Top 10 Chemical Industry Spenders for 2010

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Researched by Industrial Info Resources (Sugar Land, Texas)--Every year, there is a small list of companies that generally contribute the most toward the total spending of the Chemical Processing Industry (CPI) in the United States and Canada. This year will be no exception, with the 10 top-spending CPI companies accounting for nearly a third of all the chemical projects planned to kick off during 2010, based on Industrial Info's North American Project Database. These top 10 spenders are planning an estimated $1.9 billion in total capital and maintenance projects for 2010.

This list of companies include Air Liquide S.A. (EPA:AI) (Paris), ForeverGreen Enterprises Incorporated (Ocean, New Jersey), Air Products and Chemicals Incorporated (NYSE:APD), CF Industries Incorporated (NYSE:CF) (Deerfield, Illinois), BASF AF (Ludwigshafen, Germany), NA Industries Incorporated (Chattanooga, Tennessee), Koch Industries Incorporated (Wichita, Kansas), K2 Pure Solutions (Toronto, Ontario), Evonik Industries AG (Saarbrücken, Germany) and The Dow Chemical Company (NYSE:DOW). Air Liquide, with 17 projects valued at more than $296 million, ranks as the biggest CPI spender this year. Air Liquide's single-largest project, which represents a bulk of this spending, is a 120 million-standard-cubic-feet-per-day hydrogen unit addition in Pasadena, Texas, to support regional and pipeline customers.

Despite having only a single project planned for construction this year, ForeverGreen ranks as the second-largest CPI spender this year and expects to begin construction of a grassroot waste-to-hydrogen plant in Butler, Indiana. Plans for this $220 million plant have been ongoing for a couple of years, and it appears likely this could be the year it finally begins. Another company not previously seen or known as a top spender in the CPI is K2 Pure Solutions, which is planning and building two-unit plants in California to produce caustic soda, chlorine and sodium hypochlorite, with an estimated cost between the two projects of $150 million, ranking them as the eighth-largest CPI spender this year.

The recent economic recession that some suspect might still be under way is largely responsible for the significant change in top spenders this year. There is growing optimism that the CPI will begin to experience an increase in operating rates to replenish inventories driven by an increase in demand. Based on the very slow progress the economy is making toward recovery, it could be well into the year before it is determined if others in the industry will challenge these companies for a higher rank.

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Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy related markets. For more than 26 years, Industrial Info has provided plant and project spending opportunity databases, market forecasts, high resolution maps, and daily industry news.