2017 Chem Show Business Outlook Survey Results Indicate Expected Growth Across Chemical Processing Industry
According to a recent Chem Show survey sent to more than 10,000 chemical and other processing manufacturers, equipment suppliers, and design/engineering firms, 2017 is expected to foster significantly elevated business prospects and sales throughout the CPI.
Based on survey results, 82 percent of respondents expect their sales to increase this year, with 69 percent additionally rating the 2017 business climate as either good or excellent.
The five-question survey, distributed at the close of 2016, addressed a variety of parameters by which respondents were asked to measure overall business outlook for 2017.
“By reaching out to those that are directly shaping and changing the CPI at the product and technology innovation level, we mined some very interesting – and encouraging – data on the anticipated growth of the industry at-large this year,” said Clay Stevens, Chem Show manager. “We’re pleased to observe that a majority of respondents from the CPI foresee a healthy business climate, and we look forward to presenting an authentic reflection of this at the upcoming Chem Show this fall.”
2017 CPI Industry/Company Sales Climate
When asked to rate the overall industry business climate for 2017, 98 percent of respondents indicated a positive outlook. Within these responses, 10 percent answered “excellent,” An additional 59 percent responded “good” and 29 percent responded “fair,” with only two percent rating prospects as “poor” for the coming year.
Ninety-seven percent of those surveyed also responded positively regarding their own company’s prospects for business this year, with 76 percent rating them as either excellent or good. Additionally, 82 percent indicated they expect their company’s sales to increase when comparing 2016 to 2017, with 23 percent of these anticipating greater than 10 percent growth, and 38 percent indicating expected growth of between five and 10 percent. Twenty-one percent responded they expect less than 5 percent growth in 2017, while 17 percent anticipate sales to remain the same this year.
Capital Investments/Purchases for 2017
Overall, survey results indicated an increased level of capital investments, particularly in regard to new or upgraded CPI equipment, for 2017. In total, more than half (56 percent) of respondents indicated they plan to invest in new or upgraded equipment for 2017.
Of these, 86 percent indicated that seeing equipment first-hand is important when making purchasing decisions, with 76 percent of respondents also noting the significance of meeting face-to-face with product experts as part of their decision-making process.
“These responses are particularly meaningful to us, as they underscore the importance of our efforts in uniting processing manufacturers and equipment suppliers in person at the Chem Show,” Stevens said. “With 100 over years of rich history in supporting the domestic growth of CPI manufacturing, the Chem Show has grown to become the industry’s premier forum for showcasing the latest equipment and technological advances as well as the industry’s best practices, while providing valuable learning opportunities for all participants.”
With 90-percent consensus, survey respondents additionally indicated that receiving support from suppliers plays a key role in their equipment purchase decision-making process.
“Many of our exhibitors are longstanding participants in the Chem Show, which exemplifies their commitment to being available to their customers and prospects who visit the Show to discuss specific needs and find out what’s new,” shared Stevens. “In an age where the internet fuels a great deal of our everyday communication, it’s important to realize that face-to-face interaction and direct, in-person support are still setting equipment companies apart, and designating them as the CPI’s preferred partners.”
2017 Chem Show Overview
Recognized as the CPI’s largest North American event exclusively focused on the processing of fluids, powders and gases, the biennial Chem Show returns to the Javits Center in New York City this October 31 to November 2 to showcase the newest innovations in chemical process equipment and technology. Every odd-numbered calendar year, Chem Show opens its doors to thousands of engineers, plant managers and other CPI professionals looking for new ways to optimize their process operations.
More than 300 exhibitors representing all facets of the CPI will be seen on the 2017 Chem Show floor, including manufacturers displaying: process equipment; liquid, and gas handling equipment; solids/powder handling equipment; instrumentation and controls; engineering and system design products; pollution control and safety equipment/systems; and plant maintenance products. Exhibits are staffed by knowledgeable product and technology experts able to conduct meaningful face-to-face discussions about their solutions, and address attendees’ current processing goals and challenges.
Additionally, in excess of 5,000 attendees are expected from nearly every U.S. state and more than 60 countries, representing thousands of CPI companies and facilities. These include: chemical and specialty chemical manufacturers; pharmaceutical companies; food processors; cosmetic firms; plastic suppliers; and other manufacturers that mix, heat, cool, filter, measure or dry various materials in their operations. Attendee job profiles range from process engineers, to production staff, to executives from across the CPI.
Dozens of “best-practices” seminars and other topical industry sessions will be offered free to all 2017 Chem Show attendees interested in gleaning knowledge on new and improved ways to meet production and environmental challenges. Building on the success of those offered for the first time in 2015, a wide scope of seminars will be conducted by industry experts with hands-on knowledge and real-world experience in the topics they address.
An Equipment and Technology Showcase, conveniently located on the Show floor, will spotlight exhibiting companies providing educational information on their latest products, systems and technologies. Attendees can receive brief yet informative overviews, in a sales-neutral setting, on the new and exciting innovations being exhibited at the 2017 Chem Show.
Source: International Exposition Co.