The world’s largest players in the petrochemical and chemical industries continue to identify Latin America as a key market to drive business in the medium to long term. Citing an increasingly attractive consumer market and developments in the region’s energy and agricultural prospects as underlying factors, companies large and small are all vying to position themselves to take advantage of projected growth. As a result, heightened M&A activity and a growing focus on integrating service offerings have benchmarked 2019 as an auspicious year for the chemical and petrochemical industries in Latin America. Nonetheless, continued political upheaval, sluggish economic performance in the region’s largest markets and poor infrastructure links remain fundamental obstacles to success. Unfavorable global trade dynamics as well as a growing urgency to address the issue of sustainability present industry leaders with further challenges, but a growing acceptance for the benefits of industry 4.0 promises to favor companies that invest in a more digitally savvy and environmentally friendly future.