Growth of E-Commerce & Logistics Sector to Bolster Slip and Tier Sheet Market Growth
According to our latest study on “Slip and Tier Sheet Market Size and Forecast (2021–2031), Global and Regional Growth Opportunity Analysis – by Material and End-Use Industry,” the market is expected to grow from US$ 1.72 billion in 2023 to US$ 3.18 billion by 2031; it is estimated to register a CAGR of 8.0% from 2023 to 2031. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Slip and tier sheets are affordable alternatives to wooden pallets. The cost of slip sheets is directly proportional to the strength of the material. Raw materials required for the manufacturing of slip and tier sheets include kraft paperboard, corrugated fiberboard, and plastic. High density polyethylene (HDPE) and polypropylene are among the types of plastics used in the manufacturing of slip and tier sheets. Plastic provides greater strength than fiberboard and allows the use of sheets in cold and humid environments. Tier sheets are made from HDPE and polypropylene. A large number of companies produce slip and tier sheets from recycled materials. Additional features incorporated by market players into slip and tier sheets to enhance their feasibility in certain applications include biodegradability, fire retardance, recyclability, returnability or reusability, and moisture resistance. Food & beverage, retail, consumer electronics, chemicals, and pharmaceuticals are among the major end-use industries wherein slip and tier sheets are used. The advantages of slip sheets over pallets include lower purchasing costs, maximized warehouse space, lower transportation costs, and eco-friendly functionality. Moreover, tier sheets are durable and recyclable. All these benefits of slip and tier sheets are driving their use in different application industries.
Slip and Tier Sheet Market Breakdown – by Region
Slip and Tier Sheet Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Material (Kraft Paperboard, Corrugated Fiberboard, High Density Polyethylene, and Others) and End-Use Industry (Food and Beverage, Consumer Electronics, Chemicals, Pharmaceuticals, Retail, and Others)
Slip and Tier Sheet Market Growth and Forecast | 2031
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The slip and tier sheet market analysis has been performed by considering the following segments: material and end-use industry. Based on end-use industry, the food & beverage segment is anticipated to hold a significant slip and tier sheet market share by 2031. Many food and beverage manufacturers opt for slip and tier sheets to reduce their overall shipping and transportation costs, significantly driving the market growth.
The slip and tier sheet market report emphasizes the key factors driving the market. The growth of the e-commerce & logistics sector is mainly driving the market. The logistics industry growth is attributed to the rise of e-commerce and online shopping, rapid expansion of various sectors such as the retail sector, and various government initiatives on infrastructure development. In the last few years, e-commerce has grown exponentially, and companies such as Amazon, Walmart, and Alibaba have ensured that customers receive their required products using e-commerce platforms on their smartphones. The high preference for online shopping is leading to a huge increase in demand for logistics services. Due to the growth of online grocery shopping, many logistics companies are experiencing a significant need for their services. Moreover, the high number of last-mile and express deliveries and the implementation of reverse logistics are influencing the global expansion of the logistics industry. Further, the growth of the e-commerce sector has allowed the logistics industry to branch out and diversify its operations. During the COVID-19 pandemic, many people preferred online shopping. The growth of the e-commerce industry is fueled by the rapid penetration of the internet, changing consumer preferences, and the growing middle-class population. The e-commerce industry is driving the road freight transport sector across the globe. Further, the growing demand for food and beverages, pharmaceuticals, chemicals, and electronics positively impacts the logistics industry.
In terms of revenue, North America dominated the slip and tier sheet market share. 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, the United States' exports of pharmaceutical products increased to US$ 90.3 billion in 2023, from US$ 78 billion in 2021. Thus, a surge in the export of pharmaceuticals drives the demand for slip and tier sheets in the country. Further, retail sales in Canada are continuously rising at a significant pace, which is expected to boost the slip and tier sheet market growth in Canada.
The slip and tier sheet market trends include the growing use of sustainable packaging solutions in shipping and logistics. Slip sheets are recyclable and more environmentally friendly than traditional wooden pallets, which are discarded in landfills. Tier sheets are also recyclable and can be made from 100% recycled paper. Many companies are taking action to offer greener packaging solutions. Making logistics greener allows the companies to remain competitive in the market. Various companies and industries are increasingly focusing on using green and sustainable packaging solutions, such as slip and tier sheets, in their product's shipping and logistics to reduce carbon footprints. In addition, various rules, regulations, and initiatives are encouraging the use of sustainable packaging products across different regions.
Fresh Pak Corp, International Paper Co, Georgia-Pacific LLC, Signode Industrial Group LLC, WestRock Co, Dura-Fibre LLC, Smurfit Kappa Group Plc, Crown Paper Converting, Eltete TPM Oy, and Sonoco Products Co are among the prominent players profiled in the slip and tier sheet market report. Players operating in the global market focus on providing high-quality products to fulfill customer demand. Also, they focus on adopting various strategies such as new product launches, capacity expansions, partnerships, and collaborations in order to stay competitive in the market. The slip and tier sheet market forecast can help stakeholders plan their growth strategies. For instance, in September 2023, Sonoco Products Co announced that it had completed the acquisition of the remaining equity interest in RTS Packaging, LLC from joint venture partner WestRock and one WestRock paper mill in Chattanooga, Tennessee. This acquisition will strengthen and expand Sonoco's 100% recycled fiber-based packaging solutions to serve growing consumer wine, spirits, food, beauty, and healthcare markets. With this acquisition, Sonoco added a network of 15 operations and 1,100 employees in the US, Mexico, and South America. In November 2021, Badger Paperboard—a chipboard converting company headquartered in Fredonia, Wisconsin—announced the acquisition of Falcon Packaging in Houston, Texas. The addition of Falcon Packaging's full converting and warehousing facilities in Houston will expand Badger's footprint and production capabilities.
The report includes the segmentation of the slip and tier sheet market as follows:
The global slip and tier sheet market is segmented on the basis of material, end-use industry, and geography. Based on material, the market is segmented into kraft paperboard, corrugated fiberboard, high density polyethylene, and others. By end-use industry, the market is segmented into food and beverage, consumer electronics, chemicals, pharmaceuticals, retail, and others. By geography, the slip and tier sheet market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market 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 Asia Pacific market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The slip and tier sheet market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America market is further segmented into Brazil, Argentina, and the Rest of South & Central America.
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