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Brazil Petrochemicals and Chemicals 2017 Braskem.Com BRAZIL PETROCHEMICALS AND CHEMICALS 2017 AND CHEMICALS BRAZIL PETROCHEMICALS BRAZIL PETROCHEMICALS AND CHEMICALS 2017 Petrochemicals and Intermediaries - Specialty Chemicals Distribution - Logistics and Services BRASKEM.COM YOUR BUSINESS’ INNOVATIONS CAN COUNT ON BRASKEM’S SUPPORT. At Braskem, we continually reinforce our commitment to sustainable and innovative solutions, which contribute to the growth of our clients as well as the strengthening of the chemical and petrochemical industries. And we do it our own way: standing side-by-side with our partners, contributing to a better future through plastic and chemistry. AFJ-24066-037 - Brasken Anuncio 210x275 Sangrado.indd 1 10/20/17 6:08 PM Dear Reader, We cordially welcome you to the Brazil Petrochemicals and Chemicals Industry Exploration 2017, the second book in a series of Industry Explorations produced by GBR together with APLA for release at the 37° Latin American Petrochemical Annual Meeting. Brazil’s chemical sector is the eighth largest in the world and its petrochemical companies occupy leading positions in their product areas across Latin America. Moreover, Brazil is strong in research and development and this is reflected in the innovative nature of its specialty chemical producers that have been involved in bringing many new products to the market. The aim of this cooperative work is to provide an investment guide, highlighting the opportunities for investment in Brazil’s petrochemical and chemical industries, particularly in light of Brazil’s recovery from recession, the prospects presented by Brazil’s pre-salt reserves and its core strengths such as its agricultural sector and biodiversity. A series of interviews with the key players from across the petrochemical and chemical industries in Brazil, along with some of the companies providing key support services, such as distribution, third party and integrated logistics are contained in this edition. As well as insights from major players such as Braskem, Unigel, Oxiteno, Elekeiroz, Rhodia Solvay and many more, the report delves into some of the key issues facing the industry such as the feedstock challenge, the impact of the pre-salt reserves and shale gas production and infrastructure. We also look at how the distribution market is changing, with increased consolidation, international competition and focus on specialty chemicals. As Brazil’s economy rises again and prospects for the region as a whole look brighter, business leaders are optimistic about the future of the petrochemical and chemical industries in Brazil, the region’s leading economy. With elections next year, they are also hoping for more political stability. We hope that you enjoy the report and that it will assist in better understanding a sector of pivotal importance to the Brazilian economy. Alice Pascoletti Manuel Díaz General Manager Executive Director Global Business Reports APLA Exclusive Data and Interviews Maps Leaders from both the Quantitative data help private and public sector readers better understand delve into the nuances and the position of Brazil, nascent developments that especially relative to its are shaping the industry. global competitors. 11, 14, 22, 28 8, 10, 30, and many more 41, 71 Editorial Content Global Business Reports’ journalists provide on-the- ground analysis of the trends that are shaping Brazil’s petrochemical and chemical industry. 8, 18, 27, 34, 44, 48, 52, 64 An Introduction the Chemicals in Brazil 38. Interview with Huntsman Performance 60. Interview with Grupo Cesari; Interview with 8. Light at the end of a long tunnel: Is the Products Ultracargo economy finally improving? 39. Interview with Cabot South America and 70. Interview with Den Hartogh; Interview with 11. Interview with Ministry of Industry, Foreign Mexico; Interview with Solenis Mammoet Latin America Trade and Services, Government of Brazil 40. Interview with Air Liquide Brasil 71. Map of Brazil’s ports 12. Introducing Brazil’s chemical sector 43. Interview with Eastman Chemical Company 72. Interview with Tricon Energy; Interview with 14. Interview with Associação Brasileira da 44. A global trendsetter: Chemicals and Brazil’s Intertox Indústria Química (Abiquim) personal care and cosmetics industry 73. Interview with Stolthaven Santos 15. Interview with Brazilian Development Bank 45. Interview with Croda Do Brasil (BNDES) 46. Interview with DSM 48. A sector hungry for chemicals: Brazil’s huge Final Thoughts agricultural sector Petrochemicals and Intermediaries 76. Interview with IHS Markit; Interview with Bain & Company 18. The building blocks of the industry: An Distribution 77. Interview with Demarest Advogados introduction to petrochemicals in Brazil 78. Final Thoughts 22. Interview with Braskem 52. Chemical distribution: An industry in flux 80. Company Index 23. Interview with Braskem, Chemicals & Vinyls 54. Interview with the Brazilian Association of 82. Credits 24. Interview with BASF; Interview with Oxiteno Chemical and Petrochemical Distributors 25. Interview with LyondellBasell Brasil (Associquim) 26. Interview with Unigel 55. Interview with quantiQ 27. Green feedstock and bio chemicals: How big 56. Interview with Química Anastácio is the potential? 58. Interview with Univar Brazil BRAZIL PETROCHEMICALS AND CHEMICALS 2017 28. Interview with Elekeiroz 59. Interview with MCassab; Interview with Industry Explorations 29. Interview Wacker Brenntag Global Business Reports 30. Interview with Yokogawa South America 60. Interview with Quimisa 31. Map of Brazil’s major petrochemical 61. Interview with Coremal-Pochteca; Forscher; complexes Dinaco; Colormix Especialidades This research has been conducted by Laura Brangwin, Matthias Lomas and Lina Jafari Specialty Chemicals Logistics and Services Edited by Mungo Smith Graphic design by Gonzalo Da Cunha 34. Specialty chemicals in Brazil: The future of 64. Brazil’s infrastructure: A major roadblock A Global Business Reports Publication Brazil’s chemicals industry? 66. Interview with IC Transportes For updated industry news from our 36. Interview with Arkema Quimica (Brasil) 68. Interview with Grupo Toniato; BDP on-the-ground teams around the world, International please visit our website at gbreports.com, 37. Interview with Rhodia-Solvay Group Latin subscribe to our newsletter by signing up America to our VIP list through our website, or follow us on Twitter: @GBReports Industry Explorations BRAZIL PETROCHEMICALS AND CHEMICALS 2017 Global Business Reports VENEZUELA Brazil GUYANA International Boundary FRENCH Province Boundary SURINAME GUIANA COLOMBIA National Capital Boa Vista Province Capital RORAIMA AMAPA Macapa Belem ECUADOR Sao Luis Manaus Parnaiba Fortaleza CEARA MARANHAO RIO GRANDE AMAZONAS PARA Teresina DO NORTE Natal PARAIBA Joao PIAUI Pessoa PERNAMBUCO ACRE Porto Recife Rio Branco Velho ALAGOAS Palmas Maceio PERU SERGIPE RONDONIA TOCANTINS BAHIA Aracaju MATO GROSSO Salvador GOIAS BOLIVIA Cuiaba Brasilia DISTRITO Goiania FEDERAL MINAS GERAIS Belo Campo Horizonte ESPIRITO Grande SANTO Vitoria MATO SAO GROSSO PAULO DO SUL RIO DE Sao JANEIRO Paulo PARAGUAY Rio de Janeiro CHILE PARANA Curitiba ATLANTIC OCEAN PACIFIC OCEAN SANTA CATARINA Florianopolis RIO GRANDE N DO SUL Porto Alegre ARGENTINA URUGUAY 0 100 200 300 Kilometers 0 100 200 300 Miles GBR • Industry Explorations • BRAZIL PETROCHEMICALS AND CHEMICALS 2017 AN INTRODUCTION TO CHEMICALS IN BRAZIL “Until recently, Brazil’s central bank’s lent at 14%, whereas now it lends at 9% and we expect it to be at 7% by the end of the year. This will improve investment in Brazil’s economy and GDP will emerge from negative territory this year. In a market of over 200 million consumers, if GDP reaches 1% growth next year from a minus 3.6% decline in 2016, it will represent a huge increase in demand. There will be more demand for cars, refrigerators and paint for new apartments and offices – all areas in which our products are used.” - Reinaldo Kröger, President, Unigel EDITORIAL Global Business Reports Light at the end of a long tunnel: Is the economy finally improving? It was all going so well for Brazil in the years leading up to 2014. GDP ($ trillion) The economy was strong, with GDP growth reaching heady Source: The World Bank heights at 7.5% in 2010 and averaging 3% until 2014. Dilma 2.8 Rousseff, now impeached, had been elected in October 2010 to 2.6 become Brazil’s first ever female president. As many developed countries were still reeling from the global financial crisis and the 2.4 eurozone appeared on the brink of collapse, Brazil, a member of 2.2 the BRICS nations of emerging economies, appeared ascendant. However, in 2014, Brazil’s economy hit the rocks. What ensued 2.0 8 was Brazil’s worst recession on record. GDP dropped from 3% to 1. 8 0.5% in 2014 and then plummeted to -3.8% in 2015 and -3.6% in 1. 6 2016. By then, Brazil’s GDP was 9% below its pre-crisis peak. 1. 4 Unemployment stood at 14 million in June 2017, the worst in 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 20 years. Furthermore, the crisis has been longer than previous ones. “What is different about the recent economic crisis is that, unlike other recessions, the recovery has not been short and Brazil World’s 9th biggest economy will not come out of it better off even though we are now seeing some light at the end of the tunnel,” commented Mauricio Adade, (GDP approx. $1.8 trillion, 2016) president, Latin America, at life sciences company and specialty chemical producer DSM. There is some debate around why Brazil’s recession has been so GDP Growth Rate 2016 severe,
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