Find out how the market for moulded wood pallets has revolutionised the logistics sector. Explore the numerous uses, advantages, and market trends for moulded wood pallets. Investigate the prospects for efficient and sustainable transportation.
A new forecast by FMI predicts that sales of moulded wood pallets would rise from US$ 2.70 billion in 2023 to US$ 4.66 billion in 2033. During the forecast period, a CAGR of 5.6% is expected to be achieved by the market for moulded wood pallets.
The need for effective and sustainable logistics solutions is growing in today’s fast-paced and environmentally sensitive world. The market for moulded wood pallets provides a cutting-edge method of product packaging and delivery. These cutting-edge pallets, created from compressed wood fibres, offer a durable and portable substitute for conventional wooden and plastic pallets. In this article, we’ll examine the numerous facets of the market for moulded wood pallets, as well as its advantages and prospective effects on the logistics sector.
The favourable characteristics of moulded wood pallets, such as their rigidity, high tensile strength, durability, low weight, and temperature resistance, are among the elements contributing to the market value’s growth. The market demand is also boosted by rules governing the transportation of hardwood packing materials and a rise in the usage of packaging solutions that are more practical and efficient than substitute pallets.
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Factors Boosting the Market for Moulded Wood Pallets
- Increased Focus on Sustainable Packaging: As environmental challenges become more widely known, businesses are actively looking for sustainable packaging options. Demand for moulded wood pallets has increased as a result of how well they fit with their sustainability objectives.
- Stricter Standards and Regulations: Governments and regulatory organisations around the world are putting more restrictions on packaging materials. These requirements are met by moulded wood pallets, guaranteeing the safe and legal transportation of goods.
- Modern Manufacturing Technologies: The production capacity of moulded wood pallets has increased thanks to the development of modern manufacturing technologies. This has led to higher manufacturing effectiveness and cost-effectiveness, which has further fueled market expansion.
- E-commerce and online retail are on the rise: The lucrative e-commerce sector is strongly reliant on effective supply chains and logistics. Moulded wood pallets are a popular option for e-commerce companies because they provide the stability and toughness needed for the safe delivery of goods.
- Moulded wood pallets provide significant cost benefits in terms of decreased transportation costs, fewer product damage, and increased operational efficiency. They are a desirable alternative for companies looking to optimise their supply chain due to these advantages.
Key Takeaways:
- The market in the United Kingdom is anticipated to rise, exhibiting a CAGR of 3.5% through 2033.
- The United States dominated the market in 2022 holding a 15.6% share of the global market.
- With a CAGR of 8.6% over the forecast period, India is predicted to develop significantly in the market.
- The market in China is expected to proliferate, registering a CAGR of 8.1% over the forecast period.
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Competitive Landscape:
The top market players in the molded wood pallets market are
- Litco International Inc,
- Millwood, Inc,
- Snyder Industries, Inc,
- The Nelson Company,
- Beacon Industries Ltd,
- Brambles Ltd,
- Nefab Group,
- Presswood International BV,
- CABKA Group GmbH,
- Schoeller allibert services b.v,
- Loscam Australia pty ltd,
- Kronus Group,
- Linyi Kunpeng Wood Co., Ltd,
- Taik Sin Timber Industry Sdn Bhd, and
- others
Key players in the molded wood pallets market have chosen acquisition, merger, product launch, business expansion, and agreement as their main developmental methods to provide customers with great products and services. Companies competing in the market are also attempting to form strategic alliances and partnerships with other producers to increase the scope of their product lines.
RECENT DEVELOPMENTS:
- In November 2022, Millwood has completed its acquisition of Southworth Wood Products. The 51-acre new region is going to be referred to as MillTree East. Band saws are now being used to reduce the size of the material for pallet assembly. Custom containers and pallets will also be created at this new location, according to the release.
- In August 2020, Southern Molded Pulp and Molded Fiber Technologies and Acorn Pulp Group entered into a settlement agreement for their state-of-the-art molded fiber manufacturing equipment, which guarantees efficient manufacture of the molded wood pallets.
Molded Wood Pallets Market Segmentation
By Product Type:
- Nestable /Stackable
- Rackable Pallets
By End Use:
- Manufacturing
- Food & Beverages
- Chemicals
- Automotive
- Pharmaceuticals
- Others
- Logistics & Transportation
- Building & Construction
By Size:
- Full-size Pallet
- Quarter-size Pallet
- Half-size Pallet
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Ex. Japan (APEJ)
- Middle East & Africa (MEA)
- Japan
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