HIPS Sheets Market: An Overview
HIPS sheets are high-impact polystyrene sheets that are manufactured using plastic polymers. HIPS sheets are considered one of the most dynamic packaging as they are supremely versatile in terms of performance across multiple applications, tough, economical, and are easy to transform into any shape. The standard dimension for HIPS sheets is 40x72 – 48x96.
HIPS sheets have several attributes like high-impact strength, heat resistance, fully recyclable with minimal loss in properties, UV protection, colour control, dimensional stability, and has an extremely low coefficient of linear thermal expansion up to 250° C. They are used in medical packaging, printing, food trays and containers, dairy containers, industrial packaging, building, and construction.
Due to the distinctive features and superior properties of HIPS sheets, the market is expected to accelerate in the future. An increased preference for health and hygiene, ready-made packaged food, printing, and advertising, technical advancements is also expected to propel the growth of HIPS sheets.
HIPS Sheets Market: Dynamics
Nowadays, customers want to customize the product according to their need specification. Therefore, personalization has become a trend. HIPS sheets can be molded and remolded into any shape. Also, these sheets can be customized to any color, size according to the consumer’s preference. Thus, this is anticipated to boost the growth of the hips sheets in the market.
HIPS sheets have unique features like good-dimensional stability and aesthetics, durability, and toughness. Using thermoforming it can be used to design a variety of food packaging like trays, coffee, tea, soup cups, food serving plates, cake platters, etc. Also, the HIPS sheets are FDA-approved and have a moisture barrier and hence it will benefit the food sector as well.
HIPS sheets are assembled using mechanical fasteners, solvents, and sheets are decorated using various printing methods such as screen printing, offset lithography, and flexography. The HIPS sheets are having exquisite characteristics such as high strength, good machinability, and ease to glue, print and paint; hence the HIPS sheet are applied in the printing industry for printed graphics, indoor signs, printed advertising display, merchandise display, in-store signage, and kiosks. Furthermore, HIPS sheets are used in building and construction sanitary ware, bath surrounds and interior uses.
HIPS sheets are impact-resistant, economical, and easy for fabrication, molding, and machining. Its enhanced properties of color control, deep-draw formability, higher gloss, and exceptional dimensional stability makes it apt for automobile body parts. HIPS sheets are easy to process, transparent, excellent optical clarity makes them useful in healthcare applications, medical device packaging as Petri dishes, trays. The glossy finish and the cheaper molding costs help the manufacturers to produce various consumer-centric household appliances using HIPS sheets. All these factors are expected to augment the growth of HIPS sheets market.
HIPS Sheets Market: Segmentation
HIPS sheets market can be segmented by thickness, and application.
By Thickness, HIPS sheets market can be segmented as
- Less than 1 mm
- 1 mm to 2 mm
- 3 mm to 4 mm
- 5 mm to 6 mm
- More than 6 mm
By Application, HIPS sheets market can be segmented as
- Building and Construction
- POP Displays ( merchandise displays, instore signage)
- Agricultural Use (Seeding Tray)
- Automobile Body Parts
- Other Industrial End Use
HIPS Sheets Market: Regional Outlook
Based on the geography, the HIPS sheets market is categorized into North America, Latin America, Europe, South Asia, East Asia, and The Middle East & Africa Regions. Asia Pacific regions such as India & China have vast population, and in these emerging economies, the trend towards the use of home delivery, online food ordering, and ready-to-eat food has increased tremendously.
HIPS sheets are extensively used in disposable cutlery in food packaging. Moreover, there is an increasing demand for passenger and commercial vehicles in developing countries in Asia Pacific. The HIPS sheets are used in automobile body parts due to its features like low cost, easy to assemble with solvents and adhesives; therefore it has a prodigious potential in the Asian market.
North America and Europe are developed nations having the trend of using disposable and eco-friendly products. Due to its multi-functional uses in the food serving trays, horticulture trays, sanitary ware, and construction industry signify strong growth in the HIPS sheets market.
HIPS Sheets Market: Key Players
Key players in the HIPS sheets market are,
- Europack Group
- Eagle Plastics Limited
- RH Nuttall
- Jiangsu Sunplas Co., Ltd.
- Flight Extruded Plastics LP
- Ta Fu Chi Plastic Co., Ltd.
- GM Polyplast Limited
- Farber Plastics, Inc.
- Spartech Corporation
- Resilient Plastics Pvt. Ltd.
The report HIPS sheets market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on cement packaging market segments and geographies.
Regional Analysis Includes-
- North America
- Latin America
- Middle East & Africa (MEA)
- South Asia
- East Asia
- A detailed overview of parent market
- Changing HIPS sheets market dynamics in the industry
- In-depth HIPS sheets market segmentation
- Historical, current, and projected market size regarding volume and value
- Recent industry trends and developments in the HIPS sheets market
- Competitive landscape
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for players to sustain and enhance their market footprint
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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10. What will be the barrier to entry for new players in the market?
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