Plastic pallets are stable and flat plastic platforms, which are used to support and transport goods & materials.
Plastic pallets are stable and flat plastic platforms, which are used to support and transport goods & materials. Plastic pallets are used in processing and manufacturing units, conveying systems, distribution centers, static storage, and for transportation of heavy items to the production unit. For instance, plastic pallets are used at cold storages & food processing units, supermarkets, butcheries & bakeries, spinning & dying units, packaging sections, cement & fertilizers production units, publishing, and printing houses, by garment exporters, book publishers, and storing & transporting books and stationary items among others. The market is expected to reach 586.05 million Units by 2027, at a CAGR of 3.5% over the forecast period, owing to the growing end-use industries.
Plastic pallets are used in warehouses for storing raw materials as well as finished products in a convenient way, and for efficient handling and storage of products in various end-use industries such as food & beverage, pharmaceutical, chemical, and textile industries, among others. Growing end-use industries across the globe is expected to drive growth of the market over the forecast period. For instance, according to the report, ‘Data & Trends, EU Food & Drink Industry 2018’, published by FoodDrinkEurope (a food industry confederation in the European Union) in October 2018, intra-EU exports of the Europe food & beverage industry accounted for US$ 303.77 Bn in 2017, and extra-EU exports accounted for US$ 122.40 Bn. Plastic pallets are widely used for efficient shipping and transportation of products from one place to another. Therefore, increasing trade of food products & beverages is expected to boost demand for global plastic pallets over the forecast period.
Among pallet type, rackable segment is expected to account for significant market share during the forecast period, owing to high stability as rackable pallets are designed with the objective to provide maximum stability during storage. Owing to the picture frame design at the bottom of the pallets, these pallets have applications such as packaging and transportation of products in end-use industries.
Lumber plastic pallets have the appearance and feel of wooden pallets. Lumber plastic pallets are manufactured from recycled plastic. Plastic lumbers have application in logistics and transportation sectors. Moreover, plastic lumbers are excellent alternatives for wooden pallets, owing to high strength compared to wooden pallets. Lumber plastic pallets have optimal material handling properties and can be used with pallet-jacks, forklifts, and stackers among others. Therefore, recycled lumber plastic is a sustainable, and durable alternative to standard wooden pallets.
The global plastic pallets market is expected to be valued at 586.05 Million Units by 2027 and is expected to register a CAGR of 3.5% in terms of revenue over the forecast period (2019 – 2027).
By Coherent Market Insights Pvt. Ltd.