{"product_id":"clariant-five-forces-analysis","title":"Clariant AG - Textile Chemicals, Paper Specialties, and Emulsions Businesses Porter's Five Forces Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFrom Overview to Strategy Blueprint\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eClariant AG’s Textile Chemicals, Paper Specialties and Emulsions face moderate supplier power, intense buyer pressure in commoditized segments, differentiated product advantages and emerging substitute threats from bio-based alternatives; regulatory and scale dynamics further shape competitiveness. This brief snapshot only scratches the surface. Unlock the full Porter's Five Forces Analysis to explore Clariant AG - Textile Chemicals, Paper Specialties, and Emulsions Businesses’s competitive dynamics, market pressures, and strategic advantages in detail.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003euppliers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eConcentrated critical raw materials\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eClariant's catalysts and specialty additives depend on platinum-group metals and minerals like bentonite, with upstream supply highly concentrated: South Africa supplies roughly 70% of global platinum and Russia accounted for about 40% of palladium production in recent years. This concentration gives key suppliers strong bargaining leverage, especially during 2024 tightness in PGM markets. Long-term contracts cushion but do not eliminate scarcity-driven price spikes. Geopolitical shocks can quickly transmit into higher input costs.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSpecialty intermediates and bio-based inputs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eMany performance ingredients for Clariant’s Textile Chemicals, Paper Specialties and Emulsions businesses come from niche surfactant, solvent and bio-based oil producers, concentrating supplier power; qualification times for new suppliers typically span 3–9 months and raise effective switching costs. Suppliers with sustainability certifications often command premiums of about 5–15%, while dual-sourcing mitigates risk but slows changes due to equivalency testing.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEnergy and logistics sensitivity\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eEnergy prices and global logistics capacity drive delivered input costs for chemicals and minerals, with energy representing roughly 20–30% of variable input costs in many specialty-chemical processes; volatile freight and utilities pricing strengthens supplier bargaining when markets tighten. Freight indices normalized after 2021–22 spikes but remain a source of cost volatility. Clariant’s global footprint and active hedging partially buffer this exposure, yet localized outages or port congestion can still amplify supplier power regionally.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory and ESG constraints upstream\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eRegulatory regimes—REACH (~22,000 registered substances per ECHA 2024) and the US TSCA Inventory (~86,000 chemicals per EPA 2024)—plus mining stewardship standards shrink the pool of compliant upstream suppliers; REACH registration costs (commonly €1–3m per substance) raise entry barriers, concentrating supply and increasing leverage of approved vendors over Clariant’s Textile, Paper and Emulsions lines.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eCompliance concentration: fewer qualified vendors\u003c\/li\u003e\n\u003cli\u003eCost barrier: €1–3m REACH registration\u003c\/li\u003e\n\u003cli\u003eClariant influence: audits and co-development shape terms but not dependence\u003c\/li\u003e\n\u003cli\u003eESG risk: incidents can rapidly cut supplier options\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTechnical co-development lock-in\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eJointly developed catalyst supports, actives and tailored intermediates create deep interdependence between Clariant and customers, with custom specs reducing practicality of rapid supplier switching; multiyear agreements (commonly 3–5 years) can stabilize pricing but embed supplier influence. Renegotiations typically favor suppliers when reformulation or requalification would take 6–18 months and incur significant CAPEX and validation costs.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003elock-in: joint IP and custom specs\u003c\/li\u003e\n\u003cli\u003econtract length: multiyear (3–5 yrs)\u003c\/li\u003e\n\u003cli\u003ereformulation lead time: 6–18 months\u003c\/li\u003e\n\u003cli\u003esupplier leverage: elevated during renegotiation\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSupplier power high — South Africa \u003cstrong\u003e~70%\u003c\/strong\u003e platinum; energy \u003cstrong\u003e20–30%\u003c\/strong\u003e variable\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eSupplier power is high: PGMs concentrated (South Africa ~70% platinum in 2024) and niche surfactant\/solvent vendors raise switching costs (qualification 3–9 months). Energy\/freight (≈20–30% of variable costs) and REACH compliance (€1–3m per substance) further concentrate suppliers. Multiyear contracts (3–5 yrs) and custom specs lock-in, so renegotiations favor suppliers.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024 Value\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003ePlatinum supply\u003c\/td\u003e\n\u003ctd\u003eSouth Africa ~70%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eREACH cost\u003c\/td\u003e\n\u003ctd\u003e€1–3m\/substance\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEnergy share\u003c\/td\u003e\n\u003ctd\u003e20–30%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eQual. lead time\u003c\/td\u003e\n\u003ctd\u003e3–9 months\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003ePorter’s Five Forces analysis for Clariant AG’s Textile Chemicals, Paper Specialties, and Emulsions businesses reveals competitive intensity, buyer\/supplier leverage, substitute threats, and entry barriers—identifying key pricing pressures, disruptive risks, and strategic levers to protect margin and market share.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eClear one-sheet Porter's Five Forces for Clariant's Textile Chemicals, Paper Specialties \u0026amp; Emulsions—quickly spot supplier, buyer, substitute and entrant pressures to relieve strategic pain points and feed boardroom decks.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLarge multinational buyers consolidate volume\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLarge multinational buyers like Procter \u0026amp; Gamble (annual sales \u0026gt;80 billion USD) and Unilever (\u0026gt;50 billion EUR) consolidate volume across regions, bundling purchases for FMCG, home and personal care majors.\u003c\/p\u003e\n\u003cp\u003eGlobal refiners, with world refining throughput near 100 million barrels per day, run centralized tenders that bundle chemical and surfactant buys.\u003c\/p\u003e\n\u003cp\u003eTheir scale and tendering practices pressure pricing and service levels, enabling shifts among qualified vendors to extract concessions; framework agreements compress margins despite steady volumes.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh switching and qualification costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePerformance ingredients and catalysts in textiles, paper and emulsions require lab validation, regulatory filings and line trials, with approval timelines often exceeding 12 months, creating high switching and qualification costs that dampen buyer power once specified. The operational disruption risk favors continuity over price-only decisions. Nevertheless many OEMs maintain dual-sourcing to keep pricing honest.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDemand for sustainability and compliance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eBuyers increasingly mandate biodegradability, traceability and low-carbon footprints, driving switching unless suppliers comply; Clariant, with group sales around CHF 3.6bn (2023) and published ESG targets, gains pricing resilience and customer stickiness when meeting these criteria. Clariant’s verified sustainability credentials can blunt buyer leverage, but slow adaptation to 2024 standards materially increases buyers’ power to switch to compliant rivals.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCustomization and technical service as differentiators\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eCustomization and technical service—application support, dosing optimization, and co-development—raise perceived value in Clariant AGs Textile Chemicals, Paper Specialties, and Emulsions businesses, shifting competition from pure price to solution selling and tempering buyer power.\u003c\/p\u003e\n\u003cp\u003eBuyers can unbundle services in negotiations to push down headline prices, so service SLAs and measurable KPIs become critical levers in multi-year contracts to protect margins.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eApplication support: enhances switching costs\u003c\/li\u003e\n\u003cli\u003eDosing optimization: drives customer ROI\u003c\/li\u003e\n\u003cli\u003eCo-development: creates proprietary solutions\u003c\/li\u003e\n\u003cli\u003eSLAs: used to lock value in long-term contracts\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eExposure to cyclical end-markets\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eExposure to cyclical end-markets means customers intensify price negotiations and destock in downturns, increasing buyer leverage, while in upcycles longer lead times and allocations reduce that power; contract indexation mitigates swings and shifting product mix toward less cyclical niches lowers sensitivity to buyer pressure.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eDownturns: stronger price pressure\u003c\/li\u003e\n\u003cli\u003eUpcycles: lead-time\/allocations limit leverage\u003c\/li\u003e\n\u003cli\u003eIndex-linked contracts: stabilize margins\u003c\/li\u003e\n\u003cli\u003eMix shift: reduces cyclical exposure\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eConsolidated global buyers squeeze prices; high qualification costs and services sustain margins\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLarge multinational buyers (P\u0026amp;G \u0026gt;80bn USD; Unilever \u0026gt;50bn EUR) consolidate volumes and compress prices via global tenders. High qualification costs and Clariant’s technical services raise switching costs and support margins. Sustainability compliance and Clariant group sales CHF 3.6bn (2023) reduce buyer leverage. Cyclical end-markets increase price pressure in downturns.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eEntity\u003c\/th\u003e\n\u003cth\u003eScale\u003c\/th\u003e\n\u003cth\u003eImpact\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eP\u0026amp;G\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;80bn USD\u003c\/td\u003e\n\u003ctd\u003eHigh negotiating power\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eUnilever\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;50bn EUR\u003c\/td\u003e\n\u003ctd\u003eBundled procurement\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRefiners\u003c\/td\u003e\n\u003ctd\u003e~100m bpd\u003c\/td\u003e\n\u003ctd\u003eCentralized tenders\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eClariant\u003c\/td\u003e\n\u003ctd\u003eCHF 3.6bn (2023)\u003c\/td\u003e\n\u003ctd\u003eSustainability + services\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003ePreview the Actual Deliverable\u003c\/span\u003e\u003cbr\u003eClariant AG - Textile Chemicals, Paper Specialties, and Emulsions Businesses Porter's Five Forces Analysis\u003c\/h2\u003e\n\u003cp\u003eThis preview shows the exact document you'll receive immediately after purchase—no surprises, no placeholders. Clariant’s Textile Chemicals, Paper Specialties and Emulsions businesses face intense rivalry and moderate buyer power driven by volume buyers and specification demands. Supplier power is moderate owing to specialty raw materials, while threats of substitutes and new entrants are limited by technical barriers, regulation and formulation IP. Overall the sectors are competitive but defensible through innovation, scale and customer relationships.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"PortersFiveForce","offers":[{"title":"Default Title","offer_id":55676064235897,"sku":"clariant-five-forces-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0914\/5276\/8633\/files\/clariant-five-forces-analysis.png?v=1755814924","url":"https:\/\/portersfiveforce.com\/products\/clariant-five-forces-analysis","provider":"Porter's Five Forces","version":"1.0","type":"link"}