“Dunnage Trays Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation”
The global dunnage trays market is segmented into material type such as cast urethane, foam grade urethane, polystyrene, polyvinyl chloride (PVC), polyethylene, acrylonitrile butadiene styrene (ABS) and others. Among these segments, cast urethane segment is expected to occupy the top position in the market. Factors such as light weight and reusability are anticipated to positively impact the growth of the cast urethane dunnage trays market. Further, low cost of dunnage trays is likely to intensify the growth of global dunnage trays market. However, polyethylene segment is anticipated to grow at highest CAGR during the forecast period.
Global Dunnage Trays Market is expected to flourish at a CAGR of 4.8% over the forecast period. Factors such as rising utilization in end use industries, growing adoption of innovative dunnage trays and booming shipping & logistics industry are anticipated to drive the demand for dunnage trays market. Moreover, the global dunnage trays market is projected to garner noteworthy revenue by the end of 2024.
In the regional segment, Asia Pacific represented the largest market for dunnage trays worldwide in 2016. Strong economic development of the developing countries such as China and India and increasing number of end use manufacturing bases in the region is aiding to the growth of Asia Pacific dunnage trays market. Europe dunnage trays market is a prominent regional market and is likely to showcase lucrative growth during the forecast period. Penetration of innovative and high strength sustainable dunnage trays into the market is opening a gateway of opportunities for the growth of the dunnage trays market.
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Wide Scale Application
Dunnage trays find their application in various industries such as automotive, electronics, healthcare, food & beverage and others. Moreover, manufacturers are offering custom made dunnage trays. This factor is expected to supplement the expansion of the dunnage trays market.
Innovation in Dunnage Trays Products
Dunnage trays market is witnessing the launch of innovative, sustainable and attractive dunnage trays which is likely to drive the future adoption of dunnage trays. For instance, innovation of dunnage trays (such as stack & rotate design) for better protection of transport products is spurring the growth of the global dunnage trays market. Although, stringent government regulations regarding material and availability of alternatives in the market are some of the factors that are likely to inhibit the growth of the dunnage trays market in the near future.
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The report titled “Dunnage Trays Market : Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global dunnage trays market in terms of market segmentation by material, by application, by end user and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global dunnage trays market which includes company profiling of Rohrer Corporation, Dordan Manufacturing Company, PolyFlex Products Inc., Thermoflex, LLC, Dunnage Engineering, Brown Machine, LLC, Sohner Plastics LLC, Sonoco Products Company, Great River Plastics, LLC and Electro-General Plastics Corp. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global dunnage trays market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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