Based on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Fastest Declining Industries in the US by Revenue Growth (%) in 2022
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View a list of the Top 25 fastest declining industries2022-2023 Revenue Growth: -35.0%
The Health and Welfare Funds industry provides healthcare coverage and welfare benefits to employees, unions and other professional associations. Industry operators function similarly to pension funds and employee benefit programs, which aim to provide cost-effective medical and welfare coverage on a nonprofit basis for the benefit of members. The five years to 2022 threw many challenges at industry operators. Even before the COVID-19 (coronavirus) pandemic, declining union membership and increasing healthcare premiums prevented stable growth. When the pandemic hit, fund income generation through securities was thrown into chaos; despite investments increasing in value before 2021, operators attempting to stabilize their... Learn More
2022-2023 Revenue Growth: -21.1%
Operators in the Iron and Steel Manufacturing industry manufacture various shapes of steel. Industry operators have endured wide swings in operating difficulty over the five years to 2022 as the world price of steel, a key input for the industry, has fluctuated. Industry revenue and profit follow changes in the world price of steel products, which reflects global supply and demand trends. During the first half of the current period, the price of steel fell, creating an oversupply due to weakened demand for tubular steel from energy-related industries and unfavorable exchange rates for domestic steel producers. Following growth in 2017... Learn More
2022-2023 Revenue Growth: -15.0%
The Scrap Metal Recycling industry collects and processes both ferrous (iron-based) and nonferrous metals. Recycling typically involves sorting, shearing, shredding and torching the metal before selling it to steel mills, foundries and other industrial consumers, which then use it as an input for their products. Metal recycling has become more popular over the past few decades because it offers energy savings and cost benefits when compared with primary production, which requires extracting metals from mined ores. In addition, scrap metal has become more readily available as businesses and consumers discard cars, electronic appliances and other products. Despite these advantages, industry... Learn More
2022-2023 Revenue Growth: -13.7%
The Prefabricated Home Manufacturing industry produces modular and manufactured homes that are low-cost substitutes to conventional, site-built units. The industry caters to first-time homeowners, retirees and low-income consumers. Rising home prices during the period priced more buyers out of the traditional housing market and raised demand for prefabricated homes. Plummeting interest rates amid the COVID-19 (coronavirus) pandemic, as well as the health risks associated with the virus, further boosted demand for industry products as consumers fled congested urban areas and took advantage of the low interest rates. Low interest rates have also increased competition from the conventional housing market, mitigating... Learn More
2022-2023 Revenue Growth: -13.1%
Companies in the Real Estate Appraisal industry primarily provide valuation services, such as residential property appraisals, commercial property appraisals and real estate portfolio valuations, to those active in real estate markets. The industry is primarily dependent on the residential and non-residential markets, making up an estimated 75.9% of industry revenue. Over the five years to 2022, the value of private non-residential construction is expected to decrease at an annualized rate of 3.7%, preventing the industry from growing at a faster rate. In contrast, during the same five year period, the volume of residential appraisals is expected to increase amid improving... Learn More
2022-2023 Revenue Growth: -11.0%
Over the five years to 2021, revenue for the Tunnel Construction industry is expected to grow, largely as a result of surging state and local spending in conjunction with sharp increases in federal funding for transportation in response to the COVID-19 (coronavirus) pandemic. Predominantly, the industry has had a beneficial period, with industry revenue rising in each year of the current period, barring 2016 and a slight dip in 2018. Increases in industry revenue have been driven by an annualized 12.4% increase in federal funding for transportation. Typically, this industry performs well during recessions due to the fact that over... Learn More
2022-2023 Revenue Growth: -10.7%
The Activated Carbon Manufacturing industry has continued to benefit from an intensified focus on environmental policy. Activated carbon is processed with oxygen to create pores between carbon atoms, increasing their surface area. This, in turn, enables activated carbon to absorb contaminants as liquid or gas passes through it. Activated carbon is used primarily for water treatment and air purification. A range of downstream industrial sectors rely on activated carbon for the removal of impurities. According to Cabot Corporation, the chemicals production sector particularly relies on industry products to achieve precise purity standards. As a result, a rise in industrial production... Learn More
2022-2023 Revenue Growth: -10.3%
The Hog and Pig Farming industry, like other livestock industries, has been enduring hard times for many reasons, one of which is the effects of commodity price fluctuations. In particular, industry revenue is determined by the price of feed, which has been highly volatile over the five years to 2022. Feed is the largest input cost for industry operators, so the price of feed is correlated with the price of pork. If the price of pork falls, industry production will likely increase, but total revenue will fall. This phenomenon is best reflected by industry performance in 2021, when the price... Learn More
2022-2023 Revenue Growth: -9.4%
The For-Profit Universities industry includes institutions that offer academic courses at baccalaureate and graduate levels on a for-profit basis. At the beginning of the current five-year period, industry revenue experienced declines as operators experienced negative press for providing less than adequate education to students. However, revenue rebounded after changes to government policy limited student fraud claims. Further, in 2020, the industry is expected to benefit from a surge in the national unemployment rate resulting from the COVID-19 outbreak. The subsequent large decrease in unemployment and higher demand for travel ends the current period on a lower note. Overall, industry revenue... Learn More
2022-2023 Revenue Growth: -8.7%
The Sign and Banner Manufacturing Franchises industry has exhibited a steep decline over the five years to 2022. For most years during the period, the industry's struggles have had little to do with demand for signage. Growth in advertising spending as well as steady investment in commercial construction have boosted demand for signs. These two trends have pushed up US demand for signage over the past five years. However, franchises have had a greatly diminished role in providing industry products. As a result, over the five years to 2022, industry revenue is expected to plummet an annualized rate 14.2% to... Learn More
Based on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Riskiest Industries in the US in 2022
VIEW ARTICLEBased on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Least Risky Industries in the US in 2022
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