As shipping becomes increasingly prevalent in the global marketplace, so too does the need for effective shipping methods. Many businesses are turning to pallet covers to help protect their assets while in transit. Not surprisingly, the use of pallet covers in the global market is expected to rapidly grow over the next five years.
What Are Pallet Covers?
Pallet covers are used to protect goods while being shipped. At Protek, we offer SureTemp Insulating Pallet Covers, which are the most economical pallet covers available. They minimize temperature excursions and maintain cold chain for Air & LTL shipments. The pallet covers, which are made of a metalized aluminum film laminated with polyethylene bubbles, are light weight and disposable. They are ideal for all shipments, especially those containing floral, food/beverage, electronics, industrial chemicals/paints, or pharmaceutical products. It’s important to choose a quality pallet cover, ensuring that your shipment arrives in its anticipated state, helping you avoid valuable losses and write-offs.
The Study
Technavio, a global research and advisory company, recently released a study showing that the market for global pallet covers is expected to see a compound annual growth rate increase of 6% from 2017-2021.
Sharan Raj, a lead analyst on the study, stated, “The high growth in the pallet covers market is due to the increase in manufacturing and transportation activities at a global level. Also, trends such as advertisement printed pallet covers and development of insulated thermal packaging covers, are further driving the demand for pallet covers. Macroeconomic factors, such as growth in the global GDP and rising per-capita income of the consumers, are also playing a vital role in the growth of the market.”
The study also says that while the food industry is currently witnessing growth, much of the predicted growth is expected to come from the pharmaceutical industry.
Factors Driving Growth
The study found that there are four main factors currently shaping the transportation industry, leading to the expected growth of pallet covers. They are
- Bioplastic Packaging – Companies are constantly searching for packaging methods that are cheap and effective. Conventional plastic packaging and bioplastic packaging materials are currently in an intense competition to gain ground within various shipping industries.
- Export and Import – As the global marketplace expands, so too does the increase in trade activities between countries. Countries have increased the liberalization of trade while increasing their import and export activities.
- Professional Logistics – Having shipments that arrive safely, in the shortest amount of time possible, is driving competition within the shipping industry. There is an increased demand for professional logistic services that provide high-end logistics and supply-chain solutions.
- Next-Generation Packaging – The ways in which products are packed has changed and will continue to do so as technology impacts packing techniques.
