South America's textile industry is experiencing rapid change. Brazil, Argentina, and Columbia are emerging as an investment hub for foreign investors, mostly due to the trade wars between the two large economies, which is seeing players moving out of North America and investing in safe destinations such as South America. Furthermore, the governments in Central and South American are directing their focus on internal development through new policies, such as building special economic zones (SEZs) to catalyze economic development. For example, South America has more than 550 SEZs that are home to about 10,000 enterprises, employing over a million employees.
In spite of a sluggish growth rate, South America is expected to record considerable investments. For instance, China is the biggest investor in the region. Chinese investments since the year 2005 have accounted for around USD 141 billion. As per the World Bank, Chile's industrial sector contributed around 30% to its GDP in 2018.
In addition to the above-mentioned points, the textile industry is seeing positive growth and experiencing a paradigm shift. Furthermore, increasing disposable incomes and rising fashion consciousness are propelling the market growth for textiles. Magnesium stearate is used extensively in the textile industry as an anti-sticking agent, lubricant, and emulsifier.
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COVID-19 Impact Analysis
The COVID -19 has impacted various industries and decelerated the demand globally. The pandemic has created a blip in the financial markets and led to an increased inventory of past orders that stand canceled due to the pandemic. The pandemic has also led the big players to assimilate small businesses and create an alternate supply chain, which is less dependent on China.
Magnesium Stearate Market: Segmentation
Central and South America and the Caribbean
The Middle East and Africa
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* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now