Thermal Pallet Covers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Pharmaceutical, Food & Beverage, Chemicals, and Others)

Publication Month: Jul 2021 | Report Code: TIPRE00023718 | No. of Pages: 116 | Category: Chemicals and Materials | Status: Published

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The thermal pallet covers market was valued at US$ 4,148.15 million in 2020 and is projected to reach US$ 10,469.73 million by 2028; it is expected to grow at a CAGR of 12.5% from 2021 to 2028.

 

Thermal pallet covers safeguard temperature-sensitive goods from the effects of harsh weather and decrease the risk of excursions. The heat transmission from the environment to a product can be slowed by using thermal pallet covers. The ability of the covers to reflect heat and reduce moisture content inside aids in extending the time it takes for the product mass to lose its warmth. They help maintain the ambient temperature of goods in transit and protect the temperature-sensitive products from small temperature spikes that can occur during loading and unloading, cross docking, and warehousing and packaging. Growing demand from various application segments, such as pharmaceuticals, food & beverage, and chemicals, is one of the key factors driving the growth of the thermal pallet covers market. Moreover, the rapid growth of shipping and logistics industry is projected to propel demand for thermal pallet covers in the coming years.

 

In 2020, Asia-Pacific held the largest share in the thermal pallet covers market. However, North America is expected to register the highest CAGR during the forecast period. North America largely supports the market growth through effective manufacturing and trade policies. The accelerated growth of the food & beverage industry in the region is anticipated to drive the demand for the thermal pallet covers in the coming years since the covers are highly utilized while transporting food and beverage products. According to the US Department of Agriculture, food & beverage, agriculture, and other related sectors contributed $1.109 trillion to the US GDP in 2020, a 5.2% share. With a 13% share, the food & beverage sector ranked third behind housing and transportation sectors among the expenditures of the average American household in 2020. Also, the increasing demand for damage-free packaging, especially in the food & beverage sector, and the presence of prominent market players in North America are anticipated to  drive the market growth in the region during the forecast period. Mettcover is offering 15+ varieties in 100+ sizes of thermal pallet cover across this region. A few products such as Mettcover EX900M, Mettcover EX800M, Mettcover EX700M, and Mettcover EX300M are quite famous in North America.

 

The COVID-19 pandemic has drastically affected the manufacturing industries in terms of operational efficiency owing to many factors such as extended lockdowns across different regions, restrictions on international trades, shutdown of manufacturing units, travel bans, disruptions in supply chain, and shortage in the supply of raw materials. The pandemic had a direct negative impact on logistics companies that deal with the movement, storage, and flow of goods. Logistics companies engaged with industries, such as automobile, electronics, medicines, medical equipment and supplies, and consumer items, are among adversely affected companies across the world. Ocean freight, land freight, and air freight recorded weak demand leading to slow operations and losses. However, growing demand for pharmaceutical products especially medicines and drugs owing to the COVID-19 outbreak is driving the demand for thermal pallet covers from the pharmaceutical industry. Businesses are resuming as most of the countries are easing previously imposed restrictions. Moreover, the introduction of COVID-19 vaccines by governments of countries has eased out the situation leading to rise in business activities across the world. Moreover, logistics companies involved in the transportation of vaccines are among the key consumers of thermal pallet cover as the vaccines are temperature sensitive and require ambient atmospheres for its storage. Thus, this factor is significantly boosting the market growth. The pandemic has spurred the development of the e-commerce industry. The e-commerce industry has significantly contributed to the revival of logistics operations, which, in turn, is expected to positively impact the growth of the thermal pallet covers market in the forthcoming years. Furthermore, rising demand for essential food products would propel the market growth during the forecast period. The COVID-19 pandemic had a severe impact on the thermal pallet covers market during the initial phase. However, the market is expected to gain a significant growth in the coming years.

 

Thermal Pallet Covers Market Geographic Analysis

 

Thermal Pallet Covers Market Geographic Analysis

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Market Insights

Increasing Benefits of Using Thermal Pallet Covers in Logistics Services

Thermal pallet covers protect temperature-sensitive products from extreme weather conditions and limit the risk of excursions. Time delays and temperature changes are worst issues that can be faced during supply chain activities. Customers can request remuneration or a replacement shipment if the logistics service providers fail to supply temperature-controlled shipments. The cost of replacement can be thousands of dollars. In addition, it may hamper the reputation of an organization as well as lead to client dissatisfaction. However, thermal pallet covers provide high-performance insulation and thermal protection for freight transported by all transportation modes, such as land, air, and water. The covers keep temperature-sensitive products safe and in compliance with the label claims for the duration of their transit. Thermal pallet cover is a more cost-effective solution for logistics companies than other insulation methods, such as refrigerated trucking. The covers are also convenient and reusable, and they fit to various shipment sizes, which makes them flexible. Additionally, thermal pallet covers protect the temperature-sensitive products from small temperature excursions that can occur during loading and unloading, cross docking, and even the most demanding transit conditions. Thus, the numerous benefits of using thermal pallet covers in logistics services are driving the growth of the thermal pallet covers market.

 

Application Insights

Based on application, the thermal pallet covers market is segmented into pharmaceutical, food & beverages, chemical, and others. The food & beverages segment led the market with the largest share in 2020. The thermal pallet covers are extremely popular in the food & beverage industry. Customers return shipments to a manufacturer if the food gets spoiled during transportation, which can cause significant loss to manufacturer. The use of thermal pallet covers helps avoid this type of loss. Packaged salads; bakery, confectionery, and dairy products; meat and seafood; and sauces, dips, and dressing items require specific handling in transit to maintain their freshness. Thus, thermal pallet covers are preferred by most food processing industries due to their benefits such as being exceptionally space-efficient, puncture-resistant, protection against cold and heat, and easy to use. As the products are well protected during transportation, the chances of damage significantly decrease, which is financially beneficial for manufacturers. With all the added benefits, thermal pallet covers can confirm to be very profitable to businesses in many food & beverage industries.

 

Thermal Pallet Covers Market, by Application – 2020 and 2028

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Strategic Insights

A few key players operating in the thermal pallet covers market are CargoWise Solutions Limited, QProducts & Services, Insulated Products Corporation, Protek Cargo, ECEPLAST, PAC Worldwide Corporation, TP Solutions, ECOCOOL, Softbox, and Nordic Cold Chain Solutions. Major players in the market adopt strategies such as mergers and acquisitions and product launches to increase their geographical presence and consumer base in North America and South America.

 

Report Spotlights

  • Progressive industry trends in the thermal pallet covers market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the thermal pallet covers market from 2017 to 2028
  • Estimation of the demand for thermal pallet covers across various industries
  • PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
  • Recent developments to understand the competitive market scenario and the demand for thermal pallet covers   
  • Market trends and outlook coupled with factors driving and restraining the growth of the thermal pallet covers market
  • Decision-making process by understanding strategies that underpin commercial interest with regard to thermal pallet covers market growth
  • Thermal pallet covers market size at various nodes of market
  • Detailed overview and segmentation of the thermal pallet covers market as well as its dynamics in the industry
  • Thermal pallet covers market size in various regions with promising growth opportunities

Thermal Pallet Covers Market, by Application

  • Pharmaceutical
  • Food & Beverages
  • Chemical
  • Others

Company Profiles

  • CargoWise Solutions Limited
  • QProducts & Services
  • Insulated Products Corporation
  • Protek Cargo
  • ECEPLAST
  • PAC Worldwide Corporation
  • TP Solutions
  • ECOCOOL
  • Softbox
  • Nordic Cold Chain Solutions

1.             Introduction

1.1       Study Scope

1.2       The Insight Partners Research Report Guidance

1.3       Market Segmentation

2.             Key Takeaways

3.             Research Methodology

3.1       Scope of the Study

3.2       Research Methodology

3.2.1        Data Collection:

3.2.2        Primary Interviews:

3.2.3        Hypothesis formulation:

3.2.4        Macro-economic factor analysis:

3.2.5        Developing base number:

3.2.6        Data Triangulation:

3.2.7        Country level data:

4.             Thermal Pallet Covers Market Landscape

4.1       Market Overview

4.2       Porter’s Five Forces Analysis

4.3       Expert Opinion

4.4       Ecosystem Analysis

5.             Thermal Pallet Covers Market – Key Market Dynamics

5.1       Market Drivers

5.1.1        Growing Demand from Various End User Industries

5.1.2        Increasing Benefits of Using Thermal Pallet Covers in Logistics Services

5.2       Restraints

5.2.1        Environmental Impacts of Single-Use Thermal Pallet Covers

5.3       Market Opportunities

5.3.1        Growing Product Innovation and Research & Development Activities

5.4       Future Trend

5.4.1        Emerging Trend of Bio-Based And Recyclable Thermal Pallet Covers

5.5       Impact Analysis of Drivers and Restraints

6.             Thermal Pallet Covers – Global Market Analysis

6.1       Thermal Pallet Covers Market Overview

6.2       Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

6.3       Market Positioning – Global Market Players

7.             Thermal Pallet Covers Market Analysis – By Application

7.1       Overview

7.2       Thermal Pallet Covers Market, By Application (2020 and 2028)

7.3       Pharmaceutical

7.3.1        Overview

7.3.2        Pharmaceutical: Thermal Pallet Covers Market – Revenue and Forecast to 2028 (US$ Million)

7.4       Food and Beverages

7.4.1        Overview

7.4.2        Food and Beverages: Thermal Pallet Covers Market – Revenue and Forecast to 2028 (US$ Million)

7.5       Chemical

7.5.1        Overview

7.5.2        Chemical: Thermal Pallet Covers Market – Revenue and Forecast to 2028 (US$ Million)

7.6       Others

7.6.1        Overview

7.6.2        Others: Thermal Pallet Covers Market – Revenue and Forecast to 2028 (US$ Million)

8.             Thermal Pallet Covers Market – Geographic Analysis

8.1       Overview

8.2       North America: Thermal Pallet Covers Market

8.2.1        North America: Thermal Pallet Covers Market – Revenue and Forecast to 2028(USD Million)

8.2.2        North America: Thermal Pallet Covers Market, by Application

8.2.3        North America: Thermal Pallet Covers Market, by Key Country

8.2.3.1      US: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

8.2.3.1.1       US: Thermal Pallet Covers Market, by Application

8.2.3.2      Canada: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

8.2.3.2.1       Canada: Thermal Pallet Covers Market, by Application

8.2.3.3      Mexico: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

8.2.3.3.1       Mexico: Thermal Pallet Covers Market, by Application

8.3       Europe: Thermal Pallet Covers Market

8.3.1        Europe: Thermal Pallet Covers Market – Revenue and Forecast to 2028(USD Million)

8.3.2        Europe: Thermal Pallet Covers Market, by Application

8.3.3        Europe: Thermal Pallet Covers Market, by Key Country

8.3.3.1      Germany: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

8.3.3.1.1       Germany: Thermal Pallet Covers Market, by Application

8.3.3.2      France: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

8.3.3.2.1       France: Thermal Pallet Covers Market, by Application

8.3.3.3      Italy: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

8.3.3.3.1       Italy: Thermal Pallet Covers Market, by Application

8.3.3.4      UK: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

8.3.3.4.1       UK: Thermal Pallet Covers Market, by Application

8.3.3.5      Russia: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

8.3.3.5.1       Russia: Thermal Pallet Covers Market, by Application

8.3.3.6      Rest of Europe: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

8.3.3.6.1       Rest of Europe: Thermal Pallet Covers Market, by Application

8.4       Asia Pacific: Thermal Pallet Covers Market

8.4.1        Asia Pacific: Thermal Pallet Covers Market – Revenue and Forecast to 2028(USD Million)

8.4.2        Asia Pacific: Thermal Pallet Covers Market, by Application

8.4.3        Asia Pacific: Thermal Pallet Covers Market, by Key Country

8.4.3.1      Australia: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

8.4.3.1.1       Australia: Thermal Pallet Covers Market, by Application

8.4.3.2      China: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

8.4.3.2.1       China: Thermal Pallet Covers Market, by Application

8.4.3.3      Japan: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

8.4.3.3.1       Japan: Thermal Pallet Covers Market, by Application

8.4.3.4      India: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

8.4.3.4.1       India: Thermal Pallet Covers Market, by Application

8.4.3.5      South Korea: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

8.4.3.5.1       South Korea: Thermal Pallet Covers Market, by Application

8.4.3.6      Rest of Asia Pacific: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

8.4.3.6.1       Rest of Asia Pacific: Thermal Pallet Covers Market, by Application

8.5       MEA: Thermal Pallet Covers Market

8.5.1        MEA: Thermal Pallet Covers Market – Revenue and Forecast to 2028 (USD million)

8.5.2        MEA: Thermal Pallet Covers Market, by Application

8.5.3        MEA: Thermal Pallet Covers Market, by Key Country

8.5.3.1      South Africa: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD million)

8.5.3.1.1       South Africa: Thermal Pallet Covers Market, by Application

8.5.3.2      Saudi Arabia: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD million)

8.5.3.2.1       Saudi Arabia: Thermal Pallet Covers Market, by Application

8.5.3.3      UAE: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD million)

8.5.3.3.1       UAE: Thermal Pallet Covers Market, by Application

8.5.3.4      Rest of MEA: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD million)

8.5.3.4.1       Rest of MEA: Thermal Pallet Covers Market, by Application

8.6       South America: Thermal Pallet Covers Market

8.6.1        South America: Thermal Pallet Covers Market –Revenue and Forecast to 2028(USD million)

8.6.2        South America: Thermal Pallet Covers Market, by Application

8.6.3        South America: Thermal Pallet Covers Market, by Key Country

8.6.3.1      Brazil: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD million)

8.6.3.1.1       Brazil: Thermal Pallet Covers Market, by Application

8.6.3.2      Argentina: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD million)

8.6.3.2.1       Argentina: Thermal Pallet Covers Market, by Application

8.6.3.3      Rest of South America: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD million)

8.6.3.3.1       Rest of South America: Thermal Pallet Covers Market, by Application

9.             Impact of COVID-19 Pandemic on Global Thermal Pallet Covers Market

9.1       Overview

9.2       North America: Impact Assessment of COVID-19 Pandemic

9.3       Europe: Impact Assessment of COVID-19 Pandemic

9.1       Asia-Pacific: Impact Assessment of COVID-19 Pandemic

9.2       Middle East and Africa: Impact Assessment of COVID-19 Pandemic

9.3       South America: Impact Assessment of COVID-19 Pandemic

10.          Company Profiles

10.1    CargoWise Solutions Limited

10.1.1     Key Facts

10.1.2     Business Description

10.1.3     Products and Services

10.1.4     Financial Overview

10.1.5     SWOT Analysis

10.1.6     Key Developments

10.2    QProducts & Services

10.2.1     Key Facts

10.2.2     Business Description

10.2.3     Products and Services

10.2.4     Financial Overview

10.2.5     SWOT Analysis

10.2.6     Key Developments

10.3    Insulated Products Corporation

10.3.1     Key Facts

10.3.2     Business Description

10.3.3     Products and Services

10.3.4     Financial Overview

10.3.5     SWOT Analysis

10.3.6     Key Developments

10.4    PROTEK CARGO

10.4.1     Key Facts

10.4.2     Business Description

10.4.3     Products and Services

10.4.4     Financial Overview

10.4.5     SWOT Analysis

10.4.6     Key Developments

10.5    ECEPLAST

10.5.1     Key Facts

10.5.2     Business Description

10.5.3     Products and Services

10.5.4     Financial Overview

10.5.5     SWOT Analysis

10.5.6     Key Developments

10.6    PAC Worldwide Corporation

10.6.1     Key Facts

10.6.2     Business Description

10.6.3     Products and Services

10.6.4     Financial Overview

10.6.5     SWOT Analysis

10.6.6     Key Developments

10.7    TP Solutions

10.7.1     Key Facts

10.7.2     Business Description

10.7.3     Products and Services

10.7.4     Financial Overview

10.7.5     SWOT Analysis

10.7.6     Key Developments

10.8    ECOCOOL

10.8.1     Key Facts

10.8.2     Business Description

10.8.3     Products and Services

10.8.4     Financial Overview

10.8.5     SWOT Analysis

10.8.6     Key Developments

10.9    Softbox Systems Ltd.

10.9.1     Key Facts

10.9.2     Business Description

10.9.3     Products and Services

10.9.4     Financial Overview

10.9.5     SWOT Analysis

10.9.6     Key Developments

10.10 Nordic Cold Chain Solutions

10.10.1   Key Facts

10.10.2   Business Description

10.10.3   Products and Services

10.10.4   Financial Overview

10.10.5   SWOT Analysis

10.10.6   Key Developments

11.          Appendix

11.1    About The Insight Partners

11.2    Glossary of Terms


LIST OF TABLES

Table 1.             Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Table 2.             North America Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 3.             US Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 4.             Canada Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 5.             Mexico Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 6.             Europe Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 7.             Germany Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 8.             France Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 9.             Italy Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 10.          UK Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 11.          Russia Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 12.          Rest of Europe Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 13.          Asia Pacific Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 14.          Australia Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 15.          China Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 16.          Japan Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 17.          India Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 18.          South Korea Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 19.          Rest of Asia Pacific Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 20.          MEA Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 21.          South Africa Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 22.          Saudi Arabia Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 23.          UAE Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 24.          Rest of MEA Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 25.          SAM Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 26.          Brazil Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 27.          Argentina Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 28.          Rest of SAM Thermal Pallet Covers Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 29.          Glossary of Terms, Thermal Pallet Covers Market

 


LIST OF FIGURES

Figure 1.           Thermal Pallet Covers Market Segmentation

Figure 2.           Thermal Pallet Covers Market Segmentation – By Geography

Figure 3.           Global Thermal Pallet Covers Market Overview

Figure 4.           Food and Beverage Segment Held Largest Share of Global Thermal Pallet Covers Market

Figure 5.           Asia Pacific Region Held Largest Share of Global Thermal Pallet Covers Market

Figure 6.           Global Thermal Pallet Covers Market, Key Market Players

Figure 7.           Expert Opinion

Figure 8.           Thermal Pallet Covers Market, Ecosystem

Figure 9.           Global Thermal Pallet Covers Market Impact Analysis of Drivers and Restraints

Figure 10.        Geographic Overview of Thermal Pallet Covers Market

Figure 11.        Global: Thermal Pallet Covers Market – Revenue and Forecast to 2028 (USD Million)

Figure 12.        Thermal Pallet Covers Market Revenue Share, By Application (2020 and 2028)

Figure 13.        Pharmaceutical: Thermal Pallet Covers Market – Revenue and Forecast To 2028 (US$ Million)

Figure 14.        Food and Beverages: Thermal Pallet Covers Market – Revenue and Forecast To 2028 (US$ Million)

Figure 15.        Chemical: Thermal Pallet Covers Market – Revenue and Forecast To 2028 (US$ Million)

Figure 16.        Others: Thermal Pallet Covers Market – Revenue and Forecast To 2028 (US$ Million)

Figure 17.        Global Thermal Pallet Covers Market Revenue Share, by Region (2020 and 2028)

Figure 18.        North America: Thermal Pallet Covers Market – Revenue and Forecast to 2028 (USD Million)

Figure 19.        North America: Thermal Pallet Covers Market Revenue Share, by Application (2020 and 2028)

Figure 20.        North America: Thermal Pallet Covers Market Revenue Share, by Key Country (2020 and 2028)

Figure 21.        US: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Figure 22.        Canada: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Figure 23.        Mexico: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Figure 24.        Europe: Thermal Pallet Covers Market – Revenue and Forecast to 2028 (USD Million)

Figure 25.        Europe: Thermal Pallet Covers Market Revenue Share, by Application (2020 and 2028)

Figure 26.        Europe: Thermal Pallet Covers Market Revenue Share, by Key Country (2020 and 2028)

Figure 27.        Germany: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Figure 28.        France: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Figure 29.        Italy: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Figure 30.        UK: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Figure 31.        Russia: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Figure 32.        Rest of Europe: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Figure 33.        Asia Pacific: Thermal Pallet Covers Market – Revenue and Forecast to 2028 (USD Million)

Figure 34.        Asia Pacific: Thermal Pallet Covers Market Revenue Share, by Application (2020 and 2028)

Figure 35.        Asia Pacific: Thermal Pallet Covers Market Revenue Share, by Key Country (2020 and 2028)

Figure 36.        Australia: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Figure 37.        China: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Figure 38.        Japan: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Figure 39.        India: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Figure 40.        South Korea: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Figure 41.        Rest of Asia Pacific: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Figure 42.        MEA: Thermal Pallet Covers Market – Revenue and Forecast to 2028 (USD million)

Figure 43.        MEA: Thermal Pallet Covers Market Revenue Share, by Application (2020 and 2028)

Figure 44.        MEA: Thermal Pallet Covers Market Revenue Share, by Key Country (2020 and 2028)

Figure 45.        South Africa: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD million)

Figure 46.        Saudi Arabia: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD million)

Figure 47.        UAE: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD million)

Figure 48.        Rest of MEA: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD million)

Figure 49.        South America: Thermal Pallet Covers Market – Revenue and Forecast to 2028 (USD million)

Figure 50.        South America: Thermal Pallet Covers Market Revenue Share, by Application (2020 and 2028)

Figure 51.        South America: Thermal Pallet Covers Market Revenue Share, by Key Country (2020 and 2028)

Figure 52.        Brazil: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD million)

Figure 53.        Argentina: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD million)

Figure 54.        Rest of South America: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD million)

Figure 55.        Impact of COVID-19 Pandemic in North American Country Markets

Figure 56.        Impact of COVID-19 Pandemic in Europe Country Markets

Figure 57.        Impact of COVID-19 Pandemic in Asia Pacific Country Markets

Figure 58.        Impact of COVID-19 Pandemic in Middle East and Africa Country Markets

Figure 59.        Impact of COVID-19 Pandemic in South America Country Markets

 

The List of Companies - Thermal Pallet Covers Market

  1. CargoWise Solutions Limited
  2. QProducts & Services
  3. Insulated Products Corporation
  4. Protek Cargo
  5. ECEPLAST
  6. PAC Worldwide Corporation
  7. TP Solutions
  8. ECOCOOL
  9. Softbox
  10. Nordic Cold Chain Solution
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the Thermal Pallet Covers market, thereby allowing players to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
TIPRE00023718
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Frequently Asked Questions

On the basis of application, the pharmaceutical segment is the fastest growing segment of the global thermal pallet covers market. The pharmaceutical industry is known as one of the major contributors in enhancing the demand for thermal pallet covers in the global market. Many of the drugs in this industry often need to be maintained at a certain temperature until the dosage is administered. The temperature restrictions are further imposed to ensure the initial formulation of the drug is consistent also the efficiency of the drug is not hampered.

In 2020, the food and beverage segment held the largest share in global thermal pallet covers market. In the food and beverage industry, thermal pallet covers are extremely popular. Many shipments are returned to the manufacturer by customers because the quality has been compromised during transportation and the food has been spoiled. As a result, inappropriate food transportation may result in significant losses. The food and beverage industry has boosted its need for thermal pallet covers to avoid this type of loss. Packaged salads, bakery, confectionery, dairy, meat and seafood, as well as a variety of sauces, dips, and dressings, all require specific handling in transit to keep their freshness.

The major players operating in the global thermal pallet covers market are CargoWise Solutions Limited, QProducts & Services, Insulated Products Corporation, Protek Cargo, ECEPLAST, PAC Worldwide Corporation, TP Solutions, ECOCOOL, Softbox, Nordic Cold Chain Solutions, and others.

In 2020, Asia Pacific accounted for the largest share of the global thermal pallet covers market. The thermal pallet covers market in APAC comprises several economies such as China, India, Japan, South Korea, Australia, and the Rest of APAC. These countries are witnessing an increasing manufacturing industry coupled with growing industrialization, which offers ample opportunities for key market players in the thermal pallet covers market. China is mainly dominating the regional market, followed by other countries such as Japan, India, and the Rest of APAC. The growing population, rising disposable income levels of the population, and substantial economic conditions are supporting encouraging growth the demand for food and beverage, pharmaceuticals, and food and beverage products, thereby driving the thermal pallet covers the market in the region.

In 2020, China is the leading country of the global thermal pallet covers market in Asia Pacific. The thermal pallet covers the market in China is characterized by the presence of many small- and large-scale players operating in the country. The low manufacturing and capital costs in China attract new investment and better opportunities for such businesses in the country. The pharmaceuticals, food and beverage service industries, and other industries are leading in China and contributing heavily to the nation’s GDP. All these industries are end-user of thermal pallet covers, contributing to the growth of the thermal pallet covers market.

Increasing benefits of using thermal pallet covers in logistics services is one of the key drivers for the growth of the global thermal pallet covers market. Thermal pallet covers provide high-performance insulation and thermal protection for freight transported by all transportation modes, such as land, air, and water. The covers keep temperature-sensitive products safe and in compliance with the label claims for the duration of their transit. Further, the thermal pallet cover is a more cost-effective solution for logistics companies than other insulation methods, such as refrigerated trucking. Thus, the numerous benefits of using thermal pallet covers in logistics services are driving the growth of the thermal pallet covers market.

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