Producer
TSRC Corporation
Taiwan Synthetic Rubber Corp — major Asian SBS/SIS/SEBS producer; plants in Taiwan, China, India, USA (via Dexco).
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SBS/SIS/SEBS Block Copolymers (Polymer Segment)
65%Synthetic Rubber
20%Specialty Elastomers & Other
15%
Intelligence
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Concentration2024
TSRC's US production comes entirely from the Dexco Polymers joint venture (TSRC + Dow Chemical) operating at Dow's Freeport, Texas complex on the Gulf Coast. Dexco is the primary US-made SBS source for the US road and roofing market. US federal highway infrastructure (IIJA/Infrastructure Investment and Jobs Act 2021) mandated increased use of polymer-modified asphalt for highway durability — creating demand growth for SBS/SIS asphalt modifiers. This means that US federal infrastructure stimulus spending creates demand that partially flows to a Taiwanese conglomerate (FPG/TSRC) and a US-Taiwan joint venture operating at Dow's Texas site. The same federal legislation designed to rebuild American infrastructure creates supply chain demand that strengthens Taiwan's position in the US specialty polymer market.
Dexco Polymers LP ↗Did you know2024
TSRC's SB latex (styrene-butadiene emulsion) product line is used for carpet backing (adhering carpet fiber bundles to the backing material) and for paper coating (giving coated paper and paperboard its smooth, bright surface for printing). The same SB latex that bonds carpet fiber in commercial office buildings and hotel corridors is also the binder in the clay-coated paper used for glossy magazine printing and high-quality food packaging graphics. TSRC's synthetic rubber and latex chemistry simultaneously determines the durability of commercial flooring, the printability of food packaging, and the surface quality of glossy publication paper — through the same emulsion polymer chemistry platform. A SB latex supply disruption would affect both commercial construction (carpet installation during building build-outs) and packaging/print media supply chains simultaneously.
TSRC Corporation ↗Origin2024
TSRC Corporation is controlled by Formosa Plastics Group (FPG) — Taiwan's largest industrial conglomerate, founded by Wang Yung-ching in 1954. FPG is an extraordinary vertically integrated industrial ecosystem: Formosa Plastics produces PVC resins, Nan Ya Plastics produces epoxy-glass copper-clad laminates (the substrate for printed circuit boards), Formosa Chemicals & Fibre produces acrylic fibers and other chemicals, and TSRC produces synthetic rubber and block copolymers. The same Taiwanese conglomerate that produces the SBS polymer modifying US roads also produces the copper clad laminate (Nan Ya) used in printed circuit boards — connecting road infrastructure polymer supply to semiconductor/electronics manufacturing supply through a single Taiwanese corporate family. FPG's Mailiao industrial complex in Yunlin County is one of the largest integrated petrochemical facilities in Asia.
TSRC Corporation ↗