Increasing Production Driving New Equipment & Product Spending
Optimism continues to abound as processing professionals plan their purchasing of equipment into next year. According to a recent survey of several thousand past Chem Show attendees, 77 percent of those that responded said they expect their companies’ production to increase or remain at current levels through 2014. Only ten percent predicted there would be a decrease in production.
On a similarly positive note for 2014, two thirds (63%) of respondents planned to increase capital spending or keep it at similar levels to this year. Furthering this growth trend, nearly half said they have a current project or need and are looking for new suppliers with products and solutions to help them meet the demand.
These results are consistent with a recent survey of Chem Show exhibitors where more than two thirds of the respondents (67%) said they anticipate industry conditions will improve in 2014. Not surprising, 64 percent of exhibitors said they plan to unveil new products at the industry’s leading event in December.
"The results of these two surveys clearly indicate that the 2013 Chem Show is the place to be to buy and sell products to meet the demand," said Clay Stevens, President of International Exhibition Company (IEC). "With over 300 exhibitors showcasing a wide range of process equipment and systems, plant and maintenance solutions, engineers and other process professionals will have a unique opportunity to learn about the latest products first-hand.”
The 2013 Chem Show, the 55th biennial edition of North America’s largest process equipment and technology event, will take place this December 10th – 12th at the Javits Convention Center in New York City.
Source: International Exposition Co.