In the last two decades, packaging industry has witnessed radical shifts in its pattern of growth and shift is influenced by the changing tendencies of consumers. These changes in consumer preference demand for transportation of goods utilizing pallets that could prevent damage of product and would ensure stability of load. The demand for pallet wraps are increasing due to its ability to protect against moisture, dust, and rust, which makes them suitable for transport over a long distance.
Pallet wraps are utilized in the wrapping of goods onto the pallet. These wraps are specialized wrapping machines that find use in handling and picking of pallet loads of various weights and of random heights. Packaging products are wrapped firmly so as to place goods in one position firmly over the period of shipment. Rising prominence of these wraps are likely to bolster growth of the global pallet wraps market in the years to come.
Product, material, film, end use, and region are the five important parameters based on which the global pallet wraps market has been categorized. Such dissection of the market comes with the purpose to offer stakeholders with a detailed and clear analysis of the global pallet wraps market.
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Global Pallet Wraps Market: Notable Developments
One of the developments that offer a glimpse of the market dynamics about the global pallet wraps market is mentioned below:
- In 2017, Omni Motus, a mobile pallet stretch wrapping machine, was put on display at AUSPACK exhibition. This mobile packaging system was made to increase the productivity of warehouse.
Some of the prominent organizations in the global pallet wraps market include the below-mentioned:
- Hangzhou Youngsun Intelligent Equipment Co. Ltd
- Robopac SPA
- Phoenix Wrappers, Inc.
- Fromm Packaging Systems, Inc.
- Muller Load Containment Solutions
- Arpac LLC
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Global Pallet Wraps Market: Key Trends
The global pallet wraps market is characterized by the presence of the following restraints, drivers, and opportunities.
Economic Feasibility for Using these Wraps to Bolster its Demand in the Market
The global pallet wraps market is likely to be influenced by the growing popularity of polyvinyl chloride (PVC) for pallet packaging. High stretchability of PVC over a long period of time is expected to bolster its demand in pallet packaging. As big containers and large pellets are becoming increasingly popular, pallet wrap is becoming a logistic and packaging staple for an extensive range of wrapping requirements. In addition to that, augmented dependence of various enterprises on pallet wraps to ensure low cost of operation is expected to drive the use of these wraps. This factor is estimated to support the growth of the global pallet wraps market in the years to come.
High operational cost together with the requirement of skilled labors is likely to act as a setback for the global pallet wraps market in the years to come. Besides, manufacturers are coming up with high volume output and they can afford pallet wrappers. However, it not economically feasible for small-scale manufacturers to opt for pallet wraps as packaging solution.
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Global Pallet Wraps Market: Geographical Analysis
In terms of region, the global pallet wraps market is segmented into the key territories of North America, Latin America, Asia Pacific, Europe, and Middle East and Africa. Of all these regions, it is expected that Asia Pacific will present immensely lucrative growth opportunities for the market over the period of assessment. Such growth of the region is fuelled by booming packaging industry, which paves way for the growth of the pallet wraps market in Asia Pacific.
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