Report Ocean presents a comprehensive research report on Polypropylene & High-impact Polystyrene, analyzing markets in 150+ countries. With access to 1,00000+ annual reports, subject matter experts ensure accuracy. Methods like S.W.O.T., P.E.S.T.E.L., and regression analysis forecast growth. The report covers regulations, research tech, innovation, and future trends in Polypropylene & High-impact Polystyrene.
The global polypropylene & high-impact polystyrene market size was US$ 47.6 billion in 2021. The global polypropylene & high-impact polystyrene market is expected to grow to US$ 71.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 7.1% during the study period from 2022 to 2030.
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Plastic items are created via the injection moulding process by injecting molten materials into a mould. In this process, the items are melted, cooled, and solidified to create the finished product. Many parts and components used in many applications are produced using thermoplastic and thermosetting injection-moulded polymers. Polypropylene, high-impact polystyrene, low-density and high-density polyethylene, polycarbonate, polystyrene, polyvinyl chloride, polyurethane, and polysulphone are some of the most common thermoplastic polymers used in injection moulding.
Factors Influencing the Market
Injection-moulded plastics find applications in the production of complex and intricate-shaped parts, such as automotive components, interior wrapping, and numerous assembly parts. Additionally, it is also used in the packaging industry to manufacture packaging parts. Other factors, like the growing popularity of injection-moulded plastics in building and construction applications and rising demand for aesthetic packaging, are projected to boost the market growth.
The global polypropylene & high-impact polystyrene market is forecasted to gain substantial traction due to its benefits, such as high strength, durability, lightweight, cost-effectiveness, and texture. Further, the fact that injection-moulded plastics ensure precision and also reduces wastage will contribute to the growth of the polypropylene & high-impact polystyrene market during the analysis period.
COVID-19 Impact Analysis
Due to the COVID-19 pandemic, the end-use industries of the polypropylene & high-impact polystyrene market, such as construction, automotive, textile, etc., recorded a significant loss. As a result, it hampered the growth of the other linked industries like polypropylene & high-impact polystyrene market. Moreover, manufacturing disruption was another reason behind the revenue fall-off. Various industry players shut their doors for a prolonged period to stay inclined with the rules of the governments. Therefore, it hampered the growth of the polypropylene & high-impact polystyrene market.
Regional Analysis
Region-wise, the Asia-Pacific polypropylene & high-impact polystyrene market is projected to emerge as the largest market owing to the presence of a wide automotive, textile, and packaging industry. Further, products like medicine, yogurt, and baby food can all be packaged using polypropylene to help protect them from the elements. High-impact Polystyrene (HIPS) is a low-cost, durable plastic that is simple to thermoform and fabricate. It is frequently used for indoor signs and countertop point-of-purchase displays since it is so simple to manufacture. Thus, it will drive the growth of the Asia-Pacific polypropylene & high-impact polystyrene market during the analysis period.
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Competitors in the Market
China Petroleum & Chemical Corporation (Sinopec Limited)
Exxon Mobil Corporation
INEOS Group Holdings S.A
King Plastic Corporation
LG Chem Ltd
LyondellBasell Industries Holdings, B.V
Khushi Enterprises
Innova, KISCO LTD.
SABIC
Other Prominent Players
Market Segmentation
The global polypropylene & high-impact polystyrene market segmentation focuses on Application, Material, and Region.
By Application
Household
Packaging
Horticulture and Agriculture
Construction
Automotive
Textile
Others
Consumer Goods and Electronics
By Material
Polypropylene
High-impact Polystyrene (HIPS)
By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
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France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
FAQs:
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Any regional variations?
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