Acknowledging the kind of traction gained by this market, recently published a study report asserts the global High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of around 5.1% during the review period (2022 to 2027).
High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market Overview
High impact polystyrene, or HIPS, is a multipurpose plastic resin used in the manufacture of many products. Easy to fabricate, this resilient material costs little to manufacture and offers applications in several industries. Their physical property allows flexible machining and surface applications for example 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 constancy allows it to be employed in low strength construction and in its natural translucent form makes it suitable for food processing applications.
High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging is a plastic material used to provide the highest durability and impact resistance. The process of making this type of packaging is quite similar to standard injection molding but with faster heating and cooling cycle times. This allows one-shot processing in forming complex parts without using any adhesives or fasteners during assembly. High Impact Polystyrene (HIPS) for the opaque rigid medical packages can be recycled.
In terms of product, Extrusion Molding is the major segment, with a share of about 55%. And in terms of application, the major application is Packaging For Economical Medical Devices, followed by Work-in-progress Trays, Thermoformed Pharmaceutical Packaging, etc.
Industry News:
Trinseo Launches MAGNUM™ BIO ABS for Automotive Applications
Trinseo (NYSE: TSE), a global materials solutions provider and manufacturer of plastics and latex binders, announced today the launch of a more sustainable version of its established MAGNUM™ ABS resins for automotive applications.
During polymerization, fossil-based polymers are combined with renewable raw materials according to a mass balance process, resulting in MAGNUM™ BIO ABS resins with up to 80% bio-attributed content, based on the ISCC Mass Balance approach. Trinseo strives to use second generation waste such as used kitchen oil and residue from the pulp industry that do not compete with the food chain and are consistent with a sustainable food future. Because the renewable raw materials become identical in chemical composition to their fossil-based counterparts during feedstock cracking, segregation during manufacturing is unnecessary. The material is structurally and functionally the same as its fossil-based counterpart and can be used with existing tooling and equipment under the same processing conditions, meaning there is no need for requalification, all while offering a significantly lower CO2 footprint.
What are the major Applications, Types, and Regions for High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market?
High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market is segmented based on the type, applications, companies and regions.
By Type, it is segmented into
- Extrusion Molding
- Injection Molding
- Others
By Applications, it is segmented into
- Work-in-progress Trays
- Thermoformed Pharmaceutical Packaging
- Packaging For Economical Medical Devices
- Other
High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market Regional Analysis
Global High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging key players include Styrolution, Total Petrochemicals, Trinseo, Versalis, SABIC, etc. Global top five players hold a share about 80%.
Europe is the largest market, with a share about 40%, followed by North America and China, having a total share about 45 percent.
All these factors greatly affect the High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging market growth. It further aims at providing complete overview on detailed assessment of significant features of different industries including sales volume, market revenue, and demand size, sales growth, pricing analysis and changing market growth factors in regions such as Follows,
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
The High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market report scope?
Report Attributes
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Report Details
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Forecast Period 2022 to 2027 CAGR
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CAGR of 5.1% during the review period (2022 to 2027).
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By Type
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- Extrusion Molding
- Injection Molding
- Others
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By Application
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- Work-in-progress Trays
- Thermoformed Pharmaceutical Packaging
- Packaging For Economical Medical Devices
- Others
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By Companies
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INEOS 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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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Report
- Evaluate High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
Frequently Asked Questions
What is the study period of this market?
The High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market is studied from 2017 - 2027.
What is the growth rate of High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market?
The High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market is growing at a CAGR of 5.1% over the next 5 years.
Who are the key players in High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market?
INEOS 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
What region does this High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market?
Extrusion Molding, Injection Molding, Others
What are the major end-use applications of High Impact PolyStyrene (HIPS) for Opaque Rigid Medical Packaging Market?
Work-in-progress Trays, Thermoformed Pharmaceutical Packaging, Packaging For Economical Medical Devices, Others
