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Polypropylene & High-impact Polystyrene Market Likely to Emerge Over a Period at a CAGR of 4.3% 2017-2023
Polypropylene & High-impact Polystyrene Market
The major companies profiled in this report are LyondellBasell, SABIC, Exxon Mobil Corporation, DuPont, INEOS, Total S.A., China Petrochemical Corporation, LG Chem, King Plastic Corporation, and Astor Chemical Industrial (jiangsu) CO.,LTD.
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Injection molding is a mass production process in which similar plastic components are produced in a large quantity. Both the thermoplastic and thermosetting plastics can be used in the injection molding process. The injection-molded polypropylene & high-impact polystyrene is largely used in packaging applications to manufacture packaging parts and components to increase the aesthetic value and consumer friendliness of the packaging products. Furthermore, injection-molded polypropylene & high-impact polystyrene is majorly used in building and construction, owing to strength, durability, and texture of the injection-molded plastic parts. In building and construction, these polypropylene & high-impact polystyrene parts or components are mainly used for piping systems, insulations, wall boards, and roofing purposes. Factors such as low production waste and faster production process is projected to augment the growth of the injection-molded polypropylene & high-impact polystyrene market.
Based on material, the market is segmented into polypropylene and high-impact polystyrene. The high-impact polystyrene segment is estimated to grow at the highest CAGR during the forecast period, owing to the high consumption in consumer goods industry. In consumer goods industry, the high-impact polystyrene is used in the production of refrigerator linings, vending cups, bathroom cabinets, toilet seats & tanks, closures, instrument control knobs, television, and others.
Based on application the market is segmented into consumer goods & electronics, household, packaging, horticulture & agriculture, construction, automotive, textile and others. The construction industry is the largest consumer of injection-molded polypropylene & high-impact polystyrene, owing to its inherent strength, economical nature, and easy of recyclability. Polypropylene, which is a thermoplastic polymer, is used widely in building and construction applications such as siding, air and moisture barrier membranes, carpet textiles, piping, and others.
In 2016, North America and Europe collectively accounted for more than 65% of the global polypropylene & high-impact polystyrene market for injection molding industry, in terms of value.
The packaging industry also majorly contributes to the growth of the injection-molded polypropylene & high-impact polystyrene, as these polystyrenes enhance the quality of packaging. Automobile sector in the North American and European regions is one of the large users of the polypropylene & high-impact polystyrene components. Furthermore, European legal framework and strategies foster the widespread use of injection-molded polypropylene & high-impact polystyrene products in various industries and provide growth opportunities for the market.
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Key Benefits for Stakeholders
• Porters Five Force's analysis helps analyze the potential of buyers and suppliers and the competitive scenario of the industry for strategy building.
• It outlines the current trends and future scenario of the polypropylene & high-impact polystyrene market for injection molding from 2017 to 2023 to understand the prevailing opportunities and potential investment pockets.
• Major countries in each region are mapped according to their individual revenue contribution to the global/regional market.
• An in-depth analysis of the current research & clinical developments within the market is provided along with the key dynamic factors.
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
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