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 |
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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