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Plastic Pallets Market Demands & Newest Innovations Analysis & Forecast Report 2020-2027

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Tom Clarke
Plastic Pallets Market Demands & Newest Innovations Analysis & Forecast Report 2020-2027

The Europe Plastic Pallets Market was valued at USD 8,311.1 Million in 2019 and is projected to reach USD 13,793.8 Million by 2027 expanding at a CAGR of 7.2% during the forecast period, 2020-2027. Pallets are flat and stable panels that are used for the storage and transportation of raw materials and finished goods. These pallets are manufactured in different sizes and are available in a range of colors. Pallets are short in height, light in weight, and compatible for lifting weights; therefore, they are used as a base for assembling, loading, storing, handling, stacking, transporting, or displaying goods and loads.

Pallets protect goods and products from damage and contamination. Plastic pallets are used by various end-use industries such as food & beverage, pharmaceutical, consumer goods, electronics, and textile. These pallets are used in warehouses of industries for convenient storage and transport of goods and material handling. Plastic pallets are often made of new HDPE or recycled materials.

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Pallets are manufactured in such way that they are free from corrosion, weather resistance, and moisture and chemical resistant. Plastic pallets are stronger and lighter than wooden pallets. A wide range of plastic pallets such as drum plastic pallets, export plastic pallets, spill control plastic pallets, display plastic pallets, hygienic plastic pallets, anti-static plastic pallets, RFID plastic pallets, transport plastic pallets, shipping plastic pallets are available for various applications in the market.

The market is driven by factors such as rising adoption of plastic pallets, emergence of RFID technology in plastic pallets, increasing number of end-user industries, growing application in warehouse logistics management, and plastic pallets are sustainable alternatives for wooden pallets. Conversely, increasing carbon footprint, high cost of plastic pallets are key restraints of this market. Growing R&D investments and increasing demand of pallets for effective supply chain are boosting the market.

Increasing adoption of plastic pallets by new end-use industries, and rising adoption of technologically advanced and environment friendly products are the key factors expected to create lucrative opportunities in the market.

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