Wood Pallets Market Size, Share & Industry Analysis, By Type ( Asia standard, U.S. standard, Europe standard, Other), By Application (Logistics & Transportation, General manufacturing, Other) and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Pallets, often called as skid is a flat structure for support. It is a structural foundation that allows handling and storage and a cheaper alternative for loading and unloading components. Wooden pallets are generally made of softwood, and are inexpensive which are mostly discarded after use. Slightly costlier pallets are generally four way pallets which are coloured in certain codes according to their weight bearing capacity. They are also made with customization according to the desired application and properties.
Wood pallets are easier to manufacture and possess exceptional strength to bear load. They can be customized according to the desired application, which is likely to foster the market growth. Additionally, the wooden pallets are relatively cheaper than other alternatives like plastic or metal pallets.
Key Market Driver -
Exceptional strength and economical than other alternatives.
Key Market Restraint -
Bio-risk hazards like insect infestation.
However, the use of wooden pallets involves biohazards like bacterial growth, insect infestation and are prone to fire which is likely to hinder the market growth. Although, this can be controlled by using protective paints and coatings.
Market Segmentation:
Based on the type, the market is segmented into Asia standard, U.S. standard, Europe standard, and other. Based on applications the market is segmented into Logistics & Transportation, General manufacturing, and other.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Players Covered:
The key players operating in the Wood Pallets market are the PalletOne, United Pallet Services, CHEP, PECO, Pacific Pallet and other.
Key Insights
- New Advancements in Production Technologies
- Key Trends in the Wood Pallets market
- New Product Launches, Expansions, Key Players
- Ranking of Key Players in the Market
Regional Analysis:
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the largest market for wood pallets attributed to the high demand from China & india for import and export of consumer goods, food product and other essentials. North America is the second largest market for wood pallets owing to the large number of local manufacturers and import from other countries. European market is estimated to grow significantly, due to the considerate consumer base. The Latin America and Middle East & Africa is expected to show moderate growth by the end of forecast period.
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Segmentation
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Wood Pallets Industry Developments
- In March 2018, CHEP announced to invest US$ 240 million in the pallet repair automation technology to cope up with the damaged pallets received back from the consumers.
- In February 2015, PECO pallets provided half size (48x20) of wood block pallets for consumers in Canada. This helped to set expand its consumer base and widen its offerings.
- Ongoing
- 2023
- 2019-2022
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