Global Presswood Pallets Market to reach USD 0.58 billion by 2027.Global Presswood Pallets Market is valued approximately USD 0.46 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 3.28 % over the forecast period 2021-2027. Presswood Pallets are compressed wooden pallets that are manufactured from press wood and compress wood and are suitable for heavy loads. Growing logistics industry and rising demand for sustainable material are key drivers for the growth of Presswood Pallets market. According to World Economic Forum there is USD 1.5 trillion of value at stake for logistics players and a further USD 2.4 trillion worth of societal benefits because of digital transformation of the industry up until 2025. Also, as per Asian Development Bank Logistics sector in India is worth USD 215 billion industry in 2020 and It is projected to expand through 2032 at a rate of 1.2 times the India's GDP rate and would generate USD 360 billion. Also, with the increasing application in end use industries, the adoption & demand for Presswood Pallets is likely to increase the market growth during the forecast period. However, negative impact of covid 19 on end use industries impedes the growth of the market over the forecast period of 2021-2027.
The key regions considered for the global Presswood Pallets market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. North is the leading/significant region across the world in terms of market share owing to increasing demand for the end-use applications in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such increasing demand for the product from countries such as India would create lucrative growth prospects for the Presswood Pallets market across Asia-Pacific region.
Major market player included in this report are:
Inka Pallets UK
Litco International, Inc.
Acorn Packaging Services Ltd.
Associated Pallets Ltd.
The Nelson Company
Plastochem India Pvt. Ltd.
Hangzhou Penno Packtech Co., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Quarter Size presswood pallets
Half-size presswood pallets
Full-size presswood pallets
By End Use Industries:
Food & beverages,
Logistics & transportation,
Building & construction,
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027
Target Audience of the Global Presswood Pallets Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers