What is Driving Growth for the Wooden Pallets Market?
19 Sep 2019
Recent industry reports have shone a light on the wooden pallet market as one which is experiencing noteworthy growth. In inexplicably uncertain times for the logistics industry, this forecasted growth is undeniably promising, however it has led many in the industry looking for more detail on exactly what is driving this impressive growth.
Increased Construction Activity
It is reported that the housing sector has been one of the most significant factors that is driving growth. In recent years we have seen a sharp rise in the volume of construction activity taking place. This is likely in line with the growing government initiatives for affordable housing, as well as the increased interest in property development and refurbishment as a career. This has brought with it increased demand for additional wooden pallets in the delivery and shipping of construction materials, fixtures and fittings.
Import & Export Growth
More broadly speaking, the packaging materials market as a whole has experienced significant growth which has directly affected the pallet market. The increased demand in the packaging materials market has been linked with rising import and export activity across key industries such as pharmaceuticals and food and beverage. Both of these industries are major users of many types of packaging.
Growing innovation in the pallet sector is the final factor which has been identified in affecting the industry growth. Through from bespoke wooden pallets to smart pallets – innovation is responsible for some of the anticipated rises in the coming years.