SOURCE: Industrial Info Resources

November 20, 2009 05:15 ET

Chemical Processing Spending Projected to Increase in 2010, an Industrial Info News Alert

BATON ROUGE, LA--(Marketwire - November 20, 2009) - Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- The U.S. Chemical Processing Industry (CPI) is projected to increase spending for capital projects and maintenance turnarounds in 2010, according to Trey Hamblet, Industrial Info's vice president of research for the Chemical Processing Industry. "This year has been incredibly difficult, but I believe the stage is set for a recovery in 2010," Hamblet said. "The Chemical Processing Industry is expected to benefit from a recovery in consumer demand and expansion of global trade. Although measurable improvements may be slow in coming, we are seeing an increase in plant operating rates and a gradual rebuild of inventories. The current outlook for the CPI is that spending will be restored to a healthy level by late 2010." By segment, petrochemicals, specialty chemicals, and industrial gases are projected to garner the largest percentages of U.S. capital spending, according to Hamblet.

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