The global speciality chemicals market is expected to shrink by approximately four percent to $451 billion in 2009, according to SRI Consulting’s report, "Overview of the Specialty Chemicals Industry." The report says the global specialty chemicals industry posted sales of $472 billion in 2008. Due to the current economic conditions, the report said the trend of negative growth will continue until sometime in 2010 and then gradually improve. Some countries and regions will suffer greater decline than others and some will rebound earlier and faster than others. The specialty chemicals market in 2010 is estimated to reach about the same size as in 2008 and then gradually climb during the next three years to reach $530 billion in 2013.
Specialty chemicals market shrinking
By Tim Wright
Published June 15, 2009
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