Future Market Insights
Technological advancements and innovation growth in packaging industry have enabled packaging to play the more vital role than just containing the product during the transit. Today packaging industry is over US$ 820 Bn and is anticipated to grow at rapidly due to its growing area of application in various industries such as automotive, shipping and logistics, food and beverage industry. Dunnage trays are commonly made of plastic and are created with the impressions to perfectly fit with the product hence increasing the stability of the product during the transportation and storage of the product. Use of dunnage tray ensures the safety of the workers dealing with heavy equipment. These trays can also be designed to be loaded robotically thus improving the overall functionality and efficiency of the organization. Light weight, low cost and high load carrying capacity makes dunnage trays an attractive choice for industrial and packaging manufacturers.
Dunnage Trays Market - Market Dynamics
Trays have an extensive application in various industries and to tap the potential of growing use of trays in different industries manufacturers are focusing on innovation in trays market. Trays market is estimated to be over US$ 130 Bn and is anticipated to grow at a CAGR of over 4.5% over the forecast period. Dunnage trays are thermoformed trays manufactured to fulfill the containing solution for a particular product. The ease of handling in products on the use of dunnage trays is the key driver for boosting the demand in dunnage trays market. The ability to get customized according to the need of customers is another factor for supporting demand for dunnage trays market. Reusability, light weight, low cost of raw material and high speed in manufacturing are some other drivers for dunnage trays market. Apart from low-cost dunnage trays can be easily stacked and reused which makes them convenient for transportation. However, dunnage trays market may see a decline due to the rising concern among the regulatory authorities around the globe. Increasing penetration of molded fiber pulp tray in packaging market is eliminating the need for dunnage trays which may limit the scope for dunnage tray market in future. However, on the backdrop of the ability to handle products of with different weight and shapes is expected to lay new opportunities for dunnage trays market.
Dunnage Trays Market - Market Segmentation:
Dunnage trays market is segmented by the types of materials used and by end-use industry.
Based on the types of materials used, dunnage trays market is segmented into:
Polyvinyl chloride (PVC)
Polyethylene terephthalate (PET)
High-density polyethylene (HDPE)
High Molecular Weight Polyethylene (HMWPE)
Acrylonitrile butadiene styrene (ABS)
Thermoplastic polyurethanes (TPU)
Based on the end use industry, dunnage trays market is segmented into:
Shipping & Logistics
Dunnage Trays Market: Regional Outlook
Regionally global dunnage trays market is segmented into
Asia-Pacific excluding Japan (APEJ)
Middle East & Africa (MEA)
Due to rapid industrialization and massive regional goods consumption APEJ region is expected to be the most attractive region for dunnage trays market over the forecast period. North America is expected to follow APEJ region in dunnage trays market to due its huge automotive industry. Western Europe and Eastern Europe are expected to show moderate growth in dunnage market over the forecast period while Japan is expected to contribute the significant share in Dunnage trays market and, MEA and Latin America are expected to exhibit sluggish growth rate over the forecast period in the region.
Dunnage Trays Market- Key Players:
Some major players of the dunnage trays market are Rohrer Corporation, Dordan Manufacturing Company, PolyFlex Products, Inc., Brown Machine, LLC., Dunnage Engineering, Great River Plastics, LLC, Dandy Packaging, Inc., Tray-Pak Corporation, Waveform Plastics Technologies Ltd, Sohner Plastics LLC, Electro-General Plastics Corp., Innovative Plastech, Engineered Components & Packaging, LLC and Sonoco.
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