South Korea Plastic Pallets Market Size & Outlook
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South Korea plastic pallets market highlights
- The South Korea plastic pallets market generated a revenue of USD 235.9 million in 2023 and is expected to reach USD 355.5 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6% from 2024 to 2030.
- In terms of segment, high-density polyethylene was the largest revenue generating material in 2023.
- Polypropylene is the most lucrative material segment registering the fastest growth during the forecast period.
Plastic pallets market data book summary
| Market revenue in 2023 | USD 235.9 million |
| Market revenue in 2030 | USD 355.5 million |
| Growth rate | 6% (CAGR from 2023 to 2030) |
| Largest segment | High-density polyethylene |
| Fastest growing segment | Polypropylene |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | High-Density Polyethylene, Low-Density Polyethylene, Polypropylene |
| Key market players worldwide | Allstate Corp, Cabka, ORBIS Corp., Rehrig Pacific Company, Monoflo International, Polymer Solutions International, Perfect Pallets, TranPak |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.1% of the global plastic pallets market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China plastic pallets market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 734.1 million by 2030.
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Plastic Pallets Market Scope
Plastic Pallets Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| TranPak | View profile | 11-50 | Madera, California, United States, North America | https://www.tranpak.com/ |
| Perfect Pallets | View profile | 11-50 | Indianapolis, Indiana, United States, North America | https://perfectpallets.com |
| Polymer Solutions International | View profile | 11-50 | Newtown Square, Pennsylvania, United States, North America | https://prostack.com |
| Monoflo International | View profile | 251-500 | Winchester, Virginia, United States, North America | http://miworldwide.com |
| Rehrig Pacific Company | View profile | 5001-10000 | Los Angeles, California, United States, North America | http://www.rehrigpacific.com |
| Cabka | View profile | 501-1000 | Berlin, Berlin, Germany, Europe | https://cabka.com/de/de/m/kunststoffpaletten/ |
| ORBIS Corp. | View profile | 1001-5000 | Oconomowoc, Wisconsin, United States, North America | http://www.orbiscorporation.com |
| Allstate Corp | View profile | 53400 | 3100 Sanders Road, Northbrook, IL, United States, 60062 | https://www.allstate.com |
South Korea plastic pallets market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to plastic pallets market will help companies and investors design strategic landscapes.
High-density polyethylene was the largest segment with a revenue share of 67.02% in 2023. Horizon Databook has segmented the South Korea plastic pallets market based on high-density polyethylene, low-density polyethylene, polypropylene covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea is a leading exporter of integrated circuits, refined petroleum products, automobiles, and automotive parts, with trade partners such as China, Japan, the U.S., Saudi Arabia, and Germany. High exports of electronic items and gadgets to developing economies to meet the demand from the growing tech-savvy population are anticipated to drive the demand for plastic Pallet.
Changing orientation of the packaging industry from supplier-oriented to consumer-oriented is expected to drive the demand for plastic Pallet as consumers are giving more preference to reusable and durable packaging.
Furthermore, short of automotive electronic chips has been one of the factors affecting automotive production in the country. Therefore, the country has been continuously focusing on supporting automotive industry.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea plastic pallets market , including forecasts for subscribers. This country databook contains high-level insights into South Korea plastic pallets market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea plastic pallets market size, by material, 2018-2030 (US$M)
South Korea Plastic Pallets Market Outlook Share, 2023 & 2030 (US$M)
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