KEY FINDINGS The SBC and its derivatives market of North America is evaluated to register a CAGR of 7.06% with regard to revenue, and 5.17% regarding volume, over the estimated period of 2020-2028. The healthcare industry is a significant end-user segment for the market in the region. The growing trend of replacing PVC with SBC for tubular applications is an emerging trend and a powerful driver in the market. Health and environmental factors propel the adoption of SBC based technology in the industrial and commercial sectors in the region.
MARKET INSIGHTS The North American market region concerning SBC and its derivatives is surveyed through the countries of the US and Canada. Canada’s highly developed economy witnessed around 2.8% growth in GDP during 2018. Owing to the lucrative business policies for the domestic and global markets, and a robust R&D infrastructure, the industries in the country are growing at a rapid pace. The country’s commercial construction is growing considerably, and the residential development showed a stable growth at around 2% in 2018, supported by the increased population in the last ten years. Consumer expenditure in Canada has increased recently, hence, increasing the demand for remodeling of houses influencing the market in the country. A surge in the construction activities of malls, hotels, offices, etc. in almost all the provinces is augmenting the demand for roofing applications and adhesives and sealants. The country, due to its geographical position, spends a considerable amount every year in road paving due to the asphalt damage caused by the snow during the winters. Besides, Canada’s footwear and plastic industries also help in the consumption of SBCs. All these factors are predicted to drive the demand for SBCs.
COMPETITIVE INSIGHTS Dynasol Group, Kraton Corporation, Eastman Chemical Company, PolyOne Corporation, TSRC Corporation, etc. are some of the prominent companies operating in the market.
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Companies mentioned 1. ASAHI KASEI CORP 2. BASF AG 3. DENKA CO LTD 4. DYNASOL GROUP 5. EASTMAN CHEMICAL COMPANY 6. ENI VERSALIS SPA 7. INEOS GROUP HOLDINGS SA 8. KUMHO PETROCHEMICALS CO LTD 9. KRATON 10. LCY GROUP 11. LG CHEMICAL LTD 12. POLYONE CORPORATION 13. SINOPEC (CHINA PETROCHEMICAL GROUP CO LTD) 14. TSRC CORPORATION 15. ZEON CORP
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