Press release
Pallet Bands Market to register a healthy CAGR for the forecast period, 2018-2028
In the packaging industry, there are various packaging solutions that are developed to provide spill-proof packaging. Pallet bands form an easy-to-use, secure, and cost-economical pallet load-unitizing solution, generally used in the free movement of finished bulk products across warehouses and retail outlets. While the pallet bundling process through shrink wrapping often takes approximately one minute, an employee takes just a second to apply a rubber or silicon band to unitize a pallet load.
Pallet bands, also referred to as mover bands, can be applied or removed in seconds, and hence, save the wastage of time in packaging operations. Also, the high adoption of bulk containers for the continuous and easy movement of products among end-user industrial companies is expected to lead to a spur in the demand for pallet bands over the forecast period.
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Global Pallet Bands Market: Dynamics
A rise in concerns regarding the damage of finished bulk products during shipping and transportation across key end-use industries, such as chemicals & petrochemicals, electronic goods, construction material, food & beverages, etc., is largely expected to drive the pallet bands market over the coming decade. The market for pallet bands in the Asia Pacific region is expected to witness the most lucrative opportunities, owing to their high application in the industrial as well as retail sectors – ready packaging. Moreover, countries like India, China, Vietnam, etc., in attribution to the growing industrialization, are estimated to push the pallet bands market in this region.
The global market for pallet bands is estimated to be controlled by North America as well as some developed countries of Western Europe. This scenario is attributed to the establishment of various multi-national companies that deal in chemical, pharmaceutical, and food & beverage industries across the region. The Latin American region is expected to display an above-average growth in the pallet bands market. Middle East & African countries are projected to deliver untapped growth opportunities, thus leading to the extensive demand of pallet bands in chemical & petrochemical as well as construction allied industries, thus serving the demand for pallet bands in the regional markets.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
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