Molded Wood Pallets Market Estimated to Record Highest CAGR by 2027
When goods or products are transported from one location to another, the pallets are numero uno in transportation. Crane, forklift, pallet jack, and other carrying vehicles use pallets to move goods from one place to another. Manufactures are looking for better quality pallets all the time, to reduce transportation cost and time and increase efficiency. Molded wooden pallets, also known as pressed wood pallets are saving manufacture’s inventory space, are lightweight and reducing transportation cost. Molded wood pallets are made of wood byproducts such as waste pallets, burned forest, raw wood, big chips, wood chips, wood shaving, saw-dust with wood chips, wood waste, damage logs and any other material containing wooden fiber. Molded wood pallets are manufactured by a machine using a steel mold.
Global Molded Wood Pallets - Market Dynamics:
Inventory space is very precious to any manufacturing firm. Better utilization of inventory floor space by manufacturing firms is increasing the demand for molded wood pallets. Molded wood pallets when nested and stacked, occupy only one-third of an area than traditional new and repaired wood pallets and others and are more lightweight thus saving inventory space. Therefore manufactures are expected to prefer small or fractional or full molded wood pallets compared to new and repaired full wood and other material pallets. It is likely that firms using molded wood pallets in place of wood pallets will better utilize their inventory space and increase pallet safety. Static strength of a pallet is defined as the amount of load a pallet can support in a warehouse floor without breaking. It is expected molded wood pallets have more static strength than traditional new and repaired wood pallets. A significant parameter in determining the quality of any pallet is the stiffness of a pallet. Stiffness or rigidity of a pallet is defined as how much the pallet deforms when a load is placed on top. It is expected that molded wood pallets are twice as stiff compared to traditional new and repaired wood pallets. All these factors are leading to increasing demand for molded wood pallets across the globe.
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Molded wood pallets are manufactured in an eco-friendly way thus is anticipated to increase the demand for molded wood pallets.
Global Molded Wood Pallets - Market Segmentation:
The global molded wood pallets market is segmented on size, end-use industry, and geography
By size, the global molded wood pallets market is segmented into
By end-use industry, the global molded wood pallets market is segmented into
Warehousing and logistics
Food & Beverages
Global Molded Wood Pallets Market - Geographical Outlook:
The global molded wood pallets market has been bifurcated into seven key regions such as North America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Middle East and Africa, Latin America and Japan.
North America is a major molded wood pallets market in global molded wood pallets market. The major markets in North America are the U.S. and Canada. West Europe and Eastern Europe are other major molded wood pallets market in global molded wood pallets market. The prominent markets in Europe are Germany, the U.K., and France. Asia Pacific excluding Japan is a significant molded wood pallets market in global molded wood pallets market. The major markets in Asia Pacific excluding Japan are China, South Korea, and India. Middle East and Africa is another significant molded wood pallets market in global molded wood pallets market. GCC (Gulf Co-operation Council) and South Africa are significant markets in the region. Latin America is a prominent molded wood pallets market in global molded wood pallets market. Brazil is the key market in the region.
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Global Molded Wood Pallets Market - Key players:
Some of the key players operating in the global molded wood pallets market are Litco International, Inc., Millwood, Inc., SDI Packaging, INKA Paletten GmbH among others.
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