Plastic pallets also known as skids are the flat structure objects, used for transporting and supporting goods when being lifted by a forklift, a front loader, a pallet jack, crane, or a jacking device. They are used for transporting the heavy goods and shipping containers while being secured by strapping, stretch wrap, shrink wrap, and others. Pallets are largely used for commercial and industrial use for lifting the heavy stacks and faster material movement. They are also available in other forms such as wooden, metal, paper, recycled material, and others. The plastic pallets are made up of high-density polyethylene (HDPE) or recycled polyethylene terephthalate (PET) material. Plastic pallets are extensively used by the logistic service providers due to their durability and stackability. The production of plastic pallets is carried out by high-pressure injection molding, structural foam molding, thermoforming, compression molding, rotational molding, and profile extrusion.
COVID-19 Scenario Analysis:
- The COVID-19 pandemic has impacted the global supply chain of the plastic pallet market as the export and import restrictions have been imposed in many countries. The use of plastic pallets has also been limited due to government restrictions on trade.
- The revenue and sales of the plastic pallets market have been affected due to the shutdown of distribution channels and transportation restrictions.
- The lockdown scenario caused a decline in the production of plastic pallets due to the shutdown of manufacturing units and shortage of manpower.
- The demand for second-hand plastic pallets is likely to reduce due to the widespread of coronavirus disease.
- The returning policy of plastic pallets has been highly affected due to the restrictions in the transportation and concerns regarding the spread of the virus through surface contact.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Plastic pallets have created a new trend in the pallet market and are mostly used for transportation of food and beverage, pharmaceutical, construction material, electronics, chemicals, electronic goods, consumer goods, aerospace, and others. The plastic pallets have undergone huge technological changes in recent times and are manufactured according to the use in various industries. The increase in use of a plastic pallet, investment in innovation, use of advanced technology and automation for manufacturing of plastic pallets, extreme durability and long-lasting, resistance to rotting and corrosion, ease of sanitization, resistance to foul odor, enhanced product protection, lightweight pallets, easy cleaning by use of chemicals, use of plastic pallets for international shipping, cost-effective shipment, reusable plastic pallets, returnable pallets, availability of second-hand pallets, and longer product life as compared to other materials are the key drivers that lead toward the growth of the global plastic pallets market. However, the collapse of plastic on heavy storage for a long time, government regulation on the use of plastic, harmful impacts of plastic on the environment due to disposing of inefficiency, difficulty in repairing, expensive plastic pallets, increase in competition in the market, and availability of substitute products hinder the market growth.
The global plastic pallets market trends are as follows:
Surge in the use of plastic pallets
Plastic pallets are manufactured in various dimensions according to their use in a suitable industry. Surge in technology and automation has made the plastic pallets more advantageous as compared to other types of pallets. The plastic pallets are considered easy to clean due to the open structure and the chemical resistant plastic material. In the food & beverage industries, plastic pallets are widely used for transportation because they protect the goods from contamination and damage while being certifies by regulatory bodies such as the FDA. Plastic pallets are widely used for exporting and importing products, airfreight shipping, shipping drums, retail stores, handling groceries, and others.
The key manufacturers are inclined toward using the advanced technology in the plastic pallets such as incorporating radio frequency identification (RFID) tags in the plastic pallets for enabling the tracking of shipment and improving the logistic system.
Key Benefits of the Report:
- This study presents the analytical depiction of the global plastic pallets industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global plastic pallets market share.
- The current market is quantitatively analyzed to highlight the global plastic pallets market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed global plastic pallets market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Plastic Pallets Market Research Report:
- What are the leading market players active in the plastic pallets market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Plastic Pallets Market Report Highlights
By Product Type
By Raw Material
By Distribution Channel
Key Market Players
Rehrig Pacific, Craemer Holding GmbH, Bekuplast GmbH, Kamps Pallets, Falkenhahn AG, Greystone Logistics, Palettes Gestion Services, Euro Pool System., ORBIS Corporation, Brambles, Schoeller Allibert, OMNIPAK S.R.O., Meridian Group D.O.O, Smart Flow Europe SA, LOSCAM