Press release
Pallet Market in US 2016 to grow at a CAGR of 2.2% during the period to 2020
The analysts forecast pallet market in the US to grow at a CAGR of 2.2% over the period 2015-2020.
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A pallet is a flat panel that supports goods during their transportation, designed to be lifted by forklifts and pallet jacks. The majority of pallets are made from wood, while pallets from materials such as plastic, metal, and corrugated paper are also available. The demand for pallets depends on economic drivers, such as population growth and the growth of disposable income.
“The growing preference for block pallets from large retailers is expected to account for a large share of the market by 2018. Recent announcements by large retailers about their preference for block pallets will have a significant impact on the market,”.
Covered in this report
The pallet market in the US is highly fragmented with the presence of local, regional, and international vendors. The market can be segmented into four based on the type of materials used to manufacture pallet: wood, plastic, metal, and corrugated paper.
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The report, Pallet Market in the US 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report presents the market landscape and its growth prospects in the coming years, it also covers the vendor landscape and a corresponding detailed analysis of the major vendors in the market.
Key vendors
Berry Industrial Pallets
Buckhorn
Cabka North America
CHEP
Millwood
PalletOne
PECO Pallet
Rehrig Pacific Amcor
Other prominent vendors
Conitex Sonoco
Edwards Wood Products
Enviro-Pack Material Handling
General Pallet
Greystone Logistics
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iGPS Logistics
Indoff
Kamps
LITCO International
Nelson
ORBIS
Universal Package Systems
Key market driver
Inclination towards Block Pallets
Both Costco and Walmart, two leading retailers in the US, recently announced their preference for block pallets, which has had the expected trickle-down effect on the market. This trend is aiding the growth of large pallet manufacturers such as CHEP and PECO, which only deal in block pallets, and puts small, family-owned, or independent producers who only manufacture stringer pallets at a disadvantage.
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