The latest advances and business opportunities in the molded wood pallet market 2031

Molded wooden pallets are 35% lighter than traditional hardwood pallets and are durable enough to be reused, giving them a priority over other molded wooden pallets.

According to a new study by Future Market Insights (FMI), sales of molded wooden pallets increased at a CAGR of 5.8% between 2021 and 2031, with an overall valuation of US $ 4.5 billion by the end of the valuation period. Can exceed.

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Litco International Inc. , Millwood Inc , Snyder Industries, Inc, Nefab Group and others are major players in the global molded wood pallet market. Tier 3 players on the market account for 70-80% of the global molded wooden pallet market. In conclusion, major players account for almost 20-30% of global demand.

These pallets are made by molding wood waste, wood by-products and damaged logs, reducing manufacturing costs. It also requires less energy than manufacturing other types of pallets. These factors are expected to increase the demand for molded wooden pallets.

Global demand for molded wooden pallets is expected to increase due to the growth of sustainable and cost-effective products. Wood chips, particles, and other residues in the molding process increase the strength of the pallet. It has no screws or cutting edges, making it suitable for all types of products.

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Molded wood pallet market by category
By product type:
Nestable / Stackable
Rackable pallet

By size:
Quarter size palette
Half size palette
Full size palette

End use:
manufacture
Food and beverages
chemicals
car
Pharmaceuticals
others

Impact of COVID-19 on the molded wood pallet market
The COVID-19 pandemic is affecting a variety of business environments. Social distance and workplace closures continue to adapt to current challenges and create new challenges in the business world that works in post-Covid situations. Molded wooden pallets play an important support in the smooth operation of the supply chain .

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Important points from the molded wood pallet market
The demand for nested / stackable pallets in the packaging industry has increased exponentially over the past few years. This growth may be due to an increase in oversight shipments. This segment is expected to create an incremental opportunity of US $ 1,084.5Mn over the next decade.
Full-size molded wooden pallets are attracting attention among end users. This segment is projected to increase its current market share by 240 bps to reach up to 76.3% in 2031.
Increased logistics and transportation are driving demand in the packaging industry. This segment is projected to grow 1.9 times its current market share during the forecast period.
Due to the presence of leading companies and the availability of technologically advanced and innovative packaging solutions, consumption of molded wooden pallets is expected to remain high in European and North American countries across the global market. ..

Mr. Debashish Roy
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
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Website: https://www.futuremarketinsights.com

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in more than 150 countries. FMI is headquartered in Dubai, the world's financial capital, with distribution centers in the United States and India. The latest of FMI market research reports and industry analysis is , companies overcome the challenges in the fierce competition, will help to make clear the important decisions with confidence. Customized and syndicated market research reports provide actionable insights to drive sustainable growth. A team of FMI expert-led analysts keeps track of new trends and events in a wide range of industries, ensuring clients meet the evolving needs of consumers.

This release was published on openPR.