Plastic Pallets Market Size Worth $10.4 Billion By 2028 | CAGR: 5.6%: Grand View Research, Inc.
SAN FRANCISCO, March 17, 2021 /PRNewswire/ -- The global plastic pallets market size is expected to reach
USD 10.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a
CAGR of 5.6% from 2021 to 2028. Increasing demand for robust, long-term, contamination-free, and eco-friendly packaging, which accounts for a low cost per trip in the longer term as compared to expendable packaging coupled with a steady expansion of end-use industries is expected to fuel the growth to the market.
Plastic pallets are typically made from robust materials, including polypropylene (PP) and high-density polyethylene (HDPE), and are primarily intended for multiple trips rather than a single trip. Plastic pallets are made from virgin and recycled plastic resins. Virgin resin-based skids offer superior performances. However, recycled resin-based pallets are less expensive and more sustainable, due to which they are generating considerable traction within the market.