The global packaging industry has, for a long time, looked for solutions that can replace traditional wooden pallets. This necessity, coupled with the industry-wide push toward sustainability, is increasing the prominence of the Pallet Slip Sheet Market in the manufacturing world, taking its valuation to a staggering USD 1,020.30 million in 2024.
With the boom of eCommerce in developing and underdeveloped countries, these numbers are determined to see a substantial surge and surpass USD 1,398.1 million by 2034, growing at a sluggish CAGR of 3.20%.
Attributes | Details |
---|---|
Market Value for 2024 | USD 1,020.3 million |
Projected Market Value for 2034 | USD 1,398.1 million |
Value-based CAGR of the Market for 2024 to 2034 | 3.20% |
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These slip sheets are made from various materials, such as corrugated fiberboard, plastic, paperboard, and composite materials. Among these, the corrugated fiberboard segment is marked to hold a substantial market share of 72.30% in 2024.
Attributes | Details |
---|---|
Material | Corrugated Fibreboard |
Market Share (2024) | 72.30% |
The coating plays an important factor in choosing the right slip sheets for the industries. These days, slip sheets come in coated and uncoated forms. The former is anticipated to hold a dominant 67.20% share of the market in 2024.
Attributes | Details |
---|---|
Coating type | Coated |
Market Share (2024) | 67.20% |
The manufacturing world has experienced huge transitions in Asian countries, as compared to other parts of the world. With governments promoting indigenous manufacturing and with the advent of multinational companies in countries like India and Thailand, the market for these slip sheets is invoked to have a promising future in the coming ten years.
Countries | CAGR (2024 to 2034) |
---|---|
India | 6.70% |
China | 5.90% |
Thailand | 5.50% |
Spain | 3.50% |
Japan | 2.60% |
The pallet slip sheet market in India is slated to grow at a CAGR of 6.70% for the forecasted period of 2024 to 2034.
The COVID-19 pandemic, in the recent past, proved to be a watershed moment for India’s pharmaceutical and healthcare sector. Pallet slip sheets, which have become an extensive part of packaging in these industries, help manufacturers maintain high standards of hygiene. Indian healthcare facilities are also generating huge demand for these sheets as they offer a cost-effective alternative to traditional pallets.
China is a lucrative country in the market. The pallet slip sheet market in this country is pegged to grow at a CAGR of 5.90%.
China has been one of the largest manufacturers of chemicals and plant-based products in the world, thanks to their enormous population needs and heavy reliance on processing the country’s agricultural produce.
These industries, on the shop floor during the final packaging and stacking, extensively make use of pallet slip sheets for better load stability, protection of goods, and efficient handling. This has positioned China as one of the most profitable markets for these sheets in the Asian continent.
The Thailand pallet slip sheet market is a promising one. It is slated to grow at a CAGR of 5.50% through 2034.
A substantial part of Thailand’s GDP comes from its tourism sector. Each year millions of tourists flock to the nation to take a break from their busy lifestyles. This has significantly benefitted the market for pallet slip sheets in Thailand.
The sheets are often used in the transportation of essential items, such as food and beverage items for Thai hotels and restaurants. They are also used in the supply of linens, toiletries, and cleaning supplies to the hotels situated at the prime hotspots of the country.
The Spain pallet slip sheet market is also very likely to flourish in the coming years. It is slated to grow at a CAGR of 3.50% through 2034.
Spain’s geolocation and proximity to the Mediterranean countries have made it one of the emerging markets for processed fruit and vegetables not just in Europe, but in the entire world. These industries also use these sheets for various purposes.
Fruit processing industries mainly use the sheets as they provide a protective layer between the pallet and the harvested fruits. This reduces the risk of bruising, crushing, or damage during handling and transportation.
The future of Japan’s pallet slip sheet market looks bright. The market is slated to grow at a CAGR of 2.60% through 2034.
Japan is one of the largest exporters of electronic goods, thanks to its technological advancements in this sector from the beginning of the twenty-first century. These exports require huge amounts of slip sheets to facilitate the safe and efficient transportation of electronic components and devices.
The market is a mature one with the presence of a multitude of companies vying for dominance in the international marketplace. These companies are pouring billions of dollars into curating eco-friendly and sustainable slip sheets to cater to the demands of eco-conscious consumers and businesses.
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The market is expected to be worth USD 1,020.3 million in 2024.
The market value is expected to reach USD 1,398.1 million by 2034.
The pallet slip sheet industry is expected to develop at a CAGR of 3.20% from 2024 to 2034.
Fresh-Pak Corp, MEIJER HANDLING SOLUTIONS B.V., Industrial Packaging Corporation, Smurfit Kappa Group, Marvatex Inc., ENDUPACK-SAS, REPSCO Inc., etc., are some of the major players in the market.
The valuation for the market in 2023 was USD 982.9 million.
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