According to researchers from Towards Packaging, the global high impact polystyrene (HIPS) film and sheet market, estimated at USD 54.66 billion in 2025, is forecast to expand to USD 89.89 billion by 2035, growing at a CAGR of 5.1% over the forecast period.
Ottawa, Jan. 30, 2026 (GLOBE NEWSWIRE) — The global high impact polystyrene (HIPS) film and sheet market hit USD 54.66 billion in 2025, with current forecasts pointing to USD 89.89 billion by 2035, according to Towards Packaging, a sister firm of Precedence Research.
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What is Going on in the High Impact Polystyrene (HIPS) Film and Sheet Industry?
High-impact polystyrene (HIPS) film and sheet are plastic materials modified with rubber to enhance toughness, impact resistance, and processability, and are widely used in packaging, appliances, and consumer goods. The market is driven by rising demand for lightweight, cost-effective packaging, ease of thermoforming, good printability, and growing applications in food packaging and disposable products.
Private Industry Investments for High Impact Polystyrene (HIPS) Film and Sheet:
- UFlex Limited invested over Rs 700 crore (around $78.5 million) to expand its packaging film manufacturing line in Karnataka, an expansion that includes capacity that could be relevant to HIPS applications, given its general focus on packaging films.
- Versalis S.p.A. opened a new recycling plant in Porto Marghera, Italy, dedicated to producing plastics made from mechanically recycled raw materials, including crystal polystyrene and expandable polystyrene from waste, which is a major sustainability investment impacting the broader polystyrene market.
- Epsilyte launched a new expanded polystyrene product with a minimum of 50% post-consumer recycled (PCR) content for packaging applications, focusing on sustainability through extrusion technology at its Ohio facility.
- BEWI launched new expanded polystyrene raw material grades, some derived from recycled feedstock, and incorporated them into new products like fish boxes to reduce CO₂ emissions by up to 60%.
- Supreme Petrochem Ltd offers a wide range of HIPS grades with exceptional properties for demanding applications like refrigerator cabinet/door liners, which involves continuous investment in R&D and masterbatch technology for customization.
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What Are the Latest Key Trends in the High Impact Polystyrene (HIPS) Film and Sheet Market?
1. Rising Preference for Thermoform-Friendly Packaging Materials
High-impact polystyrene films and sheets are increasingly favored for applications requiring smooth thermoforming and dimensional stability. Their ability to maintain shape under heat, combined with good impact resistance and surface clarity, makes them suitable for trays, lids, and protective packaging. This trend is supported by rising consumption of packaged and ready-to-use products across industries.
2. Shift Toward Environment-Conscious Material Development
Manufacturers are focusing on improving the environmental profile of HIPS films and sheets by incorporating recyclable content and optimizing material efficiency. Efforts include downgauging, improved recyclability, and compatibility with existing waste-management systems. These developments help meet regulatory expectations while responding to growing demand for packaging solutions with reduced material usage and environmental impact.
3. Advancements in Film and Sheet Production Techniques
Modern extrusion and calendaring technologies are enabling tighter thickness control, enhanced surface uniformity, and better mechanical consistency in HIPS films and sheets. Automation and process optimization reduce material waste and energy consumption. These improvements allow producers to deliver reliable performance for demanding applications while maintaining cost efficiency and scalable production output.
4. Growing Use of Customized and Modified HIPS Grades
The market is seeing increased demand for tailored HIPS formulations designed to meet specific functional needs. These include enhanced toughness, improved heat resistance, and better compatibility with printing and lamination processes. Customized grades expand the usability of HIPS films and sheets in sectors that require precise performance characteristics and consistent visual quality.
5. Strengthening Demand from Emerging Manufacturing Economies
Rapid industrial growth in developing regions is driving higher consumption of HIPS films and sheets. Expanding packaging, appliance, and consumer goods manufacturing activities increase material demand. Competitive production costs and improving infrastructure support wider adoption, positioning these regions as key contributors to global volume growth and capacity expansion.
6. Broadening Application Scope Beyond Traditional Packaging
Although packaging remains a major application, HIPS films and sheets are gaining traction in non-packaging uses such as appliance housings, display components, and interior panels. Their balance of rigidity, impact resistance, and ease of fabrication supports adoption in cost-sensitive applications requiring reliable performance and clean surface appearance.
What is the Potential Growth Rate of the High Impact Polystyrene (HIPS) Film and Sheet Industry?
The growth of the high impact polystyrene (HIPS) film and sheet industry is driven by rising demand for lightweight, durable, and cost-effective packaging materials across food, consumer goods, and industrial applications. Its excellent thermoformability, impact resistance, and smooth surface finish support wide adoption. Expanding manufacturing activities, increasing use in appliance and electronics components, and growing preference for easy-to-process materials further contribute to market expansion.
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Regional Analysis:
Who is the leader in High Impact Polystyrene (HIPS) Film and Sheet Market?
Asia-Pacific dominates the market due to rapid industrialization, expanding packaging and consumer goods manufacturing, and rising urban populations. The region benefits from low-cost production, abundant raw material availability, and strong demand from food packaging, appliances, and electronics. Supportive government policies and growing export activities further strengthen regional market leadership.
China High Impact Polystyrene (HIPS) Film and Sheet Market Trends
China dominates the Asia-Pacific market due to its large-scale manufacturing base, strong domestic demand for packaging and consumer products, and well-established plastics processing infrastructure. Easy access to raw materials, cost-efficient production, and extensive export capabilities further support high output and wide application across food packaging, appliances, and industrial uses.
How is the Opportunistic is the Rise of North America in the High Impact Polystyrene (HIPS) Film and Sheet Industry?
North America is the fastest-growing region in the market due to increasing demand for advanced packaging solutions, rising use in medical and consumer goods applications, and a strong focus on material innovation. Technological advancements, the adoption of recyclable materials, and the presence of established manufacturers investing in capacity upgrades further support accelerated regional growth.
U.S. High Impact Polystyrene (HIPS) Film and Sheet Market Trends
The U.S. dominates the market due to its advanced manufacturing infrastructure, strong demand from the packaging, healthcare, and consumer goods industries, and continuous material innovation. The presence of major polymer producers, well-developed distribution networks, and increasing focus on high-performance and recyclable plastic solutions further strengthen the country’s leadership within North America.
How Big is the Success of the Europe High Impact Polystyrene (HIPS) Film and Sheet Industry?
Europe is growing at a notable rate in the market due to increasing demand for sustainable and high-quality packaging materials across the food, medical, and consumer goods sectors. Strong regulatory focus on recyclability, technological advancements in material processing, and rising adoption of lightweight, durable plastics in industrial applications support steady regional market expansion.
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Segment Outlook
Product Type Insights
What made the Extrusion HIPS Segment Dominant in the High Impact Polystyrene (HIPS) Film and Sheet Market in 2025?
The extrusion HIPS segment dominates the market due to its ability to deliver consistent thickness, smooth surface quality, and high production efficiency. This process supports large-scale manufacturing, reduces material waste, and enables easy thermoforming, making it widely preferred for packaging, appliance, and industrial sheet applications.
The injection molding HIPS segment is the fastest-growing segment due to rising demand for precise, complex, and high-strength plastic components. Injection molding enables superior dimensional accuracy, smooth surface finish, and efficient mass production. Expanding use in consumer electronics, medical devices, and appliance housings further accelerates the adoption of injection-molded HIPS products.
Application Insights
How did the Packaging Dominated the High Impact Polystyrene (HIPS) Film and Sheet Market in 2025?
The packaging segment dominates the market due to strong demand for lightweight, impact-resistant, and cost-effective materials. HIPS offers excellent thermoformability, stiffness, and surface finish, making it ideal for trays, containers, and protective packaging. Growth in food, consumer goods, and e-commerce packaging continues to reinforce its leading application position.
The consumer goods segment is the fastest-growing segment in the market due to increasing demand for durable, lightweight, and visually appealing products. HIPS supports design flexibility, smooth surface finish, and cost-efficient manufacturing, making it suitable for appliances, electronics housings, and household items with consistent quality requirements.
End-User Industry Type Insights
Which Factors Make the Food & Beverage Segment the Dominant Segment in the Market in 2025?
The food & beverages segment dominates the market due to high demand for hygienic, lightweight, and impact-resistant packaging solutions. HIPS offers excellent thermoformability, good barrier performance, and an attractive surface finish, making it suitable for trays, cups, lids, and containers. Growth in packaged and ready-to-eat foods continues to strengthen its dominance.
The healthcare segment is the fastest-growing segment in the market due to increasing demand for sterile, durable, and lightweight medical packaging. HIPS offers excellent clarity, impact resistance, and thermoformability, making it ideal for medical trays, equipment housings, and pharmaceutical packaging, supporting safe and efficient healthcare operations.
Recent Breakthroughs in High Impact Polystyrene (HIPS) Film and Sheet Industry
- In November 2025, the Polystyrene Recycling Alliance (PSRA) expanded polystyrene recycling capacity through collaboration with Brave Industries. The collaboration aimed to strengthen circular economy initiatives by improving the collection, recycling, and reprocessing of high-impact polystyrene materials. By increasing recycling capacity, the alliance supports sustainable production and reduces environmental impact from plastic waste.
- In February 2025, Intertape Polymer Group Inc., a packaging products and systems company, launched its American brand Plastic Sheeting in Ultra and Performance film variants. The Ultra and Performance variants of American Plastic Sheeting were designed to provide superior tear resistance, surface protection, and flexibility for various applications, including packaging, construction, and consumer goods.
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Top Companies in the Global High Impact Polystyrene (HIPS) Film and Sheet Market & Their Offerings:
Tier 1:
- INEOS Styrolution: Offers Styrolution® PS HIPS resins for extrusion into refrigerator liners and food packaging.
- Trinseo S.A.: Provides the STYRON™ and STYRON A-TECH™ portfolios, with high-melt-strength resins for refrigerator inner liners and Form-Fill-Seal food packaging.
- Chi Mei Corporation: Produces POLYREX® HIPS grades like PH-88, widely used for extrusion into sheets for electronic housings due to their impact strength.
- LG Chem Ltd.: Supplies high-impact grades like HIPS 50IS, utilized for manufacturing sheets and films for yogurt containers and refrigerator parts.
- Chevron Phillips Chemical Company: Its polystyrene business transitioned to the Americas Styrenics (AmSty) joint venture, which offers HIPS for packaging and toys.
- Formosa Chemicals & Fibre Corporation: Manufacturers of TAIRIREX® PS resins, including HIPS grades used in disposable food containers and household products.
- SABIC: Offers the SABIC® PS portfolio, with high-impact resins like PS 330 designed for sheet extrusion with high heat deflection and impact resistance.
- Versalis S.p.A.: Produces the Edistir® HIPS range, featuring specialized grades for deep-draw thermoforming of food packaging and refrigerator components.
Tier 2:
- Styron LLC
- BASF SE
- Taita Chemical Co., Ltd.
- Supreme Petrochem Ltd.
- PetroChina Company Limited
- KKPC (Kumho Petrochemical)
- Eni S.p.A.
- Sinopec Group
- Samsung SDI Co., Ltd.
- Dow Chemical Company
- Asahi Kasei Corporation
- Total Petrochemicals & Refining USA, Inc.
Segment Covered in the Report
By Product Type
- Extrusion HIPS
- Injection Molding HIPS
- Others
By Application
- Packaging
- Consumer Goods
- Electronics
- Automotive
- Construction
- Others
By End-User Industry
- Food and Beverage
- Healthcare
- Electronics
- Automotive
- Construction
- Others
By Region
North America:
- U.S.
- Canada
- Mexico
- Rest of North America
South America:
- Brazil
- Argentina
- Rest of South America
Europe:
Western Europe
- Germany
- Italy
- France
- Netherlands
- Spain
- Portugal
- Belgium
- Ireland
- UK
- Iceland
- Switzerland
- Poland
- Rest of Western Europe
Eastern Europe
- Austria
- Russia & Belarus
- Türkiye
- Albania
- Rest of Eastern Europe
Asia Pacific:
- China
- Taiwan
- India
- Japan
- Australia and New Zealand,
- ASEAN Countries (Singapore, Malaysia)
- South Korea
- Rest of APAC
MEA:
- GCC Countries
- Saudi Arabia
- United Arab Emirates (UAE)
- Qatar
- Kuwait
- Oman
- Bahrain
- South Africa
- Egypt
- Rest of MEA
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