Plastic Pallets Expected to Witness Highest Growth by 2020
01 Sep 2015
A recent report has predicted that the global pallet market will experience substantial growth by the year 2020. Conducted by Persistence Market Research, the study examined all aspects of the worldwide pallet industry, including the main types of pallet currently in use and how that may change in the coming years.
At the present time, the global pallet market is still dominated by wooden pallets. According to the findings of the Persistence Market Research Study, this is a trend which is set to continue. However, the market dominance of the wooden pallet may soon be challenged by the plastic variety. Indeed, it is plastic pallets that are widely predicted to experience the highest volume of growth as we draw nearer to the year 2020. The wider use of the plastic pallet throughout the industry should come as little surprise, as there are a number of end-user markets which lend themselves more to plastic than to wood. Industries which fall into this category include major markets such as food and beverages and chemicals.
The Main Advantages of the Plastic Pallet
Additionally, plastic pallets boast a number of distinct advantages over their wooden counterparts. One of the biggest of these advantages is the fact that they have a much longer shelf-life, with the quality of plastic deteriorating at a slower rate than that of wood. The environmentally friendly nature of plastic, with many new pallets being manufactured from recycled materials, is another major factor in their increased usage across various industries.
If being used for international shipping, wooden pallets have to be specially heat-treated prior to being utilised. However, this is not the case with the plastic variety. The time saved by using a plastic pallet instead of wood could be vital to the efficient running of many end-user businesses. The substantially more hygienic nature of plastic pallets as compared to the wooden variety makes them ideal for widespread use by the food and beverage industry. The plastic pallet variety is also resistant to chemicals and moisture in addition to being easy to clean. Once again, this makes them the perfect choice for industries where good hygiene is absolutely paramount, such as the food and pharmaceuticals markets.
A Significant Increase in the Global Demand for Pallets
According to the Persistence Market Research report, the overall demand for pallet usage will increase significantly between now and 2020. Much of this predicted growth can be attributed to large investment in manufacturing facilities located in emerging industrial nations such as China and India. Although the North American region will continue to be the largest user of pallets in the global market, it is the Asia-Pacific area which will witness the greatest growth.
The rising demand across industry for better and safer transportation methods will ensure that there are plenty of opportunities for pallet providers to increase their market share. This is particularly true for manufacturers of the plastic pallet, the use of which will increase significantly as the end of the current decade draws closer.