Global Pallets Market Snapshot by 2020 : PMR
On the bases of material used to produce pallets the global pallets market can be bifurcated into wood, plastics, composite wood, metals and paper. Pallets produced from wood holds the largest market share. Also, wooden pallets are expected to maintain its dominance in the forecasted period. However, plastic pallets are expected to witness highest growth in coming future. Glossary manufacturing industries are the largest end-user of pallets as they require safe and easy transportation structure to transport raw material to the production line. Other major end-users industries include food and beverage, dairy, cement, chemical, retail, automobile and others North America has the largest market share for pallets, followed by Europe and Asia-Pacific. North America is expected to maintain its dominance in the forecasted period. Europe is expected to show marginal growth. However, Asia-Pacific region is expected to witness highest growth in coming future owing to increasing domestic demand from the manufacturing companies.
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Growing demand from the end-user industry is the major driver for the global pallets market. Increasing investment in the manufacturing facilities especially in the emerging countries such as India and China is expected to increase demand for pallets in the global market. Additionally, rising demand from the automobile and packaging industry is expected to provide growth prospect for the pallets manufacturing companies in the coming future. However, infrastructure facility in some of the countries may hamper the growth of pallets market, but to a low extent.
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Rising demand for better and safe transportation infrastructure within the manufacturing area is providing opportunity for the market leader to expand their business in the emerging market. Some of the major companies operating in the global pallets market are Airdex International Incorporated, Arrington Lumber and Pallet Company, Brambles Limited, Industrial Pallet Corporation, Tasler Incorporated, PECO Pallet Incorporated and Millwood Incorporated.
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