With all the world’s attention focused on Asia and its booming economic growth driven by China and India, Latin America tends to get overlooked. But that would be a big mistake, as the region is making significant strides towards becoming an industrial powerhouse.
The Latin American chemical industry has taken its lumps in the global recession, but will emerge even stronger if the right investment opportunities are pursued.
The region is rich in natural resources, from oil and gas, iron ore and lithium to an agricultural bounty that can provide the basis for a burgeoning biofuels industry. Relative political stability over the years has provided a firm platform for economic growth.
This opportunity cannot be squandered – the time to invest is now! On the chemical front, Brazil is leading the way with several large petrochemical expansions by state-operated energy and chemical giant Petrobras, and chemical firms Braskem and Quattor (who are also studying a strategic alliance or merger).
Mexico, which is hosting the Latin American Petrochemical and Chemical Association’s (APLA) 29th annual meeting in its capital from November 7-10, has the opportunity to finally get a major petrochemical project off the ground with its Ethylene XXI venture.
We eagerly await news from the meeting. Look for the November 2 issue of ICIS Chemical Business featuring Latin America.