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Global Molded Wood Pallets Market was Valued at US$ XX Bn in 2019 and it is Expected to Reach More than US$ 3.4 Bn by 2028, Likely to Grow with the CAGR of 3.3% During the Forecast Period.
The Global Molded Wood Pallets Market Is Majorly Driven By The Surge In The Global Logistics Industry Coupled With A Preference For Sustainable And Compact Packaging Solutions. The Growing Adoption Of Wood Pallets In International Trade Is One Of The Prominent Factors Anticipated To Enhance Market Growth In Years To Come. Shifting Focus Of Consumers Along With Industries Towards Bio-Based Products The Global Molded Wood Pallets Market Is Estimated To Grow Significantly.
The Surge In Safety Measures Such As ISPM-15 For Wooden Pallets Is Projected To Drive The Market. The Rapid Increase In Import/Export Activities Among Countries, As Well As An Inclination Towards Recycled Products, The Demand For Molded Wood Pallets, Is Expected To Grow Substantially.
In Addition, Numerous Benefits Of Molded Wood Pallets Such As Lightweight, High Durability, Less Material Sourcing Requirement, Easy Manufacturing Process, And Others Are Further Expected To Support The Market Growth In Years To Come. However, Limited Reuse Along With Non-Reparability Are Some Major Factors Anticipated To Hinder The Market Growth.
By Product Type, Full-Size Pallets Expected To Continue Its Dominance In The Global Molded Wood Pallets Market
Full size molded wood pallets accounted for the largest share of xx% in the global molded wood pallets market in 2019. The Full Size Molded Wood Pallets Segment Had A Major Share In The Global Market In 2019 Owing To Their Large Size And Wide Use For Industrial Packaging. The Full-Size Pallets Are Also Suitable For Retail Displays Which Are Expected To Drive The Segment Growth. Wide Application Of Full-Size Pallets In Numerous Industries Such As Manufacturing, Chemicals, Automotive, Pharmaceuticals, Construction, Transportation, And Others Is Another Factor Anticipated To Drive The Segment Growth In Years To Come. Hence, The Full-Size Molded Wood Pallet Is Projected To Continue Its Dominant Position Throughout The Forecast Period.
By End-Use, Logistics & Transportation Segment Anticipated Continuing Its Dominance In The Global Molded Wood Pallets Market
By End-Use, Logistics & Transportation Accounted For The Major Share Of XX% In Global Molded Wood Pallets Market In 2019.The Logistics & Transportation Segment Dominated The Global Market In 2019 Due To The Rapid Increase In The Transportation Industry And Surge In Import/Export Activities Among Emerging Nations Such As India, China, Indonesia, Brazil, And Others. The Rapidly Growing E-Commerce Industry Is Estimated To Drive The Segment Growth. The Growing Strategies By Different Industries Market Players For Effective Distribution Are One Of The Prominent Factors Projected To Enhance The Segment Growth In Years To Come. As A Result Of The Aforementioned Factors, The Logistics & Transportation Segment Is Projected To Continue Its Dominant Position In The Global Molded Wood Pallets Market.
Growth Prospects of Molded Wood Pallets Are High In Asia Pacific
In 2018, Asia Pacific Dominated The Global Molded Wood Pallets Market Followed By North America And Europe. Asia Pacific Had The Highest Share In The Global Market Due To The Availability Of Large Warehouses And A Surge In Manufacturing Facilities In The Region. Moreover, Growing Trade Activities By Emerging Nations Such As China, India, Indonesia, And Others Coupled With The Availability Of Resources Is Anticipated To Drive The Regional Growth. The Availability Of Low-Cost Workforce And Growing E-Commerce Industry In The Region Are Some Prominent Factors Projected To Drive Regional Growth In Years To Come. Therefore, Asia Pacific Is Estimated To Continue Its Dominance.
Key Tier 1 Players In The Molded Wood Pallets Market Include INKA Paletten Gmbh. And Litco International Inc. Global Molded Wood Pallets Market Is Highly Fragmented Owing To The Presence Of A Regional As Well As Global Players. Other Players In The Market Are Snyder Industries, Inc., Beacon Industries Ltd., The Nelson Company, Custom Equipment Company, Inc., Beacon Industries Ltd., SDI Packaging, Engelvin Bois Moule S.A., Nefab Group, Presswood International BV, Millwood, Inc., And ENNO Marketing Pte. Ltd. Acquisitions, New Product Launch, Collaborations, Partnerships, And Mergers Are Some Of The Major Strategies Projected To Follow By The Aforementioned Market Players.
Molded Wood Pallets Market Segmentation:
Molded Wood Pallets Market By Product Type:
- Nestable Pallet
- Stackable Pallet
- Rackable Pallet
Molded Wood Pallets Market By Size:
- Quarter Pallet
- Half Pallet
- Full-Size Pallet
Molded Wood Pallets Market By End-Use:
- Food & Beverages
- Chemical Industry
- Automotive Industry
- Pharmaceutical Industry
- Other Manufacturing
- Logistics & Transportation
- Building & Construction
Molded Wood Pallets Market By Region:
- North America
- Latin America
- Asia Pacific
- Middle East And Africa