NEW YORK, May 7, 2021 /PRNewswire/ -- The plastic pallets market is expected to grow by USD 120.45 million, progressing at a CAGR of over 8% during the forecast period.
NEW YORK, May 7, 2021 /PRNewswire/ -- The plastic pallets market is expected to grow by USD 120.45 million, progressing at a CAGR of over 8% during the forecast period.
The benefits associated with the use of plastic pallets is one of the major factors propelling the market growth. However, regulatory norms and standards on the use of plastic pallets may hamper the market growth.
Plastic Pallets Market: Material Landscape
Based on the material, the market witnessed maximum growth in the HDPE pallets segment. The segment is driven by the high demand from medium and large-scale industries with significant material handling requirements. The market growth in the segment will be significant during the forecast period.
Plastic Pallets Market: Geographic Landscape
By geography, APAC is going to have a lucrative growth during the forecast period. About 40% of the market's overall growth is expected to originate from APAC. The growth of the plastic pallets market in APAC is driven by the growth of industries such as industrial goods, electrical and electronics, food packaging, healthcare and medical, and automotive. China and Japan are the key markets for plastic pallets in APAC. Market growth in this region will be faster than the growth of the market in Europe, MEA, and North America.
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Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Material
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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