Global Business Reports


Alfonso Tejerina, Ben Cherrington, Maria Filippova

Latin America Petrochemicals and Chemicals 2021 - Digital Version

November 04, 2021

GDP in Latam and the Caribbean contracted by 6.8% in 2020, the biggest decrease of all the regions covered by the IMF. However, average growth estimates are forecast above 5% in 2021, with the chemical and petrochemical industries being key components of this rebound. Demand for hygiene-related products, chemicals for agriculture and non-durable goods such as packaging has remained strong, while markets which experienced lower demand in 2020, such as polystyrene and PVC, have rebounded in 2021. 

The year has not been without its challenges, as a constrained global supply chain has highlighted the importance of establishing greater regional production in Latin America, a situation exacerbated by unprecedented logistics disruptions and a lack of domestic raw material feedstock.

Perhaps the biggest topic of 2021 has been the acceleration of a global environmental agenda. Sustainability has become the overarching theme touching all facets of the chemical and petrochemical industries, influencing new forms of energy such as green hydrogen, and creating a new wave of business opportunities on the path towards a circular economy.


Univar Solutions explains its digital strategy and focus on sustainability.
Química Anastacio explains its strategy during the pandemic and how the company has managed increasing demand for chemical products.
"We continue to build leading technologies for gasification, carbon capture and hydrogen for mobility to power the broader energy transition."
"Covid, climate change and geopolitical disruptions will not disappear soon so we need to continue innovating supply chain solutions, strengthening alliances with core suppliers and customers, developing new suppliers and increasing safety stocks to get us through shortages or logistics problems."


Mexico Chemicals 2023 Chemical Week Release

Over the first 10 months of 2022, Mexico exported 20% more products to the United States than it did during the same period the year before. The global trend towards regionalization is lifting the entire Mexican industrial sector, but for the chemical industry in particular, 2022 was a year of nearshoring-driven growth. 



"With mining companies currently enjoying high prices, exceptional production performance and robust supply chains, we anticipate that the sector will continue showing resilience and growth, remaining financially sound in 2023."