Europe Plastic Pallets Market Expected to Reach US$ 13,793.8 Million by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Europe Plastic Pallets Market by Plastic Type, by Pallet Type, by Material, by Function, by End-Use Industry, by Sales Channel and by Country: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at US$ 8,311.1 Million in 2019 and is expected to grow at a healthy growth rate of 7.2% by the year 2027. The Europe Plastic Pallets market is anticipated to grow owing to by factors such as rising adoption of plastic pallets, emergence of RFID technology in plastic pallets, increasing number of end-user industries, and growing application in warehouse logistics management are boosting the market growth.

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The Europe Plastic Pallets market is fragmented based on plastic type, pallet type, material, function, end-use industry, sales channel and country. Based on the plastic type, the market is classified as Lumber Plastic, and Molded Plastic. In terms of pallet type, the market is categorized as Nestable, Rackable, Stackable, Drum, Others. In terms of materials, the Europe plastic pallets market is segregated into HDPE, PP, PVC, and others. In terms of functions, the Europe plastic pallets market is classified as heavy & medium duty plastic pallets, special purpose plastic pallets. Based on end-use industries, the Europe plastic pallets market is segmented into metal & machinery, agriculture, chemical & pharma, food & beverage, construction, wholesalers, exports, and others. In terms of distribution channels, the Europe plastic pallets market is categorized as online and offline channel. In terms of countries the Europe plastic pallets market has been fragmented into Germany, France, Italy, U.K., Spain, Russia, Rest of Europe.

In year 2020, the plastic pallets market is witnessing downtrend owing to the negative impact of COVID 19 pandemic. In this challenging environment, most companies in the manufacturing sector can take concrete steps. Some measures are austere and austerity measures to maintain long-term goals should be moderated. Activities in the manufacturing sector have paused and caused a decline in the demand for related products due to the current lockdowns across the region. The GDP of all countries is expected to decline due to the outbreak. Economists believe that even after the national lockdown is lifted, countries can take a few quarters for their economy to come back on track. Industry officials feel that complete lockdowns in countries are expected to further strain businesses.

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As per GMR industry analyst Partha Paul, “The Europe Plastic Pallets Market is anticipated to witness significant growth during forecast period 2021-2027. The market growth is increasing number of end-user industries, growing application in warehouse logistics management, and plastic pallets are sustainable alternatives for wooden pallets. The Molded Plastic segment held 77.1% share of the market in 2019 and is anticipated to expand at a CAGR of 7.1% during the forecast period. However, Lumber Plastic is accounted to expand at highest CAGR during the forecast period. On the basis of the material, HDPE holds highest market share. Special Purpose Plastic Pallets are expected to expand at highest CAGR (7.7%) during the forecast period. Food & Beverage holds the highest value in 2019 and also expected to dominate during the forecast period. Offline sales channel is accounted for the major market share in 2019 owing to physical sales from wholesalers, retailers etc. Germany holds the highest market value share in 2019 (16.0%) and also anticipated to expand at highest CAGR owing to high demand for plastic pallets among end-use industries such as food & beverage, chemical & pharma etc”.

Key Takeaways from the Study:

• The players including Brambles, Meridian Group D.O.O., CABKA Group, and WERIT Kunststoffwerke W. Schneider GmbH & Co. KG., together hold approximately ~12 % of market share of Europe Plastic Pallets market in year 2019.
• Germany accounts for a major share of the market, followed by Italy. The market in Italy is predicted to expand at significant CAGR during the forecast period, due to increasing investments in new innovative technologies in several manufacturing industries across the country.
• The Special Purpose Plastic Pallets are expected to expand at highest CAGR during the forecast period.
• Lumber Plastic is accounted to expand at highest CAGR during the forecast period.

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Report Scope:

Target Audience:

• Supply-side: Manufacturers, raw material suppliers, and distributors, retailers, wholesalers
• Demand Side: Metal & Machinery industry, Agriculture industry, Chemical & Pharma, Food & Beverage, Construction, Wholesalers, Exports
• Regulatory Side: Concerned government authorities, and other regulatory bodies
• Associations and Industry Bodies: ISPM 15 Regulations, ISO 9001:2015 Quality management systems, ISO 14001:2015 Environmental management systems.

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