Pallet wraps are used to wrap goods before they are placed on a pallet. These wraps are specific wrapping machines used in the handling and picking of pallet loads varying in weight and height. Packaging products are tightly wrapped in order to keep goods in one position for the duration of shipment. The growing popularity of these wraps is expected to increase sales growth of the global pallet wraps market in the coming years. The increasing focus on lightweight packaging solutions is projected to boost the sales growth of the global Pallet Wraps market during the forecast period set between 2021 and 2031.
The pallet wraps market is segmented on the basis of thickness, product, film, material, end use, and region. With respect to thickness, the market is categorized into >45 mm, 31-45mm, 15-30 mm, and <15mm pallet wraps. Based on product, the market is bifurcated into machine rolls, and hand wrap rolls. In terms of film, the market is split into cast film pallet wraps, and blown film pallet wraps. With respect to material, the market is categorized into PVdC, polyamide, polyethylene terephthalate, polypropylene, and polyethylene pallet wraps. The polyethylene pallet wraps segment is again trifurcated into HDPE, LDPE, and LLDPE. Based on end use, the market is categorized into electrical and electronics, automotive, consumer goods, personal care & cosmetics, chemicals and fertilizers, pharmaceuticals, food & beverages.
The research report on pallet wraps market offers an in-depth analysis of the market and drivers, restraints, challenges, and future growth opportunities. It also highlights on the recent developments and innovations that helped the market grow in terms of revenue generation. List of the manufacturers operating in this market and their efforts in the form of innovations and new product launches is also discussed in details. The impact of the novel COVID19 pandemic is also discussed in the report. For more information on this market, log on to the company website.
The nature of competition for this market is fragmented owing to the presence of multiple vendors. Leading players of the pallet wraps market are engaging in joint ventures and merger strategies to gain an upper hand in the overall market competition. Others are investing in introduction of innovative products to attract more revenues to the market. The key objective is to ensure a significant position in the market competition and earn handsome revenues for the overall market.
Some of the key players of the global Pallet Wraps market include:
The advent and rising popularity of Industry 4.0 is a prime factor augmenting the growth of automation industries. The increasing advancements in packaging process will also help boost the growth of this market in the coming years. Besides this, the increasing popularity of polyvinyl chloride or PVC for pallet packaging owing to their longer shelf life will also help augment the sales growth of the global pallet wraps market during the forecast period. On the other side, the high operational cost of pallet wraps may pose a major hindrance to this market in the coming years.
Geographically, this market is widespread into the regions of Latin America, Europe, North America, and the Middle East and Africa. These regions are further categorized as per the nations bringing business. Asia Pacific emerged as the largest revenue generator for the pallet wraps market on account of the rapidly advancing booming packaging industry. This, coupled with the rise in disposable incomes of people and their willingness to invest in better automated pallet papers will further help this region continue dominating the market in the near future. The market in North America will also generate notable shares on account of the rising number of packaging establishments.
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