Press release
Pallet Bands Market size and Key Trends in terms of volume and value 2018-2028
In the packaging industry, there are various packaging solutions that are developed to provide spill-proof packaging. Pallet bands form an easy-to-use, secure, and cost-economical pallet load-unitizing solution, generally used in the free movement of finished bulk products across warehouses and retail outlets. While the pallet bundling process through shrink wrapping often takes approximately one minute, an employee takes just a second to apply a rubber or silicon band to unitize a pallet load.
Pallet bands, also referred to as mover bands, can be applied or removed in seconds, and hence, save the wastage of time in packaging operations. Also, the high adoption of bulk containers for the continuous and easy movement of products among end-user industrial companies is expected to lead to a spur in the demand for pallet bands over the forecast period.
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Global Pallet Bands Market: Dynamics
A rise in concerns regarding the damage of finished bulk products during shipping and transportation across key end-use industries, such as chemicals & petrochemicals, electronic goods, construction material, food & beverages, etc., is largely expected to drive the pallet bands market over the coming decade.
The market for pallet bands in the Asia Pacific region is expected to witness the most lucrative opportunities, owing to their high application in the industrial as well as retail sectors – ready packaging. Moreover, countries like India, China, Vietnam, etc., in attribution to the growing industrialization, are estimated to push the pallet bands market in this region.
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Global Pallet Bands Market: Regional Outlook
The global market for pallet bands is estimated to be controlled by North America as well as some developed countries of Western Europe. This scenario is attributed to the establishment of various multi-national companies that deal in chemical, pharmaceutical, and food & beverage industries across the region. The Latin American region is expected to display an above-average growth in the pallet bands market.
Middle East & African countries are projected to deliver untapped growth opportunities, thus leading to the extensive demand of pallet bands in chemical & petrochemical as well as construction allied industries, thus serving the demand for pallet bands in the regional markets.
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