1、LATIN AMERICAPETROCHEMICALS AND CHEMICALS2023GLOBA L BU SINESS REP ORTS&APLAMacroeconomic Overview-Sustainability-Petrochemicals-Specialty Chemicals-Chemical Distribution-Logistics Dear Reader,Manuel DazExecutive DirectorAPLAAlfonso TejerinaDirector and General ManagerGBRUse QR code to read this rep

2、ort on any device.We are delighted to bring you the 2023 edition of our annual Latin America Petrochemicals and Chemicals report,a joint GBR and APLA publication.This years edition could not be more different than that of 2022,when the indus-try boasted record-breaking performance.The following page

3、s paint quite the opposite picture,detailing challenging market corrections that have thrown the industry into what is feared to be a prolonged downcycle.Yet,if we can sum-marize this 96-page report under one theme,it is the truism that where there is challenge,there is opportunity.At this transform

4、ative time,our Sustainability coverage has expanded to span every sub-sector and sub-topic including sustainability-driven innovations as a driver of growth;bio-based,recycled products and the circular economy;and renewables as both feedstock and catalyzer of green products like fuels and fertilizer

5、s.This year,we dive into the causes and consequences of the global downcycle,and look closely at how this affects Latin America.The regions chemical and petrochemical producers are particularly sensitive to the supply surplus and the fierce competition that the current oversupply of basic chemicals

6、has created.Imports from both the United States and Asia have eroded the market share of local suppliers,which find themselves in a less competitive cost position.Short-ages of feedstock and high prices,as well as a higher cost of energy have threatened the industrys competitiveness in Latam for yea