Demand for global specialty chemicals will continue to grow in the future, but it also faces multiple challenges. Relevant institutions have analyzed this.
According to the report of the American Chemical Industry Council (ACC), the output of consumer products and pharmaceuticals will continue to maintain a good growth trend in 2012, which will drive the growth of demand for specialty chemicals. Last year's demand increased by 3.5%. Global demand for specialty chemicals is expected to continue to grow at a rate of 3.7% this year. The demand for specialty chemicals will continue to grow faster than bulk chemicals in the next two years.
IHS Chemical Company predicts that the specialty chemicals market will grow at an average annual growth rate of approximately 3.5% from 2010 to 2015, with an average annual growth rate of 8% in China and an average annual growth rate in the US, Western Europe and Japan. It is about 1.8%. As some end markets mature and competition intensifies, specialty chemical producers will continue to face low growth and low profit margins.
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