The “South Korea Pallet Market Research Report: By Material (Wood, Plastic, Metal, Corrugated Paper), By Application (Food Beverages, Manufacturing, Transportation Warehousing, Automotive, Chemicals Pharmaceuticals, Oil Petroleum, Others), By Design (Block Pallets, Stringer Pallets) and Others Forecast (2025-2030)”, Report offered by Markntel Advisors.
According to the report, the South Korea Pallet Market size was valued at around USD 1.22 billion in 2024 and is projected to reach USD 1.79 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 6.67% during the forecast period, i.e., 2025-30. This is owing to the high functionality because of which they can be used to efficiently store, lift, and transport products of various industries like; electronics, manufacturing, food beverages, etc. This helps companies to maintain their inventories by using the space efficiently.
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Wood to Lead South Korea Industry Growth with 52% Shares
Among all, the wood segment is expected to substantially contribute to the growth of the South Korea Pallet industry with 52% shares in upcoming years. This growth is further accelerated by the high availability of raw wood in South Korea that is used for making pallets, especially pine and oak wood. Additionally, the widespread advantages offered by wooden pallets further attract more customer base across the country.
Block Pallets Significantly Dominated South Korea Pallet Industry with 69% of Shares
Based on design, the segment is bifurcated into block pallets, stringer pallets, and others, out of which block pallets gained widespread attention and substantially contributed to the industry growth with 69% shares. This is because block pallets can be lifted from any of the four sides which makes it easy for the users to manage the space of the inventories more efficiently.
Key Attributes
- Forecast Period: 2025-30
- Estimated Market Value (USD) in 2024: USD 1.22 Billion
- Forecasted Market Value (USD) by 2030: USD 1.79 Billion
- Compound Annual Growth Rate: 6.67%
Key Topics Covered:
Executive Summary
- South Korea Pallet Market, 2020-2030 (USD Billion)
- The wood segment undergoes the utmost growth
- The block pallets segment dominated the South Korea industry
Market Dynamics:
Drivers
- Expansion of E-Commerce
- Ever-increasing exports from the country
- Growing industrialization
- Customized pallets seek widespread popularity
- Inclination towards pallet renting systems
Challenges
- Fluctuation in local supply of raw woods
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Key Market Players and Recent Updates: Strengthening the Industry Growth
Highlighting the recent update that demonstrates the further growth and market expansion:
- Logisall Group in 2024 introduced the concept of a pallet pool. In this system, pallets are combined and used by various companies. This also shows the company’s focus on sustainability.
Additionally, to strengthen their market position, certain market players such as Sehwa Pallet, Samjung Industries, Daihyun Wood, Logisall Group, Enlightening Pallet, Eagon Greentech, NPC Corporation, Korea Plastic Co. Ltd., Leehwa Industry Co. Ltd., Alporter, and others, are operating, not only to raise revenue but also to seek comprehensive attention and popularity from large customers. Therefore, looking forward to futuristic growth and betterment.
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