PUBLISHER: The Insight Partners | PRODUCT CODE: 1533059
PUBLISHER: The Insight Partners | PRODUCT CODE: 1533059
The South & Central America dust control or suppression chemicals market was valued at US$ 72.40 million in 2022 and is expected to reach US$ 96.34 million by 2030; it is estimated to record a CAGR of 3.6% from 2022 to 2030.
Strong Growth in Pharmaceutical and Food Processing Industry Fuels South & Central America Dust Control or Suppression Chemicals Market
The Brazilian pharmaceutical industry has advanced significantly in the past few years. A limited number of international pharmaceutical industries operate through manufacturing facilities in the country. However, several US-based companies are expanding their manufacturing operations to Brazil due to factors such as vicinity to the mass market, lower material costs, economic connections, and low labor expenses. Furthermore, the increase in the production of generic, over-the-counter medicines and government strategies for rising domestic investments are key factors responsible for the development of the pharmaceutical industry in Brazil. As per the International Trade Administration, Brazil is among the top six pharmaceutical markets, reporting US$ 16.37 billion worth of sales of drugs and pharmaceuticals in 2021, a rise of 14.26% from 2020. The development of the pharmaceutical industry boosts innovation and creates a conducive environment for conducting clinical research in the country. Pharmaceutical processes such as active pharmaceutical ingredients production, tablet presses, tablet coating, spray drying, and granulation lead to dust formation.
According to the Brazilian Food Processors' Association, the Brazilian food processing sector generated revenue of US$ 208 billion in 2022, a rise of 16.6% compared to 2021. The Brazilian food processing sector involves 38 thousand companies, of which both small-sized and medium-sized industries accounted for the majority of concentration. Dust control or suppression is a significant aspect of food processing from both food safety and employee health perspective. The presence of dust in the processing environment can cause sanitation concerns, microbial contamination, health issues, and other hazards. Food processors also adhere to regulations for controlling food processing dust by several government and international authorities such as the Food and Drug Administration, United States Department of Agriculture, and Occupational Safety and Health Administration. Thus, strong growth in the pharmaceutical and food processing industry is projected to create lucrative opportunities for the dust control or suppression chemicals market.
South & Central America Dust Control or Suppression Chemicals Market Overview
South & Central America offers potential opportunities to the dust suppressant chemicals market owing to the high growth of the construction and oil & gas sectors in developing economies such as Argentina and Brazil. The region is expected to gain economic recovery in various countries, including Brazil, which is anticipated to contribute to the continuous growth of the market in the region during the forecast period. Moreover, Brazil and Argentina are attributed to the surging urbanization and increasing construction projects. Furthermore, the governments of various countries in South & Central America are focusing on developing infrastructure projects, which is expected to boost the demand for dust suppressant chemicals in the construction industry.
South & Central America Dust Control or Suppression Chemicals Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Dust Control or Suppression Chemicals Market Segmentation
The South & Central America dust control or suppression chemicals market is segmented based on chemical type, end-use industry, and country. Based on chemical type, the South & Central America dust control or suppression chemicals market is segmented into lignin sulfonate, calcium chloride, magnesium chloride, asphalt emulsions, oil emulsions, polymeric emulsions, and others. The calcium chloride segment held the largest market share in 2022.
In terms of end-use industry, the South & Central America dust control or suppression chemicals market is categorized into mining, construction, oil and gas, food and beverage, textile, glass and ceramics, pharmaceuticals, and others. The mining segment held the largest market share in 2022.
Based on country, the South & Central America dust control or suppression chemicals market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America dust control or suppression chemicals market share in 2022.
Benetech Inc, Veolia Environnement SA, Ecolab Inc, Quaker Chemical Corp, Dow Inc, BASF SE, Solenis LLC, and Borregaard ASA are some of the leading players operating in the South & Central America dust control or suppression chemicals market.