The report forecasts the pallet market in Europe to grow at a CAGR of 5.57% during the period 2016-2020.
Growing preference for block pallets will be a key trend for market growth. The preference for block pallets among large retailers is increasing. Costco and Walmart, major retailers in the region, have shown preference for block pallets. Consequently, manufacturers are expected to focus on manufacturing block pallets and block pallets are expected to account for a large proportion of the market by 2019. The is trend is aiding the growth of large pallet poolers such as CHEP and PECO, which only deals in block pallets, putting small, family-owned, or independent producers who manufacture stringer pallets.
According to the report, impact of ISPM 15 regulation will be a key driver for market growth. The phytosanitary regulation ISPM 15 is a quality standard set for pallets by the International Plant Protection Convention (IPPC) to prevent pest movement between countries when goods are transported using pallets. Most pallet manufacturers in European countries follow this standard. As a result, unregulated and non-licensed smaller enterprises find it difficult to compete with companies that comply with the ISPM 15 standard.
Further, the report states that fire mitigation and maintenance issues will be a challenge for the market. A series of fire breakouts in pallet warehouses has caused significant damage to pallet companies over the past two years (2014-2015). In May 2015, in the US, the Greencastle, Franklin County facility of Shank's Pallets (a pallet recycling company) caught fire, causing approximately $2 million in damages to the company. The Ottawa County facility of Holland Pallet Repair (a pallet repair company) caught fire in March 2015, destroying the workplace.
- Rehrig Pacific
- Schoeller Allibert
- SSI SCHAEFER.
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by materials
PART 07: Market segmentation by materials
PART 08: Geographical segmentation
PART 09: Key leading countries
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
For more information about this report visit http://www.researchandmarkets.com/research/rh3zcm/pallet_market_in
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pallet-market-in-europe---analysis-technologies--forecasts-report-2016-2020---pallet-pooling-reduces-costs-by-one-fourth---research-and-markets-300335751.html
SOURCE Research and Markets