Research spending continues on an upward trajectory

For the second year in a row, chemical companies ratcheted up investments devoted to novel products and process experimentation L ast year was another good one for chemical firms’ corporate research budgets. Spending levels rose, and at a faster rate than they did in 2017. A strong global economy in 2017 encouraged managers to spend more liberally on research in 2018. At least for the first half of the year, economic activity—along with demand for chemicals—hummed along. Only toward the middle of 2018 did threats to global tradeappear. The US and China imposed a series of tit-for-tat tariffs on each other. The pending British exit from the European Union, known as Brexit, sent a shudder up the European business community’s spine as it contemplated duties and customs slowdowns.