The global plastic pallets market
was valued at 430 Million Units in 2018, according to Plastic Pallets Market Report, by Product Type (Lumber Plastic, and Molded Plastic), by Pallet Type (Nestable, Rackable, and Stackable), by End-use Industry (Food & Beverages, Pharmaceuticals, Chemicals, Construction, and Others (Electronics and Others)), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by
The global plastic pallets market is expected to reach 586.05 Million Units by 2027, exhibiting a CAGR of 3.5% over the forecast period. Rising environmental concerns related to plastic pollution have led companies to focus on using recyclable plastic for pallet production, manufacturing biodegradable plastic pallets, and making pallets from plastic derived from biomass.
Market players are focused on developing high quality plastic pallets, which can be reused without wear and tear. Moreover, they are focused on manufacturing pallets using 100% recyclable plastic which can be recycled further to manufacture new plastic pallets. For instance, Range International, a manufacturer of plastic products offers plastic pallets derived from waste plastic sources. The company uses its unique production technology, ThermoFusion, for production of the plastic pallet ‘Re>Pal pallets’, which is made from recycled plastic waste. Re>Pal uses less energy for manufacturing, compared to other pallet types.
However, stringent regulations imposed by government authorities are expected to restrain growth of the plastic pallets market over the forecast period. For instance, plastic pallets are tested according to ISO 8611 standards set by International Organization for Standardization. ISO 8611:2011(E) is 3-part set of internationally recognized guidelines used for assessing the overall quality of storage pallets. According to these guidelines, pallets of all materials are put through a series of testing to test properties such as durability, racking capability, and payload slip resistance to ensure their quality & safety.
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Browse 64 market data tables* and 32 figures* on "Plastic Pallets Market” - Global forecast to 2027
Key Trends and Analysis of the Plastic Pallets Packaging Market:
Key Takeaways of the Market:
- Among end-use industry, others segment accounted for the largest market share. The others segment include end-use industries such as electronics, among others. The electronics industry requires pallets with anti-static properties, which can prevent accumulation of static charge. In the electronics industry, pallets are manufactured without using splinters or nails in order to prevent damages such as punctures and scratches to electronic products. Retail stores use hygienic, durable, and reliable plastic pallets to save storage space. In the air freight industry, lightweight plastic pallets have wider application compared to wooden pallets as plastic pallets are able to handle significant weight, and are durable.
- Europe accounted for a significant market share of 15% in 2018 in the global plastic pallets market, due to increasing focus on manufacturing recyclable pallets by key players of this region. For instance, Gifu Plastic Industry Co., Ltd. offers ‘Bio Risu Pallets’ that are made from traditional petroleum-derived plastics, which is infused with 5-50% plant-derived biomass plastic. Therefore, players operating in the plastic pallets market in Europe have opportunities to produce eco-friendly and sustainable plastic pallets, in order to reduce negative impact on environment.
- Major players operating in the global 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, and Paxxal Inc., among others.