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This year, the value of projects anticipated to begin construction in the United States and Canada totals $21 billion, up from $11 billion in 2023.
May 6, 2024
Trey Hamblet, Industrial Info Resources (IIR) vice president of research for chemical processing and refining, expects to see an increase in North American chemical processing project spending this year, especially after a less-than-anticipated spend in 2023.
By the time this article is published, the industry will be midway through the second quarter of 2024, with the oil markets being buffeted by worries about supply shortages and escalating geopolitical tensions.