Wood Pallet Industry In 2022 (2024)

FAQs

Wood Pallet Industry In 2022? ›

The global pallets market size was estimated at USD 66 billion in 2022 and is expected to hit around USD 110.09 billion by 2032 and is poised to grow at a compound annual growth rate (CAGR) of 5.3% from 2023 to 2032.

“According to the latest research study, the demand of global Wood Pallets Market size & share was valued at approximately USD 14.3 Billion in 2023 and is expected to reach USD 15.6 Billion in 2024 and is expected to reach a value of around USD 21.2 Billion by 2033, at a compound annual growth rate (CAGR) of about 4.6% ...

The Global Wood Pallet market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Demand has increased

The demand for wooden pallets is increasing. In 2021, 101.3 million EPAL wooden europallets were newly produced, with a total number of repaired and produced pallets of 123.5 million. This is a record number. In 2020, there were 123.5 million, of which 97.3 million were newly produced pallets.

The global wood pallets market was valued at USD 13.12 billion in the year 2023 and is expected to reach USD 13.77 billion in 2024.

Since the onset of the pandemic, supply chains have been plagued with material, fuel, and labor shortages – it is no surprise they are experiencing an acute wood pallet shortage as well.

How Much Can You Expect to Make with Liquidation Pallets? Selling liquidation pallets can be quite profitable, especially when you work with big retail brands in the US. Selling products from pallets gives you a profit margin around 30-40% per sale.

Between April 2021 and April 2022, #1 recycled pallet prices in California increased over 100% from $9.15 to $18.75 (Recycled Record data). After April 2022, however, pricing has been trending downward.

Amazon mandates using ISPM -15 wooden pallets (lumber, plywood, composite, etc.) for the US and EU and most of the other marketplaces. ISPM-15 wooden pallets undergo heat treatment or fumigation to meet the International Standards for Phytosanitary Measures (ISPM) No. 15.

Firstly, wood is a quite heavy material, and because of that it can break easier than other materials. Another downside would be the fact that it cannot be cleaned easily. Additionally, there is a higher risk of growing bacteria and fungus, which makes it unsafe for transporting food or other sensitive items.

What pallets sell the most? ›

Pallet sizes will always play a major role in determining the sellback value of your used pallet supply, and the general rule here is that standard sizes like 48×40 and 48×45 will have higher sellback values as compared to custom sized pallets that are less useful for other businesses.

Wooden pallets are more susceptible to splintering and breaking than plastic or metal counterparts. Over time, wear and tear can lead to pallet damage, creating a serious safety hazard for workers involved in handling and loading these pallets.

The greatest users of pallets are the mills that produce flat or formed rolled stock such as plain, galvanized, coated, or electrical sheet; strip metal; tin plate; and corrugated roofing. Figure 3. Examples of wood pallets used in the steel industry.

Size and type: Standard sizes are cheaper than custom sizes, and more specialized types like block pallets cost more. Material: Hardwood pallets are pricier than softwood pallets. Condition: New pallets are more expensive than used or recycled pallets.

The global pallets market size was estimated at USD 66 billion in 2022 and is expected to hit around USD 110.09 billion by 2032 and is poised to grow at a compound annual growth rate (CAGR) of 5.3% from 2023 to 2032.

The wood products market size has grown strongly in recent years. It will grow from $750.14 billion in 2023 to $805.03 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%.

The global wood furniture market size reached US$ 275.7 Billion in 2023 and is projected to reach US$ 413.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4.61% during 2023-2032. The global market is primarily driven by the escalating demand for wood furniture materials in residential applications.

Given that consumer demand has started to see some modest growth while supply remained somewhat depressed, lumber prices have ticked slightly higher in 2024 than the lows experienced through periods of 2023.