New research on Thermal Pallet Covers Market 2021 | Major Players: CargoWise Solutions Limited, QProducts & Services, Insulated Products Corporation

The thermal pallet covers market was valued at US$ 4,148.15 million in 2020 and is projected to reach US$ 10,469.73 million by 2028; it is expected to grow at a CAGR of 12.5% from 2021 to 2028.

Thermal pallet covers safeguard temperature-sensitive goods from the effects of harsh weather and decrease the risk of excursions. The heat transmission from the environment to a product can be slowed by using thermal pallet covers. The ability of the covers to reflect heat and reduce moisture content inside aids in extending the time it takes for the product mass to lose its warmth. They help maintain the ambient temperature of goods in transit and protect the temperature-sensitive products from small temperature spikes that can occur during loading and unloading, cross docking, and warehousing and packaging. Growing demand from various application segments, such as pharmaceuticals, food & beverage, and chemicals, is one of the key factors driving the growth of the thermal pallet covers market. Moreover, the rapid growth of shipping and logistics industry is projected to propel demand for thermal pallet covers in the coming years.

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CargoWise Solutions Limited, QProducts & Services, Insulated Products Corporation, Protek Cargo, ECEPLAST, PAC Worldwide Corporation, TP Solutions, ECOCOOL, Softbox, and Nordic Cold Chain Solutions are among major players operating in the thermal pallet covers market.

Market Introduction:

Based on application, the thermal pallet covers market is segmented into pharmaceutical, food & beverages, chemical, and others. The food & beverages segment led the market with the largest share in 2020. The thermal pallet covers are extremely popular in the food & beverage industry. Customers return shipments to a manufacturer if the food gets spoiled during transportation, which can cause significant loss to manufacturer. The use of thermal pallet covers helps avoid this type of loss. Packaged salads; bakery, confectionery, and dairy products; meat and seafood; and sauces, dips, and dressing items require specific handling in transit to maintain their freshness. Thus, thermal pallet covers are preferred by most food processing industries due to their benefits such as being exceptionally space-efficient, puncture-resistant, protection against cold and heat, and easy to use. As the products are well protected during transportation, the chances of damage significantly decrease, which is financially beneficial for manufacturers. With all the added benefits, thermal pallet covers can confirm to be very profitable to businesses in many food & beverage industries.

Market Dynamics:

By region, the thermal pallet covers market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. In 2020, Asia-Pacific held the largest share in the market. The market growth in the region is attributed to the increasing demand from the food packaging industries across Asia-Pacific. China is mainly dominating the regional market, followed by Japan, India, and the Rest of APAC. The key players operating in the region are TLX Cargo and Softbox SilverSkin. The key manufacturers are adopting strategies, such as research & development, technological advancement, merger & acquisition, and expansion, to develop high-quality and innovative products to meet the end users’ requirements.

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This exclusive study addresses key questions for stakeholders in the Thermal Pallet Covers Market:


What are the key developments anticipated to take place in the Thermal Pallet Covers market during the period of 2021-2028

What are the crucial strategies adopted by players operating in the Thermal Pallet Covers market

Which end-user segment will remain a key contributor to the growth of the Thermal Pallet Covers Market?

What are the important trends stimulating the growth of the Thermal Pallet Covers market

Which application segment will bode lucrative growth opportunities for the Thermal Pallet Covers Market?

Market Segmentation:

The global Thermal Pallet Covers market is segmented on the basis of component and end user. On the basis of component, the market is segmented as hardware, software, and services. On the basis of end user, the market is segmented as broadcaster and content owners..

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This release was published on openPR.