Plastic Pallets Market by Material and Geography - Forecast and Analysis 2022-2026

The plastic pallets market share is expected to increase by USD 1.48 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.28%.

The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentations by material (HDPE and PP) and geography (APAC, Europe, North America, South America, and Middle East and Africa).

The plastic pallets market report offers information on several market vendors, including Agrico Plastiques Ltee, Allied Plastics Inc., Brambles Ltd., CABKA Group GmbH, CTC Plastics, DIC Corp, Enlightening Pallet Industry Co. Ltd., Greif Inc., Greystone Logistics Inc., Kamps Pallets Inc., Litco International Inc., Loscam International Holdings Co. Ltd., Monoflo International Inc., Myers Industries Inc., Nefab AB, Perfect Pallets Inc., PGS Group, Polymer Solutions International Inc., PURUS PLASTICS GmbH, Rehrig Pacific Co., Schoeller Allibert BV, SDI Packaging Inc., T.M. Fitzgerald and Associates, TranPak Inc., and Vierhouten Groep BV among others.

Brambles Ltd. - The company is publicly held and headquartered in Australia. It is a global company generating USD 5,210 million in revenues and has around 11,569 employees. Its revenue from the global plastic pallet market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. The company offers a plastic pallet product designed to incorporate elements of biomimicry in its honeycomb surface and is also recyclable. 

What will the Plastic Pallets Market Size be During the Forecast Period?

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Parent Market Analysis

Technavio categorizes the global plastic pallets market as a part of the global metal and glass containers market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period. 

Plastic Pallets Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post-COVID-19 era. The benefits associated with the use of plastic pallets is notably driving the market growth, although factors such as regulatory norms and standards on the use of plastic pallets may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Plastic Pallets Market Driver

• The benefits associated with the use of plastic pallets is one of the key drivers fueling the market growth.
• Plastic pallets offer higher durability, reliability, and space efficiency than other types of pallets, such as material (or load) handling equipment. These benefits are driving the adoption of plastic pallets, thereby increasing the revenue generation of the market in focus.
• Wood, plastic, and metal are the three most common types of pallets used as load or material handling equipment. Furthermore, plastic pallets generally cost lesser than wooden or metal pallets.
• Plastic pallets offer better space efficiency in terms of space-saving when they are stacked. They also do not break or develop cracks, thus resulting in higher durability.
• Plastic pallets can accommodate more types of goods, having different shapes and sizes, compared with wooden or metal pallets because plastic pallets are flexible in terms of design. In addition, they are safer to handle as they do not have sharp edges and fixed construction. These factors play a crucial role in driving the growth of the market in focus.

Key Plastic Pallets Market Trend

• Manufacturing plastic pallets using 100% recyclable plastics is one of the key market trends propelling market growth.
• Vendors have been working on increasing the number of plastic pallets manufactured from 100% recyclable plastics. This is owing to the continuous focus on reducing carbon footprint and environmental pollution. It has a high energy-saving potential, which can be attained through intrinsic recyclability. 
• Most of the prominent vendors operating in the global market are working on manufacturing 100% environmentally sustainable plastic pallets.
• Prominent vendors are using 100% recyclable business plastic and household waste plastics to differentiate their plastic pallet offerings and minimize carbon footprint. Meanwhile, the focus is on reducing energy consumption and minimal emission of carbon dioxide during the manufacturing process of plastic pallets. Thus, the use of 100% recyclable plastic to manufacture plastic pallets not only helps in environmental sustainability but also ensures cost optimization.

Key Plastic Pallets Market Challenge

• Regulatory norms and standards on the use of plastic pallets is one of the factors limiting the market growth.
• The use of plastic pallets in specific industries is governed by regulatory norms to ensure compliance with the required safety norms and environmental sustainability. These regulatory norms are evident in the food processing and packaging industry. 
• In the US, the Food and Drug Administration (FDA) formulated certain standards for food processing, handling, and transportation. The Food Safety Modernization Act (FSMA) is a set of regulations that are aimed at preventing food contamination by bacteria, chemicals, and other harmful external agents. This also suggests that the players operating in the food processing industry in the US should use sanitary food transportation equipment.
• The engagement of market vendors in corporate social responsibility (CSR) activities is of the utmost importance to understanding vendors' contribution toward carbon footprint. Vendors should also ensure the minimum use of hazardous substances such as lead, mercury, cadmium, and polybrominated biphenyls in plastic pallet manufacturing. Such regulatory standards pose design and manufacturing constraints for vendors operating in the market, thereby acting as a market inhibitor.

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Plastic Pallets Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the plastic pallets market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report. 

Which are the Key Regions for Plastic Pallets Market?

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44% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for plastic pallets market in APAC. Market growth in this region will be slower than the growth of the market in South America.

The rising disposable income will facilitate market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 had adversely impacted the regional market. However, the increasing production of COVID-19 vaccines and the initiation of vaccination campaigns are expected to boost the demand for plastic pallets in the region during the forecast period.

What are the Revenue-generating Material Segments in the Plastic Pallets Market?

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The market share growth in the HDPE segment will be significant during the forecast period. High-density polyethylene (HDPE) pallets dominated the global market in terms of market share in 2020. It is expected to continue dominating the market during the forecast period, as they offer various benefits over PP pallets, which is contributing to revenue generation in this segment. This has made HDPE pallets preferable among medium and large-scale industries with significant material handling requirements. In addition, the demand for highly durable, reliable, and hygienic plastic pallets is driving the use of HDPE pallets. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment. 

 

Plastic Pallets Market Scope
Report Coverage	Details
Page number	136
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 4.28%
Market growth 2022-2026	USD 1.48 billion
Market structure	Fragmented
YoY growth (%)	3.56
Regional analysis	APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution	APAC at 44%
Key consumer countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Agrico Plastiques Ltee, Allied Plastics Inc., Brambles Ltd., CABKA Group GmbH, CTC Plastics, DIC Corp, Enlightening Pallet Industry Co. Ltd., Greif Inc., Greystone Logistics Inc., Kamps Pallets Inc., Litco International Inc., Loscam International Holdings Co. Ltd., Monoflo International Inc., Myers Industries Inc., Nefab AB, Perfect Pallets Inc., PGS Group, Polymer Solutions International Inc., PURUS PLASTICS GmbH, Rehrig Pacific Co., Schoeller Allibert BV, SDI Packaging Inc., T.M. Fitzgerald and Associates, TranPak Inc., and Vierhouten Groep BV
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Plastic Pallets Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the plastic pallets market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the plastic pallets industry across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of plastic pallets market vendors

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