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Global High-Impact Polystyrene (HIPS) Market Forecast: By Melt Flow Index (gm/10 min): 3.0, 8.0, 10, Others; By Application: Appliances, Toys, Electrical & Electronics, Stationery Disposables, Masterbatches, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global High-Impact Polystyrene (HIPS) Market Outlook
The global high-impact polystyrene (HIPS) market size is projected to grow at a CAGR of 5.3% between 2024 and 2032.
Key Takeaways:
- Europe constituted a 15.9% share of the global car production.
- The Bureau of Transportation Statistics notes a surge in US bicycle demand led to increasing imports. Bicycle import value soared, thus, driving the global high-impact polystyrene (HIPS) market for bicycle trailer production.
- HIPS finds utility in marketing through point-of-sale displays, trays, and signage, alongside its use in thermoformed machine parts and model making, boosting its versatility across applications.
High-impact polystyrene (HIPS), a variant of general-purpose polystyrene with added rubber, boasts a wide array of properties, leading to diverse applications. Its strength and durability make it a preferred choice for marketing displays, trays, and promotional signs.
As per the global high-impact polystyrene (HIPS) market analysis, high-impact polystyrene (HIPS) finds applications in thermoformed machine components, model construction, and plastic toy manufacturing. Moreover, it is prevalent in creating bathroom fixtures, appliance parts, audio-visual equipment, recording tape cassettes, bicycle trailers, automotive components such as instrument panels and fittings, gasoline tanks, as well as in the food service sector for hot and cold beverage cups.
The Bureau of Transportation Statistics reported a rising demand for bicycles in the US, correlating with an uptick in bicycle imports. The total value of non-motorized bicycle imports surged by more than 18,000%, from 0.5 USD million in 2020 to 1.0 USD billion in 2023, consequently fuelling the global high-impact polystyrene (HIPS) market growth.
Key Trends and Developments
The global high-impact polystyrene (HIPS) market is expanding due to the growth in the food delivery industry, construction, and automotive sector, and demand for household appliances and toys.
December 2023
Processing Technologies International LLC unveiled its entry into the high-speed extruder market with Super-G extruders designed for polypropylene (PP) and high-impact polystyrene (HIPS) in packaging applications.
November 2023
The Sri Lankan cabinet ministers introduced a QR code deposit refund system for PET and HIPS containers, wherein sellers collect a temporary cash deposit at the time of purchase, which is reimbursed upon the return of empty bottles.
September 2023
Trinseo, a speciality material solutions provider, and its affiliate companies in Europe had announced a price increase for all polystyrene (PS), ABS, HIPS, and SAN grades.
July 2023
The German waste management company EGN, Norwegian equipment supplier Tomra, and the British chemical company INEOS had announced intentions to work together on a facility aimed at recycling polystyrene for food packaging applications.
Food delivery industry
As per the global high-impact polystyrene (HIPS) market analysis, high-impact polystyrene has become popular in packaging thanks to its lightweight, ability to insulate, and affordability. With the rising need for packaged food and beverages, it is especially suited for making drinking cups.
Construction and building sector
Polystyrene products are widely employed in construction for their insulating qualities. HIPS plays a role in producing construction materials like wall panels, ceiling tiles, and insulation boards due to its excellent thermal insulation capabilities.
Growing automotive sector
HIPS finds application in crafting diverse automotive components like interior trim parts, instrument panels, and exterior body parts. Its attributes of being lightweight, impact-resistant, and easy to work with render it an ideal material for such purposes, thus propelling the growth of the global high-impact polystyrene (HIPS) industry.
Household appliances and toys
HIPS is extensively employed in producing consumer goods like toys, household appliances, and office supplies. Its excellent impact strength and rigidity make it a fitting choice for applications demanding durability and dimensional stability, thereby driving the global high-impact polystyrene (HIPS) market.
Global High-Impact Polystyrene (HIPS) Market Trends
As per the global high-impact polystyrene (HIPS) market report, the market is propelled by rising environmental awareness and a focus on sustainability. HIPS, being recyclable, stands out as an appealing option across industries. The anticipated growth is fuelled by government regulations promoting eco-friendly materials.
HIPS is ideal for marketing, seen in point-of-sale displays, trays, and signage. It's also used in thermoformed machine parts, and model making, enhancing its appeal and versatility in various applications.
Market Segmentation
Global High-Impact Polystyrene (HIPS) Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Melt Flow Index (gm/10 min)
- 3.0
- 8.0
- 10
- Others
Market Breakup by Application
- Appliances
- Toys
- Electrical & Electronics
- Stationery Disposables
- Masterbatches
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
With a melt flow index (MFI) of 3.0, the global high-impact polystyrene (HIPS) market is thriving, particularly for applications requiring a balance of flowability and other desired properties
With a melt flow index (MFI) of 3.0, HIPS is used to manufacture automotive parts, household appliances, packaging, and various other items.
Meanwhile, an MFI of 10 makes HIPS ideal for applications demanding a higher flow rate, facilitating efficient production of pipes, sheets, or films with consistent profiles.
Based on application, the global high-impact polystyrene (HIPS) market share is led by appliances, particularly in the production of shells for electrical household appliances
In appliance manufacturing, HIPS is chosen for its excellent impact strength and rigidity, ideal for applications needing durability and dimensional stability.
It is commonly used as a casing for electrical and electronic equipment due to its high dimensional stability and moisture resistance.
Competitive Landscape
Ineos AG, established in 2011 and headquartered in Germany, is a leading manufacturer of chemical products, particularly styrenics. Known for its global supply of styrenics, the company emphasizes innovative research and development. It serves various industries such as electronics, automotive, construction, households, and healthcare with chemical solutions.
LG Chem, founded in 1947 and based in South Korea, stands as one of the largest chemical companies worldwide. With a diverse portfolio spanning petrochemicals, batteries, life sciences, and advanced materials, LG Chem is a key producer of petrochemicals and speciality polymers highly sought after in the industrial sector.
Primex Plastics Corporation, established in 1965 and headquartered in the United States, a subsidiary of ICC Industries, Inc., stands as the leading custom polystyrene sheet extruder globally. They produce a wide array of products, from monolayer sheets to tri-layer co-extrusions, in addition to extruding various polyethene resins, polypropylene, ABS, TPOs, TPEs, and PETG.
Formosa Chemicals & Fibre, founded in 1978 and based in Taiwan, is a major plastics company focusing on polyvinyl chloride resins and other intermediate plastic products. It is a conglomerate with interests spanning biotechnology, petrochemical processing, and the production of electronic components.
Other key players in the global high-impact polystyrene (HIPS) market include Supreme Petrochem Ltd, Trienso, Adinath Polymers, and Americas Styrenics LLC (AmSty) among others.
Global High-Impact Polystyrene (HIPS) Market Analysis by Region
The Asia Pacific holds a significant portion of the global high-impact polystyrene (HIPS) market. The market's growth is driven by the expanding presence of HIPS in various end-use industries like automotive, construction, and electrical and electronics, particularly in emerging economies such as India and China.
High-impact polystyrene is also utilized in the fabrication of automobile gas tanks. The rising sales of both passenger and commercial vehicles are driving up the demand for this product in Europe. The EU stands as one of the largest producers of motor vehicles globally, with the sector being a leading private investor in research and development (R&D).
According to the European Automobile Manufacturers Association, Europe accounted for 15.9% of global car production, thereby boosting the global high-impact polystyrene (HIPS) market growth.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Melt Flow Index (gm/10 min) |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*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 (2018-2023)
8.3 Global High-Impact Polystyrene (HIPS) Market Forecast (2024-2032)
8.4 Global High-Impact Polystyrene (HIPS) Market by Melt Flow Index (gm/10 min)
8.4.1 3.0
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 8.0
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 10
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global High-Impact Polystyrene (HIPS) Market by Application
8.5.1 Appliances
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Toys
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Electrical & Electronics
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Stationery Disposables
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Masterbatches
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global High-Impact Polystyrene (HIPS) Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East & Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America High-Impact Polystyrene (HIPS) Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe High-Impact Polystyrene (HIPS) Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific High-Impact Polystyrene (HIPS) Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Bangladesh
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America High-Impact Polystyrene (HIPS) Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Mexico
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Argentina
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa High-Impact Polystyrene (HIPS) Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 South Africa
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Nigeria
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
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 AG
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 Primex Plastics Corporation
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 Chemicals & Fibre Corp
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 Ltd.
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 Adinath Polymers
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Americas Styrenics LLC (AmSty)
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 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 2032
2. Global High-Impact Polystyrene (HIPS) Historical Market: Breakup by Melt Flow Index (USD Million), 2018-2023
3. Global High-Impact Polystyrene (HIPS) Market Forecast: Breakup by Melt Flow Index (USD Million), 2024-2032
4. Global High-Impact Polystyrene (HIPS) Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global High-Impact Polystyrene (HIPS) Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global High-Impact Polystyrene (HIPS) Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global High-Impact Polystyrene (HIPS) Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America High-Impact Polystyrene (HIPS) Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America High-Impact Polystyrene (HIPS) Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe High-Impact Polystyrene (HIPS) Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe High-Impact Polystyrene (HIPS) Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific High-Impact Polystyrene (HIPS) Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific High-Impact Polystyrene (HIPS) Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America High-Impact Polystyrene (HIPS) Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America High-Impact Polystyrene (HIPS) Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa High-Impact Polystyrene (HIPS) Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa High-Impact Polystyrene (HIPS) Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global High-Impact Polystyrene (HIPS) Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 5.3% between 2024 and 2032.
The high-impact polystyrene (HIPS) market is expanding due to growth in the food delivery industry, construction, and automotive sectors, and demand for household appliances and toys.
The market is categorised according to its Melt Flow Index (gm/10 min)- 3.0, 8.0, 10 and Others.
The market players are Ineos AG, LG Chem, Primex Plastics Corporation, Formosa Chemicals & Fibre, Supreme Petrochem Ltd, Trienso, Adinath Polymers, and Americas Styrenics LLC (AmSty) among others.
The major market areas include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Based on the application, the end use is divided into appliances, toys, electrical & electronics, stationery disposables, masterbatches and others.
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