Global Plastic Pallets Market

Plastic Pallets Market Size, Share, Growth Analysis, By Material(High-Density Polyethylene, Low-Density Polyethylene), By Type(Nestable, Rackable), By Application(Food & Beverages, Chemicals) - Industry Forecast 2024-2031

Report ID: SQMIG15A2254 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 94 | Figures: 76

Plastic Pallets Market Dynamics

Drivers

Cost-effectiveness

  • Plastic pallets are often considered more cost-effective than other pallet materials, such as wood or metal. They offer a longer lifespan, require less maintenance, and are reusable, which can result in cost savings for businesses.

Restraints

Limited Load Capacity

  • Plastic pallets generally have lower load capacity compared to wooden or metal pallets. This can be a limitation for industries that transport heavy or bulky goods, as they may require more robust pallets.
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FAQs

Plastic Pallets Market size was valued at USD 7.3 Billion in 2022 and is poised to grow from USD 7.71 Billion in 2023 to USD 11.92 Billion, at a 5.6% during the forecast period (2024-2031). 

Major organizations are expanding into new markets and strengthening their market positions by implementing market strategies like expansion. For instance, ORBIS Corporation stated in October 2022 that its manufacturing facility in Urbana, Ohio, was going to be expanding. The addition will add 30% more space for the production of totes, bulk containers, plus pallets at an existing ORBIS plant at 200 Elm St. Additionally, Plastics expanded its distribution center in 2022, doubling its size from 85,000 square feet to a larger building situated on 173,000 square meters in Wilmot, United States. The expansion was carried out to boost output. 'Brambles Limited', 'Schoeller Allibert', 'Loscam', 'ORBIS Corporation', 'Craemer Group', 'CABKA Group', 'Greystone Logistics', 'Rehrig Pacific Company', 'Buckhorn Inc.', 'Plastic Pallet & Container, Inc.', 'TranPak Inc.', 'IPL Inc.', 'Material Handling Systems, Inc.', 'Litco International, Inc.', 'Premier Handling Solutions', 'Beecraft UK Ltd.', 'Cherry's Industrial Equipment Corp.', 'TranPak (Australia) Pty Ltd.', 'PalletOne, Inc.', 'PDQ Plastics, Inc.'

Plastic pallets are often considered more cost-effective than other pallet materials, such as wood or metal. They offer a longer lifespan, require less maintenance, and are reusable, which can result in cost savings for businesses.

Increasing Adoption of Automation: The plastic pallets market is witnessing a growing trend of automation in material handling processes. Automated systems, such as conveyor systems and robotic palletizers, are being integrated with plastic pallets to enhance efficiency, reduce labor costs, and streamline operations.

The North American pallet market is predicted to grow rapidly, with a CAGR of 5.2%, over the forecast period (2023-2030). This is due end-user businesses, particularly those in the domestic supply chain, are demanding more plastic pallets. Trade between the U.S., Mexico, and Canada has grown steadily over the years thanks to agreements including the United States-Mexico-Canada Agreement, or USMCA or the North American Free Trade Agreement (NAFTA).

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Global Plastic Pallets Market

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