Summary
The slip and tier sheets market size is expected to grow from US$ 15,96,288.51 thousand in 2022 to US$ 24,99,318.53 thousand by 2028; it is estimated to grow at a CAGR of 7.8% from 2022 to 2028.
Slip and tier sheets are manufactured using materials such as kraft paper, corrugated fiberboard, high density polyethylene (HDPE), and polypropylene.These sheets are used in food & beverage, consumer electronics, chemicals, pharmaceuticals, retail, and other end-use industries.
There is an increasing use of slip and tier sheets in various application fields due to their various advantages over pallets.A large number of food & beverage manufacturers are opting for slip and tier sheets to reduce their overall shipping and transportation costs, which is significantly driving the market growth.
In addition, the growth of the e-commerce & logistics sectors in different countries across the globe is driving the global slip and tier sheet market growth.Slip and tier sheets find application in the transportation of various products, including food, beverage, consumer goods, chemicals, and pharmaceutical products.
Slip and tier sheets are cost-effective and environmental-friendly; they also provide maximum space for shipping and storage. The high demand for plastic slip sheets is expected to offer more lucrative opportunities for the growth of the global slip and tier sheet market in the coming years. However, a few disadvantages are associated with the usage of slip sheets, such as they provide less structural support than pallets, which is expected to slightly hamper the slip and tier sheets market growth during the forecast period.
Based on end-use industry, the global slip and tier sheets market is segmented into food & beverage, consumer electronics, chemicals, pharmaceuticals, retail, and others.The food & beverage segment held the largest share of the global slip and tier sheets market in 2021.
They are mainly used in the food & beverages industry as a replacement for traditional wooden pallets to avoid damage.They are also used in the transportation of beverage bottles, cans, containers, processed foods in cartons and sacks, fruit & vegetable cartons and crates, dairy products, and dry goods such as salts and other ingredients.
The main benefit of using slip and tier sheets in this sector is that it eliminates the need for manual handling, which often results in injuries to workers.
In 2021, North America held the largest revenue share of the global slip and tier sheets market.Based on country, the North America slip and tier sheets market is segmented into the US, Canada, and Mexico.
Growing transborder freight between North American countries is one of the major factors driving the slip and tier sheet market growth across the region.There is an increasing awareness of the benefits of slip and tier sheets in material handling, which is leading to their increasing usage in different application fields.
The US, one of the key economies in North America, contributes significantly to the growth of the slip and tier sheet market. According to the United Nations COMTRADE, US exports of pharmaceutical products were US$ 77.96 billion in 2021 and are continuously growing at a significant pace. In addition, according to the Chemical Industry Association of Canada, Canada’s industrial chemical industry is export-intensive, and 74% of production was exported in 2021. Thus, a surge in the export of pharmaceuticals and other products is anticipated to propel the market growth in the region. Further, major players in the slip and tier sheets market are investing in research and development activities to provide superior-quality products.
A few players operating in the global slip and tier sheets market include Fresh Pak Corp, International Paper Co, Georgia-Pacific LLC, Menasha Corp, Signode Industrial Group LLC, Fibre Converters Inc, Red Rock Pallet Co Inc, WestRock Co, Badger Paperboard Inc, and Dura-Fibre LLC.Market players are focusing on providing high-quality products to fulfill customer demand.
They are also focusing on strategies such as investments in research and development activities and mergers & acquisitions.
The overall global slip and tier sheets market size has been derived using both primary and secondary source.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the slip and tier sheets market.
