Block Pallets Market Overview
As per the latest industry survey conducted by Future Market Insights, due to rise in global shipping and logistics business there has been an exponential rise in demand for block pallets across the globe. According to the future growth projections the global block pallets market is anticipated to grow at 6%-6.5% CAGR between 2021 and 2031.
Based on our results the sales of block pallets market is estimated to reach billions of units, as growth witnessed by global logistics and supply chain industry across the globe.
Block Pallets Market: Market Introduction
Block pallets are essential storage and transportation solutions for local as well as international transportation of any manufacturing or shipping company. The pallets made up of wood, plastic or plywood, also known as ‘’four-way’’ pallets are made up of 12 cylindrical blocks to support the top deck board are known as block pallets globally.
The block pallets allows forklifts and other pallet jacks to access the pallet from all four sides, though block pallets are more stronger than other types of pallets such as stringer pallets. Block pallets are gaining worldwide popularity due to safety it provides to the bulk loaded on it while transit.
In modern day supply chain pallets are regarded as essential elements, as foundation of unit loads for shrink wrapping, simply storing them or either manufacturer or shipper is strapping or shipping their bulk sized loads.
What Drives Demand For Block Pallets Across The Globe?
Most unique feature of block pallets is they can be easily customized as per the requirement of the load to be stored on it, for carrying food & beverages, for carrying automotive equipment, varied uses of block pallets across all industries has positive impact on its demand across continents.
Manufacturers producing wooden block pallets are making wooden pallets matching the international safety and quality standards making them suitable for carrying loads to the farthest markets.
The wooden block pallets do not require any chemical coating and resistant to harsh environmental changes during the transit of loads, along with designs which are lighter than other load carrying counterparts indicates towards expansion of global block pallet market due to rise in demand registered in all parts of the world.
What Factors Are Limiting Growth of Global Block Pallets Market?
The cost of block pallets is higher than the other load handling pallets, manufacturers and operational facilities operators are preferring over other alternative pallets available in the market in lesser price. Thus, high cost incurred for procurement of block pallets has a negative impact on demand for block pallets globally.
Blocks places inside the block pallets to support the unit load placed on it are not repairable, instead of repairs those blocks needs to be replaced in shorter time periods, thus it incurs a high cost of maintenance for the end user industries using block pallets. Moreover, it impacts the overall growth potential of the global block pallets market over the forecasted period.
Which Lucrative Growth Opportunities Are Offered By Global Block Pallet Market?
Key global industry players are switching to sustainable practices and marketing themselves as sustainable practitioners, the wooden block pallets can allow them to meet their sustainability goals as wooden block pallets are made up of wood and does not have any negative impact on the environment. Eventually provides a lucrative growth opportunity for the block pallet manufacturers in all parts of world.
The manufacturers of block pallets can differentiate themselves from each other by marketing their pallets as 100% recyclable features of wooden block pallets. Large scale industries and shipping companies adapting block pallets over other types of pallets, indicates towards expansion of global block pallets market.
Currently the block pallets are most preferred pallet type in Europe only, due to increase in market popularity and variety of safety features offered to bulk loads by block pallets, the key global market players of block pallets can target larger untapped markets witnessing fast paced development in manufacturing and logistics sector to expand their market bases by catering developing markets.
Key Market Players of Block Pallets Market
- Rehrig Pacific Company
- Schoeller Allibert
- CABKA Group
- DMD BIS SP Z O O
- UFP Industries, Inc.
- Shur-way Group Inc.
Key Market Players in Asia-Pacific Region of Block Pallet Market
- Saraswati Engineering Limited
- DNA Packaging Systems
- Spanco Storage Systems
- Mekins Group
- BDI Group of Companies
What Makes The U.S. Most Important Market for Block Pallets?
Stringent pallets were most used pallet type in the U.S. market, but due to more international trade organizations and key manufacturers adapting block pallets for enhanced safety and convenience for storage & movement of bulk loads, recent decade has witnessed a sharp rise in demand for block pallets in the U.S.
Manufacturers of pallets are using sustainable raw materials such as wood and metals to produce block pallets to serve the increasing demand from ever-growing food & beverages industry and thriving chemical production industries in the country. In addition to all this the rise in demand for block pallets in U.S. market indicates towards expansion of global block pallets market in whole North American region over the forecasted period.
Why India and China Robustly Growing Markets For Block Pallets?
Exponential growth witnessed by shipping & logistics industry in India, along with increasing warehousing and storage facilities due to favourable government policies and easy finance schemes throughout the country has resulted in sharp rise in demand for safe unit material handling solutions such as block pallets across the country.
Being a global manufacturing hub for almost all the industries including automobiles, electronics and chemicals, presence of large scale operational facilities in the country, makes China a fast growing market for block pallets. Due to significant rise in exports driving demand for bulk material handling and storage solutions such as block pallets made of different materials, resulting in growing sales of block pallets in China.
How Covid-19 Impacted Block Pallets Market?
The spread of covid-19 virus curbed all types of production and supply chain activities across the globe, only manufacturing and distribution of food & beverages along with pharmaceutical supplies was permitted under strict regulations imposed by regulatory authorities.
Block pallets form an inseparable part of international supply chains and storage for all types of manufacturers and logistical partners, the demand for block pallets had a medium impact as international trade and production of pharmaceutical goods and food & beverage products was more than usual as a result of panic buying from consumers. Thus, after the pandemic ends the sales of block pallets is anticipated to record positive growth over the upcoming decade.
Global Block Pallet Market Segmentation
Segmentation based on Material:-
Segmentation based on Pallet Size:-
- 48 inches X 40 inches
- 42 inches X 42 inches
- 48 inches X 48 inches
Segmentation based on End-User Industry:-
- Food & Beverages
- Shipping & logistics
- Electronics & Electricals
Segmentation based on region:-
- North America
- Latin America
- South Asia
- East Asia
- The Middle East and Africa