After a significant acceleration in growth during the previous year, the United States specialty chemicals market fell into decline in 2009. Fast recovery is expected however in the forecast period and the market is set to grow at a stronger and more stable rate towards 2014.
The US specialty chemicals market generated total revenues of $176.2 billion in 2009, representing a compound annual growth rate (CAGR) of 4.7% for the period spanning 2005-2009.
In comparison, the European and Asia-Pacific markets grew with CAGRs of 3.9% and 4.4% respectively, over the same period, to reach respective values of $204.7 billion and $215.2 billion in 2009.
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