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Global High-Impact Polystyrene (HIPS) Market Share, Size, Growth, Analysis, Forecast: By Melt Flow Index (gm/10 min): 3.0, 5.5, 8.0, 8.5, 9, 10, Others; By Application: Appliances, Toys, Electrical & Electronics, Stationery Disposables, Masterbatches, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2023-2028

Global High-Impact Polystyrene (HIPS) Market Outlook

The global high-impact polystyrene (HIPS) market is expected to grow at a CAGR of 5.40% between 2023 and 2028, driven by the versatility of (HIPS), and rising applications the in food service industry.

 

Key Trends in the Market

High-impact polystyrene (HIPS), also referred as polystyrene, is a thermoplastic material which can be made in several grades, colours, and sizes. HIPS is versatile, stiff, with high tensile strength. It is used in low heat applications with applications in various industrial and commercial sectors as it is easy to mould and fabricate. 

 

  • The global high-impact polystyrene market growth is being propelled by the versatility of HIPS which makes it applicable in number of industries. It has a high tensile and impact strength, along with easy manufacturability, which is a major advantage.
  • The heightened demand for high-impact polystyrene in the automotive industry to manufacture gas tanks is a crucial market driving factor. With increase in production of vehicles, the demand for HIPS will consequently rise.
  • The increasing application of high-impact polystyrene in the food delivery industry is another crucial market propelling factor. It is ideal for producing drinking cups owing to its high tolerance to hot or cold liquid. Over the forecast period, the anticipated increase in expansion of the food and beverage industry is expected to bolster the high-impact polystyrene market growth.

 

Market Analysis

Based on melt flow index (gm/10min), the market can be segmented into 3.0, 5.5, 8.0, 8.5, 9, and 10, among others. On the basis of application, the market can be classified into appliances, toys, electrical & electronics, stationery disposables, and masterbatches, among others. The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. 

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global high-impact polystyrene (HIPS) market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

 

  • Ineos Styrolution
  • LG Chem
  • Zheziang Polymers
  • Formosa Plastics
  • Supreme Petrochem
  • Trienso
  • Others

 

Market Share by Application

High-impact polystyrene (HIPS) is a highly versatile product which has applications across various end use industries, among which, the appliances segment accounts for a significant share. HIPS is used to make appliances used in industries such as automotive, construction, and printing, among others, which is a major driving factor of the high-impact polystyrene (HIPS) market. 

 

Additionally, HIPS is used in the manufacturing of point-of-sale displays, printed graphics, models, tools, and prototypes, fixtures, and kiosks which are witnessing a heightened demand owing to the thriving retail and packaging industry. HIPS is an excellent insulator and can be processed easily, which also makes it applicable in the electrical and electronics industry. Over the forecast period, the anticipated increase in application of high-impact polystyrene in high-end electronics such as television, is expected to escalate the market numbers. 

 

Market Share by Region

Based on region, Asia Pacific holds a healthy share in the high-impact polystyrene (HIPS) market. The growing expansion of end use industries of HIPS, including automotive, construction, and electrical and electronics, in emerging economies, such as India and China, is a major market driver. High-impact polystyrene is also used in the manufacturing of gas tanks of automobiles. In this regard, the increasing sale of passenger and commercial cars is further propelling the product’s demand in this region. The presence of local manufacturers, especially in the South Asian region, is another key driving factor for the market for high-impact polystyrene. 

 

Competitive Landscape

Ineos Styrolution is a leading chemical products manufacturing company which was founded in the year 2011 and headquartered in Frankfurt, Germany. A top supplier of styrenics globally, the company focuses on an innovative approach that prioritises research and development excellence. Ineos Styrolution provides chemical solutions to various end use industries including electronics, automotive, construction, households, and healthcare, among others. 

 

LG Chem, headquartered in Seoul, South Korea, is one of the world’s largest chemical companies. The company was founded in 1947 and has a vast portfolio that comprises of petrochemicals, batteries, life sciences, and advanced materials. LG Chem produces petrochemicals and specialty polymers which are high in demand across the industrial sector. 

 

Zheziang Polymers was established in the year 1989 and is a prominent engineered products manufacturer and marketer. Production of polymers is one of the key areas of this company and caters to the demands of various end use industries including automobile, aerospace, electrical and electronics, and interior products, among others. Zheziang Polymers is currently headquartered in Xinchang, China. 

 

Other market players include Formosa Plastics, Supreme Petrochem, and Trienso, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Melt Flow Index (gm/10 min)
  • Application
  • Region
Breakup by Melt Flow Index (gm/10 min)
  • 3.0
  • 5.5
  • 8.0
  • 8.5
  • 9
  • 10
  • Others
Breakup by Application
  • Appliances
  • Toys
  • Electrical & Electronics
  • Stationery Disposables
  • Masterbatches
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Ineos Styrolution
  • LG Chem
  • Zheziang Polymers
  • Formosa Plastics
  • Supreme Petrochem
  • Trienso
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global High-Impact Polystyrene (HIPS) Market Analysis

    8.1    Key Industry Highlights
    8.2    Global High-Impact Polystyrene (HIPS) Historical Market (2018-2022) 
    8.3    Global High-Impact Polystyrene (HIPS) Market Forecast (2023-2028)
    8.4    Global High-Impact Polystyrene (HIPS) Market by Melt Flow Index (gm/10 min)
        8.4.1    3.0
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    5.5
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    8.0
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    8.5
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2022)
            8.4.4.3    Forecast Trend (2023-2028)
        8.4.5    9
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2018-2022)
            8.4.5.3    Forecast Trend (2023-2028)
        8.4.6    10
            8.4.6.1    Market Share
            8.4.6.2    Historical Trend (2018-2022)
            8.4.6.3    Forecast Trend (2023-2028)
        8.4.7    Others
    8.5    Global High-Impact Polystyrene (HIPS) Market by Application
        8.5.1    Appliances
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Toys
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Electrical & Electronics
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
        8.5.4    Stationery Disposables
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2018-2022)
            8.5.4.3    Forecast Trend (2023-2028)
        8.5.5    Masterbatches
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2018-2022)
            8.5.5.3    Forecast Trend (2023-2028)
        8.5.6    Others
    8.6    Global High-Impact Polystyrene (HIPS) Market by Region
        8.6.1    North America
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022) 
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Europe
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022) 
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Asia Pacific
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022) 
            8.6.3.3    Forecast Trend (2023-2028)
        8.6.4    Latin America
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2018-2022) 
            8.6.4.3    Forecast Trend (2023-2028)
        8.6.5    Middle East & Africa
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2018-2022) 
            8.6.5.3    Forecast Trend (2023-2028)
9    North America High-Impact Polystyrene (HIPS) Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe High-Impact Polystyrene (HIPS) Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific High-Impact Polystyrene (HIPS) Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Bangladesh
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America High-Impact Polystyrene (HIPS) Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Mexico
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Argentina
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa High-Impact Polystyrene (HIPS) Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    South Africa
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    Nigeria
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Price Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Ineos Styrolution
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    LG Chem
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Zheziang Polymers
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Formosa Plastics
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Supreme Petrochem
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Trienso
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global High-Impact Polystyrene (HIPS) Market: Key Industry Highlights, 2018 and 2028
2.    Global High-Impact Polystyrene (HIPS) Historical Market: Breakup by Melt Flow Index (USD Million), 2018-2022
3.    Global High-Impact Polystyrene (HIPS) Market Forecast: Breakup by Melt Flow Index (USD Million), 2023-2028
4.    Global High-Impact Polystyrene (HIPS) Historical Market: Breakup by Application (USD Million), 2018-2022
5.    Global High-Impact Polystyrene (HIPS) Market Forecast: Breakup by Application (USD Million), 2023-2028
6.    Global High-Impact Polystyrene (HIPS) Historical Market: Breakup by Region (USD Million), 2018-2022
7.    Global High-Impact Polystyrene (HIPS) Market Forecast: Breakup by Region (USD Million), 2023-2028
8.    North America High-Impact Polystyrene (HIPS) Historical Market: Breakup by Country (USD Million), 2018-2022
9.    North America High-Impact Polystyrene (HIPS) Market Forecast: Breakup by Country (USD Million), 2023-2028
10.    Europe High-Impact Polystyrene (HIPS) Historical Market: Breakup by Country (USD Million), 2018-2022
11.    Europe High-Impact Polystyrene (HIPS) Market Forecast: Breakup by Country (USD Million), 2023-2028
12.    Asia Pacific High-Impact Polystyrene (HIPS) Historical Market: Breakup by Country (USD Million), 2018-2022
13.    Asia Pacific High-Impact Polystyrene (HIPS) Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Latin America High-Impact Polystyrene (HIPS) Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Latin America High-Impact Polystyrene (HIPS) Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Middle East and Africa High-Impact Polystyrene (HIPS) Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Middle East and Africa High-Impact Polystyrene (HIPS) Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Global High-Impact Polystyrene (HIPS) Market Structure

Key Questions Answered in the Report

The market is estimated to grow at a CAGR of 5.4% in the forecast period of between 2023 and 2028.

The versatility of high-impact polystyrene (HIPS), thriving end use industries including appliances, automotive, and construction, and rising application of HIPS in the food service industry, are the major drivers of the high-impact polystyrene (HIPS) market.

The key trends in the market include the growing demand for durable and strong polymers in the packaging industry and increasing developments in HIPS production with new variations.

The different segments of the market for high-impact polystyrene (HIPS) based on melt flow index (gm/10min) are 3.0, 5.5, 8.0, 8.5, 9, and 10, among others.

Appliances, toys, electrical & electronics, stationery disposables, and masterbatches, among others, are the significant applications of high-impact polystyrene.

Properties of high-impact polystyrene (HIPS) include good electrical insulation, easy machinability, strong impact resistance, and low cost of production.

High-impact polystyrene (HIPS) contains 5-10% rubber which increases its toughness and impact strength.

High-impact polystyrene (HIPS) is different from polystyrene as it is blended with rubber, which enhances its impact strength.

Ineos Styrolution, LG Chem, Zheziang Polymers, Formosa Plastics, Supreme Petrochem, and Trienso, among others, are the key market players, according to the report.

North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, are the major regional markets.

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