GCC Pallets Market Size, Share, Growth Analysis, By Materials(Wood, Plastic via Injection Molding, Plastic via Other Methods, Corrugated Paper), By Type(Rackable, Nestable, Stackable, and Display.SegmentApplicationSub-SegmentsRental and Non-rental.Segment Structural DesignSub-SegmentBlock), By Region - Industry Forecast 2024-2031

On account of rapid industrialization and urbanisation, which is one of the primary factors driving market growth, the GCC regional governments are undertaking beneficial initiatives to boost domestic production and international trade.

During the period, the Saudi Pallets market expanded at a moderate pace as the Saudi Arabian economy improved, supported by growth in both the oil and non-oil sectors. Despite the market slowdown caused by the lockdown, the pallets market started to recover in the latter part of the year as commercial activities resumed, resulting in increased industrial and commercial demand for pallets. The market revenue is expected to grow significantly in the coming years as a result of strong growth in the construction, manufacturing, retail, and industrial sectors in line with the Saudi Vision 2030, which will increase demand for pallets because the pallet helps to reduce clutter while storing intermediate goods.

One key driver for this growth is the increasing shipments of goods moving through GCC countries. This is especially true for exports, as goods are being sent directly to markets in Qatar and the United Arab Emirates (UAE) rather than shipping them through other regions. In addition, stringent regulations in certain countries (such as Bahrain and Oman) are driving businesses to find more efficient means of shipping their goods. This has led to increased demand for pallets as they are an efficient way of transporting goods.