Latin America Chemical Distribution Market: Growth Prospects 2024-2032
Triton’s research report predicts that the Latin America chemical distribution market is set to advance at a CAGR of 5.25% in revenue during the forecast years 2024-2032.
Industries such as food and beverage, construction, and mining play a pivotal role in the Latin American economy. The increasing presence of middle- and high-income consumers, along with steady economic growth in countries like Argentina, Brazil, Peru, and Chile, is positively impacting the growth of the food and beverage industry in this region. Additionally, the rising demand for chemicals in the food and beverage sector, driven by changing lifestyles and favorable regulatory developments, is expected to boost the need for a robust chemical distribution network.
Brazil captures the highest share in the chemical distribution market, obtaining $4.03 billion in 2023.
As per Brazil Chemicals Industry Guide, chemicals comprise a large part of its GDP, contributing 11.2% only behind petroleum and food & beverage.
Chemicals used in the agribusiness sector are key to the country’s economy, along with an additional demand for organic chemicals, which highlights the emerging scope of the chemical distribution market.
For the last 30 years, chemical imports in the country increased by more than 1,200%. Thus, the demand for chemical imports remains extremely high, presenting opportunities for chemical distribution companies.
Chemical Distribution Market Forecast for Mexico
In 2023, the trade exchange (including international purchases and sales) of chemical products In Mexico was $59.8 billion. The chemical distribution market in the country caters to diverse industries such as automotive, pharmaceuticals, agriculture, construction, electronics, and consumer goods. Notably, the automotive and manufacturing sectors are important due to Mexico’s status as a major manufacturing hub. Hence, an efficient and reliable chemical distribution network is crucial for supporting the growth of manufacturing.
The chemical distribution market is segmented based on end-use. The end-use segment is further branched into specialty chemicals and commodity chemicals. The former are employed in the textile business to improve the fabric’s chemical and physical characteristics for unique uses.
The key entities in the reviewed market are Safic Alcan, Caldic BV, Univar Solutions Inc, Helm Ag, Brenntag Se, Azelis Group NV, Omya International Ag, Barentz, Ter Chemicals Gmbh & Co Kg, Jebsen & Jessen Ingredients, Manuchar Nv, and ICC Industries Inc.
Omya International AG, headquartered in Oftringen, Switzerland, is a global leader in producing industrial minerals and distributing specialty materials. Partnering with top-tier manufacturers, the company provides a comprehensive range of binders, pigments, and additives to clients worldwide. Additionally, it distributes specialty ingredients and engineered materials, offering technical and regulatory support. Omya operates in over 50 countries, ensuring a broad international presence.
Latest from the Company:
The company introduced Omyaloop, a new range of recycled calcium carbonate products designed to meet specific needs and support the polymer industry’s shift towards a sustainable circular economy. It also received recognition with the Europe New Product Innovation Award.