Based on the expert analysis and our database of 70+ Global industries, IBISWorld presents a list of the Fastest Growing Industries by Exports Global in 2024
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View a list of the Top 25 fastest growing industries by exportsGrowth in Exports for 2024: 9.6%
Explosive growth in biotechnology in recent years can't be understated. What's fueling this rapid growth varies, as biotech's applications range from healthcare and agriculture to energy. COVID-19 brought more attention to biotechnology, as biotech companies were central to vaccine development and reopening the economy. Biotech's potential to develop vaccines shifted the industry's trajectory, with investment reaching unprecedented levels globally and spurring more start-up activity than ever. Sky-high investment began settling in 2022, as higher interest rates moved risk-averse investors away from early-stage companies into established companies with a higher likelihood of return. Investor uncertainty continued into 2023, with high interest... Learn More
Growth in Exports for 2024: 8.2%
The digitization of the global economy and expanding internet usage have reduced demand for newsprint and other traditional paper products, curbing growth for the Global Paper and Pulp Mills industry over the past five years. Still, mills have benefited from expanding developing economies in Asia and South America. Over the past five years, consumer spending and online retail growth have supported demand for packaging paper, offsetting declines from traditional paper segments. Revenue has stagnated over the past five years, staying at an estimated $492.1 billion in 2023. Inflationary pressures will push revenue down by an estimated 2.2% in 2023 alone.
While... Learn More
Growth in Exports for 2024: 7.2%
Coal mined by global coal mining companies plays a vital role in the world's ability to generate electricity and manufacture steel. Coal's position in global electricity markets stems from its relative accessibility, affordability and distribution across the globe. The world's largest coal producers are China, the United States and India, with these countries expected to retain their positions for the foreseeable future. Global coal mining revenue is a function of global production of coal mined products alongside global coal prices, with prices being closely tied to global economic conditions. Over the five years to 2023, prices of thermal and coking... Learn More
Growth in Exports for 2024: 4.6%
The Global Plastic Product and Packaging Manufacturing industry has experienced mixed results over the five years to 2023. It has benefited from increasing plastic consumption worldwide, as rising capacity worldwide has resulted in solid growth in overall plastic production. Plastic goods are substituted for materials like wood, paper, metals, and glass, which are often more price competitive while offering better performance. Because of rising consumption and production during most of the current period, industry revenue has been expanding an annualized 2.3%, and is expected to reach $699.3 billion in 2023. This increase in revenue was decelerated by a dramatic drop... Learn More
Growth in Exports for 2024: 4.3%
Revenue for the Global Auto Parts and Accessories Manufacturing industry has decreased at a CAGR of 6.3% over the past five years – including stagnating in 2023 alone – and is expected to total $1.9 trillion in 2023, when profit is set to drop to 5.3%. The auto parts aftermarket has helped generate revenue as average vehicle ages have increased. Demand for this segment tends to rise with the number of vehicles in use, and therefore, as more individuals take to the roads, demand for replacement parts increases.
The problems with the global supply chain due to COVID-19 deeply affected industry... Learn More
Growth in Exports for 2024: 4.2%
The Global Military Shipbuilding and Submarines industry has continued to expand amid rising geopolitical tensions. The US, other Western governments and Asian countries continue to be the largest markets for military shipbuilders. Despite the pandemic's effects, revenue has remained steady, as contracts were already placed beforehand.
The United States, the largest market for the industry, has increased spending on shipbuilding and conversion as it has sought to maintain its ability to project power abroad, protect trade lanes and defend allies. Meanwhile, some of the biggest surges in naval expenditures have come from developing nations (China, Russia, India and East Asian countries).... Learn More
Growth in Exports for 2024: 4.2%
Products produced by the Global Respiratory Ventilator Manufacturing industry have long been a staple of the global healthcare sector. Demand for ventilators has historically been stable since they are a life-saving device for patients with limited breathing function. While hospitals do not usually need a significant number of ventilators, the COVID-19 (coronavirus) pandemic caused demand for ventilators to skyrocket in 2020. Patients with severe coronavirus symptoms often need to be ventilated because their lungs become so inflamed that they are unable to provide the body with enough oxygen. While ventilation is not always successful, early in the pandemic, it was... Learn More
Growth in Exports for 2024: 4.1%
Global cosmetic manufacturers faced troubles during the period. This industry provides a wide array of products; a good deal of these products are non-discretionary, which partly shielded manufacturers from major disruptions seen in 2020 during COVID-19. However, product lines like fragrances, parts of skincare and makeup are fully discretionary. As the disruptions ran their course, consumers spent less and remained at home to stop the spread of the virus. Because of this, demand for discretionary products plummeted, leaving a huge glut in demand within the market. In more recent years, a return of consumer spending and disposable income has led... Learn More
Growth in Exports for 2024: 3.8%
The Global Commercial Aircraft Manufacturing industry is responsible for manufacturing, rebuilding, and servicing aircraft for the commercial market. Included in commercial aircraft are planes, helicopters, aircraft engines and various aircraft components and subsystems for the commercial market. COVID-19 was the biggest roadblock for operators during the period, leading to a drop in sales, tough supply chain conditions, and a lack of demand. Still, a partial recovery was achieved during the years following due to economic upturn and global efforts to control the virus. As a result, the Global Commercial Aircraft Manufacturing industry's revenue is set to fall an annualized CAGR... Learn More
Growth in Exports for 2024: 3.7%
Over the five years to 2023, the industry has benefited from growth in global consumer spending and world GDP. Growing consumer spending led to expanding downstream markets, including manufacturing, retail and wholesale businesses. In addition, rising demand from emerging markets, such as China and India, has boosted demand for cardboard containers. But strong fluctuations in the world price of wood pulp have hampered revenue growth in specific years. However, supply chain disruptions during and following the COVID-19 pandemic caused prices to increase and revenue to surge. Altogether, industry revenue is expected to grow at a CAGR of 7.2% to $458.3... Learn More
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