They are lightweight and have round edge designs. Thus, they are considered to be feasible for cargo safety. Presswood pallets are also environmentally friendly and hence are extensively used in various industries
NEWARK, Del: According to FMI, the presswood pallets market is anticipated to develop at a CAGR of 5.8% from 2022 to 2032, reaching a value of US$ 5.4 billion.
Pallet waste, sawdust, raw wood shavings, and other materials containing wood fibre are used to make presswood pallets, also known as moulded wooden pallets. They feature a unique design that makes them strong while maintaining their low weight.
Also, they can be nested or stacked, which reduces the need for storage space and shipping costs. They are often made from pine trees, and logging or wood recycling companies supply the raw materials needed to make the chips. Because of this, they are environmentally friendly.
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Growth is anticipated to be aided by rising investments in the construction of manufacturing and infrastructural facilities worldwide. Also, the rise of the e-commerce sector and booming economic activity are likely to promote growth.
The packaging and automotive industries’ increased demand would also boost GDP. Another important issue that would promote growth is the improvement of the storage and logistics infrastructure around the world.
Key Takeaways: Presswood Pallets Market
- The global presswood pallets market size was valued at US$ 2.9 Bn in 2021.
- By product type, the nestable/stackable pallets segment is anticipated to create an incremental opportunity of US$ 1.5 Bn during the forecast period of 2022-2032.
- By end use, the manufacturing & warehousing segment is projected to reach a valuation of US$ 2.2 Mn during the forecast period (2022-2032).
- The India presswood pallets market is projected to create an incremental opportunity of US$ 167 Mn during the forecast period.
- The U.S. presswood pallets market is expected to exhibit a CAGR of 5.3% from 2022 to 2032.
“Ongoing development of smart technologies by manufacturers to innovate their existing pallets with features like RFID tags is anticipated to drive growth,” says a FMI analyst.
Increasing Use of Presswood Pallets in the Logistics Sector to Aid Growth
Expansion of the logistics sector is likely to boost demand for presswood pallets in the next decade. Pallets are a vital logistical tool used in packing and are primarily utilized as load carriers.
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They are useful in logistics as they make stacking, storing, assembling, or transportation of products over long distances simpler than other types of products. They can also increase the efficiency of warehouse operation by allowing for the simple transfer of stacked goods by using equipment or machines.
Competitive Landscape: Presswood Pallets Market
Some of the leading players in the global presswood pallets market include Millwood, Inc., Litco International, Inc., Inka Paletten GmbH, Associated Pallets Ltd., Acorn Packaging Services Ltd., SDI Packaging, Craemer GmbH Krones Group, Loscam Australia Pvt Ltd, Linyi Kunpeng Wood Co, JP Pallets, Taik Sin Timber Industry Sdn Bhd, Plastochem India Pvt. Ltd., Schoeller allibert services, Hangzhou Penno Packtech Co., Ltd., Enviva, Universal Forest Products, Palcon LLC, The Nelson Company, Rowlinsons Packaging Ltd, and Bay Wood Products, Inc. among others.
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Global Presswood Pallets Market Outlook by Category
By Product Type:
- Nestable Pallet/Stackable Pallet
- Rackable Pallet
- Full-size Presswood Pallet
- Half-size Presswood Pallet
- Quarter-size Presswood Pallet
By End Use:
- Manufacturing & Warehousing
- Food & Beverages
- Logistics & Transportation
- Building & Construction
- North America
- Latin America
- Middle East and Africa
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Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
- Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
Click Here for Presswood Pallets Market 258 pages TOC Report
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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