Pallet boxes Market Analysis: Over 50% of the Revenue to be Generated by the Plastic Pallet Box Segment in 2018, which is expected to increase further by the end of 2028
The global market for pallet boxes was valued at US$ 1,810.4 Mn in 2017 and is projected to expand at a CAGR of 4.8%, during the forecast period (2018-2028).
Pallet boxes are type of containers which are attached with a pallet base for easy lift & transportation. Pallet boxes have a wide range of applications in the storage, shipping, and distribution of heavy and bulky loads. Pallet boxes are containers generally made from wood, plastics, metal such as steel or mesh wire and paper such as cardboard or corrugated board which is used for storing & warehousing goods. One of the key factors such as easy stackability of pallet boxes which results in reduced space constraint both in warehouses as well as in shipment container is expected to drive the growth of pallet box market.
The global pallet box market is largely organized in regions such as North America and Europe whereas it is expected to witness a broader opportunity in the Asia Pacific region. The global pallet box market is expected to be largely influenced by the high demand for the processed food & beverage as well as agriculture & it’s allied industries.
In terms of material, the plastic is expected to be the most attractive material segment for manufacturing pallet boxes across the globe. As food safety compliance and reusability is a growing attraction among pallet boxes manufacturers, they are looking for sustainable material-handling options and thus, plastic pallet boxes will continue to gain acceptance in a range of markets including foods, beverages, pharmaceuticals, groceries, and others.
Drivers & Restraints
Some of the key drivers for the growth of the global pallet boxes market includes growing demand from logistic & warehousing industry across the emerging economies like India. The warehousing and logistical structure in India within the supply chain network up until a few years ago was at its infancy stage, with minimal investments for its development, relying on simple constructions for product storage and lacking technological adequacies. Today, the scenario in this segment has vastly improved as a result of brisk manufacturing activity, increased product consumption, improved overseas trade and the emergence of coordinated retailing in the country.
Major manufacturing companies in India are moving towards utilizing services provided by growing warehousing industry, by outsourcing their requirements and services to major warehouse providers. This is positively affecting growth in demand for pallet box & containers market in India, which forms the backbone of warehousing services.
The global pallet box market is expected to witness high demand from the agriculture & allied industries, construction sector, for heavy engineering applications among others. One of the key factors which are expected to act as a restraint for the growth of the global pallet boxes market is the increasing prices of raw materials which might hamper the growth in the pallet boxes market over the forecast period.
Market Taxonomy
The global market for pallet boxes is segmented as per material type, pallet type, and end use industry.
As per material type, the global pallet boxes market is segmented as follows:
- Wooden Pallet Box
- Plastic Pallet Box
- Metal Pallet Box
- Paper Pallet Box
As per pallet type, the global pallet boxes market is segmented as follows:
- Block Pallet
- Stringer Pallet
- Customized Pallet Boxes
As per end use industry, the global pallet boxes market is segmented as follows:
- Agriculture & Allied Industries
- Building & Construction
- Chemical & Pharmaceutical
- Food & Beverages
- Engineering Products
- Textile & Handicraft
- Automotive
- Other Industries
The plastic pallet box segment is expected to drive the global market in terms of revenue whereas as per volumetric analysis, the wooden pallet boxes are projected to dominate the market. Among the pallet base used, the block pallet segment is anticipated to dominate the global market during the forecast period. One of the major factors favoring block pallet type is that owners get access to moving loaded pallets from all four sides.
Competitive Landscape
Key players operating in the global market for Pallet boxes include Brambles Limited, Schoeller Allibert Services B.V., DS Smith Plc., Myers Industries, Inc., CABKA Group GmbH., Palettes Gestion Services, PalletOne, Inc., ORBIS Corporation, Dynawest Limited, Rehrig Pacific Company, Inc., TranPak, Inc.
Key Segments Covered
By Material Type
- Wooden Pallet Box
- Plastic Pallet Box
- Metal Pallet Box
- Paper Pallet Box
By Pallet Type
- Block Pallet
- Stringer Pallet
- Customized Pallet
By End Use
- Agriculture & Allied Industries
- Building & Construction
- Chemical & Pharmaceutical
- Food & Beverages
- Engineering Products
- Textile & Handicraft
- Automotive
- Other Industries
Regional analysis is presented for following market segments:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- APEJ
- China
- India
- Australia & New Zealand
- ASEAN
- Rest of APAC
- Japan
- MEA
- GCC Countries
- Turkey
- South Africa
- North Africa
- Rest of MEA
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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