Chemicals
Despite lower earnings last year for US, European and Asian chemical companies, R&D spending increased and capital spending was mixed. Total aggregated capital spending in 2008 among the 21 US chemical firms tracked by Chemical & Engineering News increased 18.6% to $10,782 million. Last year, R&D spending for these 21 chemical companies increased 6.0% to a total of $5,703 million. For European chemical firms, the growth was not as strong, but total spending amounts surpassed US firms. Capital spending by 19 European chemical firms rose 17.6% in 2008 to $19,988 million. R&D expenditures last year by the same firms increased 5.4% to $12,734 million. R&D spending by 12 Japanese chemical companies also expanded, increasing 8.7% to $5,443 million in 2008. However, capital spending for these same firms declined 13.4% to $9,926 million.
Source: Chemical & Engineering News