A pallet is a flat structural surface used to handle transport, store goods, or transport freight. As a form of tertiary packaging, pallets are the foundational platform on which products, materials, and equipment can be placed and transported easily.
Plastic pallets are rigid structures manufactured using different plastic materials like High-Density Polyethylene and Polypropylene. They are meant to provide mechanical stability to a variety of goods during handling to maintain their quality. This blog post takes you to the realm of plastic pallets and sheds light on the major factors driving the plastic pallets market growth. Read on to know more!
Plastic pallets are usually made from the following materials:
High-Density Polyethylene Pallets (HDPE): These are the most popular form of plastic pallets. HDPE pallets are renowned for their high versatility and strength. Also, HDPE has high impact resistance, meaning it can absorb shock and preserve the quality of goods during abrupt handling.
Polypropylene Pallets (PP): These are the second most common form of plastic pallets. PP pallets are renowned for being stronger and more rigid than HDPE pallets. However, they tend to be more expensive than their HDPE counterparts.
Polyethylene Terephthalate Pallets (PET): PET pallets are known for being dimensionally stable and having good corrosion resistance. Also, the surface of these pallets is untraversable by moisture, liquid, and gases.
Besides these, the other two materials used to make plastic pallets are fiberglass and polyolefins.
According to a new study by Polaris Market Research and Consulting, the plastic pallets market was valued at USD 7.60 billion in 2022 and is expected to grow at a CAGR of 5.41%, generating an estimated revenue of USD 12.67 billion by 2032.
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Plastic pallets are grouped into different types based on the way they support the top deck:
Stringer plastic pallets: The top deck of these pallets is supported by longitudinal slabs positioned across the pallet’s center. The slabs of these pallets are referred to as stringers.
Block plastic pallets: Here, columnar posts called blocks support the top deck. The blocks are positioned on the corners and the pallet’s center.
Four-way pallets: These pallets have an entry on every side of the pallet. As a result, they offer more handling efficiency, especially when the floor space is limited.
Two-way plastic pallets: As their name implies, these pallets provide entry on two sides. As the entry points are limited, they must be maneuvered to a specific angle to gain access to the pallet.
By type plastic pallets market segmentation, the nestable segment held the largest revenue share of the market in 2022. This is widely because nestable pallets are a popular choice in various sectors due to their cost-effectiveness and space-saving advantages. Also, they tend to be less expensive than stackable pallets, making them a good option for businesses and industries looking to optimize their supply chain logistics.
There are several benefits of using plastic pallets in the supply chain. Some of them include:
Plastic pallets support the mobility of goods by being movable by equipment like pallet jacks and forklifts. These pallets have standardized sizes to comply with the regulations imposed by the local governing body. The rising demand for sustainable packaging solutions and the incorporation of advanced technologies like RFID in plastic pallets are the major factors driving the plastic pallets market sales.
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