Pallets are flat, portable platforms used for the efficient handling, storage, and transportation of goods. They serve as a foundational structure for the safe and organized movement of various products across supply chains. Pallets are integral to the logistics and material handling industries, providing a standardized and versatile means of handling goods.
The surge in industrialization and manufacturing activities across Asia, buoyed by supportive government regulations, is poised to drive robust sales growth in the near future.
Asia Pallets Market is expected to experience substantial growth at a CAGR of 5.8% during the forecast period. The market value is projected to rise from US$ 18,285.1 million in 2023 to US$ 32,179.0 million by 2033. By the end of 2022, the market was valued at US$ 17,187.3 million, and it is anticipated to demonstrate a year-on-year growth of 6.4% in 2023.
It is hence leading to increasing demand for pallets as an important part of an efficient supply chain. Pallets play an important role in streamlining logistics operations, making it easy to handle, as well as store & transport goods in a standardized and storable manner.
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Key aspects of pallets:
- Materials:
- Wooden Pallets: Traditional pallets are often made of wood, offering durability, strength, and a cost-effective solution. Hardwood and softwood varieties are commonly used.
- Plastic Pallets: Plastic pallets are known for their lightweight construction, resistance to moisture, and durability. They are suitable for industries with strict hygiene requirements.
- Metal Pallets: Metal pallets, typically made of aluminum or steel, are known for their strength and durability. They are often used in industries with specific load-bearing and durability requirements.
- Cardboard Pallets: Lightweight and eco-friendly, cardboard pallets are used for specific applications, especially in industries where a single-use, disposable solution is preferred.
- Types of Pallets:
- Block Pallets: These pallets have both deck boards and stringers made from solid wood blocks. They offer stability and are often used for heavy loads.
- Stringer Pallets: Stringer pallets have solid wood stringers supporting the deck boards. They are commonly used in one-way shipping systems.
- Double-Face Pallets: These pallets have deck boards on both the top and bottom, making them reversible and extending their lifespan.
- Double-Wing Pallets: Double-wing pallets have deck boards extending beyond the edges of the stringers on both sides, providing additional surface area for supporting the load.
- Pallet Sizes:
- Standard Sizes: Pallets are available in standard sizes, with the most common dimensions being 48 inches by 40 inches in North America and 1,200 mm by 800 mm in Europe. However, various other sizes are used globally based on industry requirements.
- Custom Sizes: Some industries or applications may require custom pallet sizes to suit specific products or transportation systems.
Market Demand
Increasing manufacturing activity might raise the need for low-cost storage and transportation solutions. It is anticipated to lead to a significant increase in the demand for pallets.
The growth of the Asia pallets industry is driven by the rapid expansion of the manufacturing and warehousing sectors in the region. Asia has emerged as a manufacturing powerhouse with China, India, and countries in Southeast Asia becoming global manufacturing hubs.
Pallets provide an inexpensive and standardized way to organize and transport goods in manufacturing and warehouse facilities. It enables easy movement of products, improves inventory management, and optimizes the use of warehouse space.
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Key Players Are:
- Mabuchi Thailand Co Ltd.
- Nefab Group
- Nilkamal Limited
- Brambles Limited
- Enno Marketing Services PTE Ltd
- Long Thanh Plastic Co., Ltd.
- Penno Packtech Co., Ltd
- Mapac Technology
- Atlanta Global
- Aristoplast Products Pvt. Ltd
- Pesonex
- Hanoi Sin Timber Industry Sdn Bhd.
- Linyi Kunpeng Wood Co., Ltd
- Vishakha Mouldings Private Limited
- Others
Competitive Landscape:
Asia-based pallet manufacturers are diversifying their product lines by creating a variety of pallet kinds & sizes to satisfy the various demands of sectors and supply chains. This covers common pallets, ones made to order, those that are lightweight, and those that are tailored for certain uses.
Pallet businesses are also implementing environmentally friendly procedures as the importance of environmental sustainability grows. In order to create pallets, sustainable resources such as recycled wood or plastic are used. To reduce their ecological footprint, they are also putting recycling and trash reduction strategies into place.
For instance,
- Loscam Holdings Limited and CHEP China will combine their pallet and automobile pooling businesses, according to a collaboration deal announced by Brambles Limited in November 2022. As per this deal, Loscam (Greater China) Co., Limited, the Greater China division of Loscam Group, will own 80% of the newly created firm, with 20% owned by Brambles.
Market Segmentation:
By Material:
- Wood
- Plastic
- Metal
- Paper
- Press Wood
By Product:
- Stringer Pallet
- Block Pallet
- Customized Pallet
By Pallet Size:
- 0.8 Meter X 1.2 Meter
- 1 Meter X 1.2 Meter
- 1 Meter X 1 Meter
- 1.1 Meter X 1.1 Meter
By Medium of Recycling:
- Pallet Processing Companies
- Recycling Service Facilities
By End-use:
- Manufacturing & Warehousing
- Food & Beverages
- Chemicals
- Automotive
- Healthcare
- Logistics & Transportation
- Building & Construction
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