Dublin, Aug. 15, 2024 (GLOBE NEWSWIRE) -- The "Brazil Chemical Licensing Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The Brazil chemical licensing market is anticipated to demonstrate a robust growth trajectory from 2024 to 2029. With an expected compound annual growth rate (CAGR) of 4.10%, the market valuation is forecasted to rise from US$458.776 million to US$560.742 million.
This growth projection is backed by an amalgamation of factors including regulatory shifts, demand across diverse industries, and strategic investments in the chemical and agriculture sectors.
Developments in Brazil's legal framework, particularly with the introduction of the Brazil REACH Regulation or PL 6120/19, are set to streamline chemical evaluation, registration, and control. By aligning with international specifications such as the globally harmonized system, this legislation aims to enhance transparency and simplify the licensing procedure, significantly impacting the market in a favorable manner.
Drivers of the Brazil Chemical Licensing Market
The uptick in licensing within the pharmaceutical industry serves as one of the major drivers of market expansion. The sector fosters an environment conducive to the increase in licensing agreements, bolstered by regulations safeguarding patents and stimulating innovation. Coupled with Brazil's position as a leading agricultural player, which necessitates extensive input of chemical products, the market is poised for significant growth. Furthermore, Sumitomo Corporation do Brasil exemplifies key players capitalizing on Brazil's status as a top global supplier of chemical and agricultural products, underscoring the potential for direct investment and strategic partnerships that contribute to market expansion.
Emerging Trends and State-Specific Growth
The surge in organic chemical demand reflects the shifting consumer preference towards sustainable and environmentally friendly products, which is stimulating further market growth. Additionally, financial incentives and government policies that support sustainable practices have catalyzed this movement towards organic production. The oil & gas sector further bolsters the Brazil chemical licensing market due to increased offshore drilling activities and a flourishing refining sector. Brazil's pre-salt oil production ensuring its position among the top 10 oil-producing countries globally underscores the sector's influence on the demand for chemical licenses.
The state of São Paulo is expected to command a significant market share throughout the forecast period, with its industrial prowess and pivotal role in the chemical industry landscape. Companies with a strong foothold in São Paulo, exemplified by Braskem, are contributing to the surge in demand for chemical licenses within the state.
Segmentation of the Market
The Brazil chemical licensing market's analysis encompasses distinguished segments based on type, application, and state. By type, the market is divided into organic and inorganic chemicals. The application segment covers oil & gas, petrochemicals, pharmaceuticals, and others. Geographically, the market's segmentation includes São Paulo, Minas Gerais, Rio de Janeiro, and other states.
The findings reveal a dynamic market environment in Brazil, indicative of progressive regulatory measures, an increase in licensing requirements across various industries, and heightened demand across the board. This blend of factors sets a promising trajectory for the Brazil chemical licensing market through 2029.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $458.78 Million |
| Forecasted Market Value (USD) by 2029 | $560.74 Million |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Brazil |
Companies Featured
- BSC Especialidades Quimicas
- Chevron Philips Chemical
- Eastman
- Dow
- CIRS Group
- Lummus Technology
- Solvay
For more information about this report visit https://www.researchandmarkets.com/r/dpk373
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