The styrenic polymer market is segmented in terms of polymer types: styrene butadiene rubber (SBR), polystyrene (PS), expanded polystyrene (EPS), acrylonitrile butadiene styrene (ABS), and unsaturated polyester resin (UPR).
In North America, acquisitions and corporate agreements are among the key approaches adopted by leading market players to drive their growth in the North American Styrene Butadiene Rubber market.
North American SBR market has reached the maturity stage in terms of its growth rate, which is below the average CAGR of the SBR market. The U.S. is the largest consumer of SBR in the North America region, consuming approximately 85% of the total volume used in the region followed by Mexico and Canada. The regional demand is subjugated by the U.S.
The U.S. holds the major share of the North American Styrene Butadiene Rubber market followed by Canada and Mexico. This share is fueled by various factors, such as rising demand of tires in automobile industry, continuous upsurge in demand of footwear, and increasing consumption of end-use products.
The SBR industry also has its own set restraints, such as rising environmental and health issues due to usage of styrene. However, companies are investing heavily in performance-based green tires after the introduction of labeling regulations on tires.