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A04283 | Pages: 124 | Charts: 63 | Tables: 106 |
The global polypropylene & high-impact polystyrene market was valued at $49.6 billion in 2021, and is projected to reach $81.1 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.
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Injection molding involves the production of plastic products by injecting molten materials into a mold, where it is melted, cooled, and solidified to form the final product. Thermoplastic as well as thermosetting injection-molded plastics are used for the production of several parts and components that are used in various applications. The prime thermoplastic polymers used in injection molding, include polypropylene, high impact polystyrene, low density polyethylene, high density polyethylene, polycarbonate, polystyrene, polyvinyl chloride, polyurethane, and polysulphone. In addition, epoxy resin, polyester, and melamine formaldehyde are some of the prominent thermosetting polymers used for injection molding. There is an increase in the demand for injection-molded plastics in the market over the last decade.
Injection-molded plastics are used in the production of complex and intricate-shaped parts to ensure precision and minimize wastage. Hence, injection-molded plastics are used in the production of automotive components, interior wrapping, and numerous assembly parts. It is majorly used in packaging applications to manufacture packaging parts and components to increase the aesthetic value and consumer friendliness of packaging products. Popularity of injection-molded plastics in building and construction applications is on the rise, owing to strength, durability, and texture of the injection-molded plastic parts. These plastic parts or components are mainly used in building and construction, for piping systems, insulations, wall boards, and roofing purposes. The healthcare industry is anticipated to be the fastest growing application segment for injection-molded plastic industry during the forecast period. Moreover, blood sample analysis cuvettes, pregnancy test devices, housings for needles, and medical devices components are the other application areas of these plastics, owing to their light weight and cost-effectiveness.
Injection-molded polypropylene and high-impact polystyrene use automated processes to reduce the manufacturing cost. It also reduces the waste production in production process. Factors such as low production waste and faster production process boost the growth of the polypropylene & high-impact polystyrene market for injection molding market. Furthermore, technological advancements in injection molding process, where robots are deployed for performing different operations, such as finishing and assembling injection-molded parts and loading components into the injection molding are expected to foster the growth of the market. However, high initial tooling cost and volatile prices of crude oil are projected to hamper the growth of the market.
The polypropylene & high-impact polystyrene market for injection molding is segmented on the basis of material, application, and region. By material, the market is segregated into polypropylene and high-impact polystyrene. On the basis of application, it is fragmented into consumer goods & electronics, household, packaging, horticulture & agriculture, construction, automotive, textile, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include LyondellBasell, SABIC, Exxon Mobil Corporation, INEOS, KISCO LTD., Innova, Resilient Plastics Pvt. Ltd., King Plastic Corporation, China Petroleum & Chemical Corporation (Sinopec Limited), and Khushi Enterprises. The global polypropylene & high-impact polystyrene market for injection molding report provides in-depth competitive analysis as well as profiles of these major players
[MATERIALGRAPH]
By material, the polypropylene segment accounted for around 90.0% of the global polypropylene & high-impact polystyrene market for injection molding share in 2021. Polypropylene is the most popular plastic used for packaging materials globally. Polypropylene has a relatively slippery surface, which can make it a possible substitute for plastics such as Acetal (POM) in low friction applications like gears or for use as a contact point for furniture.
[APPLICATIONGRAPH]
On the basis of application, the automotive segment accounted for around 24.9% of the global polypropylene & high-impact polystyrene market for injection molding share in 2021. The low density and recyclability properties are expected to drive the use of polypropylene and high impact polystyrene in the automotive industry during the forecast period.
[REGIONGRAPH]
Region-wise, the Asia-pacific segment accounted for around 55.6% of the polypropylene & high-impact polystyrene market for injection molding share in 2021. Polypropylene’s can be engineered into a wide range of packaging that help protect products users rely on every day, from medicine to yogurt to baby food. High-impact Polystyrene (HIPS) is a low cost, tough plastic that is easy to thermoform and fabricate, and is often used for countertop point of purchase displays and indoor signs where ease of fabrication is essential.
Impact of COVID-19 on Global Polypropylene & High-impact Polystyrene Market for Injection Molding
Key Market Segments
Key Market Players