Market Introduction:
Pallet wraps are used for wrapping pallets to secure and protect the load and prevent scattering and damage of load placed on pallet. Nowadays, two types of pallet wraps are available in the market. One is conventional, plastic stretch film based pallet wraps, others are modern pallet wraps made up of canvas, mesh and plastic materials. Modern pallet wraps are reusable and are durable as they can be used for years. These pallet wraps are easier to install and remove than film based pallet wraps. Pallet wraps provide protection against exterior elements such as heat, rain, dust, wind and others. For better results, conventional pallet wrap are preferred due to its high holding strength. These pallet wraps are used either with hand or with machine, based on applications. Pallet wraps are available in various standard sizes. Pallet wraps which are made up of stretch films can be used only once. On the other hand, the pallet wraps which are made up of mesh or canvas materials are designed in a way that can be used many times.
Evolution of Pallet Wraps:
It is surprising to see that how far the technology has brought us in the last 50 years. The beginning of delivering goods and products on pallets began in 1960s, when the supermarkets gained popularity over local shops. Rather than delivering to small shopkeepers, the producers started delivering their products to distribution warehouses and hence there was a need for pallets to move goods. During the early 1970s, with the growing demand for pallets, manufactures realized the need to wrap loads with something which provides load stability and prevent damage of load. The ease of applying stretch film resulted in its adoption in many industries. The earliest pallet wrap was made up of polyvinyl chloride (PVC), which was patented by German Scientist Friedrich Heinrich August Klatte in 1913. Later in 1950, that was in huge demand globally. Before being used as a pallet wrap, it was used in many different applications. During 1970s, this PVC based film came out to be the captivating options for pallet wrap, all due to its stretching capability of up to 50%.
The above exhibit represents that how pallet wraps evolved in the last three decades. Pallet wraps which were used during their inception were single layered stretch wraps and then came multilayered pallet wraps which provides extensive protection to the pallet load. Nowadays, pallet wraps are made up of canvas equipped with Velcro straps, gorilla grips, available in custom sizes and colors.
There are three different types of pallet loads, namely, load A, load B, and load C. Pallet wraps made up of canvas and meshed materials may be suitable for specific type of load, but it might not be suitable for the other. It all depends on the type of load and its uniformity over the pallet. The main advantage of using canvas pallet wraps is that they can be used more than one time and they are more durable. Its installation is rather easy then installing film based pallet wraps over the pallets loads.
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Key factor influencing pallet wraps market growth:
Pallet wraps market is expected to rise on the backdrop of growing use of pallets across the industries. Pallet wraps market is driven by how often pallets are used by the end use industries such as food & beverages, pharmaceuticals, textile and other such industries. As much pallet are used, as much pallet wraps are required. This factor drive the pallet wraps market.
Regional Outlook:
North America is expected to lead the global pallet wraps market followed by Asia Pacific region and Europe. North America is a region with some of the world’s leading manufacturers and converters of plastic films and pallet wraps. Asia Pacific is a growing market for pallet wraps, with the presence of various small and medium manufacturers, especially in China. This is expected to drive the global pallet wraps market in the region.
Key Players operating in the pallet wraps market:
Estimated Tier Structure of Companies:
Tier 1 Companies in Pallet Wraps Market:
Including companies with revenue above US$ 30 Mn: Eurofilms Extrusions Ltd.,Gruppo Fabbri Vignola S.p.A.,ERGIS S.A.,Dennisons Plastics Ltd,Hazel 4D,Manuli Stretch S.p.A.,Sigma Stretch Film
Tier 2 Companies Pallet Wraps Market:
Including companies with revenue between US$ 15 Mn to US$ 30 Mn: Hi-Tech Plastics, Inc.,Mariner Packaging Company,American Manufacture Company,AVPack Plastics,Megaplast S.A.,Reusable Logistics Solutions LLC,Qualpack Ltd.,Indigo Industrial Supplies Limited
Tier 3 Companies Pallet Wraps Market:
Including companies with revenue below US$ 10 Mn: Pro Plastic,Elite Plastics Limited,Printed Polythene Ltd.,Polywrap Vic Pty Ltd,Nuova Group Inc.
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Recent Developments in Pallet Wraps Market:
During 1980s, stretch films had emerged as a logistics and packaging staple, but with the introduction of larger containers and pallets, there was increasing need to develop a film that would stretch even more. In addition to that, it also provides durability. Keeping that in mind, the manufacturers in U.S. had started experimenting the development of triple layered film. All three layers have different functions such as, outer for cling, inner for stability and centre layer for providing flexibility. Over the time, this count reached up to 7 to 9 layers by the start of 21st century.
Also, with advancements in Nanotechnology, stretch films are produced with enhanced mechanical property. Pallet wraps produced with nano-layer structure have the advantage of giving pallet wraps a plywood effect, in which layers are not linear, rather they are latticed. It enhances puncture and tear resistance and improves overall performance.
Conclusion:
Overall the pallet wraps market is expected to witness positive growth. This is attributed to the rising usage of pallet across the globe, almost every industry needs pallets. They play important role in the whole distribution systems throughout the supply chain. Pallets need pallet wraps for protection and stability to the load placed on it. Hence the market is projected to witness remarkable growth in the near future.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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