The pallet pooling (rental) market will likely witness robust growth during the assessment period of 2017-2027, to register a high CAGR of 6.6%. It is estimated to be valued at about US$ 1.4 Bn by the end of 2027.
Albany, NY -- (SBWIRE) -- 09/21/2017 -- Market Research Reports Search Engine (MRRSE) has recently added a new weighted research study - "Pallet Pooling (Rental) Market: Global Industry Analysis and Opportunity Assessment, 2017-2027". This research report covers all the major angles in the market that gives a holistic view of the market to the reader. Several trends, opportunities, drivers, challenges and restraints are analyzed with a thorough market understanding. An in-depth market segmentation covers all major segments that are analyzed across important geographies of North America, Western Europe, Eastern Europe, Japan, Asia Pacific excluding Japan (APEJ) and Middle East and Africa (MEA).
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Global Pallet Pooling (Rental) Market: Forecast
According to this market research report, the pallet pooling (rental) market will likely witness robust growth during the assessment period of 2017-2027, to register a high CAGR of 6.6%. It is estimated to be valued at about US$ 1.4 Bn by the end of 2027.
Global Pallet Pooling (Rental) Market: Dynamics
The global pallet pooling (rental) market is ruled by strict governmental regulations with respect to hygiene in the pharmaceutical sector along with a convenient rental system. The demand for durable pallets has been increasing since past few years, which has a positive impact on the growth of the global pallet pooling (rental) market. There is no need for huge capital as pallets are used on a regular basis. These factors have pushed the growth of the global pallet pooling (rental) market during the forecast period. Moreover, regular repairs and maintenance of pallets along with quality checking helps reduce product damage, which supports the global pallet pooling (rental) market development. A main restraint to the global pallet pooling (rental) market is the changing environment conditions. In cold conditions, plastic pallets become brittle; whereas in hot climate, they turn soft and hence are not much of a preferred choice for export operations.
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Global Pallet Pooling (Rental) Market: Highlights
The global pallet pooling (rental) market is segmented on the basis of material type (HDPE, polypropylene and advanced composite material), on the basis of product type (stackable, nestable and rackable), by end use (food and beverage, FMCG, pharmaceuticals, chemicals and petrochemicals, and electronics) and by region.
- Plastic pallets are likely to witness longer life (more than 10 years) and strength as compared to wooden pallets and are easy to maintain
- Several end-use industries like FMCG and food and beverages choose plastic pallets due to their high durability
- Plastic pallets display high resistance to chemicals due to which they can be reused and are much more reliable than wooden pallets
- Plastic pallets do not allow dirt accumulation owing to their smooth surface and are easy to clean
- Nestable pallets segment by product type is likely to lead the global market during the period of assessment 2017-2027. They are considered as a better option for shop floors
- Stackable pallets are widely used for in-house transportation activities, and are expensive as compared to nestable pallets
- Rackable pallets reflect high strength and quality and are used in several end-use industries
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