SUGAR LAND, TX--(Marketwired - Dec 27, 2016) - Researched by Industrial Info Resources (Sugar Land, Texas) -- According to Industrial Info's 2017 Global Industrial Outlook, project spending in the Metals & Minerals Industry has been in decline since 2012, as companies have pushed out larger grassroot projects and focused on optimization and cost-cutting efforts. Construction activity in the U.S. and Canada declined by 19% in 2016, compared to 2015, with the year prior having a 50% decline.
Construction activity in the U.S. and Canada declined by 19% in 2016, compared to 2015, with the year 2014 having a 50% decline. Among the sectors most affected has been the coal sector as demand wanes, particularly from the Power Industry as natural gas continues to become a more prominent fuel. Many coal companies have filed for bankruptcy, and at this point, more than half of all U.S. coal is being produced by bankrupt companies.
The U.S. steel industry also continues to suffer because of global oversupply and the flood of inexpensive subsidized imports coming from countries including China. In the U.S. and Canada, steel remains the largest sector after mining, with $17 billion in projects planned, but capex activity has slowed.
The cement sector remains a positive, if smaller sector than mining and steel. The U.S. has about $2 billion worth of active cement plant projects. There are a handful of expansion and modernization projects, as the market has improved over the past two years. According to a report from the Portland Cement Association, cement consumption in the U.S. will grow at a rate of 4.3% in 2017.
To learn more about to what to expect in the Metals & Minerals Industry, as well as 11 other industries tracked by Industrial Info, check out our 2017 Global Industrial Outlook. Write-ups from our industry experts provide information on both North American and international sectors, as well as top-line economic forecasts for different world regions. Quarterly updated project spending statistics are broken down by industry, market region and budget type (capital or maintenance). Detailed assessments from Industrial Info's industry experts help explain how the data and information reflect broader industrial trends.
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