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The Specialty Chemicals Market in Asia-Pacific 2010
Venn Research Inc., June 2010, Pages: 40
After a period of fluctuating growth, the Asia-Pacific specialty chemicals market decelerated sharply in 2009. Fast recovery is expected however, and the market is set to grow at a strong and stable rate towards 2014.
The specialty chemicals market was, like many other markets, affected by the recent financial and economic crisis. While several specialty chemicals segments - i.e. plastics additives, textile chemicals, construction chemicals, electronic chemicals or specialty polymers - followed the downturn of their end-use industries, others such as cosmetic chemicals, food additives, and industrial cleaners, have showed more resilience to the negative economic conditions.
The Asia-Pacific specialty chemicals market generated total revenues of $215.2 billion in 2009, representing a compound annual growth rate (CAGR) of 4.4% for the period spanning 2005-2009. In comparison, the Chinese and South Korean markets grew with CAGRs of 9.9% and 7.5% respectively, over the same period, to reach respective values of $56.5 billion and $20.6 billion in 2009.
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