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High Impact PolyStyrene (HIPS) Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports
High Impact PolyStyrene (HIPS) Market SizeThe global market for High Impact PolyStyrene (HIPS) was estimated to be worth US$ 1318.2 million in 2023 and is forecast to a readjusted size of US$ 1722.2 million by 2030 with a CAGR of 3.9% during the forecast period 2024-2030
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Sustainability and Recycling: Sustainability concerns are driving the demand for HIPS made from recycled or biodegradable materials. Manufacturers are exploring eco-friendly alternatives to traditional HIPS and adopting recycling practices to reduce waste.
Packaging Industry: HIPS is widely used in the packaging industry for applications such as food containers, blister packs, and disposable tableware. The growth of the packaging sector, driven by e-commerce and convenience packaging, is boosting HIPS demand.
Consumer Electronics: HIPS is used in consumer electronics for casings, housings, and structural components due to its excellent impact resistance and ease of customization. The consumer electronics market's growth is driving the need for HIPS materials.
Automotive Applications: HIPS is used in automotive interiors for trim, panels, and various components. As the automotive industry evolves with electric vehicles and advanced materials, HIPS continues to find applications in both traditional and electric vehicle models.
By Type
• Extrusion Molding HIPS
• Injection Molding HIPS
By Application
• Packaging
• Electronic Appliances
• Consumer Products
• Construction
Key Companies
Styrolution, Total Petrochemicals, Trinseo, Eni, CHIMEI, Formosa, Petrochemicals(Malaysia) Sdn Bhd, KKPC, SUPREME PETROCHEM, King Plastic Corporation, LG Chem, Taita Chemical, Grand Pacific Petrochemical, Zhengjiang CHIMEI, Total(China), SECCO, Formosa Plastics(Ningbo), BASF-YPC, RASTAR, Astor Chemical Industrial, SINOPEC(Guangdong)
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