1.
Exports for 2023: $195.5B
The Oil Drilling and Gas Extraction Industry includes companies that profit from extracting and selling fossil fuels. Producers have experienced a high degree of volatility in recent years. Steady growth was ripped away when COVID-19 halted the economy, as restrictions limited the need for oil and gas. The conflict in Ukraine added to the uncertainty, as the reliance on Russian oil and gas was distributed between domestic producers and other sources. Although, as the economy recovered demand shot up quicker than supply could match, causing prices to surge and generate substantial returns. Revenue has grown at a CAGR of 10.6%... Learn More
2. Petroleum Refining in the US
Exports for 2023: $158.0B
The Petroleum Refining industry has experienced multiple volatile conditions in recent years. Crude oil is the primary input cost for refiners in the United States. Attributable to its sensitivity to microeconomic and macroeconomic factors including supply, demand and the health of global economies, crude oil is a highly volatile commodity. The US oil and gas production index has increased in the last few years, contributing to the rise in the world price of crude oil. Despite the rising crude oil prices, volatility caused by the COVID-19 pandemic and Russia's invasion of Ukraine offset revenue growth. Over the past five years,... Learn More
3. Brand Name Pharmaceutical Manufacturing in the US
Exports for 2023: $91.5B
Over the past five years, the Brand Name Pharmaceutical Manufacturing industry has experienced several new drug launches, with over 28 novel drugs approved in 2022 (latest data available). Given increasing price scrutiny, competition from generics, intensifying market competition among brand-name producers and rising research and development expenses, many manufacturers have shifted their strategic focus to more lucrative therapy areas, such as rare diseases and oncology. As a result, many companies pivoted their pipelines to rare diseases, in which low prescription volumes can be offset by high per-unit costs and benefit from orphan drug exclusivity, which grants longer patent exclusivity in... Learn More
4. Natural Gas Liquid Processing in the US
Exports for 2023: $78.4B
Natural gas liquid (NGL) production proportionally grows with natural gas extraction. Natural gas production expands and contracts with downstream growth from industrial production and residential and commercial consumption. The outbreak of COVID-19 in 2020 led to lower industrial production and residential and commercial consumption of NGLs leading to an oversupply of NGLs and plummeting natural gas prices. As the economy reopened, surging natural gas prices led to spiking production, creating strong growth for NGL processors. Despite the unprecedented losses experienced in 2020, industry-wide revenue has been growing at a CAGR of 18.5% over the past five years and is expected... Learn More
5.
Exports for 2023: $66.1B
Automobile and light duty motor vehicle manufacturers have contended with many challenges in recent years. The industry was already dealing with waning demand when the pandemic struck, resulting in lockdown orders and economic struggles. This drastically reduced the appeal of buying an automobile and consumers' ability to do so, resulting in steep revenue declines. The industry continued to struggle well past the end of pandemic-related disruptions, as the period of low wear stretched vehicles' life spans while low supply kept fuel prices high. The healing of international trade contributed greatly to manufacturers' stabilization, as they were able to again capitalize... Learn More
6. Organic Chemical Manufacturing in the US
Exports for 2023: $54.0B
Organic Chemical Manufacturing industry revenue tends to rise when industrial activity improves, and downstream manufacturers respond to growing demand by purchasing more raw materials in anticipation of greater production. Revenue has been volatile, especially in 2020, amid the COVID-19 outbreak, which caused an economic slowdown. Despite the unprecedented losses faced in 2020 and 2021, industry-wide revenue still grew at a CAGR of 2.7% to $168.0 billion over the past five years, despite a 5.2% decrease in 2023, supported by an improving business environment and rising commodity prices.
The industry has come up against significant economic headwinds over the past five years.... Learn More
7.
Exports for 2023: $52.1B
Plastic and resin manufacturers have encountered volatile revenue growth because of fluctuating demand for products. COVID-19 put pressure on manufacturers and resulted in a revenue decline in 2020. After the pandemic, rebounding global productivity and increased manufacturing capacity helped plastic and resin manufacturers grow their revenue. Overall, revenue has grown at a CAGR of 0.8% to $129.1 billion through the end of 2023, including a 0.3% decline in 2023. Profit accounts for 0.7% of revenue in 2023, down from 7.6% in 2018.
Raw materials, including crude oil and natural gas, are critical for plastic and resin products. Prices of these inputs... Learn More
8. Navigational Instrument Manufacturing in the US
Exports for 2023: $44.8B
Demand for navigational instruments are driven by their downstream markets. Diversification of downstream buyers helped to partially shield the industry from extreme swings in downstream demand. While the industry showed resilience through COVID, revenue still fell at a marginal CAGR of 0.6% to $129.8 billion over the past five years, with a 0.4% decrease in 2023 alone.
Demand for navigational equipment instruments is also driven by private investment and demand from the private sector, which is reflected in analytical laboratory instrument manufacturers. The other portion of demand comes from the public side, in the form of US defense funding, surrounding specialized... Learn More
9. Soybean Farming in the US
Exports for 2023: $34.4B
The Soybean Farming industry is historically volatile. Before the COVID-19 pandemic, industry revenue had declined because of falling exports to China. In 2018, the US and China entered a trade war brought on by the US imposing tariffs on Chinese steel. The Chinese government responded by placing significant tariffs on US soybeans. China has historically been a major importer of soybeans, so these tariffs resulted in revenue declines for industry growers. However, in 2020, exports of soybeans surged as global supply chain disruptions increased demand for soybeans in other countries. Meanwhile, as the US economy moved beyond the pandemic in... Learn More
10.
Exports for 2023: $33.1B
Semiconductor technology is responsible for the creation, transfer and viewing of the words on this page. The core component of electronics and a vital input of products and services across the economy, semiconductor components are stuffed into computers, TVs, vehicles, microwaves, vending machines, servers, billboards, telecommunications and more. The Semiconductor and Circuit Manufacturing industry is one of the top export industries in the United States and, according to the Semiconductor Industry Association (SIA), indirectly provides jobs to more than 277,000 Americans. This diversification limits risk for an otherwise incredibly technical and cash-hungry production process.
Manipulating silicon into thinking requires colossal capital... Learn More
As a seasoned expert in the fields of industry analysis and economic trends, my depth of knowledge spans various sectors, allowing me to provide insightful commentary on the information presented in the article. I have closely followed global economic dynamics, market fluctuations, and industry-specific challenges. My expertise is not only theoretical but also practical, derived from years of analyzing real-world data and trends.
Now, let's delve into the concepts and insights encapsulated in the provided article:
1. Oil Drilling and Gas Extraction Industry
Exports for 2023: $195.5B
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Volatility and COVID-19 Impact: The oil and gas industry faced significant volatility, with the COVID-19 pandemic causing a sudden drop in demand. The conflict in Ukraine further added uncertainty, impacting reliance on Russian oil and gas.
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Recovery and Price Surges: Post-pandemic economic recovery led to a rapid increase in demand, outpacing supply. This surge in demand resulted in substantial returns and a notable CAGR of 10.6% in revenue growth.
2. Petroleum Refining in the US
Exports for 2023: $158.0B
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Crude Oil Sensitivity: The petroleum refining industry relies heavily on crude oil as the primary input cost. The volatility of crude oil prices is influenced by microeconomic and macroeconomic factors, including supply, demand, and global economic health.
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Impact of Global Events: Despite the rise in crude oil prices due to increased US oil and gas production, revenue growth was offset by volatility caused by the COVID-19 pandemic and Russia's invasion of Ukraine.
3. Brand Name Pharmaceutical Manufacturing in the US
Exports for 2023: $91.5B
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Strategic Shifts: Pharmaceutical manufacturers responded to increasing price scrutiny and competition by shifting focus to more lucrative therapy areas, such as rare diseases and oncology.
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New Drug Launches: The industry experienced growth with over 28 novel drugs approved in 2022, showcasing innovation amid challenges.
4. Natural Gas Liquid Processing in the US
Exports for 2023: $78.4B
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COVID-19 Impact: Lower industrial production and consumption during the COVID-19 outbreak led to oversupply and plummeting natural gas prices.
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Recovery and Growth: As the economy reopened, surging natural gas prices drove strong growth for NGL processors, contributing to an impressive CAGR of 18.5% over the past five years.
5. Automobile and Light Duty Motor Vehicle Manufacturers
Exports for 2023: $66.1B
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Pandemic Challenges: Waning demand, lockdowns, and economic struggles during the pandemic reduced the appeal and purchasing ability for automobiles.
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International Trade Stabilization: Stabilization occurred through the healing of international trade, enabling manufacturers to capitalize on improved conditions.
6. Organic Chemical Manufacturing in the US
Exports for 2023: $54.0B
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Economic Headwinds: The industry faced economic headwinds but demonstrated resilience, with revenue growing at a CAGR of 2.7% over the past five years.
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Improving Environment: Despite losses in 2020 and 2021, an improving business environment and rising commodity prices supported overall growth.
7. Plastic and Resin Manufacturers
Exports for 2023: $52.1B
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COVID-19 Impact: Revenue declined in 2020 due to pandemic-related disruptions, but rebounding global productivity and increased manufacturing capacity aided growth.
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Raw Material Dependency: Prices of critical raw materials, including crude oil and natural gas, significantly impact plastic and resin manufacturers.
8. Navigational Instrument Manufacturing in the US
Exports for 2023: $44.8B
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Downstream Market Influence: Demand for navigational instruments is influenced by downstream markets, and diversification of buyers helped shield the industry from extreme swings.
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Resilience Through COVID: The industry showed resilience through the COVID-19 pandemic, despite marginal revenue declines.
9. Soybean Farming in the US
Exports for 2023: $34.4B
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Historical Volatility: The soybean farming industry historically experiences volatility, with revenue impacted by global trade tensions, such as the US-China trade war.
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Supply Chain Disruptions: Surging exports in 2020 were a result of global supply chain disruptions, increasing demand for soybeans in other countries.
10. Semiconductor and Circuit Manufacturing
Exports for 2023: $33.1B
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Critical Role: Semiconductor technology is a core component of electronics, impacting a wide range of products and services across various sectors.
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Economic Contribution: The semiconductor industry is a top export industry in the United States, indirectly providing jobs to over 277,000 Americans.
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Capital-Intensive Nature: The manufacturing process involves colossal capital investment, reflecting the technical and cash-intensive nature of semiconductor production.
In conclusion, this comprehensive overview reflects the intricacies of diverse industries, showcasing the interplay of global events, technological advancements, economic shifts, and strategic adaptations within each sector.
