Pallet Corner Boards Market: Overview
The pallet corner boards are the protective packaging strips that provide safety to the products while shipping them in the pails, cans, kegs, drums, and others. The fundamental task of the pallet corner boards is to prevent the pallets from breaking up with the corner boards. Thus pallet corner boards ensure the safety of the products.
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Pallet Corner Boards Market: Facts
In replacement of the requirement for the labor-intensive placement of the pallet corner boards manually the Orion Packaging Systems have come up with new Automatic Corner Board Placer that can add the corner boards to the four edges of the pallet with the help of the robotic systems that works at the speed from 50 to 75 loads/hr.
Pallet Corner Boards Market: Segmentation
The global market for the pallet corner boards is fragmented into its raw material, size, end-user industry, and end-user. Based on the raw material, the global market is segregated into polyethylene terephthalate, plastic, paperboard, HDPE, and others. Based on the size, the market is categorized into more than 8 inches, 5 to 8 inches, 3 to 5 inches, and less than 3 inches. Based on the end-user industry, the market is categorized into furniture, electronics, industrial goods, chemicals & lubricants, automotive, and consumer goods. Based on the end-use, the market is divided into logistics, storage, and others.
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Pallet Corner Boards Market: Growth Factors
Lately, there has been a shift in the focus towards the safety of the consumers thus the product such as the pallet corner boards have an increasing demand. The growth of the logistics and the transport industry has increased the requirement for the pallet corner boards. In the past few years, the logistics industry has developed tremendously thus increasing the demand for the pallet corner boards. Due to the globalization, there are no boundaries for trade thus the distance for the transit has increased which increased the demand for the safety products. This increased demand propelled the demand for the pallet corner boards. The pallet corner boards are used increasingly owing to its recyclability thus being preferred more by the third party logistics providers. The factor that will limit the growth of the market is the availability of the substitute packaging solutions such as the octa-bins.
Pallet Corner Boards Market: Regional Analysis
North America dominates the pallet corner boards market owing to the huge volume of the logistics and export sectors. The reason behind North America enjoying the leading position in the global market is that it is the most developed region along with a well-educated consumer population. North America is followed by Western Europe and Asia Pacific region. The developing economies such as India and China are having a growing requirement for the quality economical products. The Middle East & Africa and Latin America regions will experience a moderate market growth owing to the growth of the transport and logistics sectors in these regions.
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Pallet Corner Boards Market: Competitive Players
The key market players that are involved in the pallet corner boards market include Angleboard Company, ITW Signode Packaging Solutions, Primepac Industrial Limited, Belle Ombre Hoekstukke, and others.
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