Navigating Growth: Dunnage Tray Market Aims for $2.6 Billion Valuation by 2029 with 4.3% CAGR

The global dunnage tray market is on a trajectory to achieve a valuation of US$ 2.6 billion by 2029, with a projected Compound Annual Growth Rate (CAGR) of 4.3% spanning between 2022 and 2029. This trend is propelled by substantial demand for dunnage trays, notably within the automotive sector where they are employed for processing automotive parts on factory floors.

The automotive manufacturing process involves robots retrieving components from these trays and feeding them directly into assembly lines. Reusable dunnage trays, which are now available and entirely recyclable, offer a capital investment option due to their longevity and sustainability.

The dynamics of the dunnage trays market are analyzed by Future Market Insights, considering a range of industry factors. The market faces certain influences, including the increasing availability of substitutes such as foam inserts that could hinder its growth. Notably, the introduction of reusable and recyclable dunnage trays stands as a recent advancement in the market.

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Comparing H1-2022 and H1-2021, the dunnage trays market is projected to surge by 20 basis share points (BPS) according to an FMI analysis. Moreover, when contrasting the projected H1-2022 performance with the outlook for the same period, a rise of 10 BPS changes has been identified. This shift can be attributed to dunnage trays' ability to limit damage by absorbing shocks, ensuring moisture resistance, and safeguarding goods during transportation.

Despite the potential challenges, the increasing integration of robotic technology in manufacturing, particularly within the automotive sector, has fueled the demand for customized dunnage trays. This aligns with their ability to optimize transportation and protect goods, further bolstering their market growth.

Key Takeaways of Dunnage Trays Market Study

Dunnage trays market has been witnessing significant growth in demand for custom-designed dunnage trays, with cavities that can be shipped and unloaded at the assembly line.
Automotive industry remains the prominent end-use industry, followed by healthcare & pharmaceuticals, in global dunnage trays market.
Polypropylene (PP) continues to be preferred over the high-density polyethene (HDPE) among manufacturers of dunnage trays. This is attributable to industry experts declaring polypropylene as a tough and robust material with suitable properties such as good heat & puncture resistance and strength for manufacturing dunnage trays.

Increasing implementation of robotic technology in manufacturing, especially in the automotive industry has been a driving force for sales of customized dunnage trays, as assembly line are replaced by robots. The thriving electric vehicle (EV) market is anticipated to contribute substantially to the growth of the dunnage trays market in the foreseeable future.

Players in the Dunnage Trays Market Focus on Product Durability and Reusability

The primary role of a dunnage tray is to safeguard the cargo during the transit, and this packaging solution can withstand external factors such as heat (especially during the manufacturing process), giving confidence to end-users, and increasing its use in extreme climatic conditions. Dunnage trays can last for many years, ultimately saving costs by reducing the need for frequent repurchases.

Thus manufacturers in the dunnage trays market focus on use of sustainable materials, which are hygienic and easy to clean, with an aim to improve their product sales. Prominent manufacturers in the dunnage tray are using High-density Polyethylene (HDPE), as this easily recyclable material helps to protect stored parts against electrostatic discharge from charged surfaces and grounded items nearby, which could lead to undesired accidents or loss of sensitive electronic devices and sensors.

Key Segments Covered in Dunnage Tray Industry Research

Material Type:

Polypropylene (PP)
Polyvinyl chloride (PVC)
Thermoplastic polyurethanes (TPU)
Acrylonitrile butadiene styrene (ABS)
High-density polyethylene (HDPE)

End-use:

Electrical & Electronics
Healthcare & Pharmaceuticals
Automobile
Food & Beverage
Agriculture
Shipping & Logistics
Manufacturing & Warehousing

Know More About Dunnage Trays Market Report

Future Market Insights, in its new offering, offers an unbiased analysis of the global dunnage trays market, analysing historical demand from 2014-2021 and forecast statistics for 2022-2029.

The study unravels growth projections on the dunnage trays market on the basis of material type (Polypropylene (PP), Polyvinyl Chloride (PVC), Thermoplastic polyurethanes (TPU), Acrylonitrile butadiene styrene (ABS), High density polyethylene(HDPE), end-use industry (electrical & electronics, health care & pharmaceuticals, automobile, food & beverages, agriculture, shipping & logistics, manufacturing & warehousing), across seven major regions.

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Key Segments Covered in Dunnage Tray Industry Research

Material Type:

Polypropylene (PP)
Polyvinyl chloride (PVC)
Thermoplastic polyurethanes (TPU)
Acrylonitrile butadiene styrene (ABS)
High-density polyethylene (HDPE)

End-use:

Electrical & Electronics
Healthcare & Pharmaceuticals
Automobile
Food & Beverage
Agriculture
Shipping & Logistics
Manufacturing & Warehousing

Region:

North America
Latin America 
Europe
East Asia 
South Asia 
Oceania 
Middle East & Africa (MEA) 

Frequently Asked Questions

-How much is the Dunnage Tray market currently worth?
-What is the sales forecast for Dunnage Tray through 2029?
-What was the last 7-year market CAGR for the sales of Dunnage Tray?
-Who are the key manufacturing companies for Dunnage Tray?
-What's with "North America"?

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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

This release was published on openPR.