Pallet Corner Boards Market Predicted to Witness Surge in the Near Future

Global Pallet Corner Boards – Market Overview:

Pallet corner boards are protective packaging strips which are used for providing safety while shipping products in cans, pails, drums, kegs, etc. The main purpose of pallet corner boards is to stop the pallets from collapsing with the corner boards. By using pallet corner boards the consumers can able to reduce the chances of costly damage while the product is being transited or being stored. Pallet corner boards are mainly of paperboard and plastic. Out of which paperboard is normally used due to its 100% recyclable and disposable ability. Consumers are always concerned about the safety of their products as a result of which the demand for pallet corner board has increased tremendously in recent few years. Even the logistics company find the paperboard to be the most convenient material for pallet corner board.

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Global Pallet Corner Boards – Market Dynamics:

Recent years have seen a dynamic shift in the product safety by the consumers as a result of this product such as pallet corner boards have seen a substantial growth over the forecast period. Even the transportation and logistics industry has seen a tremendous growth in recent few years which have increased the need for pallet corner boards. The global logistics industry has shown tremendous growth over the past few decades. Globalization has resulted in an elimination of all boundaries of trade. The increased distance of transit has resulted in an increased demand for the safety of the products during transit. This demand is expected to fuel demand for the global pallet corner boards market. The 100% recyclable nature of pallet corner boards is also expected to increase their preference among third party logistics providers (3PLs). Despite the positive outlook, there are some factors that might hamper the growth of the global pallet corner boards market, such as the emergence of alternative packaging solutions such as octa-bins.

Global Pallet Corner Boards Market – Segmentation:

The global pallet corner boards market can be segmented by the raw material type, by size, end use and by the application.

On the basis of raw material type, the global pallet corner boards market is segmented into

  • Paperboard
  • Plastic
  • HDPE
  • Polyethylene Terephthalate (PET)
  • Others

On the basis of size, the global pallet corner boards market is segmented into –

  • Less than 3 inch
  • 3 to 5 inch
  • 5 to 8 inch
  • More than 8 inch

On the basis of end use, the global pallet corner boards market is segmented into –

  • Chemicals & Lubricants
  • Furniture
  • Automotive
  • Electronics
  • Consumer Goods
  • Industrial Goods

On the basis of end use, the global pallet corner boards market is segmented into –

  • Storage
  • Logistics
  • Others

Global Pallet Corner Boards Market – Geographical Outlook:

The global pallet corner boards market can be divided into seven major regions which are as follows –

  • North America
  • Asia Pacific Excluding Japan
  • Western Europe
  • Middle East & Africa
  • Latin America
  • Eastern Europe
  • Japan

Attributed to the large volume of export & logistics sector, North America leads the global pallet corner boards market. Being the most developed of all with a well-informed consumer population, North America is anticipated to enjoy leading position in the global pallet corner boards market, followed by Western Europe and APEJ. Emerging economies, such as China and India represent markets that have witnessed growing need for economical products that also promise quality. India, for example, is looking to double the size of its logistics sector in the next five years, and therefore, growth of corrugated pallets market looks promising in the region. Middle East & Africa and Latin America is expected to witness above average growth for pallet corner boards due to the increase in logistics and transport industry in these regions.

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Global Pallet Corner Boards Market – Key players:

Few of the key players in the pallet corner boards market are Primepac Industrial Limited, Angleboard Company, Belle Ombre Hoekstukke, Itw Signode Packaging Solutions, etc.

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