Latin American chemical industry - statistics & facts

The Latin American chemical industry, while smaller in scale compared to global counterparts, is a significant and diverse sector of the region's economy, producing a range of products crucial for various industries and consumers. In 2022, the global chemical industry generated a revenue of approximately 5.72 trillion U.S. dollars, marking the highest value in the last 15 years. Asia dominated chemical sales, accounting for 60 percent of the global market share. Latin America, though holding a much smaller market share of three percent, still contributed significantly to the region's income, generating a revenue of about 234 billion euros in the same year.

Who dominates the Latin American chemical industry?

As of 2022, the total imports of the chemical industry in Latin America amounted to a whopping 169.38 billion euros, while exports from the region reached 38.34 billion euros. Brazil and Mexico have emerged as the region’s leading countries in this sector, being both the largest importers and exporters of chemical products in the region. Turning to companies specifically, Braskem SA, a chemical company based in Brazil, has notably outperformed its peers in the fiscal year of 2022, topping the list of the leading chemical companies in Latin America in terms of revenue. The company generated a revenue of approximately 16.59 billion U.S. dollars in 2022. This was significantly more than its nearest chemical company competitors in the region that year, Sociedad Quimica y Minera de Chile SA and Alpek SAB de CV.

What are the main segments of the chemical industry in Latin America?

The chemical industry in Latin America produces various types of chemical products, such as fertilizers, plastics, petrochemicals, refrigerants, and pharmaceuticals. The production and consumption of these products varied across different sub-regions and countries, depending on the availability of raw materials, the demand from end-use industries, and the level of development. For example, in Brazil, industrial chemicals, fertilizers, and crop protection chemicals represented 47.22, 19.72, and 10.7 percent of the sales value, respectively in 2022. These large shares of agricultural chemicals reflect the importance of agriculture in Brazil’s economy. In contrast, the Mexican chemical industry derives its highest value from synthetic resins and petrochemicals, reflecting Mexico’s significant reserves of oil and natural gas which serve as essential raw materials for petrochemical production.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Mar 15, 2024

Key insights

Chemical industry revenue in Latin America
234.03 bn euros
Sales market share of Latin America in the global chemical industry
3%
Revenue of the chemical industry in Brazil
119.95 bn euros
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