The petrochemicals sector is dominated by state-owned Pemex's petrochemical subsidiary, Pemex Petroquimica (PPQ). Indelpro, a joint venture (JV) between Mexico-based Alfa Group and Basell Lyondell, has a petrochemical complex at Altamira with 260,000 tonnes per annum (tpa) of propylene capacity feeding 590,000tpa of polypropylene (PP), representing the country's entire PP production capacity. In 2016, Braskem Idesa's Ethylene XXI added 1.05mn tpa ethylene capacity, 750,000tpa highdensity polyethylene (HDPE) capacity and 300,000tpa low-density polyethylene (LDPE) capacity. No further expansions are expected in Latin America in the next five years, as proposals for new facilities in Brazil, Venezuela and Colombia have fallen through. Three Mexican private firms produce polyvinyl chloride (PVC): Primex, which operates a 350,000tpa plant at Altamira and 45,000tpa facility at Tlalnepantla; Mexichem, with a 42,000tpa plant at Tlaxcala and a 30,000tpa plant at Texmelucan; and Policyd, which operates a 200,000tpa plant at Altamira and a 45,000tpa plant at Tlalnepantla. Polystyrene (PS) and polyethylene terephthalate (PET) capacities are owned by private companies, while Pemex subsidiaries control all of Mexico's polyethylene (PE) and aromatics capacities.

The Peruvian petrochemical industry is characterised by small companies with narrow portfolios and foreign investors with niche positions. There have been several newer projects proposed, some of which would turn Peru into a petrochemicals exporter by utilising the country's significant ethane reserves to produce olefins and polymer resins as well as fertilisers. However, proposed projects have failed to advance due to a lack of progress on securing gas feedstock and the pipelines needed to deliver it. Yet, the country could easily host a world-scale cracker due to its strong advantage in low-cost feedstock. Peru has comparatively limited refining capacity; the country has six refineries with total capacity of 198,950 barrels per day (b/d). Repsol-operated La Pampilla is the country's largest refinery, with nameplate capacity of 102,000b/d; the other five facilities - Talara, Couchan, Iquitos, El Milagro and Pucallpa - are run by state-owned Petroperú.

以煤为主要原料进行生产，甲醇逐渐成化工业链的关键节点。传统应用领域逐渐趋稳，需求弹性相对较小。甲醇行业中短期关注能源价格的相对变化和下游需求好转。