Based on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Industries with the Biggest Decline in Exports in the US in 2024
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View a list of the Top 25 industries with the biggest decline in exportsDecline in Exports for 2024: -9.1%
Over the past five years, chicken egg producers have had to contend with severe revenue volatility. While per capita egg consumption has remained stable, a severe drought across most of the United States pushed the price of feed upward. This, combined with lingering challenges from supply chain bottlenecks and highly pathogenic avian influenza (HPAI), have pushed the price of eggs upward. Widespread inflation in 2022 also contributed to surging egg prices, and while the industry benefited from an upswing in revenue that year, price spikes set the stage for plummeting prices in 2023. As a result, industry-wide revenue has dropped... Learn More
Decline in Exports for 2024: -8.1%
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
Decline in Exports for 2024: -7.2%
The Sheet-Metal Roofing Manufacturing industry fabricates roofs made from thin, flat pieces of metal, typically steel or aluminum. Sheet-metal roofs have long been popular for use in garages, industrial buildings and commercial buildings. However, metal roofs are also gaining traction in the residential market because they are highly durable (able to endure several decades with relatively little maintenance), do not burn, can resist damage from severe weather, are environmentally friendly and are easy to install and repair. Due to sustained demand from the construction markets and resilient corporate profit levels, industry revenue is expected to have grown at a CAGR... Learn More
Decline in Exports for 2024: -6.6%
Iron ore miners are highly susceptible to changes in industrial production, which is why COVID-19 wreaked havoc on this industry. Severe iron ore and steel price volatility has significantly impacted iron ore miners. Overall, industry-wide revenue has been falling at a CAGR of 1.6% over the past five years and is expected to total $5.1 billion in 2023, when revenue will plummet by an estimated 13.3%.
Iron ore miners' output has remained stable in recent years, excluding 2020, when mines and steelmakers halted production. Iron ore miners have faced severe price-based volatility over the past five years. Following mine closures in... Learn More
Decline in Exports for 2024: -6.1%
Coal miners faced a highly volatile operating environment over the past five years. Wildly fluctuating commodity prices, declining mine output and the gradual transition toward cleaner and less-expensive energy alternatives have constrained domestic coal demand. Also, coal mining companies suffered from severe economic and supply chain disruptions that emerged following the outbreak of COVID-19 in 2020. Despite lower output, surging coal prices enabled coal miners to rebound in the latter half of the period. Canadian coal mining revenue has been increasing at an annualized 11.3% over the past five years, including an estimated 32.3% decrease in 2023, and is expected... Learn More
Decline in Exports for 2024: -6.0%
Printing services have declined markedly over the past few years as demand for print media has fallen. The industry provides prepress work such as typesetting, trade binding, mounting and print-plate creation. Demand for printing services is highly correlated with the performance of the Printing industry (IBISWorld report 32311) and demand for book, newspaper and magazine publishing, both of which faced similar periods of decline. This contraction occurred due to the fast-growing popularity of online media, causing many companies to reduce print advertising expenditures. These factors were exacerbated by the outbreak of COVID-19 in 2020. Over the past five years, printing... Learn More
Decline in Exports for 2024: -5.7%
The industry relies heavily on its performance in the international markets, since an overwhelming amount of downstream demand comes from exports. An appreciation of the US dollar during the current period has certainly depressed growth. As COVID loomed and US businesses closed, consumers were forced inside for the better part of a year. Further decreases in revenue were offset by consumers purchasing from the industry for personal entertainment purposes. Revenue ultimately increased at a CAGR of 0.6% to $14.3 billion over the five years to 2023, with an increase of 1.8% in 2023 alone as profit reached 4.3%.
Demand for computer... Learn More
Decline in Exports for 2024: -5.5%
The Tank and Armored Vehicle Manufacturing industry have benefited from rising geopolitical tensions after taking a direct hit from plummeting demand before the period. Companies research, develop, manufacture, modify and repair military armored vehicles, self-propelled artillery and tanks. As the United States began to scale down combat operations in the Middle East, the defense budget was reduced, sequestration kicked in, and spending on industry products plunged. Rising geopolitical tensions have caused a surge of US defense contracts with manufacturers for industry-relevant vehicles. Industry revenue has been growing at an annualized 6.3% over the past five years and is expected to... Learn More
Decline in Exports for 2024: -5.0%
Valve manufacturers produce plumbing fixture fittings and other general-purpose valves, primarily used in construction, manufacturing and energy markets. Oil and natural gas extractors, which use highly specialized valves with better resistance to extreme conditions, have sharply influenced valve manufacturer revenue and have experienced pronounced volatile swings in prices. Revenue was additionally altered by supply chain issues and lowered demand brought upon by the pandemic. The industry has since undergone a resurgence in unison with improving macroeconomic conditions, delayed construction and backlogged projects coming to fruition, and recent inclines in the price of oil as a byproduct of the Russia-Ukraine conflict.... Learn More
Decline in Exports for 2024: -4.2%
Adhesive Tape Manufacturers produce various adhesive tapes for use across many industries, including office tape, rubber electrical tape, box-sealing tape and reflective road marking tape. Demand for adhesive tape products relies heavily on the health of downstream industries, including construction in manufacturing. The recent slowdown in demand for construction, mainly driven by weak commercial real estate performance, elevated inflation and high interest rates, has caused demand for tape products to shrink. Similarly, some of these factors have led to weaker disposable income, lowering discretionary spending and causing demand from the manufacturing sector to slow down. Although tape producers benefited from... 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 2024
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 2024
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