Latin America Specialty Chemicals Market Size & Outlook

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.