Based on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Biggest Exporting Industries in the US in 2021
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View a list of the Top 25 biggest exporting industriesExports for 2021: $88.4B
The Petroleum Refining industry has experienced volatile conditions over the five years to 2021. Crude oil is the primary input cost for refiners, and due to its sensitivity to microeconomic and macroeconomic factors, such as supply and demand and the health of economies domestic and overseas, crude oil is a highly volatile commodity. The US oil and gas production index has increased at an annualized rate of 2.4% over the five years to 2021, contributing to the world price of crude oil only increasing an annualized 0.9% during the same period. Industry revenue is estimated to increase at an annualized... Learn More
Exports for 2021: $85.5B
Over the five years to 2020, the Oil Drilling and Gas Extraction industry has demonstrated an extremely high level of revenue volatility on account of fluctuating commodity prices and unstable energy markets. At the outset of the period, world crude and natural gas prices fell an estimated 47.2% and 34.4%, respectively, as US products flooded global markets. Though prices moderately recovered midway through the period as markets stabilized, recent global business and social restrictions aimed to curb the spread of COVID-19 (coronavirus) have resulted in sinking energy demand and an amassing global energy stockpile. Over the five years to 2020,... Learn More
Exports for 2021: $63.2B
The Aircraft, Engine and Parts Manufacturing industry develops and manufactures planes, rotorcraft, engines and related components for the civil and defense markets. After years of growth, the industry's revenue has recently slowed. The majority of this reversal was due to slowing defense spending, which reduced US demand for military aircraft and related components. Additionally, amid the COVID-19 (coronavirus) pandemic, industry revenue is expected to significantly decline as demand for air travel drastically shrinks. Therefore, industry revenue is expected to decline at an annualized rate of 5.8% to $169.4 billion over the five years to 2020, including a 31.9% decline in... Learn More
Exports for 2021: $43.2B
Over the five years to 2021, the Brand Name Pharmaceutical Manufacturing industry has experienced several new drug launches, with nearly 50 new active substances launched in 2019 alone. According to research by Informa PLC, the number of new drug launches in 2019 was more than double the number launched in 2016, with many new drug launches focusing on rare diseases and oncology. Given increasing price scrutiny, competition from generics, intensifying market competition among brand-name producers and rising research and development (R&D) expenses, many manufacturers have shifted their strategic focus to more lucrative therapy areas, such as rare diseases and oncology.... Learn More
Exports for 2021: $36.6B
The Organic Chemical Manufacturing industry produces basic organic chemicals, ethyl alcohol and other intermediates used as key feedstock in downstream industries, such as plastic, paint and adhesive manufacturing. Over the five years to 2020, industry revenue is estimated to decline at an annualized rate of 7.7% to $85.8 billion. Unfortunate global macroeconomic circumstances due to the ongoing COVID-19 (coronavirus) have adversely affected downstream construction and manufacturing industries. Accordingly, IBISWorld expects industry revenue to fall 26.8% in 2020 alone. Although domestic operators benefited from improving US industrial activity for most of the current period, unfavorable industrial activity in emerging economies and... Learn More
Exports for 2021: $34.3B
The Plastic and Resin Manufacturing industry has experienced volatile revenue and demand for its products over the five years to 2020. This industry, which relies on demand from downstream manufacturers and the construction sector, has struggled from decreased construction and manufacturing activity. Furthermore, low product prices have negatively affected revenue. Consequently, revenue is expected to fall at an annualized rate of 7.1% to $69.4 billion during the period. In 2020 in particular, industry revenue is expected to decline 25.7% due in part to an expected 13.6% decline in the value of construction in the same year. The ongoing COVID-19 (coronavirus)... Learn More
Exports for 2021: $32.8B
The Car and Automobile Manufacturing industry has had a bumpy road over the five years to 2020. During much of the period, improvements to the economy have helped the auto sector overall. However, declining prices for fuel and crude oil over the past decade have helped bolster demand for light trucks and sport utility vehicles at the expense of compact cars and sedans. Furthermore, automakers' response to changing consumer preferences has been to shift production away from industry-relevant vehicles. In 2017, Fiat Chrysler Automobiles NV halted production of cars and sedans in the United States. In 2018, General Motors Company... Learn More
Exports for 2021: $32.5B
Operators in the Natural Gas Liquid Processing industry process raw natural gas by separating out a group of hydrocarbons often called natural gas liquids (NGLs). The industry then supplies these NGLs (mostly ethane, propane, butane, isobutane, pentane plus and natural gasoline) to pipelines for further transportation or directly to wholesalers or end users. Since NGLs are a naturally occurring component of natural gas, NGL production proportionally grows in line with natural gas extraction and processing.
The shale gas boom over the 10 years to 2021, whereby natural gas producers developed methods of extracting natural gas trapped in shale rock formations, has... Learn More
Exports for 2021: $28.7B
Semiconductors are a core component of electronics and a vital input of products ranging from devices and systems (e.g. computers, cell phones and TVs) to solutions and services (e.g. internet providers, telecommunications and broadcasting services). 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), the industry indirectly provides jobs to over 250,000 Americans. The industry's products are a major input for other technologies, leading to diversified demand from many markets. The use of semiconductors in various emerging technologies, such as artificial intelligence and Internet... Learn More
Exports for 2021: $25.6B
The Nonferrous Metal Refining industry is highly globalized and closely linked to activity in the construction and manufacturing sectors, which are the major markets for industry products. Both of these downstream markets encountered mixed growth conditions over most of the five years to 2021. Fluctuations in the price of copper and other nonferrous metals often reflect cyclical changes in both domestic and global demand. In addition to shipping refined metal products overseas, industry operators also provide refining services to international clients on a fee basis, known as toll processing. Despite volatile prices and demand from downstream markets, industry revenue is... Learn More
Based on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Biggest Industries by Employment in the US in 2021
VIEW ARTICLEBased on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Biggest Industries By Revenue in the US in 2021
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