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Pallet pooling (rental) market

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Title: Pallet pooling (rental) market


1
Coherent market insightsMarket Research and
Business Consulting Services
https//www.coherentmarketinsights.com/market-insi
ght/pallet-pooling-market-3360
2
Market Overview
  • A pallet pooling company manages pallets for
    manufacturing organizations. An organization
    rents them from a shared pool instead of buying
    its own supply of pallets. The primary job of
    pallet pooling company is to ensure the supply of
    pallets in good repair and read-to-use at the
    companys disposal whenever it needs them.
    Moreover, pallet pooling company will organize
    the pallets that are to be taken to other
    companies or back to production facilities.
    Moreover, pallet pooling companies reduce
    complexity of pallet procurement, recovery, and
    management with decreasing waste and total cost
    of business (TCB).

3
  • The Global Pallet Pooling (Rental) Market, By
    Material Type (HDPE, Polypropylene And Advanced
    Composite), by Product Type (Nestable, Stackable
    And Rackable), and By End-use (FMCG, Food
    Beverage, Pharmaceuticals, Electronics, Chemical
    Petrochemical And Others) by Geography (North
    America, Europe, Asia Pacific, and Latin America,
    Middle East Africa) - Global Forecast to 2027,
    is expected to be valued at US 1454173.185
    million by 2027, witnessing a CAGR of 6.6
    during the forecast period (2019-2027), as
    highlighted in a report published by Coherent
    Market Insights.

4
Market Dynamics- Drivers
  • Reduction of in pallet damage, owing to timely
    pallet repairs and quality inspections are
    expected to drive growth of the global pallet
    pooling (rental) market during the forecast
    period
  • The primary concern of many companies while
    procurement of plastic pallets is the cost of
    repair, storage, and maintenance of pallets. It
    becomes extremely challenging for companies to
    maintain the balance between the cost of products
    and plastic pallets. Rental companies eliminate
    these costs by providing timely quality
    inspections on an annual, quarterly, or monthly
    bases, in order to avoid damage of pallets.
    Moreover, logistics of pallets reduce staff costs
    by removing pallet procurement and disposal
    programs to manage inventory. Hence, decrease in
    pallet damage is expected to support the global
    pallet pooling (rental) market during the
    forecast period.

5
  • Long-lasting quality provided by plastic pallets
    as compared to wooden pallets is expected to
    propel the global pallet pooling (rental) market
    over the forecast period
  • Plastic pallets are relatively more durable than
    wooden pallets, lasting for around 10-12 years.
    They do not shrink, warp, and splinter easily and
    are capable of working efficiently in-house.
    Moreover, plastic pallets are manufactured with
    nails, fasteners or screws, which can potentially
    swell, loosen or come-off to injure a worker or
    cause damage to products. Hence, these factors
    are expected to boost the adoption of plastic
    pallets and thereby accelerate the market growth
    over the forecast period.

6
  • North America region dominated the global pallet
    pooling (rental) market in 2019, accounting for
    38.4 share in terms of value, followed by
    Europe, and Asia Pacific, respectively.

7
Market Dynamics- Restraints
  • Low-cost associated with wooden pallets as
    compared to plastic pallets is expected to
    restrain growth of the global pallet pooling
    (rental) market over the forecast period
  • The cost of wooden pallets is relatively less as
    compared to plastic pallets, which in turn, is
    expected to hinder its adoption. The expensive
    procurement price of plastic pallets is related
    to three types of molding processes during its
    manufacturing namely injection molding, blow
    molding, and rotation molding. Furthermore, blow
    and injection molding are commonly used processes
    for bulk orders and fast production pallets.
    Apart from having several advantages, high cost
    of molding and limitation in sizing are the
    factors restraining growth of pallet rental
    business. Therefore, these factors are expected
    to restrain the market growth in the near future.

8
  • Severely affected by change in climatic
    conditions is expected to hamper the global
    pallet pooling (rental) market growth during the
    forecast period
  • Plastic pallets often fail to perform under
    changing climatic conditions, which is not the
    case with wooden pallets. Moreover, plastic
    pallets often change their properties and become
    fragile in cold conditions, soft in hot
    conditions, and they lose oil and become fragile
    when they as exposed to direct sun rays. Wooden
    pallets do not show such changes, and thus, they
    are preferred for export applications. Hence,
    change due to climatic conditions is expected to
    hinder the market growth in the near future.

9
Market Opportunities
  • Developing affordable plastic pallets is expected
    to pose lucrative growth opportunity for market
    players
  • Since plastic pallets cost more than wooden
    pallets during their procurement, manufacturers
    in the market can provide novel products to
    capitalize on untapped potential in the market.
    Investing in research and development, in order
    to innovate affordable plastic pallets can enable
    manufacturers to expand their consumer base and
    gain competitive edge in the market. Moreover,
    manufacturers can focus on reducing the cost of
    molding of plastic pallets, thereby providing
    lucrative growth opportunity over the forecast
    period.

10
  • High demand from food and beverages industry is
    expected to present excellent business
    opportunity
  • Food and beverage industry requires enormous
    amount of plastic pallets for transportation of
    frozen and fresh foods. Plastic pallets provide
    sturdy and reliable options as compared to wooden
    pallets. Providing long-lasting and affordable
    plastic pallets is expected to pose excellent
    business opportunity for market players over the
    forecast period.

11
  • High demand from food and beverages industry is
    expected to present excellent business opportunity

12
Market Trends
  • Increasing demand for hygienic pallets for
    medical requirements
  • Numerous end-use industries such as
    pharmaceutical, food and beverage, medical, and
    FMCG require washable, hygienic, and germ-free
    pallets in order to comply with sanitary
    standards. Wooden pallets often fail to fulfill
    these requirements, thereby boosting the demand
    for plastic pallets. Since plastic pallets can be
    washed after used and can be kept clean dry, they
    have witnessed significant demand in the recent
    past. Moreover, they offer smooth and closed
    surface thereby eliminating cavities and dirt
    from the surface area.

13
  • Growing use of radiofrequency identification
    (RFID) tags
  • Companies are incorporating RIFD tags by
    embedding them into plastic pallets. RFID tags
    can trance the plastic pallets through supply
    chain from rental service center to distribution
    facility to end-use industry, thereby preventing
    it from being stolen. This is done with the help
    of radio waves that communicate with transponder
    and store valuable information in a microchip.
    Furthermore, Intelligent Global Pooling System
    (iGPS) was the first pallet pooling company to
    include RIFD tags into their pallets, in order to
    make its supply chain management sophisticated.

14
Value Chain Analysis
15
Segment Information
  • In global pallet pooling (rental) market, by
    material segment HDPE sub-segment dominated the
    global pallet pooling (rental) market in 2019,
    accounting for 74.9 share in terms of value,
    followed by Polypropylene, and Advanced Composite
    sub-segment, respectively.

16
Competitive Section
  • Key players involved in the global pallet pooling
    (rental) market are Demes Logistics GmbH Co.
    KG, iGPS Logistics LLC, Schoeller Arca Time
    Materials Handling Solutions Limited, Loscam
    Australia Pty. Ltd., Zentek Pool System GmbH,
    Brambles Limited, Euro Pool Group, PPS Midlands
    Limited, Contraload NV, and Faber Halbertsma
    Groep B.V.     

17
Key Developments
  • In February 2017, La Palette Rouge, a pallet
    pooling subsidiary of Euro Pool Group, was ranked
    and awarded Advanced Gold by EcoVadis for best
    practices in business from the Corporate Social
    Responsibility front
  • Key companies in the market are focused on
    mergers and acquisitions, in order to enhance
    their market presence. For instance, in April
    2017, PPS Midlands Limited acquired United
    Kingdoms insulated containers and fish boxes
    manufacturers, GW containers to improve its
    market share in packaging solutions businesses.

18
  • Request Sample Report
  • Request Customization
  • Download PDF Brochure
  • Talk to Analyst
  • https//www.coherentmarketinsights.com/market-insi
    ght/pallet-pooling-market-3360

19
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions.
  • What we provide
  • Customized Market Research Services
  • Industry Analysis Services
  • Business Consulting Services
  • Market Intelligence Services
  • Long term Engagement Model
  • Country Specific Analysis

20
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