Global Business Reports


Mariolga Guyon, Maeve Flaherty, Eneko Johnson

Mexico Chemicals 2024

April 19, 2024

In August 2023, Mexican exports to the US surpassed China for the first time. As companies prioritize securing supply their chains after years of logistics challenges, Mexico has begun to see major benefits. With a spate of new infrastructure projects such as the Interoceanic Corridor of the Isthmus of Tehuantepec coming online in 2023, the country is actively opening itself to investment. The chemical industry, in particular, is positioned for nearshoring-driven growth.

Depressed prices for chemicals and petrochemicals globally were, however, a challenge for companies along the Mexican chemical industry value chain. Locally, feedstock shortages remained a concern due to the unreliability of Pemex. And regulation has been an ever-present threat to chemical manufacturers, with a new ban of glyphosates and stringent restrictions on drug precursors complicating strategic planning and operations.

In this challenging landscape, and with the specter of both local and global elections looming, the chemical industry spent 2023 focused on government relations and developing a unified approach to policy and political change. Individual companies, meanwhile, prioritized incorporating advanced technologies to improve efficiencies and implementing their ambitious sustainability agendas. Mexico’s chemical industry is entering 2024 with stronger supply chains, lower emissions, and improved processes. It is poised to play a pivotal role in the country’s economic development.


Haldor Topsoe discusses the potential for energy transition in Latin America.
The Mexican Union of Agrochemicals Manufacturers and Formulators (UMFFAAC) describes the main themes impacting its members.
Cristian García of PROCCYT explains the dynamics influencing Mexico’s crop protecting sector.
FMC discusses the rise of sustainable products which have minimal residues on crops.


Chile Mining 2024 Pre-Release

The Chilean mining renaissance has begun. In 2024, the country is set to experience its first increase in copper production since 2018, driven by Codelco’s production surge and Teck Resources’ Quebrada Blanca II coming online. This year also saw the first major regulatory update since 1983 with amendments to Law No. 21,420, which modernized the mining framework. The government has shown strong support for the industry by committing to reduce permit processing times by a third and proposing 20 actionable measures to streamline processes. Additionally, Chile classified its 69 saline environments, leaving 31 open for private development and initiating a request for information process in April to rapidly advance these areas.



"We plan to double our copper production by the end of the decade. There remains significant upside potential in the gold industry, and the copper operations are strategic and additive to that."