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.
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.
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.
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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.
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
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)
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By Region North America The U.S. Canada Mexico Europe Western Europe The UK Germany 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
Key questions answered in the global chemical market report are:
— How does a global company acquire markets? — What are its core strategies and policies? — What factors will influence the chemical market over the forecast period? — What are the factors driving and restraining the market for chemicals? — What are the leading competitors in the global market? — Which region is growing at a higher pace in the global market?
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