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

Code: TIPRE00024968 | Pages: 79 | Industry: Chemicals and Materials | Date: Sep 2021
Covid

Market Introduction

North America consists of developed economies, including the U.S. and Canada, as well as Mexico, as a developing nation. In this region, the United States is a major market for thermal pallet covers, followed by Canada and Mexico. Thermal pallet covers are designed to preserve the optimal temperature of products and perishables. Thermal pallet covers are used for thermal protection of pallets during transport, loading/unloading, and storage, when exposure to excessively cold/hot temperatures may damage products and goods. The North American region largely supports the growth of the thermal pallet covers market through effective manufacture and trade policies. The accelerated growth of the food and beverage industry in the region is anticipated to drive the demand for the thermal pallet covers market since the thermal pallet covers are highly utilized while transporting food and beverage & beverage products. According to the US Department of Agriculture, food and 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 and 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 and beverage & beverage sector, is anticipated to create demand for thermal pallet covers. Thermal pallet covers are prepared with multiple layers of insulation, where the pure aluminum foil is one of the biggest parts of the insulation. Pure aluminum foil is known for the insulation as many times; it is proven insulation from households to industries. Consequently, the demand for temperature-sensitive packaging against extreme weather conditions also reduce chances of excursions is rising in the countries of North America, which will further propel the thermal pallet covers market during the forecast period.

In case of COVID-19, North America is highly affected specially the US. 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 countries, 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 enable trade and commerce by assisting businesses to deliver their products to clients, both within and across international borders. In North America, the crisis has adversely affected the chemicals & materials industry due to restricted supply chain. The overall disruptions in manufacturing process, restrictions on supply chain, and travel bans hindered the shipping and logistics sector across North America, which restrained the growth of the thermal pallet covers market. Remarkable success in vaccination drives across the region is projected to have a positive impact on the business activities and economic growth, which is projected to favor the growth of the thermal pallet covers market in North America during the forecast period.


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Market Overview and Dynamics

The North America thermal pallet covers market is expected to grow from US$ 890.74 million in 2021 to US$ 2,167.23 million by 2028; it is estimated to grow at a CAGR of 13.5% from 2021 to 2028.  Increasing investments in product innovation and research & development activities is expected to surge the North America thermal pallet covers market. Manufacturers of thermal pallet covers are adopting product innovation, and research and development strategies to meet the changing requirements of consumers. They are launching highly flexible and convenient packaging solutions to ensure high-end customer satisfaction. Several companies have developed thermal pallet covers integrated with phase change material (PCM) that self-regulates its performance according to the temperature conditions. Phase change materials are unique thermal energy storage materials that are widely used as a dependable source of energy to maintain specified temperatures in a variety of sectors. They are suitable for cold chain transit and storage as well as temperature-controlled food and pharmaceutical packaging. Phase change materials provide consistent performance over many usage cycles and maintain a steady temperature during the release and absorption of energy. The use of phase change materials make the thermal pallet covers robust, flexible, and easy to handle. Such product innovations and developments are expected to create lucrative growth opportunities to the manufacturing companies of thermal pallet covers and offer several freight services in the coming years across North America region.

Key Market Segments

In terms of application, the food & beverage segment accounted for the largest share of the North America 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 North America 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, Insulated Products Corporation, Nordic Cold Chain Solutions, PAC Worldwide Corporation, PROTEK CARGO, QProducts & Services, and Softbox Systems Ltd.

Reasons to buy report

  • To understand the North America 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 North America thermal pallet covers market 
  • Efficiently plan M&A and partnership deals in North America 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 North America thermal pallet covers market
  • Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

North America Thermal Pallet Covers Market Segmentation 

North America Thermal Pallet Covers Market - By Application

  • Pharmaceutical
  • Food & Beverage 
  • Chemicals
  • Others

North America Thermal Pallet Covers Market - By Country

  • US
  • Canada     
  • Mexico

North America Thermal Pallet Covers Market - Company Profiles

  • ECEPLAST
  • Insulated Products Corporation
  • Nordic Cold Chain Solutions
  • 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.           North America 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.           North America Thermal Pallet Covers Market – Key Market Dynamics

5.1         Market Drivers

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

5.1.2        Growing Benefits of Thermal Pallet Covers in Logistics Services

5.2         Restraints

5.2.1        Environmental Issues of Single-use Thermal Pallet Covers

5.3         Market Opportunities

5.3.1        Increasing Investments in Product Innovation and Research & Development Activities

5.4         Future Trend

5.4.1        Rise of Bio-based and Recyclable Thermal Pallet Covers

5.5         Impact Analysis of Drivers and Restraints

6.           Thermal Pallet Covers Market – North America Analysis

6.1         North America Thermal Pallet Covers Market Overview

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

7.           North America Thermal Pallet Covers Market Analysis – By Application

7.1         Overview

7.2         North America 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.           North America Thermal Pallet Covers Market – Country Analysis

8.1         Overview

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

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

8.1.1.1.1          US: Thermal Pallet Covers Market, by Application

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

8.1.1.2.1          Canada: Thermal Pallet Covers Market, by Application

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

8.1.1.3.1          Mexico: Thermal Pallet Covers Market, by Application

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

9.1         North America: 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      Insulated Products Corporation

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      PROTEK CARGO

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      ECEPLAST

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      PAC Worldwide Corporation

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      Softbox Systems Ltd.

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      Nordic Cold Chain 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

11.        Appendix

11.1      About The Insight Partners

11.2      Glossary of Terms

LIST OF TABLES

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

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

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

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

Table 5.             Glossary of Terms

LIST OF FIGURES

Figure 1.           North America Thermal Pallet Covers Market Segmentation

Figure 2.           North America Thermal Pallet Covers Market Segmentation – By Country

Figure 3.           North America Thermal Pallet Covers Market Overview

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

Figure 5.           The US Held Largest Share of Market

Figure 6.           Expert Opinion

Figure 7.           North America Thermal Pallet Covers Market, Ecosystem

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

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

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

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

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

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

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

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

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

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

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

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

Figure 20.        Impact of COVID-19 Pandemic in North American Country Markets

 

  1. ECEPLAST
  2. Insulated Products Corporation
  3. Nordic Cold Chain Solutions
  4. PAC Worldwide Corporation
  5. PROTEK CARGO
  6. QProducts & Services
  7. Softbox Systems Ltd.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America 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 North America 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 North America 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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