Foldable & collapsible pallets are invented to improve the ergonomics, especially for manufacturing companies to reduce operational cost and to gain the competitive advantage over the peer manufacturers. Foldable & collapsible pallets are extremely useful for achieving maximum space saving when they are put to use in a closed loop of operation. Suppliers can put approx. eight folded pallets against three erected pallets while returning from the delivery point. Foldable & collapsible pallets are commonly made of plastic which improves the number of cycles for which it can be used, thus making it an attractive option for manufacturers. The ability of foldable & collapsible pallets for handling a huge amount of load has increased the scope of its application in food, beverage, pharmaceutical, automotive, automobile, and metal working industries.
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Foldable & Collapsible Pallets Market: Market Dynamics
The increasing global trade has created the need for handling the goods more efficiently in bulk quantity. The industrial bulk packaging market is expected to be around US$ 58 Bn and is expected to grow at a CAGR of 4.6%, during the forecast period. The ability of foldable & collapsible pallets in efficient utilization of the space during the transportation of the goods is the key driver for foldable & collapsible pallets market. Some other factors such as reusability and recyclability are also supporting the growth of foldable & collapsible pallets market. The manufacturer is preferring foldable & collapsible pallets over non-foldable rigid containers as its use reduces the carbon footprint of the manufacturers without hampering their material handling capability. However, the introduction of flexitanks has reduced the use of bulk containers while ultimately hampering the demand in foldable & collapsible pallets market. On the backdrop of the rapidly increasing global trade, the demand for foldable & collapsible pallets is poised to increase over the forecast period.
Foldable & Collapsible Pallets Market: Market Segmentation
Foldable & collapsible pallets market is segmented by material type, by capacity, by shape, by end use and by end use industry.
Based on the material type, foldable & collapsible pallets market is segmented into:
Based on the capacity, foldable & collapsible pallets market is segmented into:
- 1500-3000 lb
- 3000-6000 lb
- 6000-8000 lb
- 8000-10000 lb
Based on the shape, foldable & collapsible pallets market is segmented into:
- Inline pallets
- Square pallets
Based on the end use, foldable & collapsible pallets market is segmented into:
- Intermediary Bulk containers
- Jerry Cans
Based on the end use industry, foldable & collapsible pallets market is segmented into:
- Pharmaceutical industry
- Food & beverage industry
- Chemical & Petrochemical Industry
- Consumer Goods Industry
- Industrial packaging industry
- Shipping and logistic industry
- Retail industry
- Automotive Industry
- Aerospace Industry
- Metalworking Industry
- Electrical & Electronics Industry
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Foldable & Collapsible Pallets Market – Regional Outlook:
Regionally global foldable & collapsible pallets market is segmented into
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
Being the world’s manufacturing hub, the demand for foldable & collapsible pallets in APEJ region is expected to grow rapidly over the forecast period. North America is expected to be the second largest contributor in foldable & collapsible pallets market due to its high exports. Western Europe being a mature region is expected to grow moderately in foldable & collapsible pallets market. The demand for foldable & collapsible pallets market is expected to be sluggish in Eastern Europe and Latin America due to weakening of the economy in the region. MEA and Japan region are expected to account for the significant portion in world foldable & collapsible pallets market.
Foldable & Collapsible Pallets Market – Key Players:
Some major players of the foldable & collapsible pallets market are UltraTech International, Inc., Safety Storage Systems, Eagle Manufacturing Company, Justrite Mfg. Co., L.L.C., Nilkamal Limited. Robinson Industries, Inc., T.M. Fitzgerald & Associates, GEI Works, Jonesco (Preston) Ltd, CEP Sorbents, Inc. Shanghai Sourcing International Trade Co., Ltd. And Qingdao Huading Imp. And Exp. Co., Ltd.
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