Composite Pallet Market – Introduction
Pallet is a form of tertiary wrapping, a flat structure used as a base for unitization of goods in the value chain. Moreover, composite pallet is a rigid, portable, horizontal platform that is used as a base for stacking, assembling, storing, transporting, and handling goods as a unit load and is often equipped with superstructure. Additionally, the superstructure is an assembly, which is connected to the secondary base of the pallet.
Composite Pallet Market – Competitive Landscape
Founded in 1948, Pfeifer Group is headquartered in Fabrikstrasse, Switzerland, Europe. The company manufactures and distributes a wide range of wood, and provides plywood, formwork girders, lumber, swan timber, pallet blocks, solid wood panels, and wood briquettes. In 2016, the company acquired Holzindustrie Chanovice s.r.o., a timber industry from its parent company, the Haas Group. The company has its production sites in Europe in Imst, Kundl, Unterbernbach, Uelzen, Lauterbach, Schlitz, Trhanov, and Chanovice.
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Bastian Solutions, Inc.
Incorporated in 1952, Bastian Solutions, Inc. is based in Indianapolis, Indiana, the U.S. The company designs, produce, and sells material handling equipment as well as information systems connected with proven operational strategies. The company offers conveyors, lift, load, and work positioners, carts, dollies, trucks, and moving equipment, bins, totes, and pallets, workstations & workbenches, safety equipment & ergonomic matting, casters, storage, shelving, and racking, etc. Moreover, the company provides various technologies, such as order fulfillment, sortation, picking technologies, WMS & WCS, automated guided vehicles, and mobile robotics. The company provides it products and services to various industries, including industrial distribution, manufacturing, aerospace, automotive, consumer goods, food & beverages, pharmaceutical, retail & apparel, and third party logistics. The company has presence in North America, Europe, Asia Pacific, and Latin America.
Based in Hong Kong, China, LOSCAM has over 77 years of experience in designing and manufacturing returnable package handling solutions and equipment. The company offers pallets, cages, collars & lids, crates, bins, IBC, and transporting, distributing, and retailing products. It provides various solutions to its clients in retail, hardware, consumer products, automotive, agriculture, horticulture, and industrial sectors, globally. The company has offices in more than 23 countries across the Asia Pacific region.
Major companies operating in the global composite pallet market include Flo-Pallet Inc., Shanghai Seven Trust Industry Co., ltd, RM2. International, LOSCAM, Schoeller Allibert, CABKA Group, German Plant Experience Pty Ltd (RHINO), Pfeifer Group, Bastian Solutions, Inc., and Millwood, Inc.
The global composite pallets market is fragmented, owing to the presence of various composite and wooden composite pallet manufacturers, pallet pooling firms, pallet recycling specialists, and pallet management companies. The level of competition between the payers in the market is high, and producers are focusing on introducing new technologies and providing personalized products to customers. Moreover, a number of payers are adopting strategies, such as mergers, acquisitions, and partnerships to gain competitive edge in the global market.
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Global Composite Pallet Market – Driver
Rising Consumer Spending on Infrastructural Activities
The global composite pallet market is anticipated to witness considerable growth during the forecast year due to rise in consumer expenditure on infrastructural activities and recovery of various industries, such as housing and construction. Moreover, improving global economy is driving consumer spending on construction and housing activities, which is likely to boost the demand for composite pallets in the near future.
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