Brasília – The Brazilian Chemical Industry Association (Abiquim) reported the sector intends to invest, by 2024, around BRL 1.9 billion (about USD 369 million at the current rate) in “initiatives that could result in the creation of jobs and technological innovations.” The announcement was made this Thursday (23) in Brasília during the event Diálogos com a Química [Dialogues with Chemistry], organized by the entity in partnership with the Secretariat for Strategic Affairs (SAE) of the Brazilian Presidency of the Republic.
The meeting brought together representatives of public and private institutions. The president of Abiquim, Ciro Marino, said the Brazilian chemical industry is the sixth-largest in the world; still, it could leap to the fourth position. “Few countries have the potential Brazil has,” said Marino, presenting figures for the sector, which generates 2 million direct and indirect jobs, around USD 190 billion in revenue, and accounts for 11% of the Brazilian industrial Gross Domestic Product (GDP).
According to Abiquim, demand for chemical products in Brazil had an average annual growth of 3.1% from 1990 to 2021. Imports played a “key role in this phase of economic recovery Brazil is going through,” detailed the entity, informing in 2021, imports of chemical products accounted for 46% of the domestic market.
“Considering what chemistry makes, starting from natural inputs, with Brazil’s wealth, being in sixth place is subpar from our possibility. We think the fourth position would be very reasonable,” added the Abiquim director.
Translated by Elúsio Brasileiro
