Shipping tray is used for conveying products and components in the manufacturing and distribution process. The growing manufacturing sector is rising the need for highly efficient distribution process to enhance productivity. The improving distribution process is creating a high market opportunity for shipping and conveying tools and products. Shipping tray is one of the significant shipping product to transport small sized identical parts within manufacturing facility or distribution channel. Shipping tray is thermoformed to create product sized hollow shape to offer resistant shipping. Shipping tray provides perfect placement of product with quick identification. Single use or disposable shipping tray protect at a low cost when shipping fragile equipment. Reusable shipping tray is used for in-house shipping and storing purpose. Customized shipping tray is attributed to expanding in demand due to precision machines components for automotive and industrial applications.
Global Shipping Tray Market: Dynamics
Bourgeoning Manufacturing Sector Drives Shipping Tray Market
Due to increasing disposable income and growing consumption from developing economies, the manufacturing sector is expected to expand at an impressive growth rate. Rising production of machines, automotive parts, and electronics is generating a need for new products for material handling. Manufacturers and inventory managers are seeking to find out new solutions for distributing small parts without any interventions. Shipping tray is expected to rise in demand due to the growing need for secure conveying products for small components in the manufacturing process. The global manufacturing value added was accounted for US$ 13.52 trillion in 2017, which is expected to promise strong growth in the next decade. The medical industry is attributed to providing lucrative market growth to shipping trays for packaging of medical components.
Molded Fiber Pulp Tray Expected To Reduce the Market of Shipping Tray
Shipping tray can be easily stacked and reused which makes it suitable for transport. Conversely, the shipping tray market is anticipated to witness a drop due to the increasing intolerance about plastic use. Molded fiber pulp is expected to replace plastic shipping trays owing to eco-friendly packaging solutions. Shipping tray made up from bioplastics is attributed to producing new market opportunity for manufacturers. Blisters and clamshells are projected to minimize the market share of shipping trays.
Global Shipping Tray Market: Segmentation
The global shipping tray market has been segmented on parameters such as material type and end-user industry.
On the basis of usability, the global shipping tray market has been segmented into:
On the basis of end-user industry, the global shipping tray market has been segmented into:
Global Shipping Tray Market: Geographical Outlook
Growth of the shipping tray market is highly depended upon manufacturing sectors conditions of respective market regions. The Asia Pacific is estimated to be leading region for shipping trays market owing to evolving manufacturing sector in China, India, South Korea, and Japan. Europe is estimated to be the second major market for shipping tray due to the house of high volume demanding end-users. North America shipping tray market is expected to witness sluggish growth due to the stabilized manufacturing sector and high attention to the service sector. With a minimum market share, Latin America and Middle East & Africa are expected to witness remarkable growth in shipping tray market.
Global Shipping Tray Market: Key Players
Some of the key players operating in the global shipping tray market are as follows:
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