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Pallets, often called as skid is a flat structure for support. It is a structural foundation that allows handling and storage and a cheaper alternative for loading and unloading components. Wooden pallets are generally made of softwood, and are inexpensive which are mostly discarded after use. Slightly costlier pallets are generally four way pallets which are coloured in certain codes according to their weight bearing capacity. They are also made with customization according to the desired application and properties.
Wood pallets are easier to manufacture and possess exceptional strength to bear load. They can be customized according to the desired application, which is likely to foster the market growth. Additionally, the wooden pallets are relatively cheaper than other alternatives like plastic or metal pallets.
Key Market Driver -
Exceptional strength and economical than other alternatives.
Key Market Restraint -
Bio-risk hazards like insect infestation.
However, the use of wooden pallets involves biohazards like bacterial growth, insect infestation and are prone to fire which is likely to hinder the market growth. Although, this can be controlled by using protective paints and coatings.
Based on the type, the market is segmented into Asia standard, U.S. standard, Europe standard, and other. Based on applications the market is segmented into Logistics & Transportation, General manufacturing, and other.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The key players operating in the Wood Pallets market are the PalletOne, United Pallet Services, CHEP, PECO, Pacific Pallet and other.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the largest market for wood pallets attributed to the high demand from China & india for import and export of consumer goods, food product and other essentials. North America is the second largest market for wood pallets owing to the large number of local manufacturers and import from other countries. European market is estimated to grow significantly, due to the considerate consumer base. The Latin America and Middle East & Africa is expected to show moderate growth by the end of forecast period.
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