Plastic Pallet Market

Introduction of the Plastic Pallet Market Report

The plastic pallet refers to a composite platform used for storing, stacking, handling and transporting goods. Plastic pallet are used in tertiary packaging and used for shipping materials that are vulnerable to damage and spoilage.

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Market Dynamic

Key Drivers and Emerging Trends

Rising industrialization coupled with the growing demand of hygienic, contamination-free, and durable pallets in industries including food, chemical, and pharmaceutical industries for the logistics of products and equipment is expected to drive the growth of the plastic pallets market size. Addition, plastic pallets including export plastic pallets, display plastic pallets, spill control plastic pallets, shipping plastic pallets,  anti-static plastic pallets, and drum plastic pallets, offering hygiene, and much longer lifespan is further supporting the market growth.

Moreover, according to the Plastic Oceans International, over 380 million of plastic is manufactured every year, which is expected to contribute to the growth of the plastic pallet market. Furthermore, the increasing introduction of tracking devices including GPS, RFID tags, Bluetooth, and the Internet of Things (IoT) is further enabling the tracking of pallets and tracing the goods throughout the supply chain. This is expected to provide growth opportunities to the plastic pallet market.

Restraint in the Plastic Pallet Market

However, the initial investment for the manufacturing of plastic pallets is high owing to the limiting availability and high price of raw materials is expected to restraint the growth of the plastic pallets market during the forecast period.

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Material – Segment Analysis

Based on the material, high-density polyethylene (HDPE) is projected to hold a major share in the market during the forecast period owing its durability, high strength, stability under different temperatures, and shock absorption benefit. In addition, it offers an ease of recycling, which further stimulate the growth of the market during the forecast period.

Type – Segment Analysis

Based on the type, the stackable pallet is anticipated to grow at a high CAGR over the forecast period. This is primarily due to its benefits of fitting together in a compact and stacking right on top of each other that helps in easy storage and less space occupancy. Additionally, stackable plastic pallets provide maximum stability to the goods and used for transporting heavy goods over longer distances in industries including automotive, chemicals, and construction.

End-Use Industry – Segment Analysis

Based on end-use industry, pharmaceuticals is expected to grow at a high rate primarily due to the increasing use of plastic pallets for transporting medicines and vaccines from manufacturers to wholesalers and pharmacies and their several benefits including cost-effectiveness; efficiency; strong chemical resistance; more hygienic, durable and safer than wood and metal pallets. Moreover, the growing health consciousness, increasing incidences of chronic diseases and epidemics, and rising production of generic pharmaceuticals is further promoting the demand for plastic pallets over the forecast period.

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Regional – Segment Analysis:

North America is expected to grow at a notable CAGR over the forecast period primarily due to the increasing manufacturing sector, highly developing industries including food, pharmaceutical, chemicals, and others.  Growing e-commerce industry is further contributing to the increasing demand of plastic pallets. The presence of leading players including Orbis Corporation, Rehrig Pacific Company, TMF Corporation, and Allied Plastics, Inc. is expected to escalate the market growth.

Top Market Players

Several leading Plastic Pallet companies operating in the market, include, Orbis Corporation, Rehrig Pacific Company, Monoflo International, TMF Corporation, Allied Plastics, Inc., Perfect Pallets, Inc., Polymer Solutions International, Inc., TranPak, Inc., PECo Pallet, and Tosca Ltd. among others. 

Key Developments: 

• • In 2020, Tosca Ltd., one of the prominent providers of reusable packaging and supply chain solutions, acquired Contraload NV, a leader in plastic pallet pooling in the United Kingdom and European Union.

Segments covered in the Report:

The global Plastic Pallet market has been segmented on the basis of material, type, end-use industry, and key regions. Based on material, the market is segmented into High Density Polyethylene (HDPE), Low Density Polyethylene (LDPE), Polypropylene (PP), and others. Based on the type, the market is segmented into nestable, rackable, stackable, and others. Based on the end-use industry, the market is segmented into food & beverage, chemicals, pharmaceuticals, petroleum & lubricants, and others. 

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Key questions answered in this research report:

• • At what pace is global plastic pallets market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Plastic Pallet Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Plastic Pallet Market?
  • Which material generated maximum revenues in 2020 and identify the most promising material during the forecast period?
  • What are the various end-use industries of global Plastic Pallet Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Material, By Type, By End-use Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Orbis Corporation, Rehrig Pacific Company, Monoflo International, TMF Corporation, Allied Plastics, Inc., Perfect Pallets, Inc., Polymer Solutions International, Inc., TranPak, Inc., PECo Pallet, and Tosca Ltd. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Plastic Pallet Market by Material

• • High Density Polyethylene (HDPE)
  • Low Density Polyethylene (LDPE)
  • Polypropylene (PP)
  • Others

Global Plastic Pallet Market by Type

• • Nestable
  • Rackable
  • Stackable
  • Others

Global Plastic Pallet Market by End-Use Industry

• • Food & Beverage
  • Chemicals
  • Pharmaceuticals
  • Petroleum & Lubricants
  • Others

Global Plastic Pallet Market by Region

• • North America Plastic Pallet Market (Option 1: As a part of the free 25% customization)
    • North America Plastic Pallet Market by Material
    • North America Plastic Pallet Market by Type
    • North America Plastic Pallet Market by End-Use Industry
    • US Plastic Pallet Market All-Up
    • Canada Plastic Pallet Market All-Up
  • Europe Plastic Pallet Market (Option 2: As a part of the free 25% customization)
    • Europe Plastic Pallet Market by Material
    • Europe Plastic Pallet Market by Type
    • Europe Plastic Pallet Market by End-Use Industry
    • UK Plastic Pallet Market All-Up
    • Germany Plastic Pallet Market All-Up
    • France Plastic Pallet Market All-Up
    • Spain Plastic Pallet Market All-Up
    • Rest of Europe Plastic Pallet Market All-Up
  • Asia-Pacific Plastic Pallet Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Plastic Pallet Market by Material
    • Asia-Pacific Plastic Pallet Market by Type
    • Asia-Pacific Plastic Pallet Market by End-Use Industry
    • China Plastic Pallet Market All-Up
    • India Plastic Pallet Market All-Up
    • Japan Plastic Pallet Market All-Up
    • Rest of APAC Plastic Pallet Market All-Up
  • RoW Plastic Pallet Market (Option 4: As a part of the free 25% customization)
    • RoW Plastic Pallet Market by Material
    • RoW Plastic Pallet Market by Type
    • RoW Plastic Pallet Market by End-Use Industry
    • Brazil Plastic Pallet Market All-Up
    • South Africa Plastic Pallet Market All-Up
    • Saudi Arabia Plastic Pallet Market All-Up
    • UAE Plastic Pallet Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Plastic Pallet Market All-Up

Major Players Operating in the Plastic Pallet Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Orbis Corporation
  • Rehrig Pacific Company
  • Monoflo International
  • TMF Corporation
  • Allied Plastics, Inc.
  • Perfect Pallets, Inc.
  • Polymer Solutions International, Inc.
  • TranPak, Inc.
  • PECo Pallet
  • Tosca Ltd.