The Presswood Pallets Market is witnessing substantial growth as businesses increasingly embrace sustainable and cost-effective packaging solutions. Presswood pallets, also known as molded wood pallets, are manufactured from compressed wood fibers, making them lightweight, sturdy, and environmentally friendly. These pallets offer excellent load-bearing capacity, and resistance to moisture and pests, and are ISPM 15 compliant, eliminating the need for additional treatment for international shipments.
Their reusable and recyclable nature reduces waste and supports circular economy principles. As industries seek to optimize logistics and reduce carbon footprints, Presswood pallets emerge as a favored choice, driving the market’s expansion in various sectors such as logistics, manufacturing, and retail.
As per FMI, the global presswood pallets market size is expected to reach a valuation of US$ 5.4 Bn by 2032 and exhibit growth at a CAGR of 5.8% from 2022 to 2032.
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Presswood pallets, often referred to as molded wooden pallets, are created from scrap pallets, sawdust, raw wood shavings, and other materials containing wood fiber. They have a special design that allows them to support heavy loads, while still being very light.
They may also be nested or stacked, which helps to save on storage space and shipping expenses. Usually, they are created from pine trees, and wood recycling businesses or logging operations provide raw materials required for making the chips. This makes them environmentally friendly.
Increasing investments in the development of manufacturing and infrastructure facilities worldwide is expected to aid growth. Besides, surging economic activities and expansion of the e-commerce industry are likely to boost growth.
Additionally, rising demand from the packaging and automobile industries would augment growth. Enhancement of warehousing and logistics infrastructure in various parts of the globe is another vital factor that would aid growth.
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 an 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.
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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Get More Insights on Presswood Pallets Market
Future market insights, in its new report, offers an unbiased analysis of the market for presswood pallets market by product type (nestable pallet/stackable pallet and rackable pallet), size (full-size presswood pallet, half-size presswood pallet, and quarter-size presswood pallet), and end use (manufacturing & warehousing, logistics & transportation, building & construction, and others) across seven regions.
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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, 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 analyzed 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.
Global Presswood Pallets Market Outlook by Category
By Product Type:
- Nestable Pallet/Stackable Pallet
- Rackable Pallet
By Size:
- Full-size Presswood Pallet
- Half-size Presswood Pallet
- Quarter-size Presswood Pallet
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By End Use:
- Manufacturing & Warehousing
- Food & Beverages
- Chemicals
- Automotive
- Pharmaceuticals
- Others
- Logistics & Transportation
- Building & Construction
- Others
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
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