Global Pallet Box Market - 2021-2028
|出版日期||內容資訊||英文 180 Pages
|托板箱的全球市場(2021年∼2028年) Global Pallet Box Market - 2021-2028|
|出版日期: 2021年07月30日||內容資訊: 英文 180 Pages||
Pallet Box Market Overview
The global pallet box market size was worth US$ XX million in 2020 and is estimated to reach USD XX million by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
A Pallet box is a type of container attached with a pallet base for easy lift & transportation. It has a wide range of applications such as storage, shipping, and distribution of heavy and bulky loads.
A pallet box plays a vital support role in safely transporting many kinds of goods. It is more like a glue that ties retailers, distributors, manufacturing companies, growers, transportation and logistics service providers across several industries. Without pallets, businesses could not transport goods, stock products and keep their investments free of damage.
The pallet box market is categorized into wood, plastic, metal, composite, composite and paper based on material. The wood pallet is ubiquitous and dominates the market. According to recent industrial analysis and study, there is more than 2 billion pallets are in circulation, carrying more than $400 billion worth of American exports in which solid wood pallets are used by 93% of the 274 respondents.
Pallet Box Market Dynamics
Pallets as a service is expected to drive the pallet box market
"X as a service" has been a big trend, from Software as a Service (SaaS) to ride-sharing apps such as Uber that offer transportation on demand. Similarly, pallet as a service is gaining demand. For instance, companies such as ORBIS Corporation, 48forty Solutions, iGPS, Bettaway Transportation Logistics and Pallet Systems offer pallet management services that can be considered "pallets as a service."
Over the years, shippers have transitioned from general pallet acquisition and retrieval to looking for resources to handle pallets as an integral part of the supply chain. Purchasing pallets outright leasing and pool programs and managing them in-house remains a common practice. An increasing number of shippers outsource some or all of their pallet operations to a third-party provider.
For instance, Kyle Otting, CEO of Atlanta-based 48forty Solutions, a pallet management company, stated that supply chains evolved into more complex networks. The efficient management of pallet programs has become impactful.
Increasing prices of pallet boxes are expected to hinder the market
Recently, there is a surge in the price of pallets because of several reasons such as increasing demand, competition for raw materials and lack of pallet availability. For instance, according to United Fresh Production Association, there is a 400% rise in the price of pallet boxes.
Moreover, pallets may be circulating in the channel but not at the right place and the right time, resulting in improper management and lack of pallet boxes availability.
Pallet Box Market Segment Analysis
Based on material, the pallet box market is categorized into wood, plastic, metal, composite and paper.
A plastic pallet box is expected to dominate the market owing to the increasing demand of reusable and sustainable material handling options
A plastic pallet box is expected to dominate the market owing to the increasing demand for reusable and sustainable material handling options.
A plastic pallet box is more rugged and lighter than traditional wood pallets and is water repellent, exportable, resistant to fire, and 100% recyclable. In addition, it tends to cause fewer warehouse handling injuries because of free of rusty nails or screws. While a broken wood pallet will likely need to be taken to the dump, plastic pallets can often be repaired or re-molded.
Moreover, plastic pallet from Reusable Transport Packaging also offers bar-coding and tracking capabilities using RFID, which allows manufacturers and shippers to track anywhere in the supply chain. For instance, iGPS Logistics, a U.S-based company, has RFID tags embedded within its pallet box. The tags provide track-and-trace capabilities, so shippers can monitor shipment movement and gain real-time information on environmental changes, as well as notice of suspicious activity.
Pallet Box Market Geographical Analysis
Based on the geography, the pallet box market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa.
In North America, the particular U.S. in the region is the major market for pallet boxes due to the expansion of warehousing, logistics, and transport industries in the region, with greater international trade volumes and support demand. For instance, according to the National Wood Pallet & Container Association, more than 1.8 billion pallets are in service in the U.S. each day, 93 percent of them made from wood.
In addition, high volumes of heavy cargo and products are transported long distances throughout the United States via rail network. For instance, as per the International Trade Administration (ITA), U.S., a 40,000-mile system delivers around 5 million tons of goods each day. It serves nearly every industrial, wholesale, retail, and resource-based sector of the economy.
Moreover, the major companies are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the growth of the pallet in the region. For instance, Paxxal Inc., rolled out its new North American Pallet to the U.S. market. The Pallet is made from 100% recyclable patented composite material with impressive impact durability and resistance properties using a unique, automated rotational molding process that enables cost-efficient mass production.
Moreover, In December 2020, UFP Industries acquired 100 percent equity of PalletOne, Inc. for approximately $232 million. PalletOne is a Florida, U.S based manufacturing company of automated pallet boxes.
Pallet Box Market Competitive Landscape
The pallet box market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include ORBIS Corporation, 48forty Solutions, iGPS, Bettaway Transportation Logistics, Pallet Systems, Paxxal Inc., UFP Industries, DS Smith, CABKA Group, PGS GROUP among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the pallet box market globally.
Overview: DS Smith is a European packaging company of customer-specific packaging, emphasizing state-of-the-art packaging design and local service close to customer facilities.
Product Portfolio: DS Smith manufactures heavy-duty cardboard pallet boxes which are suitable for weights of up to 1000 kgs and above. They come with double stacking for worldwide shipment. The Pallet Boxes can also be produced and printed as per the specific requirements.
The global pallet box market report would provide an access to an approx. 77 market data table, 76 figures and 238 pages.
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