Composite Pallet Market – Introduction
Pallet is a form of tertiary wrapping, a flat structure used as a base for unitization of goods in the value chain. Moreover, composite pallet is a rigid, portable, horizontal platform that is used as a base for stacking, assembling, storing, transporting, and handling goods as a unit load and is often equipped with superstructure. Additionally, the superstructure is an assembly, which is connected to the secondary base of the pallet.
Composite Pallet Market – Competitive Landscape
Founded in 1948, Pfeifer Group is headquartered in Fabrikstrasse, Switzerland, Europe. The company manufactures and distributes a wide range of wood, and provides plywood, formwork girders, lumber, swan timber, pallet blocks, solid wood panels, and wood briquettes. In 2016, the company acquired Holzindustrie Chanovice s.r.o., a timber industry from its parent company, the Haas Group. The company has its production sites in Europe in Imst, Kundl, Unterbernbach, Uelzen, Lauterbach, Schlitz, Trhanov, and Chanovice.
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Bastian Solutions, Inc.
Incorporated in 1952, Bastian Solutions, Inc. is based in Indianapolis, Indiana, the U.S. The company designs, produce, and sells material handling equipment as well as information systems connected with proven operational strategies. The company offers conveyors, lift, load, and work positioners, carts, dollies, trucks, and moving equipment, bins, totes, and pallets, workstations & workbenches, safety equipment & ergonomic matting, casters, storage, shelving, and racking, etc. Moreover, the company provides various technologies, such as order fulfillment, sortation, picking technologies, WMS & WCS, automated guided vehicles, and mobile robotics. The company provides it products and services to various industries, including industrial distribution, manufacturing, aerospace, automotive, consumer goods, food & beverages, pharmaceutical, retail & apparel, and third party logistics. The company has presence in North America, Europe, Asia Pacific, and Latin America.
Based in Hong Kong, China, LOSCAM has over 77 years of experience in designing and manufacturing returnable package handling solutions and equipment. The company offers pallets, cages, collars & lids, crates, bins, IBC, and transporting, distributing, and retailing products. It provides various solutions to its clients in retail, hardware, consumer products, automotive, agriculture, horticulture, and industrial sectors, globally. The company has offices in more than 23 countries across the Asia Pacific region.
Major companies operating in the global composite pallet market include Flo-Pallet Inc., Shanghai Seven Trust Industry Co., ltd, RM2. International, LOSCAM, Schoeller Allibert, CABKA Group, German Plant Experience Pty Ltd (RHINO), Pfeifer Group, Bastian Solutions, Inc., and Millwood, Inc.
The global composite pallets market is fragmented, owing to the presence of various composite and wooden composite pallet manufacturers, pallet pooling firms, pallet recycling specialists, and pallet management companies. The level of competition between the payers in the market is high, and producers are focusing on introducing new technologies and providing personalized products to customers. Moreover, a number of payers are adopting strategies, such as mergers, acquisitions, and partnerships to gain competitive edge in the global market.
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Global Composite Pallet Market – Driver
Rising Consumer Spending on Infrastructural Activities
The global composite pallet market is anticipated to witness considerable growth during the forecast year due to rise in consumer expenditure on infrastructural activities and recovery of various industries, such as housing and construction. Moreover, improving global economy is driving consumer spending on construction and housing activities, which is likely to boost the demand for composite pallets in the near future.
Global Composite Pallet Market – Segmentation
The global composite pallet market can be segmented based on:
Composite Pallet Market, by Application
In terms of application, the global composite pallet market can be segregated into:
- Food & Beverage
- Metal & Machinery
The report on the global composite pallet market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.