Global Pallet Market 2015-2019 with Brambles, Loscam, Menasha, Rehrig Pacific & Schoeller Allibert Dominating

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Jul 14, 2015, 08:29 ET

DUBLIN, July 08, 2015 /PRNewswire/ --

Research and Markets(http://www.researchandmarkets.com/research/wp4nzx/global_pallet) has announced the addition of the "Global Pallet Market 2015-2019" report to their offering.

The global pallet market to grow at a CAGR of 4.57% over the period 2014-2019.

The global pallet market is expected to witness steady growth during the forecast period. The major end-users of pallets include durable and non-durable goods manufacturers, and non-manufacturing sectors such as retail, and transportation and warehousing.

Pallets have undergone a series of transformations over the last 50 years in terms of innovations and materials used. Vendors continue to invest in R&D to develop pallets that are environmentally friendly, recyclable, reusable, and cheap to produce. Among the factors affecting purchase decisions, pallet strength and durability are considered the most important. Thus, pallets are designed and developed to be used repeatedly, so that they are able to withstand multiple trips within the supply chain. Vendors are therefore shifting from single-trip pallets to multiple-trip pallets. Also, due to rising pallet-damage rates, operational costs are increasing, which has prompted vendors to focus on developing high-quality pallets.

According to the report, the recovering global economy has increased consumer spending on housing and construction activities across the globe, producing a demand for pallets. A rise in housing and construction activities will have positive downstream effects on the demand for other products, too, such as appliances and durable goods. This will have a multiplier effect on the logistics sector and will benefit pallet companies.

Further, the report states that issues regarding raw material shortages pose a major challenge to the growth of the global pallet market during the forecast period.

Key Vendors