Product Code: GVR-4-68040-304-3
North America Plastic Pallets Market Growth & Trends:
The North America plastic pallets market size is expected to reach USD 3.07 billion by 2030, growing at a CAGR of 5.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. This growth is attributed to the rising preference for plastic pallets over wooden pallets by end-use industries such as food & beverage and pharmaceuticals due to the excellent resistance exhibited by plastic pallets to fungi growth, insects, and other pests.
Plastic pallets are manufactured without any welds and joints, unlike wooden pallets which are joined by hammering nails into wooden blocks. The whole solid structure of plastic pallets reduces the chances of breakage or frequent maintenance. Furthermore, in terms of weight plastic pallets weigh significantly less compared to wooden pallets, thus enabling a reduction in logistics costs.
Incentives programs are being introduced by North American country governments to promote reusable packaging which can present a positive outlook for the plastic pallets market in North America. For instance, the U.S. Department of Agriculture (USDA) offers loans and grants and for projects that improve farm-to-market infrastructure, including the use of reusable pallets in the country. Some states such as California, New York, Texas, Massachusetts, Illinois, and Oregon, as well as several municipalities, offer tax breaks or other incentives for businesses that adopt sustainable practices, which could benefit companies using plastic pallets.
For instance, in September 2023, Monoflo International announced the completion of construction of its new 325,000 square foot storage and logistics facility in Winchester, Virginia. This expansion initiative is aimed at doubling the warehouse storage capacity of Monoflo International to accommodate plastic pallets, trays, plastic totes, and bulk containers.
The industry players are adopting several strategic initiatives such as partnership agreements, expansions, joint ventures, mergers & acquisitions, and new product launches to increase the individual market share. For instance, in September 2023, DENIOS launched drum spill containment pallets that trap spills, drips, and leaks from drums to keep work areas safe and clean. These pallets are suitable to be used for the storage of acids and other corrosive liquids, coolants, and oils.
Market dynamics for plastic pallets in North America are influenced by the e-commerce boom, which leads to rising demand for lightweight and durable plastic pallets that are capable of handling increased online retail activities. For instance, in June 2023, Shein, a fashion company, announced its intent to expand its e-commerce operations in Mexico. The company plans to open a manufacturing facility in the country and is scouting for 35,000 square meters warehouse. The penetration of e-commerce companies in Mexico will drive the demand for plastic pallets to be used in warehouses.
North America Plastic Pallets Market Report Highlights:
- Food & beverages dominated the application segment in 2023 with the largest revenue share in 2023. Growing safety concerns regarding the use of wooden pallets due to their poor resistance to pests and fungi growth contribute to increased adoption of plastic pallets in food & beverages.
- Rising requirements to reduce the overall weight of bulk packaging due to rising fuel and transportation costs are driving the demand for lighter bulk packaging products. This is expected to drive the demand for plastic pallets.
- Plastic pallet manufacturing involves computerized pallet design and injection molding processes that demand expensive tooling, which surges the overall price of end products. Furthermore, fluctuations in the availability of plastic resins are expected to challenge the North American plastic pallet market's growth.
- The U.S. dominated the North America market for plastic pallets in 2023. The U.S. has a well-developed transportation and logistics infrastructure, including a vast network of highways, airports, and ports. This infrastructure necessitates efficient and durable materials such as plastic pallets for handling and transporting goods throughout the country.
- In December 2023, C&T Matrix Ltd announced the success of its newly launched plastic pallets, which were designed to meet the specific requirements of the packaging industry. These pallets are food safe, adhere to BRC accreditation standards, and ensure compliance with hygiene standards. As stated by the company, it had sold over 2,000 units of these plastic pallets as of December 2023 to ensure safe and hygienic production.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Materials & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
- 1.7. List of Abbreviations
Chapter 2. Executive Summary
- 2.1. Market Outlook, 2023 (USD Million)
- 2.2. Segmental Outlook
- 2.2.1. Material Outlook
- 2.2.2. Product Outlook
- 2.2.3. Application Outlook
- 2.3. Competitive Landscape Snapshot
Chapter 3. North America Plastic Pallets Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Raw Material Outlook
- 3.3.1. Major Raw Material Analysis
- 3.4. Manufacturing Trends
- 3.4.1. Injection Molding
- 3.4.2. Thermoforming
- 3.4.3. Manufacturing Processes Overview
- 3.5. Profit Margin Analysis
- 3.6. Technology Overview
- 3.7. Regulatory Framework
- 3.7.1. Policies And Incentive Plans
- 3.7.2. Impact Analysis Of T-MEC
- 3.7.3. U.S.
- 3.7.4. Regulatory Impact Analysis
- 3.8. Market Dynamics
- 3.8.1. Market Driver Analysis
- 3.8.2. Market Restraint Analysis
- 3.8.3. Market Challenges Analysis
- 3.8.4. Market Opportunity Analysis
- 3.9. Business Environment Analysis
- 3.9.1. Industry Analysis - Porter's
- 3.9.1.1. Supplier Power
- 3.9.1.2. Buyer Power
- 3.9.1.3. Substitution Threat
- 3.9.1.4. Threat from New Entrant
- 3.9.1.5. Competitive Rivalry
- 3.9.2. PESTEL Analysis
- 3.9.2.1. Political Landscape
- 3.9.2.2. Environmental Landscape
- 3.9.2.3. Social Landscape
- 3.9.2.4. Technology Landscape
- 3.9.2.5. Economic Landscape
- 3.9.2.6. Legal Landscape
- 3.10. Latest Trends & Technologies in the North America Plastic Pallets Market
- 3.11. Impact of Geopolitical Conflicts on North America Plastic Pallets Market
Chapter 4. Plastic Pallets Market Price Trend Analysis
- 4.1. Price Trend Analysis by Material, 2018 - 2030 (USD/Unit)
- 4.2. Factors affecting the Pricing Deviations
Chapter 5. North America Plastic Pallets Market: Market Supplier Intelligence
- 5.1. Kraljic Matrix (Portfolio Analysis)
- 5.1.1. Non-Critical Items
- 5.1.2. Leverage Items
- 5.1.3. Bottleneck Items
- 5.1.4. Strategic Items
- 5.2. Engagement Model
- 5.3. Negotiation Strategies
- 5.4. Sourcing Best Practices
- 5.5. Vendor Selection Criteria
Chapter 6. North America Plastic Pallets Market: Material Estimates & Trend Analysis
- 6.1. Definition & Scope
- 6.2. Key Takeaways
- 6.3. Material Movement Analysis & Market Share, 2023 & 2030
- 6.3.1. High-Density Polyethylene (HDPE)
- 6.3.1.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Million Units)
- 6.3.2. Low Density Polyethylene (PE)
- 6.3.2.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Million Units)
- 6.3.3. Polypropylene (PP)
- 6.3.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Million Units)
- 6.3.4. Other Materials
- 6.3.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Million Units)
Chapter 7. North America Plastic Pallets Market: Product Estimates & Trend Analysis
- 7.1. Definition & Scope
- 7.2. Key Takeaways
- 7.3. Product Movement Analysis & Market Share, 2023 & 2030
- 7.3.1. Nestable
- 7.3.1.1. Market estimates and forecasts, 2018 - 2030 (Million Units) (USD Million)
- 7.3.2. Rackable
- 7.3.2.1. Market estimates and forecasts, 2018 - 2030 (Million Units) (USD Million)
- 7.3.3. Stackable
- 7.3.3.1. Market estimates and forecasts, 2018 - 2030 (Million Units) (USD Million)
- 7.3.4. Other Products
- 7.3.4.1. Market estimates and forecasts, 2018 - 2030 (Million Units) (USD Million)
Chapter 8. North America Plastic Pallets Market: Application Estimates & Trend Analysis
- 8.1. Definition & Scope
- 8.2. Key Takeaways
- 8.3. Application Movement Analysis & Market Share, 2023 & 2030
- 8.3.1. Food & Beverages
- 8.3.1.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Million Units)
- 8.3.2. Chemicals
- 8.3.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Million Units)
- 8.3.3. Pharmaceutical
- 8.3.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Million Units)
- 8.3.4. Petroleum & Lubricants
- 8.3.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Million Units)
- 8.3.5. Automotive
- 8.3.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Million Units)
- 8.3.6. Consumer Goods
- 8.3.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Million Units)
- 8.3.7. Paint
- 8.3.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Million Units)
- 8.3.8. Retail
- 8.3.8.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Million Units)
- 8.3.9. Construction
- 8.3.9.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Million Units)
Chapter 9. North America Plastic Pallets Market: Regional Estimates & Trend Analysis
- 9.1. Key Takeaways
- 9.2. Regional Movement Analysis & Market Share, 2023 & 2030
- 9.3. North America
- 9.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Million Units)
- 9.3.2. Market Estimates and Forecasts, by material, 2018 - 2030 (Million Units) (USD Million)
- 9.3.3. Market Estimates and Forecasts, by product, 2018 - 2030 (Million Units) (USD Million)
- 9.3.4. Market Estimates and Forecasts, by application, 2018 - 2030 (Million Units) (USD Million)
- 9.3.5. U.S.
- 9.3.5.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Million Units)
- 9.3.5.2. Market Estimates and Forecasts, by material, 2018 - 2030 (Million Units) (USD Million)
- 9.3.5.3. Market Estimates and Forecasts, by product, 2018 - 2030 (Million Units) (USD Million)
- 9.3.5.4. Market Estimates and Forecasts, by application, 2018 - 2030 (Million Units) (USD Million)
- 9.3.6. Canada
- 9.3.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Million Units)
- 9.3.6.2. Market Estimates and Forecasts, by material, 2018 - 2030 (Million Units) (USD Million)
- 9.3.6.3. Market Estimates and Forecasts, by product, 2018 - 2030 (Million Units) (USD Million)
- 9.3.6.4. Market Estimates and Forecasts, by application, 2018 - 2030 (Million Units) (USD Million)
- 9.3.7. Mexico
- 9.3.7.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Million Units)
- 9.3.7.2. Market Estimates and Forecasts, by material, 2018 - 2030 (Million Units) (USD Million)
- 9.3.7.3. Market Estimates and Forecasts, by product, 2018 - 2030 (Million Units) (USD Million)
- 9.3.7.4. Market Estimates and Forecasts, by application, 2018 - 2030 (Million Units) (USD Million)
Chapter 10. Competitive Landscape
- 10.1. Key Players & Recent Developments & Their Impact on the Industry
- 10.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
- 10.3. List of Key Raw Material Distributors and Channel Partners
- 10.4. List of Potential Customers
- 10.5. Company Market Share & Position Analysis, 2023
- 10.6. Company Heat Map Analysis
- 10.7. Company Dashboard Analysis
- 10.8. Strategy Mapping
- 10.8.1. Expansion
- 10.8.2. Collaboration/ Partnerships/ Agreements
- 10.8.3. New Material launches.
- 10.8.4. Mergers & Acquisitions
- 10.8.5. Divestment
- 10.8.6. Research & Development
- 10.8.7. Others
Chapter 11. Company Listing / Profiles
- 11.1. CHEP
- 11.1.1. Company Overview
- 11.1.2. Financial Performance
- 11.1.3. Product Benchmarking
- 11.2. Greystone Logistics
- 11.2.1. Company Overview
- 11.2.2. Financial Performance
- 11.2.3. Product Benchmarking
- 11.3. ORBIS Corporation
- 11.3.1. Company Overview
- 11.3.2. Financial Performance
- 11.3.3. Product Benchmarking
- 11.4. RPP Containers
- 11.4.1. Company Overview
- 11.4.2. Financial Performance
- 11.4.3. Product Benchmarking
- 11.5. GT+plastics
- 11.5.1. Company Overview
- 11.5.2. Financial Performance
- 11.5.3. Product Benchmarking
- 11.6. Rehrig Pacific Company
- 11.6.1. Company Overview
- 11.6.2. Financial Performance
- 11.6.3. Product Benchmarking
- 11.7. Monoflo International
- 11.7.1. Company Overview
- 11.7.2. Financial Performance
- 11.7.3. Product Benchmarking
- 11.8. Cabka Group GmbH
- 11.8.1. Company Overview
- 11.8.2. Financial Performance
- 11.8.3. Product Benchmarking
- 11.9. INDUSTRIAL Pallets
- 11.9.1. Company Overview
- 11.9.2. Financial Performance
- 11.9.3. Product Benchmarking
- 11.10. US Plastic Pallets & Handling
- 11.10.1. Company Overview
- 11.10.2. Financial Performance
- 11.10.3. Product Benchmarking
- 11.11. Buckhorn Inc.
- 11.11.1. Company Overview
- 11.11.2. Financial Performance
- 11.11.3. Product Benchmarking
- 11.12. Custom Built Plastic Pallets
- 11.12.1. Company Overview
- 11.12.2. Financial Performance
- 11.12.3. Product Benchmarking
- 11.13. iGPS
- 11.13.1. Company Overview
- 11.13.2. Financial Performance
- 11.13.3. Product Benchmarking
- 11.14. Decade Products, LLC
- 11.14.1. Company Overview
- 11.14.2. Financial Performance
- 11.14.3. Product Benchmarking
- 11.15. Premier Handling Solutions
- 11.15.1. Company Overview
- 11.15.2. Financial Performance
- 11.15.3. Product Benchmarking
- 11.16. Schoeller Allibert USA
- 11.16.1. Company Overview
- 11.16.2. Financial Performance
- 11.16.3. Product Benchmarking
- 11.17. The Nelson Company
- 11.17.1. Company Overview
- 11.17.2. Financial Performance
- 11.17.3. Product Benchmarking
- 11.18. Paxxal Inc
- 11.18.1. Company Overview
- 11.18.2. Financial Performance
- 11.18.3. Product Benchmarking
- 11.19. GORILLA PALLETS
- 11.19.1. Company Overview
- 11.19.2. Financial Performance
- 11.19.3. Product Benchmarking
- 11.20. BearBoard
- 11.20.1. Company Overview
- 11.20.2. Financial Performance
- 11.20.3. Product Benchmarking
- 11.21. TMF Corporation
- 11.21.1. Company Overview
- 11.21.2. Financial Performance
- 11.21.3. Product Benchmarking
- 11.22. TriEnda Holdings, LLC
- 11.22.1. Company Overview
- 11.22.2. Financial Performance
- 11.22.3. Product Benchmarking
Chapter 12. Strategic Recommendations/ Analyst Perspective