Pallet Market Growing Rapidly as Major Industry Leader Leap India announces to deploy more pallets to cater demand from food, e-commerce and logistics customers

 


A wooden pallet is an industrial structure that facilitates the
mechanical handling of materials by forklift, front loader, truck, etc. They
are typically made of either wood or plastics. A plastic pallet is those that
are usually made out of polyurethane plastic material. Both kinds of pallets
have their own set of advantages and disadvantages. Wooden pallets are more
popular and available in various sizes. Plastic pallets, on the other hand, are
less expensive than wooden ones. They are also available in various colors and
designs to suit the needs of the customers. Wooden pallets, on the other hand,
are heavier and do not move as easily as plastic ones. Wooden pallets are also
sturdier than their plastic counterparts.

Increasing adoption of innovative pallets
is expected to drive growth of the global pallet market during the forecast
period. Adoption of innovative pallets has increased significantly over the
years. Many companies have started adopting radio-frequency identification
(RFID) tags for product tracking, typically in plastic pallets. Each tag
contains specific information and can be located anywhere in the warehouse
efficiently. Many warehouse management companies and vendors have started using
pallets with RFID tags, in order to avoid damage of pallets as well as loss.
Furthermore, many vendors have started adopting robots for processes such as
pallet dismantling, pallet nailing, and pallet repair. In such cases, RFID tags
can help to accurately measure the impact, temperature, and humidity to ensure
safety, especially in the food supply chain. Thus, these factors are expected
to drive growth of the global pallet market during the forecast period.
Furthermore, increasing demand for plastic pallets across numerous industry
verticals including logistics and shipment is expected to boost the global
pallet market growth over the forecast period.

However, high initial and maintenance cost of pallets, especially
wooden pallets is expected to restrain growth of the global pallet market
during the forecast period. Among regions, Asia Pacific is expected to witness
significant growth in the global pallet market during the forecast period. This
is owing to increasing demand for wooden and plastic pallets across the region.
Emerging economies such as India and China are holding a dominant position in
the region. Furthermore, Middle East & Africa is expected to register a
robust growth rate over the forecast period, owing to increasing demand for
plastic pallets in the transportation and logistics sector.

Key companies operating in the global pallet market are Brambles
Ltd., Schoeller Arca Time Materials Handling Solutions Ltd., CABKA Group GmbH,
The Supreme Industries Ltd., Ergen Plastic Industries, Greif Inc., Sintex
Plastics Technology Ltd., LEAP India Pvt. Ltd., Nilkamal Ltd., and Nefab AB.









For instance, in December 2019, Leap India announced to expand the
number of pallets on lease for customers. 

Comments

Post a Comment

Popular posts from this blog

The Global Gynecological Devices Market Continues To Grow Owing To The Rising Demand For Regular Gynecological Checkups And Increasing Awareness On Women’s Health And Hygiene

Image
  A gynecological device is a medical device that is used to promote female health or to protect and preserve reproductive health for females. This is a very broad category and includes products such as watches, calculators, bandages, and hygienic towels. While many of these products have been clinically tested and found to be safe for female health, there are still a few devices in the market that pose threats to female reproductive health. Gynecological devices are usually fall into three categories: medical devices, biological safety devices, and mechanical devices. Medical devices are those that prevent the risk of injury or trauma to a woman's reproductive organs from medical interventions. Biologic safety devices are those that protect a female's health by promoting female reproductive health. Finally, mechanical devices are those that help maintain a woman's reproductive health and allow her to achieve or reach their desired fertility or pregnancy. The use of any of ...
Read more

Polyethylene Terephthalate Market Continues to Expand as British Petroleum plc signs a cooperation agreement with China Resources Chemical Materials Technology Co. Ltd to strengthen cooperation on PTA sourcing

Image
  PET is an abbreviation for polyethylene terephthalate; the material most often used in PET bottles. PET is an extremely tough plastic, which is why it's commonly used as a packaging material. PET has many advantages over other plastics, including strength, resistance to breaking and crushing, and its natural plasticity it will fill almost anything and is resistant to oil and chemicals that can cause it to break down over time. Rapid growth of the food and beverage industry is expected to drive of the global polyethylene terephthalate market growth . The food and beverage industry has witnessed significant growth in both developed and emerging economies. According to the Food and Drink Federation, the U.K., the food and drink manufacturing sector accounts for 17% in terms of economic contribution. Furthermore, according to the India Brand Equity Foundation (IBEF), the food processing industry contributed 14% of the country’s GDP in 2016. Polyethylene terephthalate or PET is widely...
Read more

Stomach Cancer Drugs Market Continues to Expand as South Korean Drug Manufacturer Celltrion Inc. Receives the WHO Prequalification Standards for its biosimilar

Image
  Stomach cancer is a growth of abnormal tissues that form a tumor in the part of your abdomen. Symptoms of stomach cancer often include persistent abdominal pain, extreme heartburn, extreme vomiting, severe indigestion, abdominal swelling, and frequent diarrhea. These symptoms are common for all forms of stomach cancer but when cancer spreads to the upper part of the chest, the symptoms become far more severe and may eventually cause death. Stomach cancer has the highest survival rate of any type of cancer in the world.  Crocetin (trade name Eulexin) is the first Stomach Cancer Drug that is used in the treatment of gastric cancer. It was later on approved for treating peritoneal mesothelioma but was not marketed extensively due to its negative outcomes at the beginning. Increasing prevalence of stomach cancer is expected to drive growth of the global stomach cancer drugs market during the forecast period. According to the American Cancer Society (ACS), in 2020, around 27,600...
Read more