According to our latest market study on “Thermal Pallet Covers Market for Pharmaceutical Application Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Aluminum Foil, Polymer, and Others),” the market is expected to grow from US$ 1,240.62 million in 2021 to US$ 2,302.96 million by 2028; it is expected to grow at a CAGR of 9.2% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Thermal pallet covers are manufactured by using different raw materials, such as polyethylene, aluminum foils, and insulation materials. The covers are useful for the shipment of pharmaceutical products to control temperature as per need. The pharmaceutical industry is one of the major industries that create huge demand for thermal pallet covers globally. In 2020, the aluminum foil segment held the largest share in the global thermal pallet covers market for pharmaceutical application.
Temperature control is one of the most important factors to be considered when transporting, handling, and storing drugs and other pharmaceutical products in the pharmaceutical industry. Hence, there is a high demand for thermal pallet covers to ensure that temperatures stay at the appropriate level around drugs. The covers make it easier for the pharmaceutical shipper to maintain temperature and keep the shipments safe, as damaged pharmaceutical shipments can cause huge losses.
Further, the rising consumption of pharmaceutical products due to the growing need to treat aging-related and chronic diseases creates a demand for temperature-controlled pharmaceutical transportation. Hence, the increasing use of thermal pallet covers for the shipment of medicines and drugs drives the market for pharmaceutical application.
Impact of COVID-19 Pandemic on Thermal Pallet Covers Market for Pharmaceutical Application
Before COVID-19 outbreak, the thermal pallet covers market for pharmaceutical application was mainly driven by the increasing use of thermal pallet covers for shipping various pharmaceutical products. However, the COVID-19 pandemic has disturbed manufacturing processes due to restrictions imposed by government authorities in various countries.
Owing to the COVID-19 outbreak, the demand for thermal pallet covers has increased as there was a high need for pharmaceutical products, especially medicines and drugs. Most of the pharmaceutical products are life-saving and valuable and need to be safely transported at safe temperatures through the supply chain. Further, since the COVID-19 pandemic, the world has eagerly followed the rapid development of vaccines. Vaccines are temperature-sensitive, and any minor negligence can have significant consequences. As a result, the demand for thermal pallet covers has increased among the logistics companies involved in the transportation of vaccines.
Global Thermal Pallet Covers Market for Pharmaceutical Application Breakdown – by Region
Thermal Pallet Covers Market for Pharmaceutical Application - 2028
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Thermal Pallet Covers Market for Pharmaceutical Application Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Aluminum Foil, Polymer, and Others)
Thermal Pallet Covers Market for Pharmaceutical Application - 2028
Download Free SampleThermal Pallet Covers Market for Pharmaceutical Application Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Aluminum Foil, Polymer, and Others)
The report includes the segrowthgmentation of the global thermal pallet covers market for pharmaceutical application as follows:
The thermal pallet covers market for pharmaceutical application, by type, is segmented into aluminum foil, polymer, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The market in North America is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market for pharmaceutical application in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The market in South & Central America is subsegmented into Brazil, Argentina, and the Rest of South & Central America.Contact Us
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