After a period of fluctuating growth, a significant deceleration occurred within the European specialty chemicals market, followed by a decline in value in 2009. Fast recovery is expected however, and the market is set to grow at a strong and more 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 European specialty chemicals market generated total revenues of $204.7 billion in 2009, representing a compound annual growth rate (CAGR) of 3.9% for the period spanning 2005-2009. In comparison, the German and UK markets grew with CAGRs of 0.7% and 2.9% respectively, over the same period, to reach respective values of $49 billion and $16.4 billion in 2009.
Source: http://www.reportlinker.com/