Thermal pallet covers provide insulation from temperature fluctuations, moisture, and extreme weather conditions to the shipments with temperature-sensitive products. Pharmaceutical products such as drugs, medicines, and vaccines are highly prone to spoilage when exposed to high temperatures. During transportation and warehousing, such products need temperature insulation to keep them safe and spoilage-free. The significant growth of the pharmaceutical industry owing to rising prevalence of chronic diseases and increasing awareness regarding health and wellness is projected to drive the growth of the thermal pallet covers market for pharmaceutical application.
Product Innovation is Likely to Provide Significant Growth Opportunities in the Global Thermal Pallet Covers Market for Pharmaceutical Applications
Players operating in the thermal pallet covers market for pharmaceutical application adopt product innovation and research and development strategies to meet customers’ requirements. For instance, Cold Chain Technologies launched the pallet cover system with integrated phase change material (PCM). The company launched this product to protect temperature-sensitive biopharmaceuticals and other therapies during shipping. Further, in 2018, UK based TLX Cargo launched a new thermal cover with phase change material. On the other hand, some companies are also developing thermal blankets and thermal covers made from bio-degradable plastics. For instance, Krautz TEMAX is one company that provides bio-based thermal blankets and covers for pallets. The company also invests heavily in developing and producing bio-based thermal blankets. Using bio-based and biodegradable materials for manufacturing thermal pallet covers would ultimately lower the environmental impact throughout the product life cycle and contribute to sustainability. Such product innovations are expected to open lucrative opportunities in the thermal pallet covers market for pharmaceutical application over the forecast period.
A few players operating in the thermal pallet covers market for pharmaceutical application include ECOCOOL, ECEPLAST, Insulated Products Corporation, PROTEK CARGO, CSafe Global, PAC Worldwide Corporation, Thermal Packaging Solutions, Nordic Cold Chain Solutions, QProducts & Services, and CargoWise Solutions Ltd., among others.
