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Global Business Reports
Latin America Petrochemicals and Chemicals 2020
November 09, 2020
The need for efficiency and competitiveness has done nothing but accelerate with the Covid-19 pandemic, a crisis that has plunged the global economy into recession and has created some asymmetrical developments for the chemicals industry. While demand for cleaning, health, food safety and agriculture-related chemicals has remained strong and even grown significantly in some cases, some other industries, like aviation, automotive and construction, have been deeply hit by the crisis, especially during the second quarter of 2020.
The coronavirus crisis has highlighted the importance of the chemicals industry on several fronts: first, governments have realized it is an essential activity that feeds other industries, maintaining the minimum operational levels a country may need, even during strict lockdowns. Secondly, it has become apparent that the chemicals sector is key to tackle the virus and assure people’s safety, improving public perception of the industry.
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