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Brazilian chemical industry reports all-time high revenue

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Mainly benefited by the exchange rate and the depreciation of real against the dollar, the Brazilian chemical industry is expected to end 2021 with net sales of R$767 billion, by far the largest in history and 42% above that calculated in 2020, according to estimates to be presented this Friday by the Brazilian Chemical Industry Association (Abiquim), during the 26th edition of Enaiq, a national meeting of the sector. In dollar terms, the increase is also expressive, of 33.1%, to $142.8 billion, below only the consolidated figures for the sector seen between 2011 and 2014.With net sales estimated at $71.9 billion in 2021, an increase of 60% and equivalent to approximately 50% of the total grossed by the industry, chemical products for industrial use — such as basic petrochemicals, thermoplastic resins and elastomers — had a strong year.But the expansion is more a reflection of the acceleration of prices, in the wake of the appreciation of oil, rising energy costs and the imbalance between supply and demand resulting from the disruption in the global supply chain, rather than the greater volume sold.According to Abiquim's projection, while the segment's production grew 4.5% this year, domestic sales advanced 2.7%. "In isolation, the year was very good for the chemical industry. The concern is with the capacity to sustain these results," says Abiquim’s president Ciro Marino. Informal survey with members of the association showed that an important part of the industry, around 40%, estimates that 2022 will be stable compared to this year.In Mr. Marino’s view, there is a risk that the new price increases, which will inevitably occur in 2022, will start to negatively affect demand. "We've already gone through the worst of the water crisis, but not all the...

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