Based on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Industries with the Biggest Decline in Exports in the UK in 2024
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View a list of the Top 25 industries with the biggest decline in exportsDecline in Exports for 2024: -44.4%
Over the five years through 2022-23, the Fertiliser and Nitrogen Compound Manufacturing industry's revenue is set to swell at a compound annual rate of 10.6% to £2.7 billion. The Russian invasion of Ukraine has inflated natural gas prices, a key feedstock in fertiliser production, significantly disrupting operations. High fertiliser prices have forced farmers to adapt by increasing their spreading efficiency, reducing the amount of fertiliser farmers need. Even though output has been slashed, high fertiliser prices have still boosted industry revenue.
Despite soaring natural gas prices eating into profit, manufacturers have begun optimising output to reduce costs, meet lower demand and... Learn More
Decline in Exports for 2024: -30.7%
Over the five years through 2022-23, hard coal mining revenue is forecast to fall at a compound annual rate of 26.2%. Before COVID-19 hit, coal prices were inching downwards as demand for coal from electricity generators fell. The drop in sales and revenue has contributed to a sharp drop in the number of UK coal mines in the UK, with numerous mining licences expiring.
The COVID-19 outbreak accelerated the closure of coal mines in the UK; however, as the pandemic started to wind down, coal prices rose in response to supply chain disruptions. Russia's invasion of Ukraine has also played a... Learn More
Decline in Exports for 2024: -25.1%
The Scrap Metal Recycling industry is mainly swayed by prices of ferrous and non-ferrous metals. Trends in the downstream manufacturing and construction markets also determine demand. Industry revenue has dipped at a projected compound annual rate of 1.6% to £6.2 billion over the five years through 2022-23.
Metal prices fluctuate a lot, meaning revenue is very volatile. Higher global metal prices allow recyclers to sell their scrap metal at higher prices, boosting revenue. However, both manufacturing and construction output tumbled in 2020-21 amid COVID-19 restrictions, reducing industry demand in the process.
The recovery of metal manufacturing and construction activity and soaring metal... Learn More
Decline in Exports for 2024: -15.6%
Industrial gas manufacturing revenue is set to has contracted at a compound annual rate of 1.6% over the five years through 2023-24. Manufacturers suffered from soaring costs for natural gas in 2022, although some of the hike in costs was passed on customers through higher prices. Before this, the COVID-19 pandemic brought about significant disruption to the numerous downstream industries that rely on industrial gases, like food and beverage or steel product manufacturers, cutting demand and limiting sales in 2020-21.
Growing environmental concerns have allowed industrial gas manufacturers to market their gases and mixtures as greener alternatives to traditional polluting chemicals.... Learn More
Decline in Exports for 2024: -13.8%
The Whisky Production industry is dominated by the production of Scotch single malt and Scotch blended whisky. Scotch whisky can only be produced in Scotland according to strict regulatory standards, which restricts the supply of Scotch whisky and increases premiumisation. growing popularity of whisky has enticed a number of new distillers into the market recently, making the industry more fragmented, though the largest distillers – notably Diageo and Chivas Brothers – still hold big shares of the market,
Over the five years through 2023-24, industry revenue is expected to grow at a compound annual rate of 2.3% to £4.9 billion, including... Learn More
Decline in Exports for 2024: -10.7%
Seafood processors' revenue is projected to climb at a compound annual rate of 0.5% to £3.8 billion over the five years through 2023-24, including growth of 3.6% in 2023-24, when the average profit margin will be 3.3%. The COVID-19 pandemic punctured revenue in 2020-21 due to the closure of restaurants. Domestic demand conditions have been bleak, as the rising cost-of-living increased inflationary pressures and higher selling prices made seafood products less affordable. Despite this, increasing awareness of the health benefits of consuming seafood pushed back against severe market pressures. Fish catch volumes have declined because of rising costs for fishermen... Learn More
Decline in Exports for 2024: -10.2%
Smart meter manufacturers were supported by government initiatives to roll out smart meters nationwide, boosting demand and accounting for the considerable industry revenue in 2018-19. However, the pandemic caused significant disruptions to the need for smart meters, as restrictions slowed smart meter installations in new and existing houses. The disruption of smart meter installations means that over the five years through 2022-23, revenue is forecast to drop at a compound annual rate of 5.4% to £1.4 billion.
An extension for the Smart Metering Implementation Programme till 2024 and a strong recovery in construction activity in the UK have accounted for... Learn More
Decline in Exports for 2024: -9.3%
Over the five years through 2022-23, revenue is expected to grow at a compound annual rate of 5.7%. The oversupply of cheap steel on the global market has threatened revenue but also lowered costs. A strong recovery in the construction sector has driven the growth in steel processing following the COVID-19 outbreak. Steel product manufacturers struggled with foreign steel import quotas and while there are no longer tariffs on UK steel exported to the US, EU restrictions have been damaging.
The Russian invasion of Ukraine means energy bills have skyrocketed, which increased not only operational costs but also the cost of... Learn More
Decline in Exports for 2024: -9.0%
Flat glass is integral to the construction of buildings and vehicles and is also an important input for some appliances and furnishings. The manufacture of flat glass in the UK is dominated by three global companies: Pilkington, Saint-Gobain Glass and Guardian Industries. The financial power of these companies and the substantial investment required to set up flat glass manufacturing operations make it difficult for new manufacturers to enter the industry. The volume of glass produced domestically has declined, as multinational owners of UK flat glass producers have shifted more operations overseas.
Revenue is expected to decline at a compound annual rate... Learn More
Decline in Exports for 2024: -9.0%
The internet has become an essential part of everyday life, with consumers spending hours a day online and businesses using it to provide and promote services and products. As a result, businesses are spending heavily on digital advertising to reach and engage with consumers, replacing traditional channels (like TV and print). Soaring digital ad spend is contributing to a surge in demand for SEO and internet marketing consultants, which advise businesses on how to enhance their online presence, generate more online traffic and ultimately boost sales. Industry revenue is expected to swell at a compound annual rate of 11.2% over... Learn More
Based on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Biggest Industries by Employment in the UK in 2024
VIEW ARTICLEBased on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Biggest Industries By Revenue in the UK in 2024
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