20 WESTERN PALLET
Spotted lantern fly, originally from China, has invaded the US East Coast, and is expected to make its way to California. Credit: Stephen Asmus / USDA-ARS
Report from Atlas Pallets after Caliente Fire
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exhibit a higher CAGR in comparison to fellow regions.
- Growth of manufacturing, infrastructural, and transportation sectors would remain pivotal to the buildup of global pallets market.
Demand for pallets is concentrated predominantly in the food and beverages industry.
- Wood pallets will account for the majority of the market share owing to factors such as ease of availability of wood and better price efficiency than other materials.
- Plastic pallets are gaining prominence in food & beverages, automotive, and pharmaceutical industries owing to their high strength, durability, lightweight, and long term environmental sustainability.
Local Manufacturers Leading their Way in Pallets Market
The market for pallets is identified to be a fairly fragmented on a global level, with leading market players accounting for nearly 8-10% of overall market size as of 2018. However, significant fragmentation is witnessed in regions such as Asia Pacific, where local manufacturers hold prominent market positions.
This information is based on a report on the pallet market by Persistence Market Research.