Chemicals in Brazil Market Players Analysis¶
Products and Services¶
This report details the top players in the Brazilian chemical market based on available revenue data and market presence as of 2023-2024. It outlines their main products and services and provides an analysis of reported growth or decline in their volumes and revenues where data is available. It is important to note that obtaining precise, directly comparable Brazil-specific chemical revenue figures for all companies for the exact 2024-2025 period is challenging based on the provided public information, and thus the ranking and analysis are based on the best available data, including global figures or data from slightly earlier periods where necessary, with noted limitations.
Here are the profiles of the key players:
- Braskem S.A.: As the largest petrochemical company in Latin America, Braskem operates extensively in Brazil. Its main products include a wide range of thermoplastic resins such as polyethylene, polypropylene, and PVC, as well as basic petrochemicals. The company controls major petrochemical complexes in Brazil. Braskem reported a significant net loss in 2023 and 2024, impacted by decreasing petrochemical prices and lower sales volumes in the Brazilian market. Their Brazilian capacity utilization rate declined from 75% in the first half of 2023 to 72% in the first half of 2024.
- The Mosaic Company (Mosaic Fertilizantes): A global leader in crop nutrients, Mosaic has a substantial fertilizer business in Brazil. Their main products in Brazil are phosphate and potash-based crop nutrients and animal feed ingredients. While they were the largest fertilizer distributor in Brazil in 2022, their net sales in Brazil decreased from US$ 5.7 billion in 2023 to US$ 4.4 billion in 2024. This decline was influenced by lower fertilizer prices and sales volumes. Volume of sales in Brazil also decreased from 9.7 million tonnes in 2023 to 9 million tonnes in 2024.
- BASF SE: This German chemical giant has a diverse portfolio in Brazil, including chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. They are a major player in the agricultural solutions market, focusing on crop protection products like fungicides. BASF's global sales decreased in 2023 compared to 2022. While overall sales in South America decreased in the first nine months of 2024, Brazil showed organic local currency growth.
- Dow: An American multinational, Dow offers a broad range of technology-based chemical products in Brazil for sectors like packaging, infrastructure, and consumer solutions. The company's global net sales saw a decrease in 2023 compared to 2022. This trend is consistent with global macroeconomic challenges and production costs affecting the company.
- Unigel Participações S.A.: A Brazilian chemical company focusing on styrenics, acrylics, and nitrogen fertilizers. They are a leader in Latin America for styrenics, acrylics, and nitrogen fertilizers, with key products including styrene, acrylonitrile, methacrylic acid, urea, and ammonium sulfate. Unigel faced significant challenges, reporting a substantial decrease in net revenue from R$ 5.15 billion in 2023 to R$ 3.15 billion in 2024, largely due to the shutdown of their Agro segment plants.
- Nouryon: A global specialty chemicals leader with a presence in Brazil, producing solutions used in various end-markets such as personal care, cleaning goods, and agriculture. They operate a facility in Paulínia, Brazil, producing metal alkyls and are involved in supplying chemicals for the pulp and paper industry. Nouryon's global revenue decreased by 10% in 2023 compared to 2022. Approximately 12% of their global sales in 2023 came from Latin America.
- Clariant AG: This Swiss specialty chemicals company operates in Brazil, providing products for industries including care chemicals, adsorbents, additives, and catalysts. Clariant focuses on sustainable and innovative solutions. While global sales saw a decline in the first nine months of 2024, the company reported organic local currency growth in Brazil during this period. Global revenue in 2024 (TTM) was lower than in 2015.
- AkzoNobel N.V.: A Dutch multinational producing paints, coatings, and specialty chemicals, with a long history in Brazil. They have multiple production plants in the country and are involved in the pulp and paper chemicals business. While specific recent Brazil chemical revenue data is not explicitly provided in the snippets, historical data indicated a significant presence and plans for revenue growth. Global revenue (TTM) in 2024 is available.
- Elekeiroz S.A.: A Brazilian manufacturer specializing in oxo-alcohols and plasticizers, with production based on sugarcane ethanol. They are the sole producer of oxo-alcohols in Latin America and the largest producer of plasticizers in Brazil. The company reported revenue of R$ 1.408.647 million in 2023. Historical data shows revenue of over R$ 975 million in 2017.
- Ultrapar Participações S.A.: While Ultrapar is a large Brazilian group, its primary revenue comes from fuel distribution and logistics. It is included for context due to its historical significance in the chemical sector through its former subsidiary Oxiteno (specialty chemicals), which was sold in 2021. Ultrapar's logistics arm continues to handle chemical products. The company's recent consolidated net revenue (R$ 126.049 billion in 2023 and R$ 133.499 billion in 2024) reflects its current diverse operations, not chemical manufacturing.
Comparative Table¶
| Player name | Main Products and Services | Volume Growth/Decline (2023-2024) | Revenue Growth/Decline (2023-2024) | Estimates of volumes (Notes) | Estimates of revenue (Notes) |
|---|---|---|---|---|---|
| Braskem S.A. | Thermoplastic resins (polyethylene, polypropylene, PVC), basic petrochemicals. | Decline in Brazilian capacity utilization (75% to 72%). | Decline (Net revenue R$ 69.937 billion in 2023 to R$ 77.411 billion in 2024, significant net loss in 2023 and 2024). Note: Revenue in R$ increased, but reported net income declined significantly. | Produces over 16 million tons/year globally. 5.7 million tons/year resins capacity in Brazil. | R$ 77.411 billion in 2024 (Net Revenue). US$ 14.2 billion in 2023 (Global Revenue). US$ 13.99 billion TTM in 2024 (Global Revenue). Accumulated net loss of R$ 11.320 billion in 2024. |
| The Mosaic Company (Mosaic Fertilizantes) | Phosphate and potash-based crop nutrients, animal feed ingredients. | Decline (9.7 million tonnes in 2023 to 9 million tonnes in 2024 in Brazil). | Decline (Net sales in Brazil US$ 5.7 billion in 2023 to US$ 4.4 billion in 2024). | Sold 9 million tonnes in Brazil in 2024. | US$ 4.4 billion in Brazil in 2024 (Net Sales). US$ 5.7 billion in Brazil in 2023 (Net Sales). Global net sales $11.1 billion in 2024, down from $13.7 billion in 2023. |
| BASF SE | Chemicals, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions (fungicides, etc.). | Specific Brazil volume not available; global production across diverse segments. | Decline in global sales (Global sales €87.3 billion in 2022 to €68.9 billion in 2023). South America sales declined in 2024 (first nine months) but Brazil showed organic local currency growth. | Global production across a wide range of chemical products. | Global sales €68.9 billion in 2023. Sales in South America €4,879 million in 2023. Brazilian architectural paints business had sales of ~$525 million in 2024 (prior to sale). Global agricultural solutions sales €9.798 billion in 2024, down from €10.092 billion in 2023. |
| Dow | Technology-based products and solutions for packaging, infrastructure, consumer solutions, etc. | Specific Brazil volume not consistently available; global production of over 6,000 products. | Decline in global sales (Global net sales $56.9 billion in 2022 to $44.6 billion in 2023). | Global production of over 6,000 products. | Global net sales $44.6 billion in 2023. Global revenue $10.4 billion in Q1 2025. Global revenue $11.12 billion TTM in 2024. |
| Unigel Participações S.A. | Styrenics (styrene), acrylics (acrylonitrile, methacrylic acid), nitrogen fertilizers (urea, ammonium sulfate). | Likely decline due to plant shutdowns in Agro segment. | Significant Decline (Net revenue R$ 5.15 billion in 2023 to R$ 3.15 billion in 2024). | Nominal capacity to produce ~2.9 million tons/year nitrogen products in Brazil. Produces 90,000 tons/year of ABS resin in Brazil. | R$ 3.15 billion in 2024 (Net Revenue). R$ 5.15 billion in 2023 (Net Revenue). R$ 8.5 billion in 2021 (Gross Revenue). |
| Nouryon | Specialty chemicals for personal care, cleaning goods, paints and coatings, agriculture, food, pharmaceuticals, building products. | Specific Brazil volume not detailed; global production across various segments. | Decline in global revenue (Global revenue $5.19 billion in 2023, a 10% decrease from 2022). | Operates a production site in Paulínia, Brazil; involved in supplying chemicals to pulp mills. | Global revenue $5.19 billion in 2023. Approximately $5 billion in annual revenue as of April 2025. 12% of 2023 global sales from Latin America. |
| Clariant AG | Specialty chemicals (care chemicals, adsorbents, additives, catalysts). | Specific Brazil volume not detailed; global operations. | Decline in global TTM revenue (Global TTM revenue $6.02 billion in 2015 to $4.72 billion in 2024). However, reported organic local currency growth in Brazil in the first nine months of 2024. | Global operations across its business segments. | Global TTM revenue $4.72 billion in 2024. Global sales in Americas declined by 3% in 9M 2024, but Brazil had organic local currency growth. |
| AkzoNobel N.V. | Paints, coatings, specialty chemicals. | Specific Brazil volume not detailed; multiple production plants in Brazil. | Global revenue TTM in 2024 available, but specific recent Brazil chemical revenue not detailed in provided snippets. Historical aim to significantly increase Brazil revenue. | Operates 15 production plants in Brazil. | Global TTM revenue $11.54 billion in 2024. Historical annual income of €300 million in Brazil (early 2000s), aimed to double to €1.5 billion (medium-term from 2011). |
| Elekeiroz S.A. | Oxo-alcohols, plasticizers. | Specific volume figures for 2023-2024 not consistently available; sole Latin American producer of oxo-alcohols, largest plasticizer producer in Brazil. | Growth from 2017 to 2023 (Sales >R$ 975 million in 2017 to Revenue R$ 1.408.647 million in 2023). Recent trend 2023-2024 not specified. | Sole producer of oxo-alcohols in Latin America, largest producer of plasticizers in Brazil. | R$ 1.408.647 million in 2023. Sales >R$ 975 million in 2017. |
| Ultrapar Participações S.A. | Historically specialty chemicals (Oxiteno - sold); currently primarily fuel distribution, LPG, and logistics (including chemical products). | Volume data specific to chemical manufacturing under Ultrapar not applicable after Oxiteno sale. Logistics arm handles chemical volumes. | N/A (Chemical manufacturing revenue not primary driver after Oxiteno sale). Consolidated net revenue increased from 2023 to 2024, but from non-chemical segments. | Logistics arm handles volumes of chemical products. | R$ 133.499 billion in 2024 (Consolidated Net Revenue - primarily non-chemical). R$ 126.049 billion in 2023 (Consolidated Net Revenue - primarily non-chemical). |
Note: The ranking is an estimation based on the available revenue data, prioritizing Brazil-specific chemical revenue where possible, and may not represent an exact ranking by purely chemical revenue for the 2024-2025 period due to data limitations.
References¶
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