Press release
High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market to Witness Robust Expansion by 2023
High impact polystyrene, or HIPS, is a versatile plastic resin used in the manufacture of numerous products. Easy to fabricate, this resilient material costs little to produce and offers applications in many industries. Its physical properties permit flexible machining and surface applications such as paints and adhesives. The material can be used as packaging filler, pressed into board, molded into products, or delivered on sheets or rolls. Its characteristic dimensional stability permits it to be employed in low strength construction and in its natural translucent form makes it suitable for food processing applications.
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Global High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market: Forecast by Type / Application / Region
First, for industry structure analysis, the HIPS for opaque rigid medical packaging industry is fragmented, but still more concentrated compared with the whole HIPS industry. Europe is the biggest production base of HIPS for opaque rigid medical packaging, followed by USA. The market shares in emerging markets are not high, but in fast growth.
Second, for production, the global production HIPS for opaque rigid medical packaging has reached 120 K MT by the end of year 2014, with annual growth rate around 2~4% during the past years. Despite the market of rigid medical packaging industry has been mature for many years, the development of HIPS in medical and health care industries is promising.
Third, for the market, the global HIPS for opaque rigid medical packaging market is worth over $250 mn, according to our survey. Actually, the overcapacity in HIPS might not be a good news to the investors, but still, its high performance in hit resistance and acceptable price compared with engineering plastics makes it still promising in the future.
Fourth, for price trend analysis, a key variable in the performance of HIPS for opaque rigid medical packaging producers is raw material costs, specifically the speed at which any increase can be passed through to customers. The price of the major raw material PolyStyrene varies according to the crude oil price. This year, as the downturn of global crude oil industry, the HIPS price would keep decreasing for at least the following 5 years.
Fifth, for trade analysis, the import and export business of HIPS for opaque rigid medical packaging is frequent, with EU, USA and the leading exporter. The import business in Asia countries are frequent and local demand cannot be met with the production.
Sixth, for forecast, the global HIPS for opaque rigid medical packaging industry would keep increasing with annual growth rate with 1~3%, and a little higher speed in China. We tend to believe this industry now is now in fast development, and the demand increasing degree will show a smooth curve.
Over the next five years, LPI(LP Information) projects that High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging will register a -7.2% CAGR in terms of revenue, reach US$ 130 million by 2023, from US$ 200 million in 2017.
Global High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market: Key Players
Styrolution
Total Petrochemicals
Trinseo
Versalis
SABIC
KKPC
PS Japan
CHIMEI
King Plastic Corporation
Hong Kong Petrochemical
Formosa
LG Chem
Total(China)
Zhengjiang CHIMEI
Formosa Plastics (Ningbo)
Astor Chemical Industrial
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Related Information:
United States High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market Research Report 2018
Europe High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market Research Report 2018
North America High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market Research Report 2018
Asia-Pacific High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market Research Report 2018
China High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market Research Report 2018
EMEA High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market Research Report 2018
Global High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market Research Report 2018
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