The global sales of foldable plastic pallet boxes are estimated to be worth USD 2.3 billion in 2021 and are anticipated to reach a value of USD 3.4 billion by 2031. Sales are projected to rise at a CAGR of 3.9% over the forecast period between 2021 and 2031. The revenue generated by foldable plastic pallet boxes in 2020 was USD 2.2 billion.
Increasing demand due to the need for effective, space-saving storing mechanisms across logistics, retail, and manufacturing is driving growth in the foldable plastic pallet boxes market. Besides this, the sustainability trend through the reduction of single-use plastics boosts growth in recycling and reusing plastic pallets.
Technological advances within plastic molding and design further improve durability and functionality of these boxes to appeal to businesses. Further, growth in e-commerce and international trade even results in increased demand for safe and collapsible packaging.
Besides, regional expansion and supply chain optimization increase demand for reefer containers, hence driving growth in the market. Companies are also focusing on innovations that improve load capacity and facilitate ease of handling.
Global Foldable Plastic Pallet Boxes Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 2.2 billion |
| Estimated Size, 2021 | USD 2.3 billion |
| Projected Size, 2031 | USD 3.4 billion |
| Value-based CAGR (2021 to 2031) | 3.9% |
Pallets are important part of any supply chain. They are used widely across many industries to ship goods not only across countries, but internationally. Shipping pallets are essential to move large amounts of stock between hubs effectively. They’re also an important part of warehouse storage systems, allowing goods to remain on pallets between being used or shipped. Foldable plastic pallets are designed for front loaders such as forklifts and jacks.
Plastic pallets are safer for handling and shipping goods. Foldable plastic pallets collapsed when not in use and offers excellent space and fuel saving, particularly on return on journey transport.
These are suitable for many industries that transfer or ship products which need to be unloaded quickly. Foldable plastic pallets are more hygienic than wooden pallets and also provide flexibility. Plastic pallets are produced to specification and are compatible with modern automated operations systems that rely on consistent shape, size and weight to function correctly.
Plastic pallets can handle variable temperature conditions. Foldable plastic pallets are 20-30 kg lighter than other pallets which reduces shipping cost associated with overall weight. They can be loaded to a higher maximum capacity, getting better value for money per pallet shipment. Their resistance to breakages also means they provide less risk of injury to manual handling workers
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Several emerging trends are expected to gain momentum within the global foldable pallet container market over the next few years, impacting market growth.
Loading and unloading for transport is the major driving factor which is expected to have positive impact on the foldable pallet container market during the forecast period. These pallets are 3 times expensive compared to the traditional one is the drawback. But has its benefits like durability, recyclable and reusable
Moreover, manufacturers and retailers are preferring foldable pallet containers with respect to non-foldable pallet containers due to less space requirements. There are enormous efficiencies in transportation of goods and services such benefits over traditional non foldable pallets boxes can drive the market growth. Based on past experience the technical characteristic of foldable plastic pallets boxes has scope of improvement.
Increasing demand for pallets has led to recent advancements in the pallet market. Eco-OZ Crates have curved edges and removable vent covers which allow good air circulation even in 40° heat is the crucial factor for keeping products fresh during transport across the country.
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About 90% of pallets are made up of wood and rests are made up of plastic, metal or cardboard. The price of wooden pallets has been increased because of increase in wood price. Such factors might seem like an opportunity for plastic pallets.
The increasing demand for the logistics and shipping along with export and import of goods in USA is expected to drive the growth of market during forecast period.
Increase in export and import of goods along with E-commerce industry is expected to drive the market during forecast period. Europe accounts 15% share of plastic pallets market in 2018. Rackable plastic pallets have 35% of share in pallet market.
ORBIS GmbH designed GitterPak, the folding pallet box used in automotive and industrial applications which holds up to 900kg.
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Some of the leading manufacturers and suppliers of Foldable Plastic Pallet Boxes include
Ozcrate plastic pallet boxes by Materials Handling Pty Ltd are great storage solutions which can easily collapsed when not in use. They can be stacked with interlocking feet and fold-down sides, stored and easily transported to increase user and operating efficiency and helps to reduce handling time.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Foldable Plastic Pallet Boxes Market
