Abstract
Chemical industry underwent a significant upturn in the past few years. In Brazil, the position of this industry has been continuously strengthened as the second largest industrial sector. Current circumstances are discussed, especially the need for increased innovation, the impacts of nanotechnology, biotechnology and information technologies. Some misconceptions on the Brazilian chemical industry are criticized and recent improvements are described, including those related to environmental protection, to conclude that its prospects are very good, considering both the availability of basic raw materials (oil, natural gas, agribusiness products and minerals), the growing demand and increased competitiveness.
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