$5190
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The slip and tier sheet market is expected to grow from US$ 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.
Market Insights and Analyst View:
Slip and tier sheets are affordable alternatives to wooden pallets. These sheets occupy less space than wooden pallets and allow for transporting more truckloads, saving companies' logistical expenses. Slip and tier sheets are generally made of kraft paper, corrugated fiberboard, high density polyethylene, and polypropylene. Manufacturers design slip sheets based on the number of lip extensions that connect with the loading device. The two fundamental types of slip sheets are single-lip and multi-lip. The slip sheet made from a corrugated fiberboard consists of two liner surfaces with a corrugated interior bonded with adhesive or glue. Slip sheets manufactured from paperboard have a high base weight and density. They are produced in multiple layers laminated together, and this bonding allows the use of sheets multiple times in different temperature environments. Plastic slip sheets are made from thermoplastic or thermoset polymers. Plastic slip and tier sheets are becoming increasingly popular as they are affordable, have a high strength, are suitable for heavy-duty material handling, and provide strong structural support to the products. Companies offer slip sheets that have specified dimensions of length, width, and thickness. Tier sheets are available in different sizes. Moreover, companies operating in the market provide slip and tier sheets in any custom size.
Growth Drivers and Challenges:
The increasing use of slip and tier sheets in various industries is contributing to the growing slip and tier sheet market size. Slip sheet is a thin and lightweight alternative to wood pallets. Slip sheets are much lighter than pallets; using them for transportation or storage is much easier. It saves more space compared to traditional pallets, allowing users to export more products. Hence, reduced storage space and a lightweight design of slip sheets help reduce transportation costs. Slip sheets also help reduce fuel emissions as they are lighter to transport than wood pallets. They are easily recyclable, eco-friendly, versatile, and can be used in cold and humid environments. There is a high risk of rodent infestations and contamination from wood pallets. However, due to the slip sheet's thinness, rodents fail to occupy the area under it, leading to a cleaner warehouse. Users can easily discard the slip sheet and avoid contamination buildup over time. Also, slip sheets are becoming highly popular as companies realize their potential for return on investment. Thus, the benefits of using slip sheets over pallets are leading to increased product demand across different end-use industries. Further, tier sheets are made from 100% recycled paper. These sheets are available in different sizes that are compatible with all types of pallets. Tier sheets are durable and can also be used in harsh conditions. Owing to the benefits of tier sheets, the usage of such sheets is growing in the packaging of beverage bottles, cans, containers, consumer goods, industrial goods and parts, processed foods, dairy, and dry goods such as salts, grains, and ingredients. The slip and tier sheet market trends include the growing use of sustainable packaging solutions in shipping and logistics.
There are a few disadvantages associated with the usage of slip sheets. Customers need to buy or rent different equipment to handle slip sheets, as standard forklifts will not work. When slip sheets are used as a direct replacement for pallets, there is a need for a push/pull attachment for the lift truck, which is expensive. Also, the safe handling of such attachments requires expertise and proper training. Further, to some extent, slip sheets are not capable of supporting heavy-duty products. The structural support provided by slip sheets is less than that provided by pallets, and they do not support as much weight as pallets. As a result, they are not a suitable option for companies that ship heavy products. In addition, corrugated slip sheets will be weakened if they come in contact with water and dampness and are, therefore, unsuitable for refrigerated supply chains. These disadvantages associated with using slip sheets restrain the global slip and tier sheet market growth.
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Slip and Tier Sheet Market: Strategic Insights
Market Size Value in US$ 15,96,288.51 thousand in 2022 Market Size Value by US$ 24,99,318.53 thousand by 2028 Growth rate CAGR of 7.8% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Slip and Tier Sheet Market: Strategic Insights
| Market Size Value in | US$ 15,96,288.51 thousand in 2022 |
| Market Size Value by | US$ 24,99,318.53 thousand by 2028 |
| Growth rate | CAGR of 7.8% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Report Segmentation and Scope:
The "Global Slip and Tier Sheet Market Analysis" has been performed by considering the following segments: 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. The geographic scope of the slip and tier sheet market report focuses on North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
Segmental Analysis:
Based on material, the slip and tier sheet market is segmented into kraft paperboard, corrugated fiberboard, high density polyethylene, and others. Based on material, the kraft paperboard segment is anticipated to hold a significant slip and tier sheet market share by 2031. Kraft paperboard is made waterproof by lining it with either polyethylene or an ecologically friendly bitumen layer. It is cost-effective and lightweight; hence, it is used for protecting and packaging products during transportation. Kraft paperboard sheets protect boxed and bagged bulk products against tears and punctures caused by pallet nails and deck boards. Kraft paperboards are used in many applications, including fast food outlets and the production of point-of-sale displays. Corrugated fiberboard is also one of the major materials in the slip and tier sheet market. A corrugated fiberboard is a sandwich structure formed by gluing one or more sheets of fluted, corrugated materials to one or more flat facings of the liner board. Corrugated fiberboard packaging is versatile, economical, lightweight, robust, recyclable, and dynamic. Corrugated fiberboards are usually used for the packaging of consumer goods. They provide better resistance to compressive forces, higher bending stiffness, and greater moisture resistance. The boards are usually custom-designed to meet specific customer requirements.
Regional Analysis:
Based on geography, the market is segmented into five key regions—North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In terms of revenue, North America dominated the global slip and tier sheet market share. The market in North America accounted for ~US$ 650 million in 2023. The market for slip and tier sheets in North America is mainly driven by their increasing use in different end-use industries. According to the Bureau of Transportation Statistics, transborder freight in North America increased by 24.1% in August 2022 compared to August 2021. The growing transborder freight is one of the major factors driving the slip and tier sheet market in North America. Slip and tier sheets are thin materials consuming significantly less space than pallets and weighing much less than pallets. Thus, transportation companies and manufacturers prefer slip and tier sheets over wooden pellets, which fuels the market growth in the region.
Europe is another major contributor, holding more than 30% of the global market share. The Europe slip and tier sheet market is witnessing considerable growth owing to the growth of the logistics industry and the rise in demand for packaging products. According to the European Commission, in 2021, European road freight transport increased strongly by 6.5% compared to 2020. The increased trade activities propel the demand for overall packaging materials across Europe. Moreover, between 2019 and 2021, the average annual demand for pharmaceutical products was the highest for diagnostic testing equipment, medical consumables, medical devices, and protective garments. The significant growth in end-use industries such as pharmaceuticals, agriculture, and retail in Europe is propelling the slip and tier sheet market growth in Europe.
Slip and Tier Sheet Market Report Scope
Industry Developments and Future Opportunities:
The slip and tier sheet market forecast can help stakeholders plan their growth strategies. The following are initiatives taken by the key players operating in the market:
- In September 2023, Sonoco Products Co announced the completion of its 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 further 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 adds 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.
Competitive Landscape and Key Companies:
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 slip and tier sheet market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Material, and End-Use Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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.
Asia Pacific is estimated to register the fastest CAGR in the global slip and tier sheets market over the forecast period. The Asia Pacific region is one of the major regions for the slip and tier sheet market owing to the growth of the retail, food and beverage, pharmaceuticals, consumer electronics, and many other industries.
In 2023, North America held the largest share of the global slip and tier sheets market. In North America, the market for slip and tier sheets is mainly driven by their increasing use in different end-use industries.
The slip and tier sheet market growth is attributed to the increase in the use of slip and tier sheets in various industries and the growth of the e-commerce & logistics sector.
The food and beverage segment held the largest share of the global slip and tier sheets market in 2023. Slip and tier sheets are mainly used in the food & beverages industry as a replacement for traditional wooden pallets to avoid damage.
The List of Companies - Slip and Tier Sheet Market
- 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
- Sonoco Products
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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