Latin America Specialty Chemicals Market Size & Outlook
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Latin America specialty chemicals market highlights
- The Latin America specialty chemicals market generated a revenue of USD 65,591.2 million in 2024.
- The market is expected to grow at a CAGR of 4.4% from 2025 to 2030.
- In terms of segment, case was the largest revenue generating industry in 2024.
- Pharmaceutical Additives is the most lucrative industry segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2025 to 2030.
Latin America data book summary
| Market revenue in 2024 | USD 65,591.2 million |
| Market revenue in 2030 | USD 84,805.4 million |
| Growth rate | 4.4% (CAGR from 2025 to 2030) |
| Largest segment | Case |
| Fastest growing segment | Pharmaceutical Additives |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | CASE, Institutional & Industrial Cleaners, Rubber Processing Chemicals, Food & Feed Additives, Cosmetic Chemicals, Oilfield Chemicals, Specialty Pulp & Paper Chemicals, Specialty Textile Chemicals, Water Treatment Chemicals, Construction Chemicals, Electronic Chemicals, Mining Chemicals, Pharmaceutical Additives, Other Industries |
| Key market players worldwide | Solvay SA, Evonik Industries AG, Clariant AG, Akzo Nobel NV, DuPont de Nemours Inc, Kemira Oyj, Lanxess AG, Croda International PLC, Huntsman Corp, The Lubrizol Corp, Albemarle Corp |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.7% of the global specialty chemicals market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 407,354.8 million by 2030.
Case was the largest segment with a revenue share of 38.11% in 2024. Horizon Databook has segmented the Latin America specialty chemicals market based on case, institutional & industrial cleaners, rubber processing chemicals, food & feed additives, cosmetic chemicals, oilfield chemicals, specialty pulp & paper chemicals, specialty textile chemicals, water treatment chemicals, construction chemicals, electronic chemicals, mining chemicals, pharmaceutical additives, other industries covering the revenue growth of each sub-segment from 2018 to 2030.
The economies in the Central & South American region are expected to experience growing consumption of food & beverage offerings produced by the usage of additives. The favorable regulatory scenario as well as changing consumer eating habits in the region have had a positive effect on the region’s specialty chemicals market. The steady economic growth along with a growing middle class in countries like Brazil, Argentina, Peru, Chile, and others is changing the lifestyle patterns in the region towards a more consumption driven market.
These factors have led to a robust growth in the consumption of high-end food & beverage products such as desserts, carbonated drinks, and bakery products. Moreover, the presence of major producers in the Central & South America region, such as General Mills, Cargill, Incorporated, and Kraft Foods, is expected to surge the demand for specialty chemicals in the region over the forecast period.
Automotive, transportation, chemical processing, and construction are expected to be the other key consumers of specialty polymers, coatings, adhesives, sealants, plastic additives, and lubricants in the region. Major manufacturers of synthetic lubricants in Central & South America are Exxon Mobil Corporation, Royal Dutch Shell plc and Petrobras.
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Specialty Chemicals Market Scope
Specialty Chemicals Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Kemira Oyj | View profile | 4690 | Energiakatu 4, P.O. Box 330, Helsinki, Finland, FI-00180 | https://www.kemira.com |
| Croda International PLC | View profile | 5852 | Cowick Hall, Snaith, Goole, East Yorkshire, United Kingdom, DN14 9AA | https://www.croda.com |
| Albemarle Corp | View profile | 9000 | 4250 Congress Street, Suite 900, Charlotte, NC, United States, 28209 | https://www.albemarle.com |
| Clariant AG | View profile | 10481 | Rothausstrasse 61, Muttenz, Switzerland, 4132 | http://www.clariant.com |
| Lanxess AG | View profile | 12621 | Kennedyplatz 1, Cologne, Germany, 50569 | https://www.lanxess.com |
| Akzo Nobel NV | View profile | 35500 | Christian Neefestraat 2, Amsterdam, NH, Netherlands, 1077 WW | https://www.akzonobel.com |
| Solvay SA | View profile | 9000 | Rue De Ransbeek, 310, Brussels, Belgium, B-1120 | https://www.solvay.com |
| The Lubrizol Corp | View profile | 5001-10000 | Wickliffe, Ohio, United States, North America | http://www.lubrizol.com/ |
| DuPont de Nemours Inc | View profile | 24000 | 974 Centre Road, Building 730, Wilmington, DE, United States, 19805 | https://www.dupont.com |
| Huntsman Corp | View profile | 6000 | 10003 Woodloch Forest Drive, The Woodlands, TX, United States, 77380 | https://www.huntsman.com |
| Evonik Industries AG | View profile | 33409 | Rellinghauser Strasse 1-11, Essen, NW, Germany, 45128 | https://www.evonik.com |
Latin America specialty chemicals market size, by country, 2018-2030 (US$M)
Latin America Specialty Chemicals Market Outlook Share, 2024 & 2030 (US$M)
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