Wooden Pallets Market
Revenues in the wooden pallets market are expected to increase at a steady growth rate of nearly 3%-4% during 2021-2031. Increasing demand for affordable, durable, and strong packaging suitable for long-distance transport between 2020 and 2021, is expected to expand the wooden pallets market across various industries such as wine & beverages, automobile, furniture, etc.
Wooden Pallets Market: An Overview
The global wooden pallets market provides several wooden packaging options to industries demanding affordable packaging options as to when compared to other pallet verities wooden pallets are an inexpensive option. Although several wood options are available in the market the most common one is timber which is way cheaper than others and some metals.
Even after their affordability the strength and durability of this packaging are not compromised. Furthermore, the wooden pallets are widely available with customization options that suit shippers that need an instant supply of this packaging.
In wine & beverages industry, these are popularly used for transportation as it provides a strong and reliable option for such fragile product. Similarly in the medical industry, these are used to transport medical equipment that is fragile and sensitive. High demand for cheap and instantly available packaging is expanding its market.
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What Accelerates the Market Growth of Wooden Pallets Market?
The major market growth of this packaging product will be provided by the logistics industry. In packaging, pallets are an important logistics equipment and, in most cases, it is used as a load carrier.
In logistics these pallets can be easily employed to pile up, store, assemble, or transport goods across large distances and also improves warehouse operational efficiency by permitting an easy movement of stacked goods using machines or tools such as forklifts and pallets jacks.
The wide variety of wooden pallets available and their application is determined by the type of product, packaging dimensions, frequency of use, shipping destination, transportation conditions, and budget. The effortless reliability that this product offer to the logistics industry is a potent factor that will accelerate the growth of the wooden pallets market.
How will the Rise of Energy, Oil, and Gas industries Work as a Demand Accelerator for Wooden Pallets Market?
The energy, oil & gas industries face unique challenges every day. These industries are working around the clock and that too in challenging environments. The increasing global population has caused a demand high enough that the conventional energy delivery options are not enough.
And hence these industries are utilizing wooden pallets in the transportation of piping and fittings, solar panels and other equipment, transformers to various locations, etc. These industries are always looking for packaging options that are safe, efficient, reusable, customizable, and strong as the equipment is often heavy. Hence, looking at all these prospects wooden pallets are an ideal choice.
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How will the Swiftly increasing E-commerce cater for the Market Opportunity for Wooden Pallets Market?
The increasing trend of comfort zone shopping and the home delivery of almost every product is opening up market expansion opportunities for the wooden pallets market.
The fact that e-commerce has connected almost every seller and buyer irrespective of their geographical limitation is what has provided a boost to the shipping and logistics industry. When there is an increase of the demanding industry then the product ought to follow.
The more e-commerce grows every day more shipping & delivery it will require and more deliveries more packaging options such as wooden pallets will be needed for the same.
Global Players: -
- Herwood inc.
- The Nelson Company
- DNA Packaging Systems
- Pallet USA
- Kronus LTD
- Litco International Inc.
- LCN Pallets and Wooden Cases
- Anderson Pallet and Crate
- Atlanta Pallets & Services
- 48forty Solutions
- Kamps Inc.
- Best Pallet & Crate LLC
- CLM Pallet Recycling
- Perfect Pallets Inc.
- B&B Pallet Company
Asia Pacific Players: -
- Hi-Tech Innovations
- Nefab Group
- Ashapuri Wood Industries
- Hindustan Packaging System (HPS)
- Shivam Packaging and others.
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What Strategies Are Adopted by Key Players for Increasing their Market Share in the Wooden Pallets Market?
Not all but many manufacturers are providing a wide variety of options in their packaging products range for wooden pellets to choose from. Depending upon the need and budget of the customers they have developed various types of wooden pallets and are providing customization options as well.
- For instance, DNA Packaging Systems is providing more than 35 ready-to-use wooden pallet options and is also providing customization options for its customers.
Why will Greece generate high demand for the Wooden Pallets Market?
According to U.S. Global Investors Inc., Greece is the largest maritime logistics, transportation, and shipping country owning more than 17% of the global shipping and a total deadweight ton of more than 300 Mn.
A country so indulged in shipping practices is ought to create great market expansion opportunities for an ideal logistics packaging product like wooden pallets. The increasing e-commerce is aiding this maritime transportation market expansion which will further help in propelling the growth of the product's market.
How has COVID-19 impacted the Growth of the Wooden Pallets Market?
According to the European Federation of Wooden Pallet & Packaging Manufacturers (FEFPEB), as the impact of a pandemic continues to be felt by companies worldwide an increase in the price of the wooden pallet packaging industry is inevitable.
Furthermore, sustained rises in the prices of raw materials like timber, and availability issues in certain markets are anticipated to create upward pressure on prices for several months. Due to this pandemic, there has been a decrease in trade across 2020 but as the construction trade and other businesses are recovered volumes have begun to increase again creating pressure on pallet timber.
Key Segments of Wooden Pallets Market Covered in the Report
By Wood Type, the wooden pallets market has been segmented as
By Entry, the wooden pallets market has been segmented as
- Two ways
- Four ways
By End Use Industry, the wooden pallets market has been segmented as
- Wine & Beverages
- Medical Equipment
- Food Distribution
By Region, the automated tray fill and seal machines market has been segmented as
- North America
- Latin America
- South Asia
- East Asia
- The Middle East and Africa
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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