Published Date: 30-Jun-2022
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According to a new report, published by KBV research, The Global Pallets Market size is expected to reach $104.4 billion by 2028, rising at a market growth of 4.7% CAGR during the forecast period.
The Wood segment acquired maximum revenue share in the Global Pallets Market by Material in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $59.3 billion by 2028. The wood pallet is the industry leader, offering exceptional value in terms of both price and performance. Wood is a sturdy, low-cost material that may be easily produced in numerous sizes. These pallets are also easy to dispose and are not as harmful to the environment as plastic pallets
The Nestable segment is showcasing a CAGR of 5% during (2022 - 2028). Since they may be nested into each other, they take up less room during return freight and are more cost-effective than other pallet kinds. They're also less expensive than rackable and stackable alternatives, making them excellent for export and open-loop supply chain applications.
The Non-rental segment is leading the Global Pallets Market by Application in 2021, thereby, achieving a market value of $76.04 billion by 2028. Large companies prefer to buy pallets as the wholesale prices of pallets are pretty low. Pallets becoming increasing durable and reusable have led to the dominance of this sector.
The Chemical market has shown growth rate of 5% during (2022 - 2028). Plastic pallets are commonly used in the chemical industry to transport various powder, granule, and liquid form materials. Pallets are used to load, unload, and transport plastic polymers such as PET, PP, ABS, and others, minerals, alloys, and chemicals. Due to their low cost and extensive availability, wooden pallets are commonly used in the chemical industry for export applications.
The Asia Pacific market dominated the Global Pallets Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $42.3 billion by 2028. The North America market is estimated to witness a CAGR of 4% during (2022 - 2028). Additionally, The Europe market would experience a CAGR of 4.4% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/pallets-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Brambles Limited, Schoeller Allibert B.V., UFP Industries, Inc., Cabka Group GmbH, Rehrig Pacific Holding, Inc., Craemer Holding GmbH, Menasha Corporation, Loscam International Holdings Co., Ltd., Millwood, Inc., and Falkenhahn AG.
By Material
By Type
By Application
By End Use
By Geography
Companies Profiled
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Related Reports:
North America Pallets Market Size & Opportunities 2022-2028
Europe Pallets Market & Growth Forecast 2022-2028
Asia Pacific Pallets Market Share & Industry Outlook to 2028