New York, United States , May 03, 2023 (GLOBE NEWSWIRE) -- The Global Thermal Pallet Covers System Market Size is to grow from USD 5.74 Billion in 2022 to USD 13.84 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period.
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Thermal pallet covers system is a solution used to protect temperature-sensitive goods during transportation and storage. These covers are made from insulating materials such as reflective foil or bubble wrap and are designed to maintain the desired temperature range, preventing heat or cold loss. They are typically used on standard pallets and can be reusable or disposable. Thermal pallet covers are commonly used in industries such as pharmaceuticals, food and beverages, and chemicals, where maintaining product integrity is crucial. They are cost-effective and efficient, helping to prevent spoilage and reduce product wastage. Thermal pallet covers system is essential for businesses that require temperature-controlled logistics to ensure the safe and efficient transportation of their goods.
“Companies Covered: Sealed Air Corporation, DuPont de Nemours, Inc., Tempack Packaging Solutions, S.L., TP Solutions International Ltd., InsulTote, Inc., Cryopak Industries Inc., Pelican BioThermal LLC, Cold Chain Technologies, LLC, Sofrigam Group, Davis Core & Pad Co. Inc., Softbox Systems Ltd., Envirotainer AB, Nordic Cold Chain Solutions LLC, American Aerogel Corporation, Pallet-Wrap Ltd. And among others”.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on "Global Thermal Pallet Covers System Market Size, Share, and COVID-19 Impact Analysis, By Type (Standard Pallet and Airfreight Pallet), By Usage (Single-Use and Multiple Use), End-Use Industry (Pharmaceutical and Medical, Food & Beverages, Chemicals, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032." Get Detailed Report Description Here:
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Pharmaceutical and medical is expected to grow at a higher CAGR of 10.5% over the forecast period
The global thermal pallet covers system market is categorized based on the end-user industry. The pharmaceutical and medical industry is experiencing rapid growth due to increasing global demand for healthcare products and services. Factors such as advancements in medical research, aging populations, rising prevalence of chronic diseases, and increased healthcare spending are driving the growth of this industry. Additionally, the ongoing global pandemic has further highlighted the importance of pharmaceuticals and medical supplies, leading to increased investment in research, development, and production of vaccines, therapies, and medical devices. As a result, the pharmaceutical and medical industry is expected to continue to be one of the fastest-growing industries, with significant opportunities for innovation and expansion in the foreseeable future.
The multiple-uses segment dominated the market with more than 53.4% revenue share in 2022
Based on the usage, the global thermal pallet covers system market is segmented into single-use and multiple-use. The multiple-uses category accounted for the largest share, approximately xx%, in the thermal pallet covers system market in 2022. This is due to its versatility and widespread application across various industries. This segment offers reusable and multi-purpose pallet covers that are suitable for diverse temperature-sensitive shipments, including pharmaceuticals, food and beverages, chemicals, electronics, and more. The ability to reuse these pallet covers multiple times not only reduces operational costs but also promotes sustainability and environmental conservation. With its ability to cater to different industries and provide cost-effective solutions for temperature-controlled shipping needs, the multiple-uses segment has gained significant traction in the market, resulting in its dominant position.
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Asia-Pacific is predicted to grow at CAGR of 11.6% during the forecast period
Based on region, the Asia-Pacific region is witnessing remarkable growth in the thermal pallet covers system market due to various factors. The region's robust economic growth, expanding pharmaceutical, food and beverage, and chemical industries, and increasing awareness of temperature-controlled logistics are driving the demand for thermal pallet covers. Moreover, the rising adoption of stringent regulations and standards for the transportation of temperature-sensitive goods is further fueling market growth. Additionally, the growing emphasis on sustainable packaging solutions and the need for reusable thermal pallet covers are driving the demand in the Asia-Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global thermal pallet covers system market include Sealed Air Corporation, DuPont de Nemours, Inc., Tempack Packaging Solutions, S.L., TP Solutions International Ltd., InsulTote, Inc., Cryopak Industries Inc., Pelican BioThermal LLC, Cold Chain Technologies, LLC, Sofrigam Group, Davis Core & Pad Co. Inc., Softbox Systems Ltd., Envirotainer AB, Nordic Cold Chain Solutions LLC, American Aerogel Corporation, and Pallet-Wrap Ltd.
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