re GLGI($.48): here's a bull case for plastic pallets...
Just saw this on one of my news feeds, FWIW.
Global Plastic Pallets Market 2018-2022 - Reduction of Carbon Footprint Fuelling the Market Growth
DUBLIN, Jan. 17, 2018 /PRNewswire/ --
The "Global Plastic Pallets Market 2018-2022" report has been added to ResearchAndMarkets.com's offering.
The global plastic pallets market to grow at a CAGR of 7.70% during the period 2018-2022.
Global Plastic Pallets Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the revenue generated from the sales of plastic pallets.
According to the report, one of the major drivers for this market is increasing demand for safe and hygienic pallets. Plastic pallets are extensively used in grocery, food and beverage, pharmaceutical, and e-commerce industries for several operations. Features such as hygienic, easily sanitized, non-porous, and ease of using for safe movement and storage of products, drive the increased use of plastic pallets. As plastic pallets are made up of non-porous materials, they do not absorb moisture which makes them suitable for food chain supply. Plastic pallets provide features such as safety, protection from contamination, and increased operational efficiency, due to which they are increasingly demanded in several industries.
The increased use of palletized storage and transportation are the key considerations that are fueling the demand for pallets in transit packaging by different end-user industries. The growing need for efficient and safe storage and transportation is driving the global pallets market, especially for the end-user industries, such as food and beverage, chemicals, cement, pharmaceuticals, oil and gas, and automotive industries.
The latest trend gaining momentum in the market is reduction of carbon footprint. Plastic pallets are environment-friendly as they are made of HDPE or PP, unlike wooden pallets that are made up of lumber and is a non-renewable resource. The main reason for using eco-friendly plastic pallets is to reduce the global carbon footprint. Moreover, plastic pallets are recyclable and are extensively used to transport material due to their high durability. These advantages drive the demand for plastic pallets in the end-user industries.
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