巴西化工行业逆势增长2.9%

Core Insights - The Brazilian chemical industry is projected to achieve a 2.9% revenue growth in 2025, despite a global market downturn, due to import barriers such as increased tariffs and anti-dumping duties [1] - The industry faces significant challenges, with a capacity utilization rate of only 64%, marking a near two-decade low [1] - Trade protection policies have helped stabilize production, sales, and revenue by limiting the expansion of imported products in the Brazilian chemical consumption market [1] Industry Developments - The Brazilian government approved an increase in import tariffs for 30 categories of chemical products in September 2024, which will continue into October 2025 [1] - Despite the protective measures, the total chemical imports are expected to rise by 13% year-on-year to $72.4 billion [1] Product-Specific Insights - In May, Brazil raised the anti-dumping tax on PVC from the U.S. from 8.2% to 43.7%, which has reduced U.S. imports; however, imports from exempt regions like Colombia and Egypt surged, leading to a 15% year-on-year increase in PVC imports in the first ten months [1] - In August, Brazil imposed temporary anti-dumping duties on polyethylene (PE) from the U.S. and Canada, resulting in a 23% and 31% decrease in exports from these countries, respectively [1]