What is your assessment of the petrochemical market in 2025?

Since 2022, the global petrochemical industry has faced an imbalance caused by a significant oversupply. This trend, which originated in the US with shale gas projects and was reinforced by large-scale capacity expansions in China and the Middle East, has created sustained pressure on global players.

Braskem has been impacted by the reduction in margins between resin prices and naphtha costs, reducing our competitiveness. At the same time, Latin America – and Brazil in particular – has seen an increase in imports, often at prices below cost, compromising fair competition. Together with Abiquim and other industry associations, we are actively engaged with the Brazilian government to safeguard the integrity of the regional petrochemical value chain.

How is Braskem adapting to this challenging scenario?

We have launched a broad transformation program aimed at strengthening competitiveness and simplifying our organizational structure, with structural changes across our assets and businesses.

In Brazil, where production is primarily based on naphtha crackers, we are working to balance our feedstock mix by expanding ethane processing capacity. A key project is the planned expansion of our cracker in Rio de Janeiro, supported by Petrobras and fueled by pre-salt gas via Route 3, for which final investment approval is expected in early 2026.

What will be the key factor in the industry's recovery?

The key word is resilience. Our goal is to maintain a solid domestic petrochemical base that generates social value, jobs and tax revenue, while fostering competitiveness. Braskem acts as a driver of this broader transformation, but success depends on the unified efforts of the industry, the value chain, and public authorities to achieve sustainable and resilient growth in Brazil.

How is Braskem advancing its green product portfolio?

We are expanding initiatives based on renewable sources, leveraging Brazilian ethanol to increase the production of bio-based polyethylene and strengthen our sustainable differentiation globally.

Braskem has been producing renewable ethylene under the pioneering ‘I'm green’ bio-based brand for 15 years, using the same plants used for fossil-based polyethylene. In 2025, we celebrated this milestone with an annual capacity increase of 275,000 tons. We are also developing international projects along the same lines.

Our I'm green bio-based polyethylene absorbs more CO₂ through sugarcane photosynthesis than the production process emits, achieving a net-negative footprint. We utilize multiple plants to offer a diversified product portfolio for local and global markets. Through the Cazoolo development center, we collaborate with clients to create sustainable solutions for various applications.

Future plans include the development of renewable propylene and other bio-based projects to strengthen competitiveness by leveraging Brazil's green advantage.

Could you tell us about Braskem's work to build a circular economy?

We adopt a multi-vector approach to sustainability, combining renewable plastics with advanced recycling to increase circularity. We maintain a significant stake in Wise, a leading recycler, and have in-house capabilities to commercialize recycled products, developing solutions tailored to our customers' needs.

As an active member of the Alliance to End Plastic Waste, we are working to create a national program for Brazil. 

What other sustainability initiatives is Braskem implementing?

Our project to transform our PVC plant in Alagoas with more sustainable processes is advancing in several phases. It began with a biomass-based steam generation project, implemented in partnership with Veolia, which uses eucalyptus to efficiently produce energy and steam.

In addition, we will produce green hydrogen for use as an input in the production process, also in partnership with Veolia. These projects not only ensure operational continuity and economic viability but also strengthen the local supply chain. This partnership demonstrates our holistic approach to sustainability, which combines environmental responsibility, economic impact, and community engagement—setting a new standard for our future initiatives in the sector.

How would you summarize Braskem's priorities for the coming years?

Our core priority is reinventing Braskem to ensure long-term competitiveness by diversifying raw materials and advancing renewable solutions. We will continue to serve customers who demand fossil-based inputs, but our petrochemical hubs are being reoriented toward renewable-based production.

The strategy encompasses everything from raw material sourcing to industrial operations, commercial development, and company management. By expanding I'm green bio-based polyethylene and exploring new markets and customer segments, we seek to position Brazil as a global leader in sustainable petrochemicals.