region for the global pallet market, accounting for the majority of the market share. This can be accredited to rapid development in the industrial sector and an increase in exports across the region. Some of the other major markets include Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Import and Export:
On the basis of imports and exports scenario, Germany currently represent the largest importer, whereas, Poland represents the biggest exporter of pallet across the globe.
Competitive Landscape:
The market is characterised by the presence of several regional and global manufacturers who are investing in product development in order to improve their portfolio as well as increase the functionality and efficiency of the products. Some of the leading players operating in the market are:
Breakup by Type:
Breakup by Application:
Breakup by Structural Design:
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Key highlights of the report:
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