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

Code: TIPRE00024966 | Pages: 78 | Industry: Chemicals and Materials | Date: Sep 2021
Covid

Market Introduction

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. The APAC region encompasses an ample number of opportunities for the growth of thermal pallet covers. This region has been noticed as one of the prominent markets for the utilization of thermal pallet covers. 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.  Thermal protection is quite important for several items, especially during manufacture and transportation that need protection from environmental factors, including heat, wind, rain, and dust. The THERM SHIELD products help in maintaining the value & quality of goods, which further contribute to decreasing scrap as a result of exposure to extreme temperature with humidity fluctuation. Insulating blankets give exceptional protection from thermal challenges as well as providing cushioning of the product as an additional advantage. This is particularly important for perishable also temperature-sensitive products. The company's covers are ideal for maintaining a consistent temperature throughout storage and transport. Moreover, the thermal pallet covers find multiple applications in pharmaceuticals, industrial goods, and others. Consequently, these factors have led to the thermal pallet covers market growth in APAC.

In case of COVID-19, APAC is highly affected specially India. The severity of the consequences and impact is entirely dependent on the transmission of the novel coronavirus. Various governments in the region are taking serious actions to limit the spread by imposing lockdowns, which is slowing down the import and export activities leading to slowdown in logistics operations. This factor is anticipated to severely impact the growth of regional market. However, due to vaccination and less restrictions, businesses are resuming across the region. The introduction of COVID-19 vaccines by governments of countries has eased out the situation leading to rise in business activities across the region. 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.  Therefore, customers get access to a wide range of products, such as essential goods, convenience products, and safety goods. It has also allowed businesses to continue their operations despite limitations and restrictions on industrial and transportation activities. With the growth of the e-commerce industry across the region, the logistics operations are expected to gain significant growth, which, in turn, would drive the growth of the thermal pallet covers market in APAC.


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Market Overview and Dynamics

The APAC thermal pallet covers market is expected to grow from US$ 1,799.95 million in 2021 to US$ 4,114.60 million by 2028; it is estimated to grow at a CAGR of 12.5% from 2021 to 2028. Escalating demand for thermal pallet covers from various end user industries is expected to surge the market growth. Thermal pallet covers have wide application across industries such as pharmaceuticals, food & beverage, chemicals, and paints & pigments. Pharmaceutical products, especially drugs and medicines, are highly temperature sensitive. Temperature fluctuations have been a concern for logistics businesses, specializing in pharmaceutical and healthcare shipping services. Exposure to extreme weather conditions and temperature changes can cause damage to the product, which can lead to stock wastage and losses. Therefore, thermal pallet covers are extensively used while loading, unloading, warehousing, and cross-docking of pharmaceutical drugs. In the food & beverage sector, the use of thermal pallet covers is quite common. Certain food and beverages, such as frozen food, perishable food products, ice-creams, frozen desserts, bakery goods, and alcoholic beverages, are extremely sensitive to temperature. These products need to be stored and shipped at ambient temperature conditions. In temperature fluctuations, thermal pallet covers help in preventing losses and damages of perishable food products. Therefore, these covers are in high demand from the food & beverage industries. Chemicals are generally highly sensitive to environmental conditions. Different chemicals require different temperature and pressure condition depending upon their physical and chemical characteristics. They demand careful packaging during transit. Thermal pallet covers are affordable and effective solution to meet different temperature requirements for shipping the chemicals. Therefore, several industrial chemical manufacturers require thermal pallet covers for the transportation of chemical products to ensure their safety from extreme temperature and environmental conditions. As a result, the demand for thermal pallet covers is significantly increasing from the chemical industry. All these factors are driving the growth of APAC thermal pallet covers market.

Key Market Segments

In terms of application, the food & beverage segment accounted for the largest share of the APAC thermal pallet covers market in 2020.     Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the APAC thermal pallet covers market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ECEPLAST, PAC Worldwide Corporation, PROTEK CARGO, QProducts & Services, and Softbox Systems Ltd.

Reasons to buy report

  • To understand the APAC thermal pallet covers market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC thermal pallet covers market 
  • Efficiently plan M&A and partnership deals in APAC thermal pallet covers market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC thermal pallet covers market
  • Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.

APAC Thermal Pallet Covers Market Segmentation 

APAC Thermal Pallet Covers Market - By Application

  • Pharmaceutical
  • Food & Beverage 
  • Chemicals
  • Others

APAC Thermal Pallet Covers Market - By Country

  • Australia
  • China
  • India
  • Japan
  • South Korea  
  • Rest of APAC

APAC Thermal Pallet Covers Market - Company Profiles

  • ECEPLAST
  • PAC Worldwide Corporation
  • PROTEK CARGO  
  • QProducts & Services
  • Softbox Systems Ltd.

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.           APAC 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.           APAC Thermal Pallet Covers Market – Key Market Dynamics

5.1         Market Drivers

5.1.1        Escalating Demand for Thermal Pallet Covers from Various End User Industries

5.1.2        Surging Benefits of 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        Burgeoning Investments in Product Innovation and Research & Development Activities

5.4         Future Trend

5.4.1        Growth of Bio-based and Recyclable Thermal Pallet Covers

5.5         Impact Analysis of Drivers and Restraints

6.           Thermal Pallet Covers Market – APAC Analysis

6.1         APAC Thermal Pallet Covers Market Overview

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

7.           APAC Thermal Pallet Covers Market Analysis – By Application

7.1         Overview

7.2         APAC 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.           APAC Thermal Pallet Covers Market – Country Analysis

8.1         Overview

8.1.1        APAC: Thermal Pallet Covers Market, by Key Country

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

8.1.1.1.1          Australia: Thermal Pallet Covers Market, by Application

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

8.1.1.2.1          China: Thermal Pallet Covers Market, by Application

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

8.1.1.3.1          Japan: Thermal Pallet Covers Market, by Application

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

8.1.1.4.1          India: Thermal Pallet Covers Market, by Application

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

8.1.1.5.1          South Korea: Thermal Pallet Covers Market, by Application

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

8.1.1.6.1          Rest of APAC: Thermal Pallet Covers Market, by Application

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

9.1         APAC: Impact Assessment of COVID-19 Pandemic

10.        Company Profiles

10.1      QProducts & Services

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      PROTEK CARGO

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      ECEPLAST

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      PAC Worldwide Corporation

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      Softbox Systems Ltd.

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

11.        Appendix

11.1      About The Insight Partners

11.2      Glossary of Terms

LIST OF TABLES

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

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

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

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

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

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

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

Table 8.             Glossary of Terms

LIST OF FIGURES

Figure 1.           APAC Thermal Pallet Covers Market Segmentation

Figure 2.           APAC Thermal Pallet Covers Market Segmentation – By Country

Figure 3.           APAC Thermal Pallet Covers Market Overview

Figure 4.           Food and Beverage Segment Held Largest Share of the Market

Figure 5.           China Held the Largest Share of Market

Figure 6.           Expert Opinion

Figure 7.           APAC Thermal Pallet Covers Market, Ecosystem

Figure 8.           APAC Thermal Pallet Covers Market Impact Analysis of Drivers and Restraints

Figure 9.           APAC Thermal Pallet Covers Market – Revenue and Forecast to 2028 (USD Million)

Figure 10.        APAC Thermal Pallet Covers Market Revenue Share, By Application (2020 and 2028)

Figure 11.        APAC Pharmaceutical: Thermal Pallet Covers Market – Revenue and Forecast To 2028 (US$ Million)

Figure 12.        APAC Food and Beverages: Thermal Pallet Covers Market – Revenue and Forecast To 2028 (US$ Million)

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

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

Figure 15.        APAC: Thermal Pallet Covers Market, by Key Country – Revenue (2020) (USD Million)

Figure 16.        APAC: Thermal Pallet Covers Market Revenue Share, by Key Country (2020 and 2028)

Figure 17.        Australia: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

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

Figure 19.        Japan: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

Figure 20.        India: Thermal Pallet Covers Market –Revenue and Forecast to 2028 (USD Million)

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

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

Figure 23.        Impact of COVID-19 Pandemic in Asia Pacific Country Markets

  1. ECEPLAST
  2. PAC Worldwide Corporation
  3. PROTEK CARGO
  4. QProducts & Services
  5. Softbox Systems Ltd.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the APAC thermal pallet covers market.       
  • 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 APAC thermal pallet covers market, thereby allowing players across the value chain to develop effective long-term strategies  
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the thermal pallet covers market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution  
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