Market

Latin American Art: Structural Growth between Market and Institutions

From the Venice Biennale to SP-Arte to the new generation of the 1990s: an increasingly global and layered scene

by Maria Adelaide Marchesoni

15 April 2026

«Azulejão (voluta)», 2016 di Adriana Varejão, olio su gesso su tela, (180 x 180 cm)

5' min read

Translated by AI

Versione italiana

Key points

Latin American Artists in the Lagoon
SP-Art as a bridge between local scene and global system
The legitimisation of the new generations

5' min read

Translated by AI

Versione italiana

In recent years, the Latin American contemporary art market has consolidated an increasingly significant presence within the global system. Between 2024 and 2026, a structural growth can be observed, supported by an increased international visibility, a renewed institutional interest and an artistic production capable of intercepting some of the most pressing issues of the present, such as identity, ecology, memory and post-colonialism.

This development is, however, part of a more cautious global context, marked by a settling phase after the post-pandemic expansion. The international market, while showing signs of recovery, now appears less prone to speculation and more oriented towards established artists or practices supported by strong curatorial legitimacy. Within this framework, Latin American art stands out for a growth that is more qualitative than purely economic, which is reflected not only in the market but also in the main institutional platforms.

Latin American artists in the lagoon

The Venice Biennale 2026, for example, features several artists from Latin America and its diasporas starting with Rosanna Paulino (1967) and Adriana Varejão (Rio de Janeiro, 1964) who represent Brazil in Venice. Both in the galleries of important international galleries present their project, 'Comigo Ninguém Pode' ('With me no one can'), which explores colonial wounds and resilience, using the toxic plant Dieffenbachia as a metaphor for beauty and ambiguity. Paulino, already present in 2022 in the exhibition 'The Milk of Dreams', in his work embraces numerous fields such as drawing, embroidery, engraving, sculpture to explore the history of racial violence and the persistent legacy of slavery in Brazil. Adriana Varejao, known for her "Azulejos", blue and white tiles symbolising the Portuguese presence in Brazil, uses them to reflect on the cultural hybridisation, often forced, that took place during colonisation (auction prices between $200,000 and $900,000, the work "Macau Wall (Blue)" sold for $845,000).

In the main exhibition "In Minor Keys" we find Ayrson Heráclito, born in 1968 (prices from $7,000 for photographs from Simões de Assis Art Gallery, Curitiba, Brazil) a Bahian artist whose work is deeply rooted in Afro-Brazilian culture and its sacred elements,Carolina Caycedo (1978) of Colombian origin (from Istituto de Vision, Bogota, $43,000 textile works) whose works intertwine environmental and social dimensions, contributing to the construction of a historical and ecological memory, and the Venezuelan Alvaro Barrington, presences that confirm the increasingly central role of the region in the global contemporary discourse.

Also in Venice, the exhibition "Algebra" at the Pinault Collection at Punta della Dogana the solo show of Brazilian artist Paulo Nazareth retraces his practice based on travel, encounter and direct experience of territories. Crossing the Americas and Africa for years along the routes of migrants and diasporic communities, the artist has transformed displacement into an instrument of research and testimony, collecting stories and memories that flow into his works. The artist is strongly supported by international institutions and galleries, and his works range from thousands of euros for works on paper to significantly higher figures for installations and complex works.

Paulo Nazareth. Immagine dell’installazione «Paulo Nazareth. Algebra», 2026, Punta della Dogana, Venezia.

SP-Art as bridge between local scene and global system

The fair SP-Arte took place from 8 to 12 April in São Paulo. It has just come to an end: 'There has been a fundamental change in mentality,' emphasises Fernanda Feitosa, founder of SP-Arte. 'Twenty years ago, internationalisation was an ambition or an expectation; today it is an integral part of the daily operations of the main galleries, which constantly travel, participate in the main fairs, build relationships with institutions abroad and represent artists within a global circuit. What is interesting is that this international presence has not diluted the identity, but strengthened it: the most successful Brazilian galleries today are those that know how to operate globally while remaining deeply rooted in their own cultural context'. "SP-Arte,' continues Feitosa, 'fits into this context as a platform and as a bridge, connecting Brazil and Latin America to the international art system and, at the same time, inviting the world to engage more deeply with what is produced here'.

Against this backdrop, the Latin American art scene is increasingly taking shape as a balance between historicised artists and a new emerging generation already supported by the market and institutions. "The proposals presented at SP-Arte clearly reflect this co-presence, making the fair a privileged observatory on the region's present," says Feitosa.

The legitimisation of the new generations

One of the most striking features of the Latin American system is the way in which a new generation of artists asserts itself: not so much through the primary market, but through a process of institutional recognition through biennials, residencies and museum exhibitions. It is this process that ensures a growing international visibility, thanks to practices capable of combining formal research and thematic urgency.

«Diosa del sueño«, 2024 di Santiago Yahuarcani. Colori naturali e acrilico su tela 134 x 165 cm

Alongside the better-known names are figures such as Santiago Yahuarcani (Pebas, Peru, 1960), who testify to an increasingly fluid transition between the emerging scene and institutional recognition. The MASP - São Paulo Art Museum - recently opened an exhibition dedicated to him. An indigenous artist belonging to the Uitoto people, active in the Peruvian Amazon, Yahuarcani develops a practice deeply rooted in the oral traditions, cosmology and visual culture of his community, interweaving family memory, history and imagination. The exhibition brings together around thirty paintings, including previously unpublished works, and marks a further step in his international recognition following his participation in the 60th Venice Biennale (2024), where his work attracted critical and public attention (prices from $85,000 at Stephen Friedman Gallery, London, New York).

Alongside the now canonised figures, a particularly dynamic young scene emerges, represented by artists such as Manuela Navas (1996), represented by Janaina Torres Galeria (São Paulo), whose painting practices are in a still accessible market range - between EUR 5,000 and EUR 18,000 - but growing rapidly.

«Sem título [Untitled]», 2025 di Kelton Campos Fausto. Pigmenti naturali e acrilico su lino

In this same direction is a generation of artists born in the 1990s, whose affirmation is developing within an increasingly structured and interconnected system. A Gentil Carioca, a historic gallery with branches in São Paulo and Rio de Janeiro, represents a privileged observatory of these dynamics, supporting practices that combine formal experimentation and cultural rootedness. Artists such as Kelton Campos Fausto (1996), Vinicius Gerheim (1992) and Marcela Cantuária (1991) develop distinct yet convergent languages in their attention to the social and symbolic context. Their works move between painting, installation and hybrid practices, interweaving references to urban culture, collective memory and the transformations of the contemporary landscape. What emerges is a production capable of articulating new forms of representation of identity and territory, in line with a scene that, although young, already appears to be fully inserted in circuits of international legitimacy. Prices for the large paintings are around USD 23,000.

«Sem título [Untitled]», 2024 di Maxwell AlexandreOlio su carta da imballaggio 120 x 160 cm

In the same direction is another core group of artists supported by Almeida & Dale, a São Paulo-based gallery. Among them, Maxwell Alexandre (Rio de Janeiro, 1990), Marina Woisky (São Paulo, 1996) and Thiago Hattner (São Paulo, 1990) develop distinct practices, but are united by a strong focus on the dimension of identity and the construction of the contemporary image. Their research is mainly articulated through painting, declined in different forms: from Maxwell Alexandre's large compositions, which investigate the representation of black bodies and urban space, to Marina Woisky's more intimate and suspended atmospheres, up to Thiago Hattner's stratified language, in which sign, matter and symbol are intertwined (prices range between 8,000 and 25,000 dollars). What emerges is a production that, while moving between personal and collective dimensions, confirms the role of this generation within an increasingly structured and international system.

« Grade com pássaro», 2025 di Marina Woisky. Stampa su tessuto, malta e resina (82 x 96 x 5 cm)

Finally, for those who want to take a look at Latin American art in Milan, the ArtNoble gallery is hosting the first European solo exhibition of Amparo Viau (1991), with an installation consisting of a single drawing about 40 metres long, made with chalk on paper. The artist has built a significant presence on the Latin American scene, between institutional exhibitions - including the Fundación PROA - and awards such as the Premio a la Obra de Arte at arteBA 2022. Prices start at around EUR 10,000 and go up to EUR 35,000.