The current GDP of Brazil is more than 2 Trillion Dollars, which is significantly larger compared to just one decade ago. A country that is populated with over Two Hundred Million People, Brazil is expected to experience economic growth of 1.6% as of 2019. That number is impressive given the country’s current GDP. There are many booming industries in Brazil and textile is one of the main incomes of the nation. The Brazilian Dye+Chem industry has been experiencing growth for multiple years and this growth is expected to increase even more in the coming years.
With the rising population and demand, not only from the Nation but also from all over the world, this increase is not surprising. At first, there were not as many dyes chemical companies however currently, the number of Dye+Chem companies in Brazil is significantly high. Furthermore- because of the large textile industry of Brazil, there is a huge demand for dyeing chemicals in Brazil- a demand that cannot be sustained with the local supply alone- thus comes the importance of foreign companies. Brazil has a great market most of which is still unexplored, with a strategic, logistic and established regulatory system that slows collaboration with other Latin America Countries. Additionally, private companies from all over the world will surely benefit if they expose themselves to such a diverse and culturally rich market.
Group of 38 Brazilian companies expects to generate US$ 400 million in business at the world's largest leather event, Hong Kong's APLF, which shows leather, is a very powerful industry and it depends significantly on the dyeing industry. In addition, the leather industry is just one of the industries that require dyes and coloring for their product. These figures explain largely why the number of factories in Brazil is still rising and foreign business transactions as well. There is no doubt that investing in dyeing is relatively safe when the potential rewards are compared. Lastly, the population of Brazil is rising fast at a steady-state, which creates a large impact on the Demand.