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In the past years, the Russian construction industry faced such challenges as increasing material costs, fluctuating commissioning growth rates, as well as COVID-19-related setbacks. Nonetheless, the market, dominated by private organizations in terms of the volume of construction works, kept growing despite the adversity. Furthermore, Russia was the second-leading importer of construction worldwide after China. Impact of the war in Ukraine on construction in Russia. Western countries imposed export restrictions on some construction materials to Russia, while several foreign companies, such as the Finnish elevator manufacturer Kone, suspended operations in the country. Russia heavily depended on imports of several building materials, such as escalators. Furthermore, Russian imports of construction machinery were increasing before 2022, except in 2020. Therefore, construction companies were expected to switch to domestic alternatives and imports from Asia and the Middle East, while investment in construction projects nationwide was projected to decrease due to the sanctions as well as an increase in material prices. Residential construction. Over 110 million square meters of housing were built in Russia in 2023, with the amount of commissioned individual houses exceeding that of apartment blocks. Overall, the volume of residential construction grew by over 7.5 percent in Russia in 2023, with the highest increase recorded in the Far Eastern Federal District. The city of Moscow accounted for the largest area of multi-apartment residential building construction, followed by the Moscow Oblast and the Krasnodar Krai. The Samolet Group is the leading apartment building developer by area under construction, followed by the PIK Group and the LSR Group. Non-residential construction. Since 2010, the annual size of non-residential construction works has risen notably. In 2023, around 36 million square meters of non-residential buildings were constructed nationwide, having increased from the year before. Commercial and agricultural buildings account for the largest share in the Russian non-residential construction market. The Russian construction industry continued to increase the number and area of commissioned buildings in 2023. However, given the fact that most of these projects were planned in the years before an increase in construction costs and the Western sanctions on Russia over the war in Ukraine. Thus, the impact of these factors might only be seen in the following years.

Fertilizers are agricultural chemicals, that are widely used to improve soil fertility. Historically, fertilization came from organic sources such as animal manure and compost. Nowadays fertilizers are both natural and industrial products. Farming in Japan focuses on crop production, so the majority of shipped agricultural chemicals were used for vegetable and upland farming as well as paddy rice. Regarding chemical fertilizers, those made from ammonia had the largest consumption volume, followed by nitric acid. Japan not only depends on imports for materials to produce chemical fertilizer domestically but also relies on fertilizer imports overall, as the demand continuously exceeds the domestic fertilizer production. In 2021, the import value of fertilizer to Japan stood at over 98 billion Japanese yen, with China being by far the largest supplier. Increasing fertilizer prices challenge the farming industry. In 2022, the price of chemical fertilizers that the National Federation of Agricultural Cooperative Associations (Zen-Noh) sells to regional member cooperatives increased significantly. Reasons for the price hike were decreased shipments of fertilizer ingredients from Russia, Belarus, and Ukraine, increased fuel prices, and therefore higher transportation costs, as well as a weaker Japanese yen on the foreign exchange market. Since Japan is dependent on imports for fertilizer ingredients, the prices for chemical fertilizers are likely to remain high for the foreseeable future. Furthermore, since farmers need to cover costs, this issue may lead to either an increase in food prices or a reduction in the overall agricultural production volume. Further challenges and trends in the farming industry. The Japanese agricultural sector only accounts for slightly over one percent of the country's GDP since merely around 20 percent of Japanese land is suitable for cultivation. Another challenge for the sector is the aging workforce, as the average age of farmers stood at close to 68 years in 2020. Since the work is physically demanding and barely profitable, only few young people are willing to take over their parents' farms or enter the sector as newcomers. Consequently, the number of commercial farm households keeps declining. In recent years, the demand for sustainable foods among Japanese consumers has been growing, as indicated by the steadily increasing production volume of certified organic produce. However, organic farming is still a minor industry within the Japanese agricultural sector. The rainy season in early summer brings heavy rain and floods, challenging sustainable agriculture, while the hot and humid climate during summer accelerates weed growth and insect propagation. To counteract the spread of weeds and insects, chemical fertilizers are usually employed. However, overuse of chemical fertilizers may boost plant productivity initially but negatively impacts soil health in the long run as it contributes to soil acidification, alters the pH of the soil, and can even lead to the release of greenhouse gases.

Latin America may be an emerging economy across numerous sectors, but within the mining industry, its significance has since long been established. With the first records of commercial exploitation of mineral resources in the region dating back to the early 16thCentury, under Spanish and Portuguese colonial rule, Latin American countries have since then climbed their way to the top ranks of global production for a variety of metals and minerals. All that glitters is not gold… but it could be silver. Despite more than three centuries of heavy silver and gold extraction during European colonization, Latin America’s relevance in the global precious metals market has not waned. Currently, Peru is home to the world’s largest silver reserves, while Mexico, Chile, and Bolivia all rank among the top ten. These countries, along with Argentina, made the region responsible for more than half of silver produced worldwide in 2019. Peru and Mexico are also the leading gold producing nations in Latin America, with Brazil and Argentina trailing closely behind. A shiny copper empire. Regardless of its precious metals’ history, nowadays Latin America’s metal empire is built out of copper, with eight out of the ten leading mining companies in the region operating primarily in the production of this base metal. Chile, the largest copper producer, accounted for more than 28 percent of global production in 2020, with an output surpassing that of the following top three combined. The Chilean copper sector managed to survive the first year of the COVID-19 pandemic somewhat unfazed, with the annual production dropping by less than two percent, even amid lockdown measures and a decline in international demand. Meanwhile, neighboring Peru was hit hard by the coronavirus, with mines being shut down following the pandemic’s outbreak. In turn, the Peruvian annual copper production dropped by more than 12 percent in 2020, when compared to the previous year, dipping below 2016 output levels. Nevertheless, the Andean country still defended its position as global runner-up in copper production. A diversified portfolio. Still, Latin America’s mining success stems from more than a couple of metals. In terms of bauxite production, Brazil is the one that stands out in the global market, ranking amongst the top five. But Brazil's prominence in the mining sector lies in the ferrous industry. The country was the second largest iron ore mine producer in the world in 2020, with almost half a billion metric tons produced. The Latin American region has also kept up with the recent trends. Holding over 60 percent of global reserves, Chile and Argentina lead the region in terms of lithium production.

Indonesia’s construction sector is the fourth-largest contributor to the economy. Driven by the current government’s ambitious infrastructure plans, including the megaproject of Nusantara development, large-scale infrastructure developments have become the norm in the archipelago. Supported by its strong manufacturing sector, Indonesia's construction materials market is anticipated to grow significantly over the coming years. Raw and processed building materials in Indonesia. Given the growth rate of the construction industry in Indonesia, there is a high demand for building materials, particularly cement. Indonesia's cement producers have boosted annual production in the past few years. Its largest cement producer, state-owned Semen Indonesia, has increased its annual cement production capacity by over 50 percent since 2017. Accordingly, Indonesia ranked as one of the leading cement-producing nations in the world. Indonesia has the world's largest nickel production and reserves, highlighting its importance in the global nickel trade. In 2023, Indonesia produced half of the world’s nickel mines. Simultaneously, global demand for steel products – where most nickel production goes – keeps rising every year. Indonesia is currently one of the world's largest stainless-steel exporters. With more than 28 billion U.S. dollars worth of iron and steel exports in 2022, this metal is also one of Indonesia’s most in-demand export products. Apart from nickel, Indonesia also has an abundance of copper. The Grasberg mine in Papua is the second-largest copper mine in the world that is operated by PT Freeport Indonesia. It has one of the largest reserves of copper globally, with recovery rates reaching 90 percent. After the Indonesian government acquired most of PT Freeport Indonesia's shares in 2018, the company was required to build a second smelter following Indonesia's mining regulations, which demand that mineral ores be processed domestically. The new facility is anticipated to produce 1.7 million metric tons of copper concentrate annually. Moreover, Indonesia is one of the world's largest producers of timber. It also exports a wide variety of timber products, such as plywood and veneer, that are widely used for construction purposes. Indonesia's wood manufacturing sector is among its largest employment sectors. Challenges faced by the sector. Indonesia’s construction market is the largest in the ASEAN region. Despite having abundant resources and benefits from its large manpower to support the upstream and downstream processes of construction materials, raw material prices in Indonesia are still relatively high. Many developers, therefore, still favor using cheaper imported goods over locally produced ones. In recent years, the Indonesian government has restricted imports of construction materials, such as cement and aluminum, to boost the domestic market. With more government support to expand the domestic industry while lowering raw material prices, Indonesia aims to be self-sufficient in construction materials.

Per- and polyfluoroalkyl substances (PFAS), often referred to as “forever chemicals” due to their long-term resistance to degradation, constitute a controversial group of synthetic chemicals that have been widely produced by a variety of global chemical companies since the 1950s. As a result of their heat-, stain-, and water-resistant properties they have been utilized within non-stick cookware, waterproof clothing, firefighting foams, stain-resistant textiles, and many other items. However, despite this diverse range of applications, PFAS have been linked to significant adverse health impacts in both humans and animals. As such, the ubiquitous global use of PFAS chemicals, and their potential contamination within the environment and living organisms, poses a significant environmental and public health challenge. Health effects of PFAS exposure. Although a comprehensive understanding of the negative health impacts associated with PFAS chemicals is still lacking, existing evidence suggests that exposure to these substances can increase the risk of kidney and testicular cancer, disrupt the endocrine and immune systems, and impact fetal and child development. Given these potentially significant health impacts, the high frequency of PFAS detection in humans presents a major cause for concern. The remediation of PFAS-contaminated soil and water. In light of the adverse human health and environmental impacts of PFAS, urgent action by relevant stakeholders is required to prevent further exposure and harm. PFAS are persistent and bioaccumulative chemicals that have been widely detected within global samples of soil, water, air, food, and biota. International, national, regional, and local regulations and guidelines have been implemented to control the use and disposal of PFAS. Examples of such legislation includes the United States EPA’s drinking water health advisories for PFAS Chemicals, which serves as levels for exposure to PFAS chemicals in drinking water, and the Stockholm Convention, which has listed certain PFAS as persistent organic pollutants, requiring their elimination or reduction. The implementation of these regulations has increased the demand for effective treatment and disposal methods and as such the PFAS waste management market is expected to grow significantly in the coming years. Such remediation methods for PFAS can largely be classified into two main categories: sequestration and destruction. Sequestration methods aim to remove or immobilize PFAS from contaminated media, while destruction methods aim to break down or transform PFAS into less harmful compounds. Examples of sequestration methods include soil amendments, soil washing, thermal treatment, activated carbon, ion exchange, and membrane filtration. Destruction methods for PFAS-contaminated soil involve chemical oxidation, chemical reduction, and biological treatment, while destruction methods for water encompass advanced oxidation, electrochemical oxidation, and plasma treatment.

Compared to regular plastics made with non-renewable feedstocks, bio-based and biodegradable plastics are typically more sustainable. Increasing concerns over the use of petroleum and natural gas as the feedstocks of plastics, as well as the environmental issues associated with conventional plastic waste, have led to a push for more sustainable alternatives. Bioplastics are plastics that are biobased, biodegradable, or both. They are produced using renewable biomass sources such as corn starch, vegetable oils, sawdust, straw, and others. Bioplastic producer regions. As with fossil fuel-based plastics, Asia is also the leading bioplastics producing region in the world. Asia’s bioplastic production capacity accounted for 51 percent of the global production capacity in 2023. The bioplastics industry in China is ramping up in particular, with one company, China BBCA Group, poised to produce almost double the expected global demand volume of polylactic acid by 2023. North America was the second-largest bioplastic producing world region in 2023, with a 20 percent share of global production capacity. Bioplastics: greenwashing or a real solution to plastic pollution? Bioplastics currently represent approximately one percent of the global plastics production volume. This is expected to grow as bioplastics become more sophisticated and diverse. As of 2023, the total global production capacity of bioplastics was two million metric tons, and was forecast to continue growing year-over-year, up to 5.7 million metric tons by 2029. However, not all bioplastics are entirely sustainable. Fossil-based plastics, such as PBAT, can biodegrade, and therefore still qualify as bioplastics. Meanwhile, some bio-based plastics such as corn-based PET are not biodegradable. The biodegradation of some bioplastics is only able to occur in specific conditions, such as in high-temperature industrial composting facilities, to which many communities do not have access. Furthermore, as the global production and demand for bioplastics increases, so does the potential contribution to deforestation, as increasing areas of land are used to grow the feedstocks for bioplastics. Overall, while bioplastics are typically a less harmful alternative to conventional plastics, they are not a final solution to the plastic waste crisis, and efforts to reduce plastic consumption on a global scale remain very important.

Petrobras – short for Petróleo Brasileiro S.A. – a Brazilian corporation headquartered in Rio de Janeiro, is one of the largest oil and gas companies in the world and by far the largest in the oil and gas sector in Brazil, in terms of revenue. The corporation was established in 1953 to exert government control over oil exploration, production, refining, and distribution in the country. Although the company’s monopoly legally ended in 1997, Petrobras still holds a large share of the national oil and fuel industries. A giant in exploration and refining. Increases in Petrobras’ crude oil production are tied to the discovery and exploration of pre-salt layers. Pre-salt is a series of geological formations established by the separation of what are currently the American and African continents. Its deposits are normally located in deep-sea areas, under thick layers of salt. In 2023, the company produced some 2.2 million barrels per day. Petrobras accounts for more than 90 percent of the crude oil output in Brazil. The largest contribution to the company’s revenue, however, comes from the refining, transportation, and marketing segment. Petrobras owned 12 out of the 18 existing oil refineries in Brazil, which correspond to over 80 percent of the national refining capacity. Petrobras profits from 2022 and 2023 global supply crisis. Ten years since its involvement in a corruption scandal and a following economic crisis that had massive repercussions for company profits, Petrobras’ revenue has climbed again to over 100 billion U.S. dollars. Meanwhile, Petrobras’ net income received a massive boost from the 2022 oil and gas price hike and was also able to close out 2023 with a net profit of nearly 25 billion U.S. dollars. Going forward the company is set to increase investments in the petrochemicals and refining sector, specifically taking up operation of its Araucária Nitrogenados fertilizer plant again by mid-2025.

Minerals are an essential component of various industries, especially manufacturing and construction. Due to the versatile use of minerals, Thailand has also taken advantage of its deposits while tightly regulating the mining businesses. The country has established a strong subsector for industrial construction materials that focuses on non-metallic types of rocks and minerals through strict control. The control of mining operations in Thailand. Although commercially rewarding for both private and public sectors, mining is highly hazardous to the environment. In the past, Thailand has had various complaints filed from locals living around mining areas regarding the effects of mining operations. These impacts include noise pollution, excessive dust accumulation, and leakage of arsenic in water supplies, all of which contribute to the country's leading environmental concerns. However, the rise in government spending on environmental protection has enabled the state to pay more attention to mining operations with a long-term focus on sustainability. Mining in Thailand is currently regulated under the Minerals Act. A general rule stipulates that mineral extraction requires a mining license and granted concessions, regardless of the ownership status of the area. Additionally, underground mining and other operations that could cause leakage from lead and arsenic substances are required to undergo an environmental and health impact assessment. These mining businesses must also be responsible for the proper disposal of toxic waste they produce and for rehabilitating the affected areas that were deteriorated from mining. In recent years, the number of mines in Thailand has declined, partially due to greater control of mining operations since 2017. The important minerals in Thailand. Thailand substantially produces industrial minerals such as limestone, granite, and basalt. The demand for these materials is determined by the country's increasing levels of urbanization since the construction industry substantially requires the use of these materials. Another essential mineral for the construction industry is gypsum, a soft sulfate mineral, which is a significant component in cement production. Other important non-metallic minerals in Thailand include lignite, dolomite, rock salt, potash, feldspar, and glass sand. Thailand also has metal deposits such as gold, zinc, tin, iron, and tungsten. Base metal mineral deposits such as tin can be found primarily in the southern region. Although once a crucial product in the 1800s, tin production in Thailand has remained relatively stagnant due to environmental concerns and mineral depletion. Besides base metals, precious metals such as gold are also found in the country's eastern regions. However, Thailand does not engage in gold mining operations since the environmental damage from gold extraction far outweighs its economic benefits. Therefore, Thailand has mainly relied on importing gold, whose import value has decreased in recent years.

In a region as large and diverse as Latin America, the size of the construction sector varies a lot from one country to another. While construction represented over a tenth of the economy in some parts of Central America and the Caribbean in 2023, the GDP share of the construction industry was lower in most of the countries in the region. In Peru, Mexico, and Chile, the sector made up between five and eight percent of their GDP, while it amounted to less than four percent in Brazil, Argentina, and Bolivia. Nevertheless, Brazil had the second- largest construction sector in Latin America in absolute terms that year, after Mexico, whose construction revenue was much higher than that of any other country in the region. The price growth of building materials slows down. Although labor represented over half of the costs of erecting a building in Brazil in 2024, the price of raw materials and appliances tends to be another of the largest components determining the final cost of a project in most countries. In addition to that, the cost of construction materials in Chile and other countries in Latin America increased a lot in 2022 and 2023 as a result of inflation, supply-chain disruptions, and other economic problems. However, the price of construction materials grew at a slower rate in 2023 and 2024. That was also the case for Mexico, with the construction costs of building materials growing by just 1.74 percent in 2024, while that growth rate reached 14.54 percent in 2022. Building permits fall in Chile, Argentina, and Colombia. Building permits are a good indicator of the production level of the construction sector in a certain country. For example, the number of building permits in Argentina increased in 2024, and they authorized, in total, the construction of nearly 18.9 million square meters. The area authorized for new construction projects in Chile would suggest that in the coming years, as those projects are completed, there will be fewer new homes for sale, as the area authorized for residential construction has been falling at a fast pace since 2021. Meanwhile, the surface area of buildings authorized for construction in Colombia also fell in 2024, both for the multifamily and the single-family segments. Given that the number of permits in several countries fell in 2024, it will be important to observe if some of those trends are reversed in 2025.

Australia’s construction industry is a key contributor to the national economy, employing over one million people across various segments. Sector-wise, the value of construction work in the private sector was significantly higher than that of its public counterpart. In 2024, the industry’s gross value added exceeded 175 billion Australian dollars, continuing the upward trend since 2021. With a growing population comes the need for more residential housing, commercial buildings, social spaces, and infrastructure. While the construction and maintenance of buildings and infrastructure nationwide is vital, the industry faces several obstacles, including material and project cost escalation, skilled worker shortages, and high project deferral and abandonment rates due to lack of funding. Alongside this, affordability continues to outweigh sustainability targets in the sector. Can Australia’s housing crisis be fixed? Construction activities for residential projects vary across Australia’s states and territories, with New South Wales, Victoria, and Queensland being the country’s construction hotspots due to their higher population densities. The value of residential construction work completed across Australia surpassed 100 billion Australian dollars in 2024, marking a rise from the previous year. While Australia’s residential housing stock increased in 2024, the country’s disparity between residential building work completed and housing demand continues to be a major challenge despite the government’s goal of providing a sufficient supply for its population. From April 2025 to March 2027, the introduction of a foreign buyer ban on established residential properties hopes to provide some relief, despite temporarily exacerbating the issue as foreign investors rush to beat the April ban. Non-residential building activities. In the non-residential construction segment, encompassing commercial buildings such as offices, retail outlets, and industrial facilities, activities remained relatively stable. Recent construction focused primarily on offices, warehouses, education buildings, retail and wholesale trade spaces, and health facilities. The value of construction work on warehouses in Australia amounted to over 8.9 billion Australian dollars in 2024, with mounting demand attributable to the pandemic-induced e-commerce boom. Australia’s infrastructure pipeline. Infrastructure construction encompasses various projects to construct and improve transport, water, telecommunications, and energy structures and networks. In the 2024 financial year, the value of infrastructure engineering construction work completed across Australia amounted to over 60 billion Australian dollars. Regarding upcoming projects, energy, social, and transport-related projects were the leading types of major infrastructure pipeline projects in the early stages of planning as of February 2025, with around 70 energy projects in the prospective stage awaiting approval and funding. Projections show Australia's major infrastructure pipeline expenditure in the first quarter of 2025 would primarily focus on energy, rail, and road infrastructure development, with estimated spending across all pipeline projects of almost 19 billion Australian dollars. While Australia’s construction industry growth remains slow, the outlook for the residential segment is becoming more positive, with an acceleration expected in the coming years following a static period. Non-residential activities, on the other hand, are expected to stay resilient but witness subdued growth. Infrastructure construction is set to continue its boom and start to level off in 2026.

Tanzania is abundant in minerals and natural resources, such as gold, diamonds, coal, and natural gas. As of 2021, nearly 500 active licenses explored over 40 types of minerals in the country. Unsurprisingly, mining activities constitute a prominent industry in Tanzania's economy. Mining and quarrying accounted for roughly seven percent of the Tanzanian GDP in 2020. The sector employed more than 310,000 Tanzanians, while the country's earnings with mineral exports surpassed 3.6 billion U.S. dollars. Gold: a main foreign exchange earner. Gold production in Tanzania ranks as the fourth largest in Africa, just behind South Africa, Ghana, and Sudan. The precious metal is also the main mineral sourced in Tanzanian territory, with the main gold mines concentrated in greenstone belts around Lake Victoria. Large and medium scale producers account for roughly 70 percent of the Tanzanian gold production, which reached nearly 47 metric tons in 2020. Just in the Geita mine, one of the biggest gold mines in Africa, the output stood at 623,000 ounces of gold (around 17.7 metric tons). That same year, gold exports amounted to nearly three billion U.S dollars, making the precious metal Tanzania’s main export item. Diamonds and other gemstones. Apart from gold, Tanzania's mining industry benefits from substantial gemstones reserves, including diamonds, ruby, and tanzanite - a blue rare gem extracted solely in the country. Gemstone production (excluding diamonds) strongly increased in 2020, reaching nearly 24 thousand metric tons, a growth mainly attributed to a larger activity among small-scale miners. On the other hand, diamonds recorded the lowest output since 2015, in consequence of an interruption in the Williamson mine. This open pit, which accounts for over 90 percent of Tanzania's diamond production, is also one of the largest and oldest diamond mines in Africa. From April 2020 till the second half of 2021, the Williamson mine was placed on maintenance to preserve its liquidity. The untapped potential of energy fuels. Opportunities in Tanzania's extractive industry lay on the country's vast mineral fuel deposits. Tanzania has one of the largest coal reserves in Africa and is a global leader in uranium reserves. Additionally, recent discoveries increased the estimated value of natural gas reserves to over 55 trillion cubic feet. In the last two decades, natural gas production has strongly developed in the country, however mainly focused on supplying the domestic demand. To change this scenario, Tanzania's government resumed negotiations with international companies at the end of 2021 for the construction of a long-awaited LNG plant on the southern coast of the country. With an investment value estimated at 30 billion U.S. dollars, the Likong’o-Mchinga LNG Project is expected to unlock Tanzania's potential for natural gas trade.

DuPont de Nemours, Inc. is a global leading chemical company based in Delaware, United States, with a long history of innovation, creating groundbreaking products such as Kevlar, Tyvek, and Teflon. Whilst the DuPont chemical company has undoubtedly changed the global chemical landscape over its lifetime, not all of its flagship products have had an exclusively positive impact. DuPont's financial standing. Following its spin-off from the chemical conglomerate DowDuPont, the global revenue of DuPont has decreased from 22.6 billion U.S. dollars in 2018, to approximately 12.39 billion U.S. dollars in 2024. In 2021, the company completely divested its ‘Nutrition & Biosciences’ segment to International Flavors & Fragrance, and in 2022, divested the majority of its Mobility & Materials segment to Celanese. Through the last years, DuPont's most profitable region has been Asia Pacific, followed by the United States, with DuPont reporting a net income globally of 703 million U.S. dollars in 2024. Operational segments of DuPont. As of financial year 2024, the operations of DuPont were divided in three segments: Water & Protection, Electronics & Industrial, and Corporate & Other. The Water & Protection and Electronics & Industrial segments were the most profitable in the last year, with global revenues of 5.9 billion U.S dollars and 5.4 billion U.S dollars respectively. Products developed by DuPont. DuPont is a diversified company that develops and manufactures products for various sectors, including automotive, construction, energy, military and law enforcement, and packaging. Kevlar, a lightweight and durable organic fiber aramid used in military equipment, is one of DuPont's most well-known products. Other notable products include Lycra, Tyvek housewrap, neoprene synthetic rubber, nylon, and Teflon non-stick coating. Dupont's manufacturing history also includes several controversial products, including lead-based paints, which were later found to be toxic and detrimental to human health; chlorofluorocarbons (CFCs), that were widely used in refrigeration, air conditioning, and aerosol products and were subsequently shown to cause stratospheric ozone depletion; and harmful chemicals like the per- and polyfluoroalkyl substances (PFAS) found in Teflon. The DuPont chemical company remains a globally significant manufacturer of many products that play a significant role in modern society. Whilst some of their more controversial products have now been discontinued as a part of the DuPont product line, their manufacture and long-term environmental persistence and bioaccumulation has raised significant concerns about the impact of the DuPont chemical company on society and the environment.

From car parts to medical equipment, plastics are the invisible backbone of Thailand’s modern industries. At the heart of this network lies a powerful petrochemical sector that fuels the country’s thriving construction, electronics, healthcare, and automotive markets, making the plastics industry not just important but indispensable to Thailand’s economic engine. Thailand has long been a regional hub for plastics production and export, backed by efficient manufacturing and ready supplies of natural feedstocks. While growth has been consistent, the road ahead looks less predictable. Global competition is heating up, consumer expectations are shifting, and environmental concerns are reshaping market demands. Reflecting this mix of momentum and uncertainty, the Thai plastics industry sentiment index paints a picture of an industry in cautious transition. Domestic production and structural realities. Thailand’s plastics industry is structured around a large number of SMEs, with a clear concentration in the central region, near industrial and transport hubs like Bangkok or Samut Prakan. The distribution of plastic producers in Thailand reflects the importance of location for logistics and raw material access. Most companies produce mid-range goods like packaging, containers, or components for industrial use. The country produces millions of tons of plastics annually, supplemented by imports of raw materials. While domestic consumption remains strong across packaging, construction, and household goods, a significant share of output is exported to regional and global markets. Among various plastic types, polyethylene (PE) production had the highest production value in recent years due to its broad use in both consumer and industrial applications. Although the industry has a solid supply of petrochemicals upstream, it is increasingly under cost pressure from fluctuating feedstock prices and the increase in low-priced imports. Consequently, many producers' margins have decreased, and they now depend more on value-added or niche markets to remain competitive. Growing focus on plastic waste in Thailand. Environmental issues have become critical to the future of the Thai plastics industry. Thai authorities responded by enacting stricter regulations in 2025 with the goal of reducing imported waste and raising recycling standards domestically. These laws were partly driven by growing concerns about the volume of plastic waste, pairings, and scrap imports to Thailand, which strained local waste systems. Changing consumer behavior has an impact on the environment as well. Convenience stores, where disposable bags and packaging are mostly used, account for the largest share of single-use plastic waste in Thailand. The majority of plastic trash, particularly low-quality packaging with no practical choices for reuse, still ends up in landfills or the environment despite significant recycling improvements. In the future, the industry will need to adjust to new global laws like the Global Plastic Treaty and the growing demand for sustainable alternatives. This calls for additional infrastructure for waste processing, investments in recyclable and biodegradable materials, and a change in product design that aligns with the circular economy's principles.

Buried beneath the surface of Africa is a wealth of hugely valuable and extractable natural resources, making its mining industry one of the most important in the world. Africa is a major producer of many key mineral commodities, with bountiful reserves of metals and minerals such as gold, diamond, cobalt, bauxite, iron ore, coal, and copper across the continent. Some of the major mining countries in Africa are the Democratic Republic of the Congo (DRC), South Africa, Namibia, and Zimbabwe. It is estimated that Africa houses roughly 30 percent of the known global mineral reserves, and these desirable commodities have been extracted, and often exploited, for centuries. The continent remains hugely attractive for foreign investment, especially for China, where its outward FDI stock in Africa’s mining industry totalled more than 42 billion U.S. dollars in 2023. As a major manufacturer of electronics, China’s demand for raw materials is high. African minerals in electronics. Most electrical products we use today are reliant on a number of different minerals, and many of these are found in Africa, including tungsten, gold, tin, and cobalt. Cobalt is primarily used in the production of lithium batteries and is often a by-product of the copper nickel mining industries. Roughly half of global cobalt reserves can be found in DR Congo’s copper belt, and in 2024 the country’s cobalt production totalled an estimated 220,000 metric tons. Tantalum is another mineral used in electronic equipment. Tantalum capacitors are used in products such as mobile phones and laptops, as well as automotive electronics applications. DR Congo is the largest producer of tantalum worldwide, however it is a controversial commodity. While these commodities are important to everyday life, they have often been used to fund bloody conflicts and have thus earned the name “conflict minerals”, much like “blood diamonds”. Precious metals and gems in Africa. Two of the most profitable minerals produced in Africa are gold and diamonds. There are a number of major diamond-producing countries across Africa, such as Botswana, South Africa, and Zimbabwe. However, one of the largest producers is Botswana, where in 2024, diamond production totalled an estimated eight million carats. This made the country the second-largest diamond producer worldwide. Africa also holds the majority of the world’s platinum reserves, specifically in South Africa, which has platinum reserves of 63,000 metric tons. In 2024, South Africa’s estimated platinum production amounted to 120 metric tons.

The global specialty chemicals industry is a sector within the broader chemical market, characterized by its focus on products with specific performance attributes rather than bulk chemicals. As of 2023, the global market value of specialty chemicals was estimated to be approximately 640.8 billion U.S. dollars. This sector includes a diverse range of products such as additives, adhesives, agrochemicals, and polymers, each tailored to meet the specific and unique requirements of various end-user industries, including automotive, construction, and pharmaceuticals. Growth factors for specialty chemicals. The expansion of the infrastructure and real estate sectors in emerging global economies has been a significant driver of growth in the specialty chemicals market. Countries such as China, India, and South Africa have seen significant increases in demand for specialty chemicals due to their rapid industrialization and urbanization. In 2024, China accounted for over half of the global fine and specialty chemical sales, underscoring its dominant position in the industry. Meanwhile, the United States and the European Union continue to hold substantial market shares, supported by strong investments in research and development to produce advanced chemical solutions. The competitive landscape of this industry has led to numerous mergers and acquisitions, with 127 deals in 2023, as companies seek to enhance their technological capabilities and market presence. Specialty chemicals: industry outlook and technological developments. The outlook for the specialty chemicals industry is positive, with technological advancements fueling an increasing demand for high-performance materials across a variety of global industries. One significant driver is the renewable energy sector. The manufacturing and maintenance of solar panels and wind turbines rely heavily on specialty chemicals, such as high-purity silicon for photovoltaic cells and corrosion-resistant coatings for wind turbine blades. The rapid growth of the electric vehicle industry has also driven demand for specialty chemicals like high-performance battery electrolytes, thermal interface materials, and lightweight composite materials. Additionally, the expansion of advanced electronics and computing has fueled the need for specialty chemicals, including high-purity solvents, photoresists, and precision cleaning agents used in semiconductor fabrication and electronics assembly. These chemicals have been critical in achieving the high levels of performance and reliability required in modern electronic devices. Collaboration between specialty chemical companies and technology firms is facilitating the development of innovative materials, coatings, and chemicals essential for next-generation technologies. As these technologies advance, the specialty chemicals sector is expected to continue attracting investment and fostering innovation, solidifying its role in the global industrial landscape.

Founded in 1917 in Johannesburg, South Africa, multinational mining company Anglo American is now listed in London and is among the 10 largest mining companies worldwide based on revenue. With 56 sites across 15 countries around the world, its operations are mainly in the exploration and extraction of natural commodities such as base metals, minerals, precious metals. In 2023, Anglo American’s revenue totaled 32.5 billion U.S. dollars. Which minerals does Anglo American produce? Anglo American has vested interests in numerous commodities. These include copper, diamonds, coal, polyhalite, nickel, iron ore, manganese, and platinum. Anglo American was the world’s largest producer of platinum as of 2023, accounting for a 39 percent share of the world’s annual production as of 2023. The two most financially rewarding of Anglo American’s segments are the Platinum Group Metals segment and the Iron Ore segment. In 2023, Anglo American's iron ore production totaled 35.7 million metric tons at the company's Kumba mine in South Africa, and another 24.2 million metric tons at its Minas-Rio mine in Brazil. In 2021 Anglo American finalized the sale of its thermal coal mining assets to Glencore, and thus Anglo American only produced steelmaking coal from 2022 onwards. This is due to pressure from investors, regulators, and environmentalists to move away from the polluting fossil fuel as the world looks to cleaner energy sources. A Diamond is not Forever: Anglo American's ownership and sale of De Beers and other portfolio changes. In 2011, Anglo American increased its stake in the diamond company De Beers to 85 percent, with the remaining 15 percent owned by the Government of the Republic of Botswana. De Beers is one of the leading diamond mining companies worldwide, with a diamond production that amounted to roughly 32 million carats of diamonds in 2023. In 2024, rival mining giant BHP offered to buy out Anglo American for over 30 billion British pounds in what would have been the world's largest mining sector deal in the last decade, however both the first and second offers were rejected. Amidst BHP's attempts to take over Anglo American, Anglo American has announced plans to divest De Beers and Anglo American Platinum and focus on its crop nutrients, copper, and iron ore businesses.

Australia’s lithium mining industry has experienced one of its most challenging years yet. While global lithium demand is higher than ever with growth forecast to continue, oversupply and weaker-than-expected electric vehicle sales have driven prices of lithium compounds and minerals down. With prices volatile and difficult to predict, the profitability of mining lithium, once referred to as “white gold” in Australia, has been called into question. Australia’s critical role in the global lithium supply chain. Australia is one of the leading lithium-producing countries worldwide. While other major lithium producers such as Chile, China, and Argentina obtain lithium from salt flats, Australia mines the lithium-mineral spodumene found in hard-rock deposits in Western Australia. Production of lithium in Australia ramped up from 2017 onwards, with the volume reaching 88 thousand metric tons in 2024. This spodumene is then either exported or refined further into lithium hydroxide before being exported. Currently, the major destination for Western Australia’s lithium spodumene concentrate exports is China. Despite record-high export volumes of both spodumene and lithium hydroxide, many big lithium miners in Australia reported major losses in the latest fiscal year due to falling global lithium prices. Could Australia’s lithium mining industry be at a breaking point? Among the top three lithium mining companies listed on the ASX, Pilbara Minerals and Mineral Resources both have lithium mining projects within the country itself. Australia’s spodumene producers have been struggling to turn a profit at current prices. Despite a high production volume of lithium spodumene concentrate of Mineral Resources Ltd, the company reported a net loss after tax of over 900 million Australian dollars in 2025. The challenging market environment can also be seen in the latest financial statements of Pilbara Minerals and IGO, both reporting losses. Nevertheless, lithium prices started to rebound as of August 2025, which has alleviated some pressure off lithium miners. While lithium prices have started to increase, it may still be some time before profit margins start to grow again. The last year has shown that prices are difficult to predict and heavily influenced by supply and demand. In the short term, lithium miners may be hesitant to invest in and expand their operations, prioritizing their profitable business segments instead. With demand for lithium-ion batteries projected to continue increasing, mining companies that can bounce back from the difficult year will still be banking on the necessity of the metal in future battery technologies.

The construction sector accounted for 2.9 percent of Singapore's nominal gross domestic product in 2021. While this sector was severely hit by the COVID-19 pandemic in 2020, the construction sector grew by 20 percent in 2021, on the back of a strong post-COVID-19 economic recovery in Singapore. Although the industry has yet to bounce back to pre-pandemic levels, several major public sector projects are expected to spur growth and recovery in the years to come. Singapore's construction sector - recovering from COVID-19. Singapore's construction sector was among its worst-hit industries during the COVID-19 pandemic, with many developers placing their projects on hold or scaling back on developments. The pandemic restrictions on travel also resulted in a labor shortage for the construction sector, which is heavily reliant on foreign labor from neighboring countries such as Bangladesh, India, and China. This sector also faced a shortage of building supplies such as steel and concrete, as the pandemic disrupted the global supply chain. Despite the growth of the construction sector in Singapore in 2021, there are still significant challenges to overcome in the industry. Although travel restrictions have been lifted, there is still a shortage of manpower, exacerbated by the increase in costs of hiring foreign labor. To mitigate this, the Singapore government has taken steps to reduce the reliance on foreign labor, such as reducing the migrant worker dependency ratio ceiling. However, how realistic that is, remains to be seen, as the number of residents in construction is far lower than that of foreigners. Furthermore, the construction sector faces rising building material costs, with the market price of steel in Singapore reaching a ten-year high in 2021. This would further increase costs incurred by construction projects. Major infrastructure projects spur Singapore's construction sector recovery. The construction industry is, however, expected to improve, spurred by public sector construction demand. Singapore's largest road project, the North-South Corridor, is already in the works and is set to be completed by 2026. Further boosting construction demand are its ambitious civil engineering projects, such as the expansion of the Mass Rapid Transit (MRT) system with the 29 kilometers, 12 stations Cross Island Line Phase 1; the building of the 62km-long Coast-to-Coast (C2C) Southern Trail, a cross-island cycling and walking path; and the construction of the Integrated Transport Hub at Jurong East. With all these developments in the works, the BCA has projected the construction demand in Singapore to be between 27 to 32 billion Singapore dollars in 2022.

Agricultural chemistry is an important part of the Japanese agriculture industry. It includes various chemical products that are used in agriculture for crop protection such as pesticides, insecticides, and herbicides as well as chemical fertilizers. Crop protection chemicals help improve the yield and the quality of the crops by killing specific plants or pests, while fertilizers are applied to soil or plant tissues to supply nutrients to improve plant growth. Many agrochemicals are highly toxic and may pose significant environmental and health risks, especially when accidentally spilled. Therefore, their usage is highly regulated. In Japan, the main cause of accidents related to agrochemical usage was accidental ingestion due to poor storage management as well as insufficient coverage.  Agrochemical usage in the Japanese farming industry . In Japan, agriculture only represents a small industry. Since farming focuses on crop production, the majority of shipped agricultural chemicals were used for vegetables and upland farming as well as paddy rice. Crop protection chemicals such as herbicides represented the largest number of registered agricultural chemicals, followed by insecticides. Next to the small area of suitable land for cultivation and the aging workforce, the climate poses another challenge for the Japanese farming industry. The rainy season in early summer brings heavy rain and floods, while the hot and humid climate during summer accelerates weed growth and insect propagation. Agrochemicals are widely used to counteract these issues. However, overuse of, for example, chemical fertilizers may boost plant productivity initially but negatively impacts soil health in the long run as it contributes to soil acidification and alters the pH of the soil.  Chemical fertilizers in Japan . In recent years, ammonia (NH3) had the highest production volume of chemical fertilizers in Japan. Ammonia can be directly applied to the soil as a plant nutrient or converted into various nitrogen-based fertilizers. However, ammonia poses safety and health risks as it rapidly reacts with body moisture. Therefore, appropriate personal protective equipment must be used when handling it at storage facilities and during field application. Japan depends both on imports for materials to produce chemical fertilizers domestically as well as chemical fertilizer imports overall, as its demand exceeds the domestic fertilizer production continuously. Presently, the increasing prices of fertilizers challenge the Japanese farming industry. The higher price is caused by decreased shipments of fertilizer ingredients due to the Ukraine invasion, increased fuel prices as well as a weaker Japanese yen. Since farmers need to cover costs, this may lead to higher food prices or a reduction in agricultural production volume.

Russia has one of the largest coal industries worldwide. The country possesses the second-largest proven coal reserves after the United States. Production of this fossil fuel is especially developed in Siberia and the Far East. Russia ranks sixth worldwide by coal production and consumption. The coal produced in the country is primarily supplied to power generation, coking, and export trade. Russia is home to several major coal companies, such as Siberian Coal Energy Company (SUEK), Kuzbassrazrezugol (KRU), and SDS-Ugol. Several Western countries, such as European Union (EU) members and the United States, banned coal imports from Russia as part of the sanctions in response to the invasion of Ukraine, while China increased the imports. In total, Russia has shipped over 32 billion euros worth of coal to China since the invasion as of December 2024, while coal exports to India exceeded 12 billion euros. Coal export shift to Asia. Russia aspires to become the world's leading coal exporter. At the moment, the country exports the third-largest volume of coal after Indonesia and Australia. In the 2010s, Russia's coal export shipments increased, and in 2023 they exceeded 207 million metric tons. The industry is shifting its coal export ambitions to Asia-Pacific (APAC) markets — China being the leading destination. Russia is upgrading and expanding the Trans-Siberian and Baikal–Amur Mainline (BAM) railroads, which carry coal and other commodities for export to Asian countries. For the coal sector, a shift to Asia is considered an opportunity to generate as much revenue from coal exports as possible before the demand for that fossil fuel declines in all global regions. Industry modernization. The industry is undergoing transformation under a state program until 2035. One of the steps in the development strategy is opening new mines. As of April 2024, 34 new coal mines were proposed in the country, 12 of which were already under construction. Other steps involve modernization of infrastructure and employment of deep coal processing. The latter refers to technology that enables production of liquid fuels, coke, and other chemical products from coal. This would enable companies to process coal directly at their sites and increase their earnings by selling processed products. Outlook. According to the scenario that considers that the global energy policy follows its current trajectory, Russia's coal production will decrease from 9.4 exajoules in 2022 to 3.2 exajoules in 2050. An even more significant decline is forecast under the Net Zero scenario. Furthermore, under both scenarios, consumption of primary energy from coal is projected to see a reduction. Life of mine closures, referring to the final stage of certain mining operations, are expected to result in over 17,000 potential layoffs at SUEK by 2050.

Lithium, a silvery-white alkali metal discovered over two centuries ago – with usage ranging from glass and ceramics to mood disorder medication – has recently experienced a boom in popularity due to its utilization in ion-lithium batteries, the preferred power source for electric vehicles. As a result, the price of lithium carbonate has soared throughout the past decade, leading it to be labelled the “white gold” or “petroleum of the future”. With demand for this metal set to continue rising in the near future, South America – which holds more than half of lithium reserves worldwide – has found itself at the center of attention, with governments and companies alike trying to secure a piece of the pie. Welcome to the lithium triangle. Chile is by far the largest lithium producer in the region, with an estimated output of 26 thousand metric tons in 2021. Production is concentrated exclusively in the Atacama desert, a region in the north of the country which, along with salt flats in Bolivia and Argentina, form the so-called “lithium triangle” in South America. Despite the overall increase in annual output in recent years, Chile has not managed to keep up with the growth in global demand, losing significant share in worldwide production. This is at least partially related to the government’s historically strict regulations, which gave Chilean mining company SQM and U.S.-based Albemarle exclusive exploration rights in the country. Although other mining corporations have started investing in Chile’s lithium projects, the market's development has faced a lot of resistance from environmentalists. In contrast, Argentina’s reserves – distributed between the provinces of Jujuy, Catamarca, and Salta – have been a focus of foreign investment in recent years. U.S.-American Livent and Australian Orocobre are the largest lithium carbonate producers in the country. With foreign investment pouring in, lithium production in Argentina has more than doubled since the beginning of the decade. Capacity additions adding up to 85 thousand tons have been announced or are under construction, with additional projects at different stages of development. Meanwhile, lithium production in Bolivia, which is under exclusive governmental exploitation by state-owned Yacimientos de Litio Bolivianos, is still in the pilot stage. Commercial production is expected to start by 2025, at the latest. A new study has recently estimated Bolivia’s lithium resources at 21 million metric tons, more than twice what had been previously evaluated, and potentially making it the largest lithium reserve in the world. Brazil gains traction in the lithium race. Unlike the salt brines in the lithium triangle, Brazil's lithium is found in the form of pegmatites - mineral ores generally extracted from open pit mines. Despite significantly smaller reserves, the Portuguese-speaking country also ranks amongst the largest lithium producers worldwide. Until recently, Brazilian enterprise CBL, operating in the state of Minas Gerais, was the only lithium-producing company in the country. But as other global mining companies start operations in the territory, Brazil also tries to profit from the higher stages of the metal’s value chain, with investments in lithium batteries production plants attracting billions of dollars.

The Indian chemical industry is one of the largest worldwide. In 2023, it ranked fifth in the world in terms of revenue. With over 80 thousand products, it is also one of the most diversified sectors in the country. Furthermore, it provides raw materials to many end-use industries and acts as a backbone in the development process of the nation. From financial years 2016 to 2020, foreign investment in the Indian chemical sector was over one billion U.S. dollars per year, although this value decreased slightly in 2021, 2022 and 2024. Base and specialty chemicals in India. Chemical products can be broadly classified into base and specialty chemicals. The vast majority of chemicals manufactured in India are base chemicals. In financial year 2023, the production volume of basic major chemicals and petrochemicals in the country reached some 31.1 million metric tons. Base chemicals are also known as bulk chemicals, as they are manufactured on a large scale and used as intermediates to produce other chemicals. Specialty chemicals are derived from base chemicals and are also known as performance chemicals. These include paints, adhesives, agrochemicals, surfactants, water treatment chemicals, flavors, and fragrances, to name a few. The consumption volume of these chemicals is lower in comparison to base chemicals as they are used based on application. This sector is expected to grow in the future based on increased local demand, higher export share, and supportive government policies. Indian agrochemical industry. Chemicals used for the protection of agricultural harvest from insects and pests are classified as agrochemicals. This comprises various insecticides, pesticides, and herbicides. The south Asian country was one of the leading agrochemical producers in the world. Furthermore, agrochemicals account for almost 30 percent of the specialty chemicals industry in India, the largest segment within the sector. Exports of agrochemicals in the country reached 384 thousand metric tons in financial year 2021. United Phosphorous Limited (UPL), one of the major players in the sector, was among the leading agrochemical companies in the world.

Indonesia has an abundance of natural resources, including a diverse range of essential metals and minerals. The country holds the world’s largest nickel reserves, along with substantial reserves of coal and other minerals. As of 2023, the GDP generated from mining and quarrying reached over two quadrillion Indonesian rupiah, nearly doubling over the past five years. In addition, the sector received about 4.7 billion U.S. dollars in foreign direct investment, highlighting its attractiveness to the global market. With such a significant contribution, the mining sector has a crucial role in Indonesia’s economy, making the nation one of the key players in the global mining industry. Key mining commodities. Indonesia is one of the leading producers of many minerals, including bauxite, copper, tin, and gold. However, among those, coal and nickel stand out as the country’s primary mining commodities, with Indonesia ranking as the third largest coal producer globally and accounting for half of the world’s nickel production. With its notable influence in the global nickel market, Indonesia also aims to compete in the electric vehicle (EV) industry by producing EV batteries domestically, which heavily rely on nickel as a key component. Export ban on raw minerals. To further benefit from its rich mineral resources and boost economic growth, the Indonesian government has banned the export of unprocessed nickel ores since 2020. With this policy, it is obligatory to process raw materials domestically before being exported, therefore increasing their value. Despite strong objections from the European Union, Indonesia has seen a significant economic impact from this regulation. The export values of nickel from Indonesia have notably surged since the ban, with the 2023 value reaching over five times the exports in 2021. Following nickel ores, the government plans to implement an export ban policy on other commodities, including tin and copper concentrates, that will come into effect in 2025. Challenges in the sector. Illegal mining activities have been among the most serious and persistent issues in Indonesia’s mining sector. This has caused damage to the environment and affected local communities by harming the economy. Thousands of illegal mining sites are spread across the provinces of Indonesia, leading to significant financial losses for the country. Moreover, environmental issues such as greenhouse gas emissions from mining activities continue to become a concern that needs to be addressed. Mining operations still frequently lead to deforestation, water pollution, and land degradation that disadvantage the livelihood of the local population near Indonesian mining sites. These challenges emphasize the urgency to ensure sustainability in mining policies enforcement.

Organic food consumption in Finland has increased in recent years. This development can be seen in the growing retail sales revenue generated by organic food. In 2016, organic food sales increased to 273 million euros, 110 million euros more than in 2011. As a result, organic products accounted for two percent of the Finnish retail market. Despite continuous growth since 2013, the development has not been as rapid as in other Nordic countries. Looking at different product categories, eggs had the highest organic market share of over 15 percent in 2016. Organic milk as well as organic fruit and vegetables accounted for roughly four percent of each respective market. The popularity of organic food is characterized by more general market trends related to well-being, natural ingredients and responsibility. New categories and products are introduced to respond to the needs of the conscious consumer. Based on the results of a 2015 survey on organic food consumption, Finnish organic food consumers can be divided into four categories: active consumers (27 percent), regular consumers (22 percent), occasional consumers (37 percent) and nonconsumers (14 percent). According to a 2017 survey on the same topic, the share of individuals consuming organic food regularly increased by five percent compared to 2015. The most regular organic food eaters were women aged 15 to 49, as well as men aged 35 to 49. Individuals living in the metropolitan area and Western Finland consumed organic produce more regularly than their counterparts in Southern, Northern and Eastern Finland. Households with children chose organic products more often than individuals living alone. The income level also had an impact on organic food consumption, as individuals with an annual income of over 60,000 euros ate organic food more often than individuals with lower salary levels. From 2015 to 2017, the demand for clean food and local produce increased notably. Approximately 85 percent of Finnish grocery shoppers preferred or considered purchasing organic food, mainly motivated by cleaner, healthier and better-quality nutrition. The most regularly consumed organic products among Finns were fruits and berries, vegetables as well as cereal products. The highest share of individuals not intending to add organic food products to their shopping basket were men aged 50 to 64. According to the survey, the likelihood for an individual not to buy organic decreased as the income level increased. In fact, price differences compared to other food and the unavailability of information were the issues most associated with organic food.

While various solutions have been utilized all over the world to adapt to all types of climates and geographies, climate change has created new challenges and opportunities for the heating, ventilation, air conditioning, and refrigeration (HVACR) industry. This is no exception for South Korea. On top of heatwaves, in 2022 the country saw its coldest winter in nearly 50 years. Indeed, this has led to increased demand for energy-efficient systems among households for both heating and cooling to buffer against such temperatures. Companies that produce these appliances, such as LG Electronics, Daewoo Electronics, and Autec Carrier, stand to gain the most from this demand. Heating systems in South Korea. While floor heating seems like a relatively new concept for some, it has existed as a form of temperature control in Korea for thousands of years. The traditional ondol had smoke and heat from an outdoor wooden stove travel underneath the floor of the home before leaving through the chimney. Nowadays, most people live in apartments, having replaced smoke with hot water from boilers. Over half of all housing in the country uses stand-alone gas boilers for heating. Domestic demand for boilers has seen a clear increase, with imports of central heating boilers tripling in the last 10 years. While electric heat pumps are considered more eco-friendly than gas boilers, heat pumps have not been widely adopted as installation is difficult in dense apartment complexes. Cooling and ventilation demand. In contrast to heating are cooling systems that combat the ever-worsening tropical summers that Korea also faces. Large companies, such as LG, manufacture high-quality cooling systems for both home and produce. However, domestic supply has seemingly fallen short of meeting demand with the volume of air conditioners imported more than doubling in the last decade. Refrigerator and freezer imports have also more than tripled during this time. Adding to the heat are mold concerns. With high outdoor humidity and air pollution levels, opening the window is often not an option. As such, air purifiers and dehumidifiers have become common sights in Korean homes. Indeed, imports of air pumps, compressors, and fans have gradually increased in the last decade. Outlook on the HVACR market. In the coming years, new developments will likely make for more efficient HVACR systems. While smart or eco-friendly alternatives still suffer from high installation costs, the demand for air conditioners in Asia and other temperature control systems will likely rise as future extreme weather conditions seem unavoidable. Eco-friendly alternatives will also become more attractive. However, concerns over high power costs for the average household may become a barrier to influencing consumer behavior.

Linde plc is a leading chemical company based in Dublin, Ireland. It was formed in 2018 after the merger of Linde AG (Germany) and Praxair (United States) and in 2024 was the third largest chemical company in the world, based on revenue. Linde: world leader in industrial gases. Linde plc is one of the leading chemical companies worldwide, as well as the leading company in the industrial gas sector, employing over 65 thousand people and generating a revenue of more than 33 billion U.S. dollars. As of February 2025, Linde's market capitalization reached approximately 220 billion U.S. dollars, the highest among the leading chemical companies worldwide. Other companies operating in the industrial gas market include Air Liquide, Shin-Etsu Chemical Co, and Ecolab Inc. The revenue of Air Liquide, a multinational company headquartered in France, amounted to some 27 billion euros in 2024. Which sectors are the most significant? Linde plc operates globally, and is organized geographically across the Americas, EMEA (Europe, Middle East, Africa), and APAC (Asia/South Pacific) regions. In 2024, the Americas was the most significant revenue generating region, accounting for 14.4 billion U.S. dollars in 2024, representing 44 percent of total sales. The chemicals and energy sector, and the manufacturing sector, each accounted for the largest shares of Linde's sales in 2024, at 22 percent each. Linde's primary business is the manufacture and distribution of industrial gases, although the company also operates an engineering division dedicated to the development and construction of industrial plants. Linde’s strong position in the industrial gases market highlights how central the company has become to a range of key industries, from chemicals and energy to manufacturing. With a broad geographic footprint and growing demand for cleaner, more efficient industrial solutions, Linde is well placed to support the transition to more sustainable production across sectors.

Oil was discovered in Nigeria in 1956, with production starting in the late 1950s. In the following decade, oil exploration would open to foreign companies, and with some exceptions due to economic circumstances, the oil industry would grow constantly to become a global giant. In 1977, the Nigerian National Petroleum Company (NNPC) was founded. The aim of the state-owned corporation is to regulate and participate in the country’s oil business. Nigeria is one of Africa’s main oil producers. With 15 operating pipelines and an average daily production of some 1.5 million barrels in 2023, Nigeria is the fifteenth largest oil producer worldwide. Moreover, the petroleum industry accounts for about 5.5 percent of Nigeria’s GDP and for around 92 percent of the value of all exports. Impact of the pandemic on the oil industry. At the beginning of 2021, the average daily oil production in Nigeria stood at 1.7 million barrels. In 2020, the production decreased due to the impact of the coronavirus (COVID-19) pandemic and the subsequent lower demand. According to estimations from April 2020, Nigeria's daily oil production would have reached 2.1 million barrels per day in a scenario without COVID-19. The low demand for oil during the first half of 2020 led to a sharp fall in prices. The biggest drop in gasoline prices was recorded in April 2020, when the average price decreased by ten percent compared to the previous month. Nevertheless, in 2021 gasoline prices increased again, reaching over 160 Naira per liter. Diesel prices in Nigeria dropped by over two percent in May 2020, this being the most significant monthly drop in 2020. As of the beginning of 2021, the price of diesel in Nigeria was over 220 Naira per liter. Leading exporter of oil worldwide. Since the early 1970s, Nigeria has been a member of the Organization of the Petroleum Exporting Countries (OPEC). The organization’s members are mainly from the Middle East and Africa, with Venezuela being the only South American member and founder. OPEC has the purpose to unify and coordinate the oil market. Nigeria is the eighth largest oil exporter in the world in terms of value. The main destination areas of crude oil from Nigeria are Europe and Asia. In the second quarter of 2023, the export value of crude oil to Europe amounted to about 1.48 trillion Naira, while exports to Asia followed with 1.2 trillion Naira. Consequently, exports of oil products other than crude oil recorded the highest value in the Asian and European markets as well. American giants in Nigeria. Most of the largest oil companies operating in Nigeria are from the United States and Europe. For instance, the multinational oil and gas producer, ExxonMobil, produced 123,000 barrels of liquids per day in Nigeria in 2022. Similarly, Chevron, another American oil giant in Nigeria, produced crude oil and natural gas liquids amounting to 107,000 barrels per day in 2022. During the same year, the British-Dutch multinational, Royal Dutch Shell, produced over 27.5 million barrels in Nigeria. The oil industry value generated by foreign companies represents an important source of income for the Nigerian government. In 2023, the Norwegian company, Equinor, paid 176 million U.S. dollars to the Nigerian government for extractive activities, of which the largest amount was derived from host government entitlements. Indeed, despite the oil industry being the main source of income in Nigeria, the wealth generated by oil reaches only a small share of the population.

The construction industry is one of both high-risk and high returns. It often feels the harsh consequences of shocks in related markets, such as in real estate, and is highly sensitive to changes in the global supply chain. The South Korean construction industry is marked by several leaders and a developed construction materials market. However, as living standards have changed over time, so have demands for the types of buildings constructed and the materials required for their construction. Indeed, external factors like climate change and updated environmental safety standards have mandated significant changes in the construction materials market. Construction material cost and supply. Supply chain disruptions from geopolitical tensions as well as a slowing real estate market have slowed orders and increased costs overall. The construction cost index in South Korea has seen a near continuous rise in the last two years, and the domestic supply price index of intermediate construction materials skyrocketed from 2020 to 2023. The main construction materials produced domestically are steel and limestone. However, South Korea's developed chemicals industry has also allowed for the creation of a well-established advanced materials market. This has come to benefit the construction materials market through the production of safer, more durable materials with simpler installation. Advanced materials for construction. Improved safety standards have also increased demand for more advanced construction materials. Fires and carbon monoxide poisoning cases in the past have motivated the switch from gas to electrical stove tops, as well as fire-resistant insulation material for walls. Indeed, South Korean exports of more recent construction materials, such as PVC flooring and fiberglass, have generally increased in the last decade. One such example of improved materials, Gypsum Tex, was developed for more flame-retardant ceiling panels. KCC, as one of the biggest construction material companies domestically, is also the only producer of Gypsum Tex in the country. With the need to renovate older buildings, such as the government’s plan to remove asbestos from ceiling materials in all school buildings by 2027, demand for such materials will likely increase. Outlook on the construction materials industry. As South Korea continues to develop, the rising number of completed construction orders will likely be followed by a growing demand for better construction materials for renovating older, existing buildings. As climate change brings in more extreme weather conditions and natural disasters, materials to withstand such conditions will become more in demand. Further, smart building strategies to reduce waste and eco-friendly materials will gain attention as the construction industry is still responsible for a sizable amount of greenhouse gas emissions. The future of the construction materials industry will likely depend on a combination of these shifting environmental factors and consumer demand.

A diamond is the hardest material on Earth, and has long since been recognized for its beauty as a gemstone. Some 121 million carats of diamonds were estimated to have been produced from mines worldwide in 2022. Major producing countries include Russia, Botswana, Canada, the Democratic Republic of the Congo, and South Africa. Worldwide reserves of diamonds are estimated at 1.7 billion carats. Russia has the largest diamond reserves in the world, estimated at some 860 million carats. The dominant companies and processing structures of the diamond industry. The global diamond mining industry is largely dominated by a handful of companies. The top three companies – Alrosa from Russia, De Beers from Luxembourg, and British-Australian Rio Tinto – account for more than 60 percent of global diamond mine production. Mined diamonds are mostly processed in and sold via the major global diamond centers: Antwerp, Dubai, New York, Hong Kong, Mumbai, and Tel-Aviv. In contrast to precious metals, there is no universal market price per carat for diamonds. Nevertheless, global diamond prices have increased more than tenfold since 1960 to the prices today. Polished diamonds and the value chain. Diamonds increase drastically in value through processing, from production to retail. In 2022, for example, the sales value of rough diamonds amounted to some 17.2 billion U.S. dollars worldwide. After polishing, the value increased by nearly double to 28 billion U.S. dollars. In 2022, the global diamond jewelry market value was approximately 86.5 billion U.S. dollars. Over half of the world's demand for polished diamonds comes from the United States, with a 53 percent share of global demand in 2022. Industrial diamonds: less glamorous but highly utilitarian. Diamonds also have a high industrial value. They are especially well regarded as a material for cutting and grinding tools due to their extreme hardness. Around half of all mined diamonds are not of gemstone quality and are used for industrial purposes. Today, the vast industrial demand for diamonds is mostly satisfied by synthetic diamonds (also known as lab-grown or lab created diamonds). Although, lab-grown diamonds are also increasingly being used in jewelry as an ethical and less expensive alternative to mined diamonds. Due to decreasing production costs and declining retail prices, lab-grown diamond producers are increasingly favoring industrial applications over consumer sales.

Metal mining in the United Kingdom dates back thousands of years, with copper the first metal to be mined in Britain. The largest known bronze age copper mine in the world, the Great Orme site, was discovered in Wales in 1987. Mining at this site began almost 4,000 years ago. Many other ancient mines have been found across Britain, which shows that metal mining on an industrial level started well before the industrial revolution. The copper from these prehistoric mines was mixed with tin extracted in Cornwall to produce bronze weapons and tools. Nowadays, copper is most commonly used in the production of wires and cables. The industry revenue of copper production in the UK is expected to amount to more than half a billion U.S. dollars in 2024. The decline of the UK metal mining industry. Cornwall is a historical mining area and has been exploited for its metal reserves for many years. By the 18th century, Cornwall was the world’s leading producer of copper and tin. In the 19th century, two-thirds of the world's copper supply came from Cornwall. However, metal mining in Britain has decreased significantly since its peak in the 18th and 19th centuries. Although there are still large reserves of metal ores in Britain, it is now more cost-effective to import metals from other countries rather than produce its own. Nowadays, mining in the UK is mainly for energy sources such as oil, gas, and coal. However, much like metal production, coal production in the UK has also plummeted since it’s heyday. The future of metal mining in the UK. Cornwall’s last tin mine closed in 1998, but there have been plans in recent years to reopen these historic sites for the extraction of materials for electronics. Deposits of lithium are also thought be present in these mines, which is a metal used to powers electric vehicles. Tungsten production in the UK recently experienced a surge after Drakelands tungsten mine in Devon was reopened in 2015. Production increased in the following years, making the UK one of the leading tungsten producers worldwide. However, in 2018 the mine was forced to shut down due to financial problems. Legacy of UK metal mines. The metal mining industry has important cultural significance in Britain, specifically in South West England, to the point this regions landscape was given UNESCO world heritage status in 2006. Innovative mining technologies spread from this region to around the world. Conversly, another legacy from the metal mining industry is its negative environmental impact. Many rivers in the UK are polluted with metals such as lead, zinc, copper, and iron, caused by discharges from abandoned metal mines. Recently, new technologies have made it possible to remove 99.5 percent of metals found in rivers through an electrochemical separation technique.

The United Kingdom has a long history in the paper industry, with the world’s first mechanical paper machine installed at the Frogmore Paper Mill in 1803. The paper industry still plays an important role in the UK's economy, employing almost 60,000 people, generating some 12 billion British pounds in revenue each year, and bringing in more than 3.5 billion British pounds of gross value added. And while the UK might not be a major paper producer like China, the United States, or Japan, it was still the 20th largest paper producing country in the world in 2022. Paper production in the UK. UK paper and boards production decreased in 2022, from 3.64 million metric tons in 2021 to a value of 3.46 million metric tons in 2022, of which 1.48 million metric tons was corrugated case materials. Also known as containerboard, corrugated case materials are used in the production of corrugated packaging. The rising demand for paper packaging in recent years has seen case materials production in the UK increase more than 12.6 percent compared to 2010. In comparison, the production of graphics papers has plummeted due to increased digitization. Unlike many other paper-producing countries, the UK lacks large forests. However, its population provides large amounts of recycled paper each year. Because of this, recovered papers account for roughly 70 percent of the UK paper industry’s papermaking raw materials, with woodpulp accounting for a quarter. How much paper does the UK consume? The UK is one of the largest paper consumers in the world. In 2022, the UK consumed 7.2 million metric tons of papers and boards. Packaging is the most consumed paper type in the UK, accounting for almost 60 percent of consumption in 2022. In comparison, printings & writings papers accounted for 19 percent of consumption, and tissue paper products such as toilet paper and hygiene products accounted for 13 percent. UK paper production does not cover domestic demand, so the UK is also heavily reliant on paper imports. In fact, the UK accounted for 4.4 percent of global paper imports in 2022. UK paper imports exceeded domestic production for the first time in 1981.

The construction industry in Brazil has a positive outlook for the next few years. The industry grew significantly in 2023, with the construction gross domestic product (GDP) growing by 2.91. Growth rates were even higher in 2021 and 2022. In addition to this, the Brazilian economy in general has some bright years ahead, with Brazil’s GDP forecast to reach 2.3 trillion Brazilian reals in 2025. Brazil has a small construction industry for a country of its size, and therefore has room for growth. In fact, in 2023, it was the Latin American country with the lowest construction as a share of its GDP, along with Bolivia, far below the regional average. Infrastructure construction on the rise. Building construction was the segment of the construction industry with the highest revenue in Brazil in 2022. Infrastructure construction was not so far behind, considering that there has been some underinvestment in that segment. Satisfaction levels with infrastructure in Brazil were low, with less than half of adults considering roads good or fairly good. Nevertheless, investment in infrastructure has soared in the past years, and it was expected to reach 259 billion Brazilian reals in 2024. Both public and private investment, which made up most of the overall amount, has risen every year since 2022. A significant share of the industry’s revenue went to building materials. Beyond the construction of buildings and infrastructure, a significant share of the construction GDP was generated by other segments in 2023. Services such as design and architecture agencies, along with companies involved in the equipment and machinery industries, generated a small part of that revenue. However, the building materials industry made up most of the revenue that was not directly related to the activity of construction contractors. That involves the firms that manufacture those materials, as well as those that distribute and sell them. In the first seven months of 2023 alone, the production of cement in Brazil amounted to 39.5 million metric tons. The positive outlook for the construction industry as a whole should also have a positive effect on all segments, including the building materials industry.

Russia is the third-largest producer of oil worldwide, accounting for over 12 percent of global crude oil production. Rich in natural resources, the country concentrates its energy production in the West Siberia and Volga-Ural oil and gas provinces. The oil industry was privatized after the collapse of the Soviet Union, but largely moved under government control in the middle of the 2000s. The country's economy is strongly dependent on energy exports. Russia is the fourth-largest oil-exporting region, having supplied eight million barrels daily in 2022. Western dependence on Russian oil. In response to Russia's invasion of Ukraine in February 2022, Western countries sanctioned Russia by restricting imports of its fossil fuels. For instance, the United States completely banned oil imports from Russia, while members of the European Union (EU) prohibited seaborne oil shipments. Before the war, crude oil and refined products were the leading import commodities of the United States from Russia. Overall, Russia used to be the third-leading import origin of petroleum in the United States. Among EU countries, Germany and Poland used to be the largest importers. Since the invasion, China, India, and Turkey have been the main buyers of Russian oil. G7 countries imposed a price cap on Russian crude oil and petroleum products and banned their tankers from transporting Russian oil to third countries if it was sold for the price above the cap. As a result of the restrictions, Russia's share in extra-EU petroleum oil imports decreased from approximately 30 percent in the first quarter of 2022 to less than three percent in the first three months of 2024. Germany has imported no crude oil from Russia in 2024. Oil companies in Russia. Russian oil producers Rosneft and Lukoil are among the leading energy companies in the country. The controlling stake of Rosneft, the major oil producer, belongs to Rosneftegaz, which is fully owned by the Russian government. Rosneft purchased the shares of Yukos, which once was the industry's key player, but went bankrupt. Oil companies in Russia have influence over other industries; for example, Surgutneftegas owns shares in the private holding National Media Group that operates TV channels, film studios, print media, and advertising agencies. Faced with Western import bans and price limits, the Russian oil industry has shifted its exports to non-sanctioning countries. As a result, daily crude oil and refined products' exports did not experience a drastic decline in 2023 and 2024.

Contrary to the expectations that Russia's gas export value would decrease due to lower shipments to Europe and the sanctions over the Russian invasion of Ukraine, Gazprom reported its peak revenue in 2022. Even though the volume of exported gas decreased, higher gas prices contributed to the energy giant's earnings. However, the negative impact of the trade rerouting was reflected in Gazprom's 2023 results, when the company reported a net loss of over 629 billion Russian rubles, the lowest figure in the past two decades. Gazprom company profile. Gazprom is the leading natural gas extractor in Russia and one of the major oil and gas companies worldwide. Furthermore, it owns subsidiaries in finance, media, and aviation. A public joint stock company (PJSC), it is one of the largest businesses in its home country. It supplies gas to domestic consumers and trades it abroad, mostly to Europe and Asia, via pipelines and in its liquefied form (LNG). It holds a monopoly in the Russian pipeline gas export market and is also active in LNG production, oil production, and refining. More than 492,000 employees work for Gazprom, more than for any other oil and gas company. Gazprom's export destinations. In response to the war in Ukraine, European countries largely decreased their imports of gas from Russia, and Germany halted the certification of Nord Stream 2, a gas pipeline with a capacity of 55 billion cubic meters, whose construction was completed. Gazprom suspended deliveries via the pipeline Yamal–Europe running through Poland in May 2022 as well as Nord Stream in September 2022. Thus, it continued supplying gas to Europe via the transit route through Ukraine and via the pipeline TurkStream. Since February 2022, Russia has exported the largest volume of gas to China and Turkey. Power of Siberia, with a capacity of 38 billion cubic meters, enables gas exports from East Siberia to China. However, in 2023, the volume transported via the pipeline amounted to approximately 60 percent of the total capacity. Another pipeline, Power of Siberia 2, is being discussed by the Russian and Chinese governments; however, its construction has not been announced as of June 2024. For Gazprom, Power of Siberia 2 could bring additional export revenue. Gazprom's net loss reported in 2023 highlighted the negative impact of the Russia-Ukraine war and subsequent Western sanctions on the company and the Russian energy sector. As gas exports to Europe have been reduced since 2022, the focus of Gazprom operations has shifted to domestic customers and Asian markets.

The metal mining industry is the backbone of many other infrastructural and goods-related industries. For example, South Korean companies such as Samsung and SK Hynix rely on having certain strategic metals to make semiconductors, an indispensable component of the modern computer. But as demand for advanced computing technology continues to increase, the fight to secure the very resources needed to produce these devices becomes all the more strenuous. As of May 2023, South Korea had less than six and 20 days of lithium and silicon in reserves, respectively. Further, dependence on imports has lacked diversification, with South Korea receiving more than 30 percent of raw material imports for rare metals from China. But now, as China seeks to restrict exports of certain strategic minerals, such as gallium and germanium, South Korea may have no other option but to rethink its critical mineral supply strategy. Which metals can be produced in South Korea? Although not primarily known as a rare metal producer, South Korea has deposits of and produces tungsten, zinc, iron ore, and molybdenum, among other rare metals. The Sangdong mine in the South Korean province of Gangwon is home to one of the largest tungsten deposits in the world and is predicted to have enough tungsten to cover 10 percent of the global supply. The mine had closed in the mid-90s due to cheaper availability from China but is currently reopening. Despite this, resurrecting old mines and improving stockpiles domestically requires expertise and time, making immediate demand hard to meet. As such, companies and institutions alike have also sought to enhance the diversification of import countries and the possibility of resource extraction abroad. Global supply chains for South Korean companies. EV battery companies such as SK On and LG Energy Solutions have raced to secure access to the global supply chain, venturing toward countries like Chile, Australia, Canada, and Indonesia for access to lithium, nickel, and copper supplies. POSCO, one of the largest companies in the South Korean metal mining industry and globally, has successfully established joint ventures and subsidiaries abroad and purchased the rights to mine lithium in Argentina in 2018. Alongside company efforts, the South Korean government has worked to reach agreements with resource-rich countries for joint projects on resource exploration, most recently signing a memorandum with Mongolia earlier this year for rare metal mining.

Primary resources, also known as natural resources, occur naturally and are derived from the environment in order to process them. Apart from resources such as water, air, sunlight, forest area or agricultural land, which exist as separate entities, other resources such as metals ores and fossil fuels have to be extracted from the soil to make them usable. Their value is predominantly determined by the relative scarcity of the resource in combination with its exploitability for industrial use. In modern industry, most natural resources are used as raw materials from which upstream materials and finished products are produced. As primary resources for energy and industrial production, they are a vital requirement of any economic activity. China's natural resources. With a total surface area of approximately 9.6 million square kilometers, China has abundant land resources and possesses strategic shares in various mineral resources. Due to its geologic preconditions, China has proved reserves of nearly all major minerals. As of 2023, proven reserves of iron ore in China had amounted to almost 17 billion tons. But due to the low quality of its iron ore reserves, the demand of iron ore in China still heavily relies on iron ore imports. The domestic economy in China is largely based on energy-intensive heavy industrial production. In order to maintain its growth momentum, the country has subsequently increased its primary energy production to over nearly five billion tons of coal equivalent as of 2024. China’s north-western regions such as Inner Mongolia and Xinjiang, the so-called Chinese coal belt, not only produce huge amount of coal but also petroleum and natural gas. China invests billions yuan in geological exploration of resources every year, predominantly oil and gas. Among non-fossil resources, uranium and gold received the highest investment for geological exploration, around a billion yuan annually. Rare earths in China. China has the biggest reserve of rare earths in the world. Rare earths have received heightened attention from international industries due to their applicability in different industries, among them the production of LED monitors, batteries and illuminants. In order to avoid over-exploitation, Chinese government had set strict export limits for rare earths exports since 2009, which led to a significant decrease in rare earths exports from over 50,000 tons in 2009 to about 30,000 tons right after. However, export quotas were scrapped after China lost a World Trade Organization case brought by its trading partners over controls that alarmed global technology producers. In the last few years, the rare earths exports of China have increased to around 55,400 tons in 2024.

Rubber has become a staple of most developed nations, being a versatile material for both commercial and industrial uses. While natural rubber is not produced in South Korea, this has not stopped the country from becoming one of the largest rubber exporters in the world. Home to globally recognizable petrochemical brands such as LG Chem, South Korea has made great strides to more than compensate for its lack of natural sources of rubber and other advanced materials. The reliable production of synthetic rubber from petroleum raw materials has led to South Korean companies establishing themselves in the global rubber market. Global synthetic rubber market. Just behind China and the United States in global synthetic rubber production, South Korea's dominance in the global rubber market is palpable. The country imports virtually all its natural rubber needs, mainly from Southeast Asian countries such as Indonesia and Thailand. However, with rubber trees vulnerable to climate change and ecological damage, the supply of natural rubber has become harder to come by. As such, South Korea covers most of its domestic demand for rubber with synthetic rubber and exports this heavily to other countries. China and Malaysia were top export destinations for much of South Korea's synthetic rubber items. Major players in the South Korean rubber industry. Indeed, most rubber manufacturing companies in South Korea rely on exports for most of their sales. One of the largest rubber manufacturers in South Korea is Kumho Petrochemicals Co., Ltd., known for its production of nitrile-butadiene latex used in the manufacturing of medical gloves. Other notable names in the country's rubber industry, particularly in tire manufacturing, are Hankook Tire, Kumho Tire, and Nexen Tire. While some of these have become household names in the global rubber industry, their current dominance does not stand unchallenged. For this export-driven industry, there are fears of rising ocean freight rates in the global logistics industry alongside demands for higher wages and rising costs of production domestically. Forecast for South Korea’s rubber industry. Profits from rubber manufacturing have seen a decline in the past years. While offshore labor and production may provide a financial buffer for these manufacturers, this is only a temporary solution. Concerns over deforestation and ecosystem disruption associated with the cultivation of natural rubber may potentially provide a renewed opportunity for the synthetic rubber industry. With South Korea's knowledge and experience in chemical engineering, hopes of staying ahead in an evolving market for raw materials through improved methods of processing are high.

Italy is one of the largest chemical markets worldwide. The country was among the 10 leading European economies in the chemical industry in 2023, with a revenue of approximately 67 billion euros. Apart from being one of the main chemical producers, Italy also ranked as one of the major chemical exporters worldwide and had one of the largest numbers of employees in the chemical sector that year. Structure of the chemical industry in Italy. Italy’s chemical industry is concentrated in the northern part of the country, close to Italian end-use industries and downstream chemical markets in Europe. In particular, the region of Lombardy has the highest concentration of chemical companies in the country and is one of the leading chemical manufacturing regions in Europe. Chemical production in Italy is widespread across a number of foreign multinationals, Italian medium and large companies, and local small and medium-sized enterprises (SMEs). SMEs are an important part of the chemical landscape in Italy, accounting for over 40 percent of the country’s chemical production. In total, Italy is home to some 3,900 enterprises dedicated to manufacturing chemicals. Regarding the different branches of the chemical industry, Italy stands out in the production of plastics and rubbers and specialty and consumer chemicals such as paints, coatings, adhesives, cosmetics, and detergents. Italy's leading chemical companies. With a revenue of over four billion euros in 2023, Versalis ranked as the leading chemical company in Italy that year. Versalis is a subsidiary of the multinational oil and gas company Eni and is dedicated to the production of petrochemical products. Ranking second and third were Mapei and Bracco with revenues of 4.2 and 1.9 billion euros, respectively. Mapei is a chemical company dedicated to the production of adhesives, sealants, and construction chemicals, whereas Bracco is a chemical-pharmaceutical leader in the development of medical substances to improve the accuracy of biomedical imaging. Petrochemical company Versalis also had the largest number of employees in Italy of any chemical company. Italian multinational Mapei, however, had the largest number of global employees of any Italy-headquartered chemical company, with roughly 12,700 people. Technological innovation and sustainability are important for the growth of this leading sector of the Italian economy, both on the domestic and international markets. In 2023, the chemical industry was the country’s manufacturing sector with the highest involvement in the green transition, as most of its enterprises were committed to funding green technologies for their production processes.

The Indian pesticide market is crucial to the success of the country's agricultural industry. The main purpose of using pesticides is to safeguard crops from various threats, such as pests, diseases, and weeds that can harm or ruin them. Nevertheless, due to their toxicity, chemical pesticides still represent a concern for both human health and the environment. India's pesticide regulation landscape is evolving, with 46 pesticides banned or phased out as of 2023. This shift reflects a growing emphasis on safer agricultural practices and environmental protection. In 2016, Sikkim became India's first fully organic state, with many other states encouraging farmers to implement organic practices. Pesticide usage in Indian agriculture. In 2023, a substantial 108.2 million hectares of cultivated land utilized chemical pesticides, while biopesticides were effectively applied to 15.6 million hectares. The push towards safer pesticide alternatives is evident in India's increasing consumption of biopesticides. Biopesticides are pesticides that are made from natural sources, such as animals, plants, bacteria, and certain minerals, in order to control pests. Despite this progress, the use of chemical pesticides still dominates certain agricultural commodities, particularly in cereal production, where over 17,000 metric tons were used in the same year. The country's pesticide production reached 258,000 metric tons in 2023, with Mancozab being the most produced pesticide at 83,620 metric tons. In 2023, the consumption volume of pesticides reached nearly 53.63 thousand metric tons, with the highest consumption occurring in the northern state of Uttar Pradesh. However, the consumption of pesticides is significantly lower than in other nations. As in the global market, herbicides hold the largest share of the pesticides market in India. International pesticide trade. India's pesticide industry also plays a significant role in international trade. As a net exporter of pesticides, the country exported nearly 539,000 metric tons of pesticides in 2024, while importing just 62,000 metric tons. However, compared to the previous year, the export volume of pesticides decreased by nearly 50 percent in 2024. As India balances its role as a major pesticide exporter with evolving domestic agricultural practices, the sector's future promises both challenges and opportunities.

Vietnam’s construction industry has been the best performing in the Asia Pacific region, having had the highest revenue growth rate in recent years. As an important pillar of the Vietnamese economy, the construction sector accounted for an increasing contribution to the gross domestic product while being one of the largest employers in Vietnam. At the same time, it has been among the industries that attracted the most foreign direct investment (FDI) in the past years. Despite the impact of the COVID-19 pandemic, this sector is forecast to continue growing alongside Vietnam’s rapid economic expansion. Industrial construction growth alongside Vietnam’s blooming manufacturing sector. Manufacturing has become the backbone of Vietnam’s export-oriented economy in the past decade. This development of the manufacturing sector has come with the need for more production facilities, and consequently, constant growth in industrial construction projects and investments. In the first eight months of 2021, there were over 1150 industrial construction projects in all implementation stages in Vietnam, which were responsible for a total investment value of over 87 billion U.S. dollars. While domestic direct investments, including state investments, have been instrumental to these projects, FDIs have been playing an increasingly significant role in industrial constructions, together with foreign investment flows into manufacturing. FDI in the construction sector was highest in northern Vietnam, with a focus on production facilities for crucial export products such as electronics, electrical equipment, and textiles. Domestic investments, meanwhile, were the most dominant sources of investment in other regions in Vietnam, where projects aiming at both external and domestic consumption, namely energy, pharmaceuticals, and agriculture received the most attention. COVID-19 impacts and the outlook of the construction sector in Vietnam. Similar to other industries, the Vietnamese construction sector has not been spared by the COVID-19 pandemic. The government imposed several strict lockdowns across the country during COVID-19 outbreaks, resulting in the delays of many projects due to the unavailability of workers and construction materials. Despite losing momentum to the pandemic, this industry in Vietnam is predicted to continue to grow steadily in years to come. The growth of this sector can largely be attributed to the government’s commitment to improving the overall infrastructure in the country. This includes ongoing investments in non-residential segments, such as national strategic projects in transport infrastructure or tourism infrastructure. In addition, Vietnam’s high urbanization rate is forecast to create rising demand for residential projects, especially for affordable housing supply.

Glass is a (usually) transparent, non-crystalline amorphous solid that has many important applications in a variety of industries worldwide. Today, glass is known for its extensive use in windows and bottles. The most common types of glass are made primarily with soda ash and silica, as well as other additives. Recycled glass is also often used in the production of new glass. Glass manufacturing and emissions. There are two main methods of producing glass. The first is the float glass process that is used to manufacture architectural glass, and the second is the glassblowing process that produces containers such as bottles and jars. The float glass process, also known as the Pilkington process, was developed by Sir Pilkington in 1952, and involves feeding a ribbon of molten glass from a furnace onto a bath of molten tin. This process produces a sheet of glass with a uniform thickness and a very smooth surface, which can be used to make windows and any other applications requiring flat sheets of glass. China is by far the largest exporter of float glass, accounting for a 13 percent share of the global export value in 2023. In 2024, the production volume of glass bottles and containers amounted to an estimated 830 billion units worldwide. Due to the extremely high temperatures required to produce glass, glass manufacturing overall has a high carbon footprint. In 2022, the global carbon dioxide emissions from glass manufacturing amounted to 95 million metric tons. Recycled glass market. The recycled glass industry is continuously growing. As an infinitely recyclable, reusable, and more sustainable alternative to plastic packaging, glass is regaining some of its popularity in the packaging world, especially as many countries have placed bans and limitations on plastic packaging in recent years. In 2024, the global recycled glass market was valued at 4.27 billion U.S. dollars. Europe accounted for the largest market share of recycled glass that year. The growth of the glass industry can be largely attributed to its popularity as a sustainable packaging solution.

Russia holds the second-largest mine gold reserves worldwide. As of 2023, the mine reserves stood at over 11,000 metric tons, only lower than Australia's. Furthermore, Russia produced the third-largest volume of gold after China and Australia, measuring at over 300 metric tons. Russia's gold mining industry is mainly located in the Siberian and the Far Eastern Federal Districts. The major producing regions are the Krasnoyarsk Krai and the Magadan Oblast. Gold mining companies. The leading producer of gold in Russia is Polyus, a public joint-stock company (PJSC) founded in 2006. Four out of five largest gold mines in Russia, including the one with the highest production volume, Olimpiada, are operated by Polyus. In 2023, the company's revenue peaked at over 5.4 billion U.S. dollars. Solidcore Resources, formerly Polymetal International, another major producer, changed its headquarters from Jersey to Kazakhstan in 2023 and sold its Russian assets, now Polymetal, to Mangazeya Plus in 2024. While folding up its presence on the Russian market in response to the war in Ukraine, Kinross Gold sold the mine complex to Highland Gold Mining, a UK-based company focusing on operations in Russia. Russian gold import ban. A ban on gold imports from Russia was a part of the Western sanctions over the Russian invasion of Ukraine in 2022. G7 countries (Canada, France, Germany, Italy, Japan, the UK, and the U.S.) prohibited them in June 2022. The reasoning behind the ban was the significant role of gold as an income source in Russia's budget, as the country is one of the largest gold exporters worldwide. Apart from the import ban, restrictions were imposed on major companies like Polyus, Kinross, Petropavlovsk, Nord Gold, and others. Metals are the second-leading export commodity of Russia after mineral products. Furthermore, sanctions targeting the gold industry could harm Russian banks and wealthy individuals. Sales to Hong Kong contributed the most to Russia's gold export revenue, at around 5.2 billion U.S. dollars in 2023. Faced with the sanctions, Russia expanded its gold exports to Kazakhstan as well as other non-Western countries. In spite of the sanctions, the Russian gold mining sector continues to be a major contributor to the country's economy. The production volume of gold has not significantly decreased in 2022 and 2023, and the Russian Central Bank's gold holdings have remained stable in recent quarters.

Construction is one of the leading economic sectors in the Gulf Cooperation Council (GCC) region. The GCC has a substantial backlog of projects, including developments in transportation, electricity, water infrastructure, new residential and commercial construction, hospitality projects, and major industrial projects. Construction projects in the GCC. The majority of construction investments in the GCC region were in the establishment of buildings, followed by energy and infrastructure projects. By mid-2022, Saudi Arabia was leading the Middle East and North Africa (MENA) region’s investments in the construction sector. The first phase of Saudi Arabia’s mega project Neom was worth 500 billion U.S. dollars and was expected to be completed by 2025. Recent major construction projects in the GCC region executed in the United Arab Emirates (UAE) included the Etihad Rail projects and the Gasoline and Aromatics project. Through the work of those construction projects, the UAE has emerged as an important player in the global construction industry. Construction material and labor. Saudi Arabia is one of the leading cement producers worldwide. While Saudi Arabia is a valuable contributor to cement exports worldwide, cement is a significant component of the kingdom's construction industry and is mainly supplied for domestic use. Apart from Saudi Arabia, Qatar is another considerable producer of cement in the region. Construction is an important employment sector for the local, foreign, and expatriate workforce. The construction sector accounted for one of the top three in the share of employees in the MENA region. The region's governments use construction projects to curb their country's economic performance to increase employment and foreign investments.

Canada is the world's fourth largest oil-producing country. The oil industry in Canada has direct operations in seven of Canada's thirteen provinces and territories, including offshore. Since the 1990s, oil production has more than doubled in Canada, largely because of oil sands discoveries in the northwest of Alberta. Alberta’s role in Canada’s oil industry. Alberta is unquestionably the centerpiece for Canada's oil industry. Its dominance is evidenced by the huge amounts of oil produced, largely in the form of heavy oil and upgraded bitumen (synthetic crude oil) won from oil sands. Alberta produces nearly ten times as much oil as the second largest producing province. It may thus come as no surprise that all major industry players are headquartered in Alberta’s capital, Calgary. This includes Cenovus Energy, often ranking as Canada’s largest oil and gas company by revenues. Oil trading and economic impact. The United States is Canada’s most important trading partner for crude oil. The number of oil refineries in Canada stands at 16(including asphalt), only a fraction of the number of oil refineries in the U.S., meaning much of the oil produced in Canada is processed abroad. Gasoline and diesel are the most produced oil products in Canada, accounting for more than two thirds of the total refinery output. Oil sales bring in billions of Canadian dollars every year. The oil sands extraction industry ‘s GDP stands at nearly 40 billion Canadian dollars, which is equal to approximately 1.7 percent of Canada’s total economic contributions. Together with conventional extraction, the oil and gas industry is responsible for more than three percent of total GDP.

The global chemical industry is vast and diverse, comprising thousands of companies operating across various sectors. However, a select group of major players dominates the market in terms of scale, innovation, and revenue. These leading companies consistently rank at the top of the global chemical industry. Germany has long been a powerhouse in chemical production, accounting for more than 10 percent of global chemical exports. As such, it is fitting that BASF, a German multinational, is recognized as the largest chemical company in the world based on revenue. Joining BASF in the top five are LyondellBasell, headquartered in the United States; Linde, an Irish-based multinational known for industrial gases; Hengli Petrochemical, representing China's growing influence in the industry; and Japan’s Mitsubishi Chemical Group, another key player in the Asian chemical sector. Revenue comparison of the leading chemical companies. In 2024, BASF remained the world’s largest chemical company, headquartered in Ludwigshafen, Germany, with a total revenue of approximately 65.3 billion euros, down over five percent from the previous year. Operating across seven segments, BASF’s materials segment alone accounted for about 20.7 percent of total revenue. LyondellBasell Industries, headquartered in Houston, Texas, generated around 40 billion U.S. dollars in revenue in 2024, with its highest-earning segment, Olefins and Polyolefins, contributing 26.76 billion U.S. dollars. Formed in 2007 through the acquisition of Lyondell Chemical Company by Basell Polyolefins, LyondellBasell is now one of the largest chemical producers globally. Linde plc, the world’s leading industrial gas company, was formed on October 31, 2018, through a merger of equals between Germany’s Linde AG and U.S.-based Praxair Inc. In 2024, Linde recorded 33 billion U.S. dollars in revenue, with the Americas region contributing the largest share at 44 percent, followed by the Europe, Middle East, and Asia segment at 25 percent. Chemical industry employment. Among all global chemical companies, BASF had the largest workforce in 2024, employing approximately 111,822 people worldwide. Although this was an increase from the previous year, it remained below its peak employment of 122,000 in 2022. Linde plc ranked next with around 65,289 employees globally, reflecting a significant reduction from 89,000 workers in 2018, when the company was formed through the merger of Linde AG and Praxair Inc. LyondellBasell had a smaller workforce of about 20,000 employees, but this represented the highest headcount since its founding in 2007. These figures illustrate the scale and employment impact of these top players within the global chemical industry.

The Democratic Republic of the Congo (DR Congo) maintains its position as a major contributor to the global mining industry. The extractive industry accounts for more than half of the country’s GDP, which is around 31.6 trillion Congolese francs, roughly 10.9 billion U.S. dollars. This signifies the heavy dependence of the country on mining. Cobalt is one of the key minerals in the country. In 2024, the country held six million metric tons in cobalt reserves, more than three times higher than Australia, the second-largest country in global cobalt holdings. In the same year, it produced nearly 76 percent of the world’s cobalt. As the demand for cobalt continues to rise globally, driven by its use in lithium-ion batteries for electric vehicles and electronic devices, the country's vast reserves play a crucial role in meeting these needs. Additionally, its mineral wealth extends beyond cobalt to include substantial reserves and production in copper, diamond, and other non-ferrous, ferro-alloy, and precious metals. Minerals and hydrocarbons dominate export trade. Minerals and hydrocarbons represent the largest categories of goods exported from the DR Congo, reaching a share of 99.6 percent of the country’s total goods exports in 2023. In fact, the volume of copper exports from the country has soared in recent years, aligning with a broader trend of increasing quantities of mineral exports from the country. Similarly, cobalt exports have followed a gradually increasing trend since 2020, more than doubling in 2024. Beyond copper and cobalt, the DR Congo has also experienced growth in other extracted mineral exports such as tin ore, zinc, tantalum, and tungsten ore. Additional to the trade in minerals are crude oil exports, which reached over 7.5 million barrels in 2022. This diversification of mineral and hydrocarbon exports suggests a broadening of the country's mining sector and potential for further economic growth. Overall, mineral and hydrocarbon exports are key to the nation’s economic expansion, specifically with copper, cobalt, gold, crude oil, and diamond contributing the highest to the value of goods exports from the country, respectively. Challenging mining environment. The dominance of mineral production in the DR Congo stems from the country’s extensive mining industry, which, according to ONEM DRC, employed over 26,600 people, this was significantly lower compared to the previous year. However, the sector is confronted with significant challenges such as hazardous working conditions and child labor issues, particularly in small-scale and artisanal mining operations. Furthermore, despite these vast mineral resources, the country continues to face crime, armed conflict, poverty, and corruption, highlighting the complex challenges associated with resource wealth. As of 2023, non-renewable resource crimes was the most predominant type of crime in the nation. These include illegal mineral resource trade, extraction, and smuggling. Nonetheless, some regulatory measures have been put in place to improve the allocation of mining revenues between mining companies and the state. The 2018 new Mining Code, for instance, primarily aims at maximizing the economic benefits from the DR Congo’s rich mineral resources. This would improve governance in the sector and ensure that both the government and local communities benefit from mining activities, while also promoting environmental sustainability. Despite the complexities of the challenging mining context, the steady rise in mineral and hydrocarbon production and exports underpins the sector's resilience and its potential to support long-term economic development in the DR Congo. However, this highlights the need for cross-industry investment in the country to avoid overdependency on minerals and ensure sustainable economic growth.

Ghana was the sixth-largest producer of manganese in the world as of 2021. The production volume of the metal reached 3.3 million metric tons that year. The country is also a leading mineral producer in Africa. Gold, aluminum, bauxite, and mineral fuels are some of its other notable resources. The growing demand for mineral extracts has been paralleled by an expansion of the economically active population in Ghana, in that, around 11.3 thousand people were employed in the mining industry in 2022, and more than 34 thousand employees in 2020. Booming gold production. Tarkwa mine is not only a leading gold mine in Ghana in terms of its production volume, but also one of the largest in Africa. Over the last decade, the production of gold has generally been rising. Between 2019 and 2020, AngloGold Ashanti's Obuasi gold mine had ore reserves of nearly nine million ounces, and mineral resources reached over 29 million ounces. At the national level, more than eight metric tons of the precious metal were reported as official reserves. In the whole of Africa, the volume of gold produced each year puts the region in the spotlight, along with the Americas and Asia. Export trade in minerals. Not only does Ghana produce large volumes of minerals, but it also engages in the export of the latter. The amount of gold exported in 2021 reached 5.3 billion U.S. dollars. In 2019, it stood at 10.9 billion U.S. dollars, which was the highest value reported since 2010. Also, as a large exporter of manganese ore, the country has traded the metal over the years. Petroleum and natural gas are the main exported mineral fuels. Even with the reduction in Ghana's crude oil prices in recent years, the quantity of oil exported generally increased. Overall, mineral fuels and distillation products occupy a greater portion of goods exported. Government benefits from mining. Despite the falling share of mineral rents in terms of Gross Domestic Product (GDP), the mining industry has made major contributions to Ghana's revenue. Government income from manganese reached roughly 201.4 million U.S. dollars in 2022. In addition, revenue from gold and bauxite amounted to around 7.2 billion and 38 million U.S. dollars, respectively. Overall, the coronavirus (COVID-19) pandemic has had diverse effects on mining in Ghana. Transactions made with other countries of the world have achieved lower values since the onset of the outbreak. For instance, returns on oil trade have decreased. Nonetheless, the mineral-rich West African country attracted investment inflows reaching more than one billion U.S. dollars in 2020.

The chemical industry is one of the largest and most important industries worldwide, and United States is one of the largest national producers of chemical products globally. Including the pharmaceutical sector, its chemical shipments value was almost 909.8 billion U.S. dollars in 2022. The value added by U.S. chemistry in 2023 amounted to over 513.2 billion U.S. dollars. U.S. chemical companies: dynamic and competitive. Chemical companies from the United States are among the industry’s leading global players. With a revenue of almost 44.6 billion U.S. dollars in 2023, Dow is the largest U.S. chemical company, and the world’s second largest behind German chemical company BASF. Other leading U.S. chemical companies are LyondellBasell, and DuPont. In 2016, several of the leading global chemical companies announced mergers, effectively changing the dynamics of the global chemical industry. One of the most famous mergers that happened at that time was the Dow Chemical and DuPont merger, which was cleared by European regulators in March 2017. Following the finalization of the merger in September 2017, the new conglomerate DowDuPont existed as a single entity until April 2019, when it separated into three companies: Dow, DuPont, and agricultural chemistry company Corteva. The U.S. chemical industry's economic contributions. With the exception of Germany, the U.S. is the world’s largest exporter of chemical goods. In 2022, U.S. chemical exports were worth some 260 billion U.S. dollars. The leading countries of destination for U.S. chemical exports were Mexico, Canada, and China. However, U.S. demand for chemical imports is also large. In 2022, these imports were worth around 330.07 billion U.S. dollars. The chemical industry is an important employer. Approximately 555 thousand people work at U.S. chemical companies, excluding the pharmaceutical sector. This number is distinctly lower than in the early 2000s, when over 600 thousand employees were reported. The U.S. chemical industry spends relevant amounts for research and development. In 2022, more than 13.4 billion U.S. dollars were spent for R&D purposes in the chemical industry. R&D funds have remained fairly stable over the last decade. Accordingly, the United States is the global leader in developing new chemical and pharmaceutical entities.

With a revenue of over 33 billion U.S. dollars in 2023, Mitsubishi Chemical ranks among the leading chemical companies worldwide. It also remains by far the largest chemical company by total assets in Japan. Mitsubishi Chemical Group Corporation is based in Tokyo and has several subsidiaries. The chemical company was formed in 2005 from the merger of Mitsubishi Chemical Corporation and Mitsubishi Tanabe Pharma Corporation. Mitsubishi Chemical Group Corporation. The product range of Mitsubishi Chemical is highly diverse and covers the segments of performance products, industrial materials, and health care. Main products include chemicals, plastic film and sheets, electronics such as displays and batteries, fibers and textiles, agricultural chemicals, pharmaceutical products, polymers as well as other inorganic chemical products and pharmaceutical products. In the fiscal year 2022, chemicals made up the segment with the largest revenue of the company, amounting to over 1.4 trillion Japanese yen. In recent years, Mitsubishi Chemical started several initiatives to support a range of Sustainable Development Goals. To support the reduction of greenhouse gas emissions, the company develops EV battery materials and lighter automotive bodies. Furthermore, it works on biodegradable polymers and other sustainable packaging materials and develops sustainable materials for displays and other electronics. Chemical industry in Japan. The Japanese chemical industry remains the fourth largest worldwide, following China, the United States, and Germany. In Japan, the industry is dominated by few major companies, which are usually highly diversified and often form alliances with other companies. Since other industries such as the transportation machinery industry and the automotive industry are dependent on materials provided by the chemical industry, it represents one of the most important and largest manufacturing industries in Japan. The overall sales value of the chemical industry increased in recent years, indicating the continuous expansion of the industry. In recent years, plastic materials were the most exported chemical products, while medical products had the largest import value. Due to the continued demand for pharmaceutical products from the aging population, Japan was expected to remain one of the most important markets for foreign pharmaceutical companies.

Being home to the second largest iron reserves in the world, the fourth largest bauxite reserves, and the seventh largest gold reserves, the bedrock of Brazil’s prominent mineral industry is mainly metallic ores. While the country’s mining industry dates back to the quest for gold in colonial times and was one of the main contributors to inland territorial occupation, its historic economic importance is still very much present to date. Mineral mining production in Brazil reached 41 billion U.S. dollars in 2020 and generated over 170 thousand direct jobs. Throughout the years, the sector has become imperative to the growth of the local economy, especially in the states of Pará and Minas Gerais. A rusty red iron ore kingdom. Despite its diverse wealth of resources, iron ore is undoubtedly the backbone of Brazil’s mining success. In 2019, iron exports alone made up double the value of all other metal exports from Brazil combined. In the following year, the South American country contributed with approximately one fifth of the global iron ore output. The history behind this metal’s predominance is tightly connected to that of Brazilian multinational mining company, Vale. The company – whose operations originally concentrated in the state of Minas Gerais – is also the sole proprietor of the Carajás mine, the largest iron mine in the world, located in the northern state of Pará. Overall, it contributes with more than 300 million metric tons of iron ore, annually. Ultimately, this ties into Vale’s overarching margin as the leading mining and metallurgical company in Brazil and one of the greatest iron producers in the world. Minas Gerais, a land of riches. Aside from the prominence of the Carajás mine in Pará, Minas Gerais follows closely as the second largest iron ore producing state in the country, making up roughly half of the national iron ore production. In fact, this state’s fertile resource environment is what first warranted its name back in the early 1700’s, which translates from Portuguese to “general mines”. Centuries following the discovery of gold in the region, the state still leads in this precious metal’s production, as well as in the Brazilian production of zinc and niobium. In turn, Minas Gerais has been the attraction of many mining and metallurgical companies in the country, such as Vale, CBMM, ArcelorMittal Brasil, and Usiminas, living up to its name until this day.

OPEC is responsible for more than 36 percent of worldwide crude oil production. The Organization of the Petroleum Exporting Countries (OPEC) is an assembly of oil-producing countries which was established in the 1960s with the aim to take greater control over oil pricing. The initial five member states were Ian, Iraq, Kuwait, Saudi Arabia, and Venezuela. Today, OPEC's membership encompasses 12 countries in total and its decisions on production cuts regularly impact global oil benchmarks. OPEC’s role in the world’s oil and gas industry. At its founding, OPEC comprised the largest oil producers in the world. In recent years, however, political instability in some member states in addition to the emergence of new drilling technologies has buoyed the output of countries like the United States and Canada. This has led to a decrease in OPEC’s share in worldwide oil production. Nevertheless, OPEC still owns roughly four-fifths of global crude oil reserves. Given the high dependence of the world economy on oil and gas, OPEC’s influence on the world market has been significant. OPEC also regularly collaborates with 10 additional oil producing countries, among them Russia and Mexico, that are collectively known as OPEC+. In 2023, oil production in OPEC countries stood at some 32.8 million barrels per day. Saudi Arabia is by far the largest producer and also leading the list of global oil exports of OPEC countries. What makes up the OPEC basket? OPEC’s benchmark for oil prices is the so-called OPEC Reference Basket (ORB). It is an average price of different oil blends, one from each OPEC member state. Among the better-known blends are Arab Light from Saudi Arabia, Murban from the United Arab Emirates, and Bonny Light from Nigeria. The OPEC oil price has been particularly volatile in the past decade, as it was affected by an oil glut brought about by surging U.S. oil extraction, a pandemic-induced demand slump, and supply constraints related to the Russia-Ukraine war. Change in OPEC membership. In recent years, OPEC's membership has changed somewhat, with Ecuador formally leaving the organization in early 2020. In January 2019, Qatar, one of the oldest members and among the world’s leading LNG exporters, left OPEC. Before that, Indonesia left OPEC in November 2016 after having rejoined OPEC earlier that year following an absence since 2009. On the other hand, Gabon rejoined OPEC in July 2016 after having previously left OPEC in January 1995, while Equatorial Guinea and the Republic of the Congo joined in 2017 and 2018, respectively. Most recently, Angola decided to withdraw its membership in early 2024.

The paper industry includes companies that use wood as a raw material to manufacture pulp, paper, and paperboard. Even in the age of digitalization, paper continues to represent an important material, which is used daily for many purposes. In Japan, the majority of manufactured paper was used for printing and communication, newsprint, sanitary tissue as well as packaging and wrapping materials.  Paper industry in Japan. Japan remained the third-largest producer of paper worldwide, following China and the United States. Even though both its paper production and consumption volume declined continuously throughout the past decade, Japan remained one of the largest consumers of paper and paperboard. Especially the consumption of printing and writing papers is expected to further decline, likely due to the digitalization of such products. On the other hand, many Japanese companies started to turn to paper products to reduce plastic waste. In recent years, paper and paperboard products made up the majority of shipments of packaging materials in Japan. The demand for paper packaging is expected to continue to grow since paper is seen as more sustainable than plastic. Japan mainly traded paper with neighboring Asian countries such as China. Nevertheless, the Japanese paper industry focused on domestic production and mostly imported raw materials such as pulpwood, which is necessary for paper production. Even though Japan is a vastly forested country, many areas are too mountainous and therefore not accessible to produce wood itself.  Environmental impact and paper recycling. Paper production has a major environmental impact as it contributes to air, water, and land pollution. Trees are cut down to provide raw material, and paper mills produce emissions as a result of energy consumption and consume large amounts of water in the production process. Finally, wastepaper makes up a large amount of municipal waste in Japan. In recent years, there have been changes in the behavior of both businesses and consumers as environmental issues such as pollution and climate change gained importance. To reduce waste and effectively use resources, the paper industry established a system of recycling wastepaper by using it as a raw material to produce new paper products. Since paper is made from wood, it is defined as a renewable resource and its recovery is crucial. Amounting to over 81 percent in recent years, paper had one of the highest recycling rates in Japan.

India, one of the richest countries for metallic and non-metallic mineral resources, has had mining at the heart of its economy for centuries. Home to some of the largest mining companies in the world, this industry continues to be a cornerstone of the Indian economy, powering industries ranging from construction and infrastructure to manufacturing and technology. Indian multinational companies rank highly among some of the top mining companies in the world based on revenue. A mining maverick and a large conglomerate. JWS Steel, a relatively new entrant into the Indian mining landscape, has rapidly established itself as a force to be reckoned with. With control over 13 operational captive iron-ore mines and over 13,000 employees in the workforce, JWS has secured a significant portion of its raw material supply chain. Beyond its domestic operations, JWS Steel has also demonstrated a global ambition with its expansion plans, which include international ventures targeting regions with abundant iron ore resources. This strategic approach from JWS positions itself as a potential player in the global mining industry. Tata Steel, a household name in India, has been a pioneer in the country's mining sector for almost a century. Tata Steel Limited has an extensive network of mines across India and Canada and shows a secure supply chain of raw materials, including coal, which is crucial for the production of steel from iron ore. Tata has a strong brand equity with a focus on sustainability and social responsibility as a corporate entity, with heavy investments in research and development to minimize its environmental impact and promote responsible mining. Public vs. private mining companies in India. The majority of India's mines are owned by private corporations that hold top market positions in their respective manufacturing sectors. Steel Authority of India Limited is the only government-owned enterprise among the top five industrial metals and mining companies by revenue. In fiscal year 2024, the revenue from operations of Steel Authority of India Limited (SAIL) was over 1.05 trillion Indian rupees. In contrast, Vedanta Limited, the only privately owned company among market leaders with a highly diversified portfolio of natural resource extraction, reported a combined revenue of 1.42 trillion Indian rupees in fiscal year 2024. The company mainly mines zinc, lead and silver, aluminum, and iron ore. Conversely, other market leaders are only focused on a single type of mineral extraction, especially iron ore. A bright future for India's mining industry. The country's mineral-rich lands, coupled with increasing demand for raw materials, provides the Indian mining industry with a big opportunity for both domestic and international trade. JWS Steel and Tata Steel Limited, with their strategic investments and global presence, are well positioned to capitalize on this growth. As India continues to play a crucial role in the global economy, the mining industry will undoubtedly remain a cornerstone of its development.

Worldwide oil rig numbers have been net declining since 2014, when the oil boom led to a spike in rig deployment not seen since 1985. In 2024, the average number of active oil rigs was 1,734 units, roughly half of what it had been in 2014. The oil rig industry is part of the oilfield equipment and service sector. Oil rigs or oil platforms refer to the machinery used to identify reservoirs and extract crude oil and natural gas from the earth’s surface or seabed. While rigs used to be stationary in the past, today, mobile offshore production units have become more and more common. The global oil rig fleet is largely made up of jackups, a type of mobile rig. Oil rig deployment across regions. North America is the region with the largest number of drillings. It also hosts the most land drilling operations, while Asia Pacific sees the most offshore drilling activity. Overall, there are nearly seven times more land drilling rigs than offshore rigs. In terms of different environments for offshore drilling, deepwater locations off the coast of Brazil and Guyana have been especially promising and are expected to see the greatest capital investment until the end of the decade. Since early 2024, the average offshore rig utilization rate has fallen by around four percent as the oil market struggles under sluggish demand forecasts. South America is generally the region with the highest rig utilization, often seeing all supplied oil rigs under active use. Activity in the U.S. Gulf of Mexico and West Africa was usually a lot lower. Market leaders. The Switzerland-based contractor Transocean is the largest offshore drilling company worldwide, based on revenues. In 2024, it had a revenue of 3.5 billion U.S. dollars. Its closest competitors are Noble Corporation and Valaris. The latter was formed in mid-2019 from a merger between Ensco and Rowan and has the largest oil rig fleet of any company, offering both jackups and floaters.

Spain has a geologically diverse territory and a wide range of mineral resources. In 2021, the country produced roughly 3.8 billion euros worth of mineral products. Spain is an important producer of copper, tungsten, fluorspar, magnesite, and bentonite, among others. In 2021, it ranked as the fourth leading country worldwide in tungsten reserves, and the seventh in fluorspar and magnesite production. While the mining sector in Spain has suffered from several ups and downs in the past years, recently there has been a renewed interest in the sector in line with the European Union's need for critical minerals and an attempt to reduce its raw material dependency. Mining sites in Spain. The number of active mining sites in Spain has decreased annually throughout the past decade. As of 2020, the Mediterranean country had roughly 2,600 active mines. Recently, the closure of all coal mines by the end of 2018 has contributed to the decline of the sector. Regarding the different mineral resources extracted, quarry stones like sand and gravel, limestone, gypsum, and granite account for the largest number of sites in Spain, with more than 2,000 in 2020. The country is, in fact, one of the world’s leading producers of some of these materials, ranking fourth in gypsum production and eighth in sand and gravel production. Other types of mineral resources extracted in the country include ornamental rocks such as marble, quartzite, and alabaster; industrial minerals like bentonite, magnesite, quartz, and potash; and metallic minerals like copper, zinc, nickel, gold, and tungsten. Metal mining in Spain. Although smaller in number, with a total of 10 mining sites active as of 2020, metallic minerals contribute the most to the revenue of Spain's mining sector. In 2020, the production value of metallic minerals surpassed one billion euros. Most of Spain’s metal mines are located in the Iberian pyrite belt, which extends from southern regions of Portugal to Spain. The Spanish part is located in the autonomous community of Andalusia, the country’s region with the highest number of metal mines and mines overall. In 2020, Andalusia accounted for roughly 40 percent of the country’s mining production value. Some of the most emblematic metal mines located in this region include the Rio Tinto copper mines, which after being closed for roughly a decade reopened again in 2016, operated by the company Atalaya mining.

Ammonia (NH₃) is a colorless gas composed of nitrogen and hydrogen and one of the most widely produced chemical compounds, with a global production estimated at some 150 million metric tons in 2024. The chemical is a basic building block and a necessary intermediate for the production of most downstream nitrogen products. Although virtually all the ammonia produced today is used in the agricultural and industrial sectors, new applications for the chemical are expected to arise in the next few years. Currently, the main use of ammonia is as a source of nitrogen for fertilizers, such as urea, ammonium phosphate, and complex fertilizers. Other uses include plastics manufacturing, refrigerant gases, and cleaning preparations. The future role of ammonia. New applications for ammonia are particularly interesting in the context of the energy transition, as the chemical has the potential to be used as a carbon-free energy commodity. Specifically, ammonia is emerging as an alternative fuel for maritime transport and power generation. By 2050, the global demand for ammonia is expected to reach 470 million metric tons, with agriculture and industry still taking the lead among ammonia applications. However, shipping fuel is also forecast to be a major driver for ammonia demand in 2050, at 182 million metric tons. Overall, it is estimated that the agricultural and industrial sectors will account for roughly half of ammonia demand in 2050. Gray, blue, and green ammonia. The most commonly used industrial procedure to produce ammonia is the Haber-Bosch process, which consists of the reaction of hydrogen and nitrogen at high pressure and temperature using a catalyst. This is an energy-intensive process with a high carbon footprint. In fact, ammonia production is one of the chemical processes with the highest greenhouse gas emissions worldwide. When the hydrogen used in the process is sourced from fossil fuels, the ammonia produced is referred to as gray ammonia. On the other hand, blue ammonia combines traditional ammonia synthesis with carbon capture and storage, while green ammonia is generated only from renewable sources. By 2050, clean ammonia is forecast to account for the largest supply share of the chemical. In particular, green ammonia is expected to account for more than 40 percent. In 2021, the green ammonia market generated a revenue of some 16.8 million U.S. dollars, and it was expected to reach roughly 4.8 billion dollars in 2030. Ammonia remains a crucial chemical for the agricultural and industrial sectors, with future growth expected in clean ammonia production and new energy applications. As the world shifts towards sustainable energy solutions, ammonia's role as a carbon-free fuel and hydrogen carrier will be instrumental in driving the global energy transition.

As one of the members of the International Tripartite Rubber Council—a multilateral agreement that was signed in 2001 together with Thailand and Indonesia—Malaysia plays an important role in the rubber industry in Southeast Asia. It was also the eighth leading producer of natural rubber in the Asia Pacific. The industry itself contributed around 1.7 billion Malaysian ringgit to the country’s gross domestic product (GDP) in 2023. Nevertheless, Malaysia’s rubber industry has been facing several challenges over the years, with the declining production of natural rubber and the overreliance on smallholder farmers. As a result, the industry’s contribution to the GDP has declined compared to the previous years. The COVID-19 pandemic was a lifeline for Malaysia’s rubber manufacturing. Malaysia’s rubber production had been declining for the past few years as the country could no longer compete with bigger rubber producers like Thailand. However, the COVID-19 pandemic presented new opportunities for the rubber manufacturing sector in the country. Since 2020, there has been an increase in demand for personal protective equipment like rubber gloves. The manufacture of rubber gloves in Malaysia nearly doubled when the pandemic first started and declined significantly from 2022 to 2024 after the world had returned to normal. Nevertheless, the manufacturing of rubber products provided job opportunities for many Malaysians. As of 2024, there were more than 114,000 people working in the rubber manufacturing industry in Malaysia. More support for smallholder farmers. Rubber in Malaysia was mainly produced by individual farmers, with more than one million hectares of rubber plantation belonging to these smallholder farmers, unlike palm oil which was often grown on plantation estates owned by large companies. However, because the commodity was not as profitable as palm oil, coupled with the lack of support for the farmers’ welfare and additional challenges caused by climate change, many chose to abandon their rubber farms, contributing to the decline in production. In 2022, the Malaysian Ministry of Plantation and Commodities launched the Rubber Industry Transformation Project to help increase the income of smallholder rubber farmers, reduce the economic burden and provide more incentives for rubber production. With these initiatives, as well as an improvement in rubber price in Malaysia, the government hoped to improve Malaysia’s rubber industry in the near future.

Big Oil are some of the most valuable companies in the world and generated a combined revenue of 1.3 trillion U.S. dollars in 2024. Used as a media term to describe the world’s largest and most influential publicly-traded oil and natural gas producers – Big Oil generally refers to BP, Chevron, Eni, ExxonMobil, Shell, and TotalEnergies. State-owned counterparts to Big Oil are oil and gas-producing heavyweights such as Saudi Arabia’s Saudi Aramco, China’s Sinopec, and Russia’s Gazprom. Biggest employers and highest earners. ExxonMobil regularly reports the highest revenue of any Big Oil company. In its 2024 fiscal year, it generated roughly 350 billion U.S. dollars, which was around 70 billion more than its closest competitor Shell. Both companies are among the five leading oil and gas companies worldwide based on revenue, although they fell behind some of the above-mentioned state-owned enterprises. ExxonMobil also came out on top in terms of net income, with more than ten percent of its revenue translating into net profits in 2024. Interestingly, it reports a far smaller workforce than most of the European Big Oil companies, with Shell and TotalEnergies employing around 100,000 people each. Hydrocarbon production across companies. In 2024, United States-based Chevron had a daily liquids production volume of roughly 1.66 million barrels. Of this, around two thirds were pumped from oilfields in the company’s home market, doubling output in the past ten years. Across the Atlantic, TotalEnergies, which rebranded itself in 2021 to reflect the company’s shift towards low-carbon energy production, reported a combined liquids production of 1.47 million barrels per day in 2024. Fellow Europe-based Eni was able to declare similar levels of hydrocarbon production through its upstream operations on all major continents. Fossil fuels remain core business as European supermajors scale back clean energy investments. Although most European supermajors began diversifying their investment portfolio in the early 2020s to reflect the growing prioritization of clean energy sources within the European Union, many have since reduced their low-carbon capital spending. The return to business-as-usual comes as oil and gas remains a more reliable income stream whereas the bureaucratic hurdles associated with kickstarting clean energy projects means more financial uncertainty for shareholder-owned companies looking to guarantee ever-growing payouts.

Australia has a significant global standing in the metal mining industry and plays a crucial role in the worldwide trade of metals. From iron ore, gold, and silver, to critical minerals such as lithium, the country has continued to solidify its presence in the global metal marketplace. Australia has strong metal trade relationships with many countries. However, the recent uncertainty due to the volatile US tariff environment could present both economic challenges and opportunities. Australia’s metal mining economic contribution. The industry's contribution to the nation’s GDP has historically been high, with the income from the metal ore mining industry exceeding 220 billion Australian dollars. Additionally, over 100 thousand people are employed in the metal mining industry across the country, either directly or indirectly. Minerals and metal ores are mined across the country, with Australia often ranked among the leading countries in metal reserves. Australia is a global leader in producing bauxite, iron ore, lithium, gold, silver, and copper. The largest deposits of iron ore and gold are in Western Australia. Bauxite, mined in Western Australia, Queensland, Tasmania, and the Northern Territory, is used to produce aluminum as well as in the chemical, cement, steel, and petrol industries. Australia is a leading player in the metal trade market. While iron ore is Australia's most prominent metal export, the value of other metal exports is also high. The value of gold exported from Australia is set to reach 35 billion Australia dollars in 2025. Most of the country’s lithium is exported to China, where it is further refined into battery-grade compounds. While the U.S. is one of the main export destinations for Australian aluminum, the recently imposed tariffs on steel and aluminum may negatively affect the trade relationship in the short-term. The future of metal mining. While mining can result in high fossil fuel emissions, many metals mined are necessary for green technology. Lithium, for example, is used in lithium-ion batteries of electric vehicles. The global demand for lithium is expected to continue increasing in the coming years. Solar panels and wind turbines, both renewable sources of energy, also require metals such as titanium, nickel, and cobalt. While Australia's production of these metals and the current trade environment may place the country in an advantageous position, the industry also faces challenges such as lower-cost supply from other countries and the resulting fluctuating prices for these metals.

ExxonMobil is the largest oil producing company in the world outside of state-owned enterprises. Every day, it produces around three million barrels of crude oil and other liquids. The United States-based multinational company is active along all areas of the oil and gas supply chain, extracting, refining, and marketing hydrocarbons and hydrocarbon-derived chemicals. Regularly listed among the leading oil and gas companies worldwide based on market value, it is counted as one of the oil supermajors or Big Oil – the world’s largest public oil and gas companies. ExxonMobil's liquids production reaches new high in 2024. Next to liquids such as crude oil, natural gas liquids, and bitumen, the daily production output of ExxonMobil’s upstream division also includes natural gas. In 2024, liquids production reached a new peak, while natural gas production also saw a year-on-year increase of four percent. Meanwhile, proved reserves of ExxonMobil rose to their highest value since 2019. Overall, ExxonMobil's equity-based business operations contributed to greenhouse gas emissions of around 110 million metric tons of carbon dioxide equivalent in 2024. ExxonMobil’s continued focus on core business. Following lower than expected crude oil prices throughout the second half of 2024, the company’s net income fell to its lowest value in three years. This development was echoed by other major companies within the industry, as profits were stifled by weak demand outlooks and lower refining margins. Among ExxonMobil’s main competitors are state-owned entities such as Saudi Aramco and Sinopec, as well as fellow public conglomerates. ExxonMobil has continued to invest largely in its existing hydrocarbon operations, while its European competitors have allocated up to ten percent of their capital spending to low-carbon sources. For 2025, low crude prices amid tariff uncertainty and recession fears are expected to negatively impact the industry’s financial performance.

The world requires around 35 million metric tons of lubricants every year. Lubricants demand has remained relatively stable over the years as their use is largely tied to manufacturing industries and personal transportation. Although also used for biomedical purposes, lubricants primarily serve to reduce friction in machinery, such as passenger car motors. Passenger car engine oil is the most ubiquitous lubricant type. Other common lube products include process oil, heavy duty engine oil, hydraulic oil, and transmission and metalworking fluids. As the most populous region with an extensive manufacturing presence and home to major car markets, Asia-Pacific has the highest lubricants demand of any region worldwide. It accounts for around 44 percent of the global market (excluding Africa). Building blocks for lubricants – petroleum and petrochemicals. Most of the lubricants sold today are derived from crude oil and petrochemicals. China makes up by far the largest petrochemical market, with a global sales share of around 43 percent. This is followed by other major producer markets like the United States, Germany, and Japan. Overall, the world has a petrochemical production capacity of around 2.6 billion metric tons. Major lubricant suppliers. Due to their ties to petroleum production, lubricants are often supplied by major oil companies. Among some of the largest state-owned producers is India’s BPCL, which reported a record lubricants sales volume in its 2024 fiscal year. India is also the country receiving the largest shipments of lubricants in the world. In 2024, it imported roughly 37,000 barrels worth of lube oil via tankers every day. As the country is not a major crude oil producer, it relies heavily on petroleum product imports. Other prominent destination markets are countries with a substantial refining presence, like the United States, China, and Singapore. Demand shifts in European and U.S. markets. The Netherlands is the main destination for lube oils arriving in European ports. However, the EU’s production volume of petroleum-based lubricants has fallen to a decade low in the wake of multiple refinery closures and greater adoption of electric vehicles. The U.S. has observed similar trends to the European Union, with U.S. lubricants production the lowest it has been since at least 2010. Nevertheless, while the number of active businesses has fallen, the country's lubricants market revenue actually noted a net increase between 2020 and 2024.

Fertilizers are incredibly vital in agricultural production as they provide necessary nutrients for crop growth and development. They play a key role in the agricultural process, significantly contributing to the overall yield. The indispensable role of fertilizers has led to a consistent increase in the global demand for agricultural fertilizer. India, as an agrarian country, houses numerous small and marginal farmers and often struggles with low productivity and quality. Crops are primarily rain-fed and cultivated on a single piece of land over time, leading to a gradual decrease in soil fertility in many areas. As a result, the use of nitrogen fertilizers has increased significantly in the country. The Indian government has implemented various economic reforms to help make fertilizers more affordable and boost agricultural productivity, leading to improvements in the nation's food security. The state of the Indian fertilizer industry. As one of the country's eight core industries, fertilizer production has shown consistent positive growth since 2014. For the 2023 fiscal year, India's fertilizer sector registered the highest positive growth at 11.7 percent. India is one of the world's top fertilizer consumers, with consistent growth in domestic sales. NPK fertilizers are the most commonly used type in India, with urea being the most popular among them. The domestic consumption of urea was higher than the volume produced domestically. Domestic production has decreased due to the closure of many urea plants, and accordingly, the share of imported urea has increased considerably in the past years. To strengthen domestic urea production and support the northeastern states, the Indian government has allocated funds in its budget for the fiscal year 2025-26 to establish a urea plant in Assam. This facility will have a production capacity of 1.27 million metric tons. Alongside the importation of crude and manufactured fertilizers, the country is heavily dependent on importing raw materials such as rock phosphate, ammonia, and phosphoric acid. In fiscal year 2024, India imported fertilizers worth over 865 billion Indian rupees. Market leaders in fertilizer production. The fertilizer industry in India is made up of several government and private sector companies that manufacture a range of different fertilizer types. The Indian Farmers Fertiliser Cooperative Limited (IFFCO) is a multi-state cooperative society based in the country's capital and one of largest fertilizer producers in India, having produced 8.9 million metric tons of fertilizers in the financial year 2024. As of January 2025, Fert and Chem established itself as India's leading fertilizer company by market capitalization, however, it faced significant competition from Coromandel International, India's second-largest fertilizer manufacturer by market capitalization. India's fertilizer sector is undergoing a significant transformation due to innovative policies and incentive programs, which are reshaping agriculture and paving the way for a more sustainable future. One such initiative, the PM Program for Restoration, Awareness, Nurture, and Amelioration of Mother Earth (PM-PRANAM), aims to encourage states to promote balanced fertilizer use and reduce reliance on chemical-based fertilizers. Through this program, the government is not only supporting the fertilizer industry but also fostering environmental responsibility.

Vale, originally known as Companhia Vale do Rio Doce (CVRD) and headquartered in Rio de Janeiro, is one of the world’s largest mining companies, present in more than 30 countries around the world. The Brazilian multinational corporation specializes in the mining and production of commodities such as nickel, copper, iron ore and pellets, and manganese and ferro-alloys. The company is also engaged in steelmaking, logistics, and energy production. Vale's net income amounted to 8.1 billion U.S. dollars in 2023. Vale's financial standing. Today, the company is one of the most valuable brands in the mining industry, with a brand value of over three billion U.S. dollars as of 2024. It has operations spread across five continents, with administrative offices and operational units connected by advanced transportation and logistics systems. In 2023, Vale’s total workforce amounted to approximately 66,807 employees. In the same year, Vale's revenue amounted to roughly 41.7 billion U.S. dollars. The largest share of Vale’s segmental revenue by far came from its Iron Solutions segment, whereas China was the region with the highest profit. Vale's main mineral commodities. Focused on the extraction of minerals, Vale is the world’s largest producer of iron ore and pellets, as well as a leading producer of nickel, and copper. In 2021, Vale sold its coal assets and ceased its production of the fossil fuel mineral that year.

After the economic crisis, the mine production of gold has been increasing steadily all over the world. In 2008, global gold production from mines dropped to 228,000 metric tons. Since then global gold mine production has risen to above 3,000 metric tons each year from 2015 onwards. China is the world's largest producer of gold from mines, with production reaching 480 metric tons in 2020. Gold production in the United Kingdom, by comparison, only amounted to 50 kilograms in 2019. Silver production in the UK: also not a world leader. The total world production of silver from mines has seen a few fluctuations, but increased overall during the past decade totaling 25,000 metric tons in 2020. Of this amount, 5,600 metric tons was attributable to Mexico's silver mine production, thus Mexico is the world's largest silver producer. By contrast, UK silver production amounted to 130 kilograms in 2019. This was down considerably from production in 2011, which peaked at 531 kilograms, or just over half of a metric ton. How the UK fits into the global precious metals industry: imports. Since it is evident that the UK's precious metal production is not large enough to render them among the world's leading producing countries, trade plays an important part in the region's participation in this market, mainly in terms of imports. Import values of the various precious metals to the United Kingdom (UK) have increased over the past decade. For instance, the UK's imports of semi-manufactured gold reached a value over 55 billion British pounds in 2019. Additionally, the total value of the UK's silver imports amounted to some 2.32 billion British pounds in 2019. That same year, some 2.5 billion British pounds worth of unwrought or partly worked palladium was imported to the United Kingdom.

Mozambique's primary mineral resources include graphite, bauxite, gold, and precious stones. The African country also holds significant reserves of coal and natural gas. Extractive resources have, therefore, the potential to unlock Mozambique’s economic progress, as the country remains one of the poorest nations in Africa. In the last decade, mining and quarrying activities have expanded their contribution to the national economy. The industry’s share in the GDP jumped from 1.2 percent in 2010 to roughly 10 percent in 2020. Additionally, the number of people employed within the sector increased by roughly 45 percent in ten years. Graphite mining set to prosper. The northernmost province of Mozambique, Cabo Delgado, reportedly hosts the largest graphite mine in the world. The Balama mine, operated by Twigg Mining and Exploration, a subsidiary of the Australian company Syrah Resources Limited, produced roughly 43,000 metric tons of the mineral in 2021. Graphite is a major component of batteries used in electric vehicles and energy storage. Therefore, the mineral has turned into an in-demand commodity, with an increasing market value. Although China possesses a significant stake in the global graphite market, Mozambique has been making its way onto the scene. As of 2021, the country’s graphite reserves were estimated at 25 million metric tons, one of the largest worldwide. In the coming years, graphite mined in Mozambique and processed by Syrah in the United States will even supply the electric carmaker Tesla. Prospects of a gas-rich country. Besides holding vast graphite deposits, Cabo Delgado province is also the gateway for exploring another relevant extractive resource in Mozambique: natural gas. Back in 2010, massive gas discoveries in the Rovuma Basin off the northern coast catapulted the country into the international natural gas market and placed it among the largest holders of gas reserves in Africa. Currently, natural gas is produced in the Inhambane province in the country’s south. In 2020, the national gas production reached some 182,500 terajoules, a volume expected to increase with the development of upcoming projects in Cabo Delgado. However, the gas exploitation in the country’s north faces challenges due to insurgency conflicts. At the beginning of 2021, a brutal massacre left a trail of death in Palma, Cabo Delgado’s capital. Since then, natural gas projects in the region have been put on hold. Mining addition to the trade balance. Extractive industries are relevant contributors to Mozambique's export trade. Metals, minerals, and fossil fuels constitute the leading commodities traded internationally. As of 2021, Mozambique shipped metals and minerals worth 1.8 billion U.S. dollars, a result mainly pushed by aluminum, titanium, and gold trade. That same year, the export value of fossil fuels totaled 1.1 billion U.S. dollars, registering the first decrease since 2017, when it peaked at 3.9 billion U.S. dollars. Owning one of the most prominent coal productions in Africa, Mozambique supplied the international market with over eight million metric tons of coal in 2020, including brown and coking coal. Of these, roughly half had India as buying destination.

Indonesia is the second-largest rubber producer worldwide. It is no wonder that rubber is also one of the most important agricultural commodities in the archipelago. However, low domestic consumption leads the country to export most of its rubber production. There has been a slow decrease in the  contribution of rubber and plastic products manufacturing to Indonesia’s GDP  in the past few years, following the decrease in rubber production in Indonesia.   Smallholders’ significant role in Indonesia’s rubber industry. There are a total of 150 incorporated rubber tree cultivation companies in North Sumatra, West Java, and East Java. Together with Kalimantan Island, these areas are Indonesia’s primary production areas of natural rubber, with Sumatra and Kalimantan as the largest employers of rubber farmers and farmworkers in the nation.  The majority of Indonesia’s rubber production comes from smallholder farmers. These farmers’ roles are becoming more important as the large estates’ rubber production has significantly decreased, with many estates replacing their rubber areas with more profitable commodities, especially palm oil. Palm oil production from Indonesia’s largest rubber companies, such as Kirana Megatara Group, PT Perkebunan Nusantara and Bakrie Sumatera Plantations have been increasing while their rubber production continues to decline. Challenges facing the Indonesian rubber industry. Despite the significant  size of Indonesia’s rubber plantation area, barriers to maximizing its potential still exist. Downstream activities, such as post-harvest handling, manufacturing, and processing, are still not as significant due to a lack of infrastructure and product diversification. Without a new approach, Indonesia’s rubber industry would remain heavily dependent on the export markets in the coming decades while its domestic rubber consumption stays low. Besides the infrastructure issues, fungal attacks have been taking a toll on Indonesia’s rubber plantations in recent years, posing threats to  the country’s rubber production. One of the major contributors to this outbreak was the use of low-cost fertilizers bought by farmers and plantation owners during times of low prices. These issues highlight the importance of supporting smallholder rubber farmers in Indonesia. Providing better technical knowledge and financial support will reduce the livelihood threats to Indonesia’s smallholder farmers and secure the country’s economy.

Non-OPEC oil producers are responsible for the greatest oil production growth in the last few years and are also expected to contribute the most to 2025 gains. This is largely attributed to already established producing giants such as the United States and Brazil. These two countries were also the ones with the highest drilling licensing activity worldwide in the first months of 2025. Among the smaller producers are India and Guyana. The former recently awarded licenses to oil fields with an expected oil volume even higher than for new licenses in the U.S. The latter has become the front-runner among emerging producers, with oil extraction growing 400-fold in just five years. Guyana at the front of emerging producer countries. Oil production in Guyana began in 2019 following discoveries by ExxonMobil in the offshore Stabroek Block oil field. By 2025, oil revenues are expected to account for nearly ten percent of the country's gross domestic product, highlighting the new industry’s importance for Guyana’s economic growth prospects. Already home to the world’s largest petroleum refineries, India is hoping to reduce its reliance on imports by expanding offshore operations. This is reflected in an increased number of licenses awarded in early 2025. Another smaller producer, Argentina has benefitted immensely from new discoveries in its Vaca Muerta shale field and is set to see oil and gas investments double between 2024 and 2030. Part of these investments are to flow into LNG terminal ventures and expanding the country’s export opportunities. Tanker trade picks up in first months of 2025. As the world’s largest oil producer, U.S. production growth has centered around exploration of shale plays such as the North Dakota-based Bakken formation. Today it is the most productive U.S. oil basin for new wells ahead of the Permian, the most productive U.S. basin overall. In the first quarter of 2025, U.S. exports via tankers rose to a 9-month high despite headwind by market traders expecting lower demand. Similarly, oil tanker trade in Brazil was also off to a promising start, with figures having net increased by 0.5 million barrels per day in the last three years. Brazil and other countries in the Latin American region have reported the greatest number of new oil and gas field discoveries in 2024. As such, the region is one of the most promising for future oil production growth.

Construction costs have been a major concern for the construction industry in Canada over the past few years. Keeping in line with the inflation rate in Canada recently, the growth of residential and non-residential building construction costs in the country has been slowing down. These costs increased by 19.2 percent for housing in 2022, but by just 4.4 percent in 2024. The evolution of construction costs has had a strong impact on the performance of the industry as a whole, as well as on real estate prices. Vancouver had the highest construction costs. In general, larger cities have tended to have the highest construction prices. The average cost of constructing a building in Vancouver amounted to 2,996 U.S. dollars per square meter in 2025, putting it at the top of the ranking, followed by Montreal and Toronto. Vancouver was also one of the cities in Canada with the highest valued vacant land. In 2022, the median value of a vacant lot of land in the metropolitan area of Vancouver was 936,000 Canadian dollars, but just 365,000 Canadian dollars in Toronto. Land values in some smaller cities were also relatively high. In fact, the annual growth rate of residential building construction prices in Victoria, Regina, and Calgary was over seven percent, which was well above the average for most Canadian cities. Ceramic materials prices soar, while most building materials prices slow down. Along with the aforementioned land prices, labor costs and the price of materials and equipment are some of the elements that make up most of the final cost of a construction project. In Canada, the hourly wage of construction employees has increased at a relatively stable pace in the past decades. Material prices, however, have remained volatile since 2020. As we have seen earlier, construction costs soared between 2022 and 2024, with some stabilization in 2024, but these trends were more pronounced among building materials. The price growth rate of most building materials in Canada was over 11 percent in 2022, while the price of lumber grew by 26.7 percent and 49.7 percent in 2020 and 2021, respectively. The price of some building materials increased by less than two percent in 2024, while others saw their prices fall. However, the cost of some products continued to increase in 2024, with the price of cement growing by 11.4 percent and that of clay and ceramic products and refractories by 46.7 percent. Overall, construction costs have continued growing in 2024 and early 2025, but at a slower pace.

Crude oil and other refined petroleum products, such as diesel and gasoline, play a vital role in producing electricity, fueling vehicles, and heating buildings. These products are also used as chemical raw materials in manufacturing essential items we use daily. In the Philippines, oil consumption was highest among other fuel types, especially within the transportation sector. However, due to lower production output, the Philippines imports crude oil and petroleum products to meet growing demand. Further explorations in the industry are needed to meet the demand for petroleum products and to minimize import dependency. Which countries supply oil to the Philippines?   Since 2018, the volume of proven oil reserves in the Philippines has consistently been 138.5 million barrels. This resulted in a significant decline in the volume of crude oil produced in the Philippines and a strong dependency on imports supplied by the Middle East, particularly from Saudi Arabia and UAE. In 2021, crude oil production was limited to the Galoc oil field in Palawan amid the decommissioning of other oil fields and the temporary shutdown of drilling operations on the Alegria oil field in Cebu. Meanwhile, refined petroleum products such as diesel, gasoline, and kerosene were primarily imported from South Korea, Singapore, and China in 2022. The Philippines also imported finished petroleum from Russia, although at a minimal amount. As for crude oil production, the oil refining capacity has stayed at 180,000 barrels per day since 2020. This was brought on by the closure of other refineries in recent years, leaving the Bataan Oil Refinery as the only working oil refinery in the country. As a result, petroleum refinery production declined in 2022 compared to the 2018 production volume. Due to market fluctuations and economic and political developments in oil-supplying countries, the retail price of gasoline and diesel fluctuated monthly, especially during the summer months of 2022. Big Three dominates the Philippine oil market. The Philippine oil industry is currently dominated by the so-called “Big Three” petroleum companies, which hold a market share of about 42 percent of the total petroleum product demand. As of March 2023, Shell held the highest market share, followed closely by Petron. Shell was initially engaged in the refinery business but decided to close its refinery in 2020 to focus more on fuel imports. Petron Corporation, on the other hand, owns and operates the only operating oil refinery and claims to have the capacity to supply about 40 percent of the total fuel requirements. Finally, Chevron Philippines also decided to stop its refining operations to focus on imports due to the increasingly competitive marketplace. As of December 2022, there were 156 importers and about 26,000 retailers in the Philippines, according to the Energy Department.

Mining has played an integral part in New Zealand’s economic development since the 19th century. Commodities including coal, gold, and non-metallic minerals are mined across the country, with the resources produced from mining used locally as well as exported. The contribution that the mining industry has to the country’s gross domestic product is valued at over two billion New Zealand dollars. Recently, the government released its national Minerals Strategy and Critical Minerals List, which underpins the strategy to double New Zealand’s mining exports to three billion New Zealand dollars by 2035. What is mined in New Zealand? The first coal mine was opened in 1849, leading the way for many more large-scale coalfields to be discovered. As of 2023, New Zealand had 13 productive coal mines, which were all open cast operations. The country uses coal for electricity generation, particularly in the South Island, where there is no piped gas system. The manufacture of important products such as cement, steel, and wool rely on coal that is extracted domestically. Gold and silver mining in New Zealand are small segments of the mining industry. The gold production volume of the Macraes Mine, the most productive gold mine in the country, amounted to just over four thousand kilograms in 2023. The Martha Mine, located in Waihi, produces the largest amount of silver in New Zealand and was once one of the most important silver mines globally. Additionally, non-metallic minerals, such as sand and limestone, are also mined and used for construction as well as across various industries. New Zealand’s mining future up for debate. Mining and the opening of new mines are contentious topics within the country. Although mining is an important economic industry, the processes involved can lead to harmful environmental impacts. Chemical contamination on land and in water, sediments in waterways, and loss of riparian vegetation are all potential negative impacts directly linked to mining. The greenhouse gas emissions from mining in New Zealand, although decreasing over the years, are also a current topic of discussion. The discourse been further fueled by the release of the national Minerals Strategy and Critical Minerals List. While the government has highlighted mining's potential economic benefits and role in renewable energy technologies, opponents, such as environmental and public groups, are concerned about the environmental and social impacts, as well as the perceived lack of transparency during decision making processes.

The industrial gases industry is a crucial global sector. It encompasses the production and supply of gases like oxygen, nitrogen, hydrogen, carbon dioxide, and noble gases, which are essential for various industrial processes. Industrial gases are used in a wide range of industries, including manufacturing, healthcare, food and beverage, electronics, and energy. The total global market value of industrial gase s amounted to some 1.67 billion U.S. dollars in 2024. It is forecast that the market value will increase to 2.07 billion U.S. dollars worldwide in 2029. Main applications of industrial gases. Industrial gases play a pivotal role across various manufacturing sectors. Chemical manufacturing processes, for instance, rely on industrial gases as raw materials. In chemical manufacturing, these gases serve as essential raw materials. The steel and metal fabrication industries consume large volumes of gases, particularly oxygen, to enhance combustion processes. The automotive and shipbuilding sectors also heavily depend on industrial gases for cutting and welding operations. Other important industrial gas applications include special gases for semiconductor manufacturing, breathing and medicinal gases, food and beverage gases, and hydrogen energy. Key players in the industrial gas sector. Linde, Air Liquide, Air Products, and Taiyo Nippon Sanso are the largest industrial gas companies worldwide. Together, these four conglomerates account for over 80 percent of the industrial gas sector. Linde, a global multinational headquartered in Ireland, is currently the leading company in the industry. The company as it is known today was formed after the merger of german company Linde AG and U.S.-based company Praxair in 2018. In 2023, Linde employed 66 thousand people and generated a revenue of almost 33 billion U.S. dollars. Air Liquide and Air Products are the second and third biggest players in the sector, with chemical sales of 29.4 billion euros and 12.6 billion U.S. dollars, respectively. The industrial gases industry is vital globally, providing essential gases like oxygen, nitrogen, and hydrogen for diverse applications in manufacturing, healthcare, and energy. This sector significantly impacts the economy and drives technological advancements, particularly in sustainable energy solutions.

Graphene is a one-atom-thick allotrope of carbon that is incredibly flexible, strong, and lightweight. It is a two-dimensional material due to its single-atom thickness. These properties make the material ideal for a wide variety of applications that could potentially revolutionize several industries. First produced in 2004, the potential uses for graphene appear almost limitless, but all new technologies face challenges in the marketplace. It may be many years before the material is developed practically, and it still needs to be determined how graphene-based products could be manufactured on a commercial scale. Nevertheless, there are already some interesting graphene-based products on the market, such as power banks, light bulbs, and bicycles with graphene-enhanced carbon fiber. Graphite and methods of graphene production. The potential of graphene might not have been recognized had it not been for groundbreaking research with one of the best-known forms of carbon: graphite. Graphite is essentially made up layers of graphene stacked on top of each other to form a three-dimensional structure. Graphene is fundamentally graphite in a single layer. The total global production volume of graphite amounted to an estimated 1.6 million metric tons in 2023, while graphite global reserves amounted to 280 million metric tons. There are several ways to produce graphene; some are more technical than others. One method involves heating copper at a very high temperature and introducing methane, which causes graphene to grow on both sides of the copper. A much simpler method was used at The University of Manchester in 2004 by two researchers — Andre Geim and Konstantin Novoselov — when they originally isolated the first-ever two-dimensional material. Thin flakes of carbon were extracted from graphite using sticky tape. The researchers repeatedly peeled the flakes until they became so thin that specialist equipment had to be used to determine the number of individual graphene layers within the flakes. Fast forward to June 2023, and there were over 80 carbon fiber and graphene manufacturing businesses in the United States alone. The Canadian corporation NanoXplore had the leading market capitalization of any graphene producer in the world as of September 2024, at nearly 281 million U.S. dollars. The company specializes in the development of graphene-based formulations that can be used to improve the performance of materials such as thermoplastic and thermoset polymers, and produces a graphene powder consisting of six to 10 atomic layers. What is graphene’s potential? Graphene’s unique set of properties — exceptionally thin, light, strong, and an excellent conductor of heat and electricity — means that the material could have a significant impact on many industries. Some of the main applications in which graphene is already in use are within plastics, composite materials, and electronics, including energy storage. The main commercial forms of graphene include functionalized graphene and graphene oxide, among others. Looking ahead, with improved affordability and availability, it is anticipated that graphene’s impact will develop in exciting ways. For example, graphene could unlock a new wave of super-fast, ultra-light smartphones or wearable devices.

The worldwide oil and gas industry has been ramping up mergers and acquisitions (M&A) activity, with 2024 off to a hot start. The first two months of 2024 reported the highest deal value of a first quarter since 2017, following years of decline. This surge is largely thanks to transactions undertaken by United States-based companies. Being home to many of the world’s most profitable public oil and gas entities, the U.S. has dominated oil and gas mergers and acquisitions more than any other country. It regularly accounts for between 50 and 80 percent of the world’s total deal value. The largest deals in recent history. ExxonMobil’s acquisition of fellow Texas-based oil and gas producer Pioneer Natural Resources was the most valuable deal between 2023 and the first months of 2024. This deal is especially noteworthy as it grants ExxonMobil access to the numerous oil and gas exploration licenses held by its target in the Permian basin, the largest oil-producing basin in the U.S. Pioneer Natural Resources was previously the company operating the most sizable acreage in the area, giving ExxonMobil the potential to become the largest shale oil and gas producer in the country. It is the fourth most valuable oil and gas industry deal since 2000, falling just short of the 70 billion U.S. dollar deals between Shell and BG Group, and Kinder Morgan’s purchase of the publicly held shares of some of its subsidiaries. Increase in deals aimed at diversification. Apart from purchases meant to strengthen existing oil and gas assets, there has also been growing interest in diversification. Oil and gas companies have demonstrated the willingness to hand out billions of dollars in a bid to widen their portfolio and prove resistant to potential climate change-related upheaval. Some of the most valuable deals were energy transition-focused deals such as the proposed acquisition of Origin Energy, an Australian electricity provider, which was ultimately cancelled, and the offering of the purchase of Ecros, a basic chemicals and electrolyzer producer. While many of the more traditional M&A deals boasted a successful transaction, cross-industry deals have proven more difficult. Shareholder voting or antitrust reviews are potential hurdles to completing purchases, depending on outside parameters. Globally, the energy sector tends to see far less mergers and acquisitions activity than other industries, with the technology sector one of the most common targets.

As a major global rubber products manufacturer, Japan was one of the leading consumers of natural rubber. Throughout the past decade, the sales value of rubber products in Japan remained at close to two trillion Japanese yen, indicating a constant demand for rubber products. Since rubber can be used alone or in combination with other materials, both its naturally and synthetically sourced forms are utilized in everyday life products ranging from vehicle tires to gaskets, hoses, belts, medical supplies, and sports equipment. Major benefits of rubber are its large stretch ratio, high resilience, and waterproofness. Also, synthetic rubber, which is synthesized from byproducts of the petroleum refining process, has high thermal stability and resistance to oils and related compounds.  The rubber industry in Japan . Japan's rubber industry has a strong position in the automotive industry since it is an important supplier of rubber tires. Automotive hoses and vehicle tires represented major products manufactured by the rubber industry. Rubber hoses, belts, medical supplies, and sports equipment followed, underlining the variety of products as a strong point of the Japanese rubber industry. Regarding the trade with rubber products, automobile tires and tubes had by far the largest export value. Even though automobile tires represented the leading imported rubber product to Japan, the trade balance remained positive, as exports exceeded imports. In 2020, manufacturing ceased worldwide on account of the COVID-19 pandemic. But after production resumed, the demand for raw materials increased again. Furthermore, the demand for rubber was expected to grow since the global demand for products such as rubber gloves and medical supplies rose as a result of the pandemic. Accordingly, the monthly rubber price in Japan dropped at the beginning of 2020 but increased again towards the end of the year.  Major players in the Japanese rubber industry. Bridgestone Corporation was one of the largest rubber product manufacturers worldwide and represented the leading rubber company in Japan. The Tokyo-based company was one of the largest global producers of automotive tires, with a global tire market share of over 14 percent. Other major rubber companies in Japan were Sumitomo Rubber Industries and Yokohama Rubber Company. Both are major vehicle tire manufacturers that also produce a wide range of other rubber-based products, including sports equipment and industrial rubber products.

Japan is well known for its global leading car manufacturing and shipbuilding industry as well as technology companies. All these industries have a strong demand for paint and coatings, creating a large market for paint. Paint and coatings are usually used to optimize, protect, or decorate different types of surfaces, ranging from objects to walls. In recent years, Japan represented the fourth-largest exporter of paint worldwide. Furthermore, the shipment value of paint in Japan grew to over one trillion Japanese yen in recent years, indicating a steady growth in the Japanese market.  Paint industry in Japan. In recent years, emulsion paint represented the paint type with the largest production volume in Japan, followed by water-based resin paint. Emulsion paint is exclusively used for interior walls and ceilings, while water-based resin paint is used in the production of coatings, adhesives, sealants, elastomers, and composite materials. Japan is known for its export-driven economy – this also applies to the paint industry, as the island nation has more than twice exported the volume it imported in recent years. Japan mainly exported paint to Asian regions such as China, South Korea, and Taiwan, and mostly imported paint from Asian and American countries. Paint and coatings are a major subset of the chemical industry. In recent years, the Japanese chemical industry was the fourth largest worldwide, following China, the United States, and Germany. Since the other manufacturing industries are dependent on the materials it provides, the chemical industry is one of the country's largest manufacturing industries. Product quality and innovation are the strengths of the Japanese chemical industry since a large amount is spent on research and development every year.  Japanese companies rank among the global leaders . The number of facilities in the paint manufacturing industry in Japan is relatively small, amounting to only around 457 facilities in recent years. Based on sales, Nippon Paint and Kansai Paint were the leading paint manufacturing companies in Japan and ranked among the paint companies with the largest global market share. Both companies produce a variety of paint, ranging from protective coatings for automobiles and ships to decorative paint for building walls.

International Paper dates back to the 1890s when it was founded in Corinth, New York following the merger of 18 pulp and paper mills in the northeastern United States. Today, International Paper is headquartered in Memphis, Tennessee, and is one the largest forestry and paper companies in the world. It operates 28 pulp, paper, and packaging mills, 200 converting and packaging plants, and 18 recycling plants, serving more than 25,000 customers across 150 countries. International Paper financial information. International Paper reported revenue of 21.16 billion U.S. dollars in 2022, making it the world’s largest paper company by revenue. International Paper’s home market of the United States accounted for almost 90 percent of regional net sales in 2022, at 18.5 billion U.S. dollars. Much of this was generated by the company’s North American Industrial Packaging segment, which had net sales of 16 billion U.S. dollars that year. This was followed by its global cellulose fibers operating segment, which generated revenue of 3.23 billion U.S. dollars. International Paper’s product portfolio. International Paper produces a wide range of industrial packaging products – of which it sold 16.8 million shorts tons worth in 2022. These products include, amongst others, saturated kraft, gypsum paper, and containerboard – a type of paperboard used in the manufacturing of corrugated packaging. International Paper is a leading producer of containerboard and accounts for 32 percent of the North American containerboard market. In 2022, International Paper’s containerboard production capacity was 14.37 million short tons. International Paper was also once a producer of printing paper products, but on October 31, 2021, the company completed the spin-off of its printing papers business into a standalone company, Sylvamo Corporation. The spin-off of Sylvamo, in addition to the sale of its pulp and paper mill in Kwidzyn, Poland, means that International Paper no longer has a printing paper business segment. As a result of this, the number of International Paper employees fell by more than 10,000, in 2021 compared to 2020, to approximately 38,200. As of 2022 International Paper had 39,000 employees.

Latin America is the second largest region in terms of proved oil reserves. These oil reserves are primarily located in Venezuela’s Orinoco Belt. However, despite playing an important role in the global market and the economy of countries like Brazil, Mexico, and Venezuela, the oil industry in Latin America has seen better days. In 2023, it accounted for less than eight percent of oil production worldwide, a share which has been in consistent decline over the past decade. Brazil: the new oil giant. Brazil is by far the leading crude oil producer in the region. After the discovery and early exploitation of deep offshore reserves known as pre-salt between 2010 and 2014, Brazil's annual oil production has since experienced a mostly upward trend. In 2023, it reached a new peak of 3.5 million barrels per day. Petrobras, the national oil corporation, is not only the largest in the region, but was also one of the most profitable oil and gas companies in the world as of 2024. Mexico and Venezuela: former leaders in crisis. Meanwhile, Mexico faces a different situation, in spite of ranking second in Latin America and eleventh in the world in terms of crude oil production. Pemex, the state-owned company which once had exclusive rights over oil production and distribution in the country, has experienced a major production crisis in the past few years. Since 2004, the company’s crude oil output has nearly halved, remaining below two million barrels per day. Even more critical, oil production in Venezuela has declined by more than 80 percent in the past ten years. In fact, the once oil titan has recently lost its long-standing position amongst the top three Latin American oil producers, surpassed by Colombia. In addition, increasing economic sanctions have had a negative impact in the country’s oil exports, especially to the U.S. Compared to other crudes in the OPEC reference basket, Venezuela’s Merey is among the most low-priced oils due to its heavy grade. Guyana: promising outlook for a new market. Recent discoveries and investments in oil production off the coast of Guyana, mainly by ExxonMobil, have made the country one of most promising growing suppliers of oil. A forecast suggests that the crude oil export value from Guyana could reach nearly 27 billion U.S. dollars by 2028.

Polyvinyl chloride (PVC) is a versatile thermoplastic polymer that constitutes one of the most extensively utilized types of plastics worldwide. The widespread adoption of PVC can be attributed to its wide array of desirable properties including durability, flexibility, as well as resistance to both corrosion and fire. As of 2022, the average global price for PVC amounted to 1,115 U.S. dollars per metric ton. However, the monthly prices of PVC exhibited substantial variation, ranging from 664 U.S. dollars per ton in May 2020 to 1,735 U.S. dollars per ton in October 2021. How is PVC used? PVC can be categorized into two distinct types: rigid PVC and flexible PVC. Rigid PVC finds application in the manufacturing of pipes, fittings, and roofing membranes, whereas flexible PVC, which contains plasticizers which make the PVC softer and more flexible, can be used in the production of trim components, floor mats, and shrink wrap. In 2021, the end use sector that was responsible for the greatest share of global PVC consumption was the construction sector. In the construction industry, PVC's durability and resistance to corrosion and weathering make it suitable for cladding, windows, roofing, fencing, decking, flooring, and many other building materials. Other significant end-use sectors include the transportation and automotive industry which employ PVC for both interior and exterior trim components due to its flexibility and ability to be molded into diverse shapes. What are the challenges and opportunities for PVC? Despite its versatility, PVC has faced criticism for its environmental impact. The production process of PVC involves the use of toxic chemicals, potentially leading to the emission of harmful pollutants into the environment. Another environmental concern of PVC is that it is difficult to degrade, and as such PVC waste can persist in landfills for many hundreds of years, contributing to the global plastic pollution problem. However, efforts are being made to improve the sustainability of PVC production and consumption. These include the implementation of recycling practices, adoption of renewable energy sources, and the development of bioplastics and biodegradable alternatives. Despite these concerns, the PVC industry is expected to continue to grow. In 2021, the global market for PVC was valued at 68.3 billion U.S. dollars and is expected to grow to a value of 100.9 billion U.S. dollars in 2031.

Vinci is a French company founded in 1899, originally named Société Générale d’Entreprises S.A. (SGE), by Alexandre Giros and Louis Loucher. The company adopted its current name in 2000 after a merger. It is currently one of the largest construction companies in the world. Vinci Group is active in markets all over the world. However, in 2022, it generated most of its revenues within France. In recent years, Vinci has won concessions contracts to operate an airport in the Dominican Republic and a road in Colorado. It has also won contracts for the construction or design of infrastructures and buildings in France, Senegal, Australia, Hong Kong, and other countries. In what types of projects is Vinci involved? The French company generated its revenue from several different business lines. The main sectors where the company is active are construction, energy, property and holding companies, and concessions, operating airports, highways, and other infrastructures, from which the company generated a relevant share of its revenue. Under its concessions business segment, Vinci Autoroutes operates one of the largest motorway networks in Europe. Meanwhile, Vinci Construction employed hundreds of thousands of people all over the world. Vinci provides a wide range of services for its infrastructure projects, including design, construction, and maintenance. For example, Vinci has been involved in the construction of the High Speed 2 (HS2) project, the second major high-speed railway in the United Kingdom. The Americas represent a great source of income for Vinci. Vinci's construction business has been the segment with the highest revenue throughout the past decade. Nevertheless, Vinci Energy has been increasing in size at a faster pace during that time. When it comes to the markets where Vinci is most active, Europe still was its major source of revenue, even when not taking France into account. The countries from which Vinci generated most of its revenue abroad were the United Kingdom and Germany. Spain was also slightly higher in that ranking than either the United States or Canada.

The European pesticide sector plays a crucial role in the region's agricultural industry. The main objective of pesticide use is to safeguard crops from various threats. These threats include pests, diseases, and weeds that can potentially harm or destroy crops. Therefore, this sector is vital in ensuring the health and productivity of the region's agricultural crops. In 2023, Europe consumed a total of 444.32 thousand metric tons of pesticides, accounting for 11.9 percent of the total agricultural pesticide consumption worldwide. European pesticide manufacturing and sales. Major players dominating the European pesticide sector include BASF, Bayer, and Syngenta. These manufacturers produce a wide range of pesticides, including herbicides, insecticides, and fungicides. In 2023, about 62.9 percent of the fungicides and bactericides sold in the European Union (EU) were inorganic fungicides, such as copper compounds and inorganic sulfur. The largest share of insecticides and acaricides sales in the EU were pyrethroid-based, accounting for 4.1 percent of sales. However, over 95 percent of sales came from other insecticides, a category encompassing 17 chemical classes, including pyridylmethylamine insecticides and insect attractants. The largest portion of herbicide sales in the EU in 2021 was from organophosphorus herbicides, accounting for 34.9 percent. These include glyphosate, a commonly used herbicide that has been the subject of controversy due to its potential health and environmental effects. Pesticide residues in European food. Despite the benefits of pesticides in agriculture, their residues in food have raised concerns about their potential impact on human health and the environment. The European Food Safety Authority (EFSA) routinely monitors the levels of pesticide residues in food. While the majority of European food samples meet the legal limits for pesticide residues, a small percentage exceed these limits, underscoring the need for continuous monitoring and regulation. The European country with the highest share of import control samples above the maximum residue limit (MRL) in 2021 was Cyprus, with 17.07 percent of the samples exceeding the legal limit. This means that more than one out of six food samples imported from Cyprus had too much pesticide residue. That same year, glyphosate residue was found within 1.38 percent of European samples, with glyphosate residue levels exceeding the MRL in 0.15 percent of the samples tested. Overall, the European pesticide sector plays a crucial role in supporting the region's agriculture. However, it also faces challenges related to public health and the growing consumer preference for organic products. A sustainable path forward for Europe’s pesticide sector will depend on balancing the need to safeguard agricultural productivity and food security with the imperative to minimize risks to human health, biodiversity, and the environment. As consumer demand for organic and eco-friendly alternatives grows, the adoption of stricter regulations, investment in research, and the development of innovative agricultural practices will be essential to ensuring that Europe secures a safe, resilient, and sustainable food system for the future.

Mergers and acquisitions (M&A) play a central role in shaping the global chemicals industry, supporting growth, consolidation, and strategic change. In 2024, 983 deals were announced, underlining the continued importance of M&A activity in the sector. Though the terms "merger" and "acquisition" are often used interchangeably, they describe different processes of company consolidation. A merger involves the combining of two companies to create a new entity, while an acquisition, sometimes called a hostile takeover, involves one company purchasing another. In 2024, the total global value of M&A activity across all sectors was approximately 2.6 trillion U.S. dollars. Specifically, in the chemical industry, the total value of M&A activity was 75 billion U.S. dollars that year. Chemical M&A: which chemical subsectors and regions are the most active? In 2023, commodity chemicals led the chemical subsectors in M&A deal volume, with 282 deals globally. This was roughly double the number of deals in specialty chemicals, which had 127, making it the second-largest subsector. Regionally, the United States had the highest number of chemical industry deals, totaling 140. China followed with the second-largest volume of chemical M&A deals, amounting to 43. Which are the main chemical companies involved in M&A activity? Several high-profile chemical M&A deals have been completed in recent years, such as Bayer’s acquisition of Monsanto (completed in 2018), and the merger of Dow and DuPont (completed in 2017). Since the DowDuPont merger the conglomerate has split into three companies: Dow, DuPont, and agricultural chemical newcomer, Corteva. The most valuable completed deal in the industry he most valuable completed deal in the industry was Apollo Global Management, LLC and Abu Dhabi Investment Authority aquisition of Univar Solutions Inc. which was valued at 8.2 billion U.S. dollars. Although in recent years, the overall volume of M&A within the global chemicals sector has witnessed a decline, the total value of transactions experienced a notable increase in 2023. M&A remains an important strategic maneuver for chemical companies, as the industry sustains a relatively high level of activity driven by persistent demands for growth, innovation, and competitive positioning.

The silvery-while metal palladium is the most prominent platinum group metal (PGM) following platinum, with global palladium mine production estimated at 190 metric tons in 2024. Palladium is a chemical element and one of the PGMs that share similar physical and chemical properties, and which tend to be found in the same mineral deposits. Russia was the leading mine producer of palladium in the world in 2024, with an estimated 75 metric tons produced that year. As a result of increased industrial demand, such as in electronic devices, the global market value of palladium is forecast to reach 26.37 billion U.S. dollars in 2035. Palladium industry and uses. Palladium has some unique properties that make it useful or even indispensable for certain applications. About 82 percent of global palladium consumption was attributed to catalytic converters in automobile exhaust treatment systems as of 2023. Other areas of application of palladium include electronics, jewelry, medicine, dentistry, and groundwater treatment. Because hydrogen gas can filter through hot palladium, this metal is a key component of hydrogen fuel cells. North America was the world’s leading palladium-consuming region as of 2023, accounting for more than a quarter of global consumption. In March 2022, the price of palladium spiked to 2,611 U.S. dollars per ounce due to supply concerns amid the Russian invasion of Ukraine and resulting sanctions against Russia. Palladium prices had dropped to 923.65 U.S. dollars per ounce in June 2024. Leading palladium mining companies. The leading palladium-producing company in the world is the Russian mining giant Norilsk Nickel (also known as Nornickel). Although Nornickel is primarily a nickel mining company, the company’s top ranking position among palladium miners is explained by the fact that palladium occurs in nickel-bearing ores. Nornickel’s palladium production amounted to 2.76 million troy ounces in 2024, with operations located in Siberia, Finland, and South Africa. The second largest palladium-producing company, Anglo American Platinum, which produced 20 percent of the world’s palladium in 2023, is based in South Africa. A subsidiary of Anglo American, it produced almost 1.25 million ounces of palladium in 2024.

The construction sector plays a vital role in the Philippine economy, contributing approximately seven percent of the country’s gross domestic product (GDP) in 2024. Fueled by the national government’s infrastructure program, the sector attracted about 1.5 billion Philippine pesos in foreign investments and generated employment opportunities for thousands of Filipinos. Despite challenges from the COVID-19 pandemic, the sector is poised for growth as the economy recovers, aided by easing inflation rates. Improving the Nation’s Infrastructure with “Build Better More”. The Philippine government’s flagship infrastructure program, “Build Better More” (BBM), supersedes the previous “Build! Build! Build!” initiative. As of the first quarter of 2025, the National Economic and Development Authority (NEDA) reported that 35 percent of the 207 identified projects are ongoing, with less than five percent completed. The BBM program, estimated at nine to 10.4 trillion Philippine pesos, includes 198 high-impact infrastructure flagship projects (IFPs), 73 of which were carried over from the former program. Its focus spans physical connectivity, water resources, and agriculture, with funding from official development assistance (ODA), the General Appropriations Act (GAA), and public-private partnerships (PPP). Government spending on infrastructure has increased by over 512 percent in the last decade. Major projects include the Metro Manila Subway, North-South Commuter Railway Extensions, the Bataan-Cavite Interlink Bridge, Panay-Guimaras-Negros Bridge, Taguig Integrated Terminal Exchange, and the New Manila International Airport. Easing Inflation Supports Sector Recovery. The COVID-19 pandemic caused significant delays and cancellations in both private and public construction projects due to disrupted supply chains and workforce challenges. As restrictions eased, construction activity resumed, with non-residential building construction peaking in 2024, driven primarily by commercial projects. Residential construction volumes, however, remain below 2019 levels. The inflation rate dropped to 3 percent in 2024, despite continued increases in the average nominal bank lending rates to their highest since 2017. Prices for construction materials also showed slower growth at both wholesale and retail levels. The Philippine construction sector has shown clear signs of recovery since the pandemic, with increasing private construction activity and gradual completion of public projects. Slower increases in material prices further support this positive trend.

The multinational Italian company Eni S.p.A. was established by law in 1953 from the existing company Agip, which was dedicated to oil exploration and the commercialization of oil and its derivatives. Originally, the name “ENI” stood for “Ente Nazionale Idrocarburi” (national hydrocarbons authority). Since then, Eni has become Italy’s largest industrial company and has operations in more than 70 countries around the world. The company is headquartered in Rome. The oil and gas company was one of the ten most valuable Italian brands in 2022 and is roughly 30 percent owned by the Italian government. Eni’s operations and financials. Since its establishment, Eni has broadened its operations to include nuclear energy, mining, natural gas and power, refining and marketing for petrochemical products, and more. Refining and marketing operations account for the majority of Eni’s net revenues. Exploration and production of oil and gas also contribute extensively to its net revenues, since the company produces large volumes of hydrocarbons in its oil field areas across the globe. In 2021, approximately half of Eni’s global gas sales were generated within Italy. The company had a net loss of 8.6 billion euros in 2020, as a direct result of lower transportation fuel demand during the coronavirus pandemic. It was the greatest annual loss since 2015. Eni’s green deal. As an oil and gas supermajor, Eni is one of the leading greenhouse gas emitting companies worldwide. However, Eni plans to achieve carbon neutrality by 2050. Until then, the company has set intermediate targets to reduce its environmental impact. In 2021, Eni ranked as the second-leading company in Italy based on greenhouse gas emissions reduction, after the multinational power company Enel. Eni’s actions towards carbon neutrality include a carbon capture and storage project in the Eni United Kingdom branch, investments in biofuels, and a nuclear fusion research project with the MIT spin-off Commonwealth Fusion Systems. The project aims to inaugurate the first experimental nuclear fusion reactor in 2025.

Being the closest platform to challenge Facebook’s long reign in Spain, Instagram has the second-largest social media audience in the country, with a user base of around 21.07 million users as of 2022, expected to grow another 4.08 million by 2027. While Spanish Facebook users are starting to feel fatigued by Meta’s flagship platform, Instagram’s visually focused format and popularity among younger generations put it into a more comfortable position in the Mediterranean country’s social media sphere, especially considering its favorable positions in the country’s social influencer market and e-commerce sector. How strong is Instagram in Spain? Ranking only behind only WhatsApp, Instagram has the second- largest usage reach, and is the second favorite platform among Spanish social media users, being the first choice for 23 percent of these audiences. Figuring among some of the most accessed websites in the country, Instagram is accessed by around three-quarters of social users in 2023, ranking third in terms of user awareness and monthly active users when also including Facebook. Unlike Meta’s flagship network, Instagram’s popularity is solid among younger audiences, ranking as the second most popular platform among Generation Z and Generation Alpha users. Its position is likely to remain comfortable in the upcoming years, considering the halt in Facebook’s progress, and TikTok’s expansion in Spain, which still hasn’t gathered larger audiences despite its fast growth in downloads and targeting similar niches. How do Spaniards use Instagram? Almost 70 percent of Instagram’s Spanish audiences use the platform at least every day, with an average usage time of little more than an hour. In comparison to other platforms, Instagram’s engagement surpasses the one of Facebook but is used for less time than several other platforms, including WhatsApp and TikTok, or even smaller contenders like Twitch and Discord. Meanwhile, more than half of Instagram users in Spain are aged between 18 to 34 years old, most of them being women. The platform’s audiences are predominantly concentrated in big population centers like the capitals Madrid and Barcelona, where its popularity even surpasses that of Facebook. Leader of the Spanish influencer market…. Despite not overcoming Facebook in terms of reach, Instagram's potential in Spain is better explored in the country’s blossoming social media influencer sphere, as more than half of social media users in Spain follows influencers. With relatively successful influencers in terms of promotion and credibility, combined with its audience’s demand for weekly content, Instagram is the most used platform to follow influencers in Spain, being the choice for around 70 percent of the country’s social media users for this purpose. Noteworthy, Instagram’s most followed accounts in Spain have a much higher presence of female personalities, coming from various backgrounds but are frequently connected to arts and entertainment. In comparison, Twitter's most followed accounts in the country are dominated by male personalities, especially when considering the popularity of its football teams and players. Whether officially being considered influencers or not, Instagram’s top accounts reflect a more authentic picture of the country’s overall followership of social accounts. … and second most-used for social-commerce. Instagram’s ascent in Spain is not just restricted to its thriving social influencer sphere, as the platform replicates its success in Spain’s e-commerce sector. Despite also ranking second to its Meta sibling Facebook and having far smaller social commerce revenues, the network is the second-most used for commercial purposes and the second-most used by marketplace customers in the country. The platform’s role in the Spanish social commerce sector becomes even more clear among younger audiences with the Instagram Shopping feature. While the followership of influencers and brand profiles is stronger among Spanish Gen Z users, making purchases directly through social platforms grows strong across all age groups, highlighting the potential of its fresher and still competitive format.

A desktop personal computer (PC) is a computer designed for regular use at a specific location on or near a desk or table. Through the 1990s and early 2000s, these devices became key tools for work, study, and entertainment. However, the last decades have seen smaller, portable devices like the laptop rise in popularity. Desktop PCs form part of the wider PC market which, in the United Kingdom (UK), has performed consistently in terms of sales. In 2022, the PC market in the UK was valued at 5.7 billion U.S. dollars, with desktop PCs in the UK generating 600 million U.S. dollars in revenue. The desktop PC market is not immune to economic troubles. Facing the same challenges as other device markets because of the unfavorable economic climate, the PC market in the UK declined by over five percent in 2022, with desktop PCs experiencing a market contraction of 3.8 percent. This came off the back of a positive period for the PC industry: the pandemic enforced move to a new way of life led to a surge in the number of people working or learning from home who required a PC to fulfill these tasks. In addition, people sought new methods of entertainment from the home, with gaming PCs becoming a popular option. A desktop PC is often the preferred solution for many PC gamers due to its ability to house a more powerful processor and graphics card which in turn enables the system to run more demanding games. Demand for PCs set to remain strong. In the UK, the number of households with a computer was forecast to reach 26.5 million in 2023. Laptop and notebook devices will remain the favored choice of most buyers, though with 41 percent of UK households owning a desktop PC, it is a market that cannot be ignored. Computer peripheral suppliers can benefit from this sustained demand, with desktop PC owners requiring monitors, keyboards, and other accessories to get the most from their devices. The UK PC monitor and projector market alone is expected to be worth 596 million U.S. dollars in 2023, with a range of new peripheral devices such as advanced displays and headsets likely to be compatible with desktop PCs in the future.

Legal service providers across the world have had to consider ways of reducing their costs while creating new methods that are different from the competition – presenting additional challenges. Legal tech refers to the use of technology software and solutions to support the legal industry and provide legal services. In 2022, the global legal tech market was valued at 28 billion U.S. dollars, with the market set to increase further in the coming years. An array of technologies are being deployed to provide legal services at a cheaper, more efficient, and improved standard. Artificial intelligence, natural language processing, and robotic process automation are just some of the tools used to facilitate this, both in business-to-business and business-to-consumer settings. The post-pandemic recovery across the legal services industry. The coronavirus pandemic brought about new challenges in the way legal services were provided to customers. Due to restrictions on movement, collaboration tools and other digital solutions were adopted. Even in more traditional legal service settings such as courtrooms, hearings were switched to take place virtually through the aid of live streaming platforms. However, as the world returned to a new normal, a new, higher priority was given to the digitization of processes and data management. As a result, legal tech has the opportunity in the long term to make a positive impact on the activity of legal professionals. This includes improvements to the quality of work provided to clients, as well as a reduction in the time taken to complete tasks, freeing up capacity. The Big Four are recognized as leaders in legal tech. Important contributors toward the growth of legal tech have been Alternative legal service providers (ALSPs). An ALSP can be defined as any business providing legal services without being a law firm. Among the largest and fastest-growing ALSPs that have been able to obtain legal services licenses are Deloitte, EY, KPMG, and PwC – otherwise known as the Big Four. The types of service offered by ALSPs are even more complex, fueled in part by the pandemic and now, further economic uncertainty. The growth of alternative providers, including legal tech startups, will help to better facilitate the relationship between consumers and legal services. Supported by increased levels of adoption, the impacts of legal tech are set to be felt more extensively across the world. Tech-related investment is essential during a recession. In 2023, businesses must navigate a recessionary environment in addition to other economic, social, and political pressures. Lessons from the pandemic would confirm that companies that invest in legal tech in the lead-up to a period of economic difficulty tend to have higher revenue growth during the time of recovery following a downturn. As such, the growth of the legal tech sector provides an opportunity to change how legal services are delivered. The next-generation workforce immersed in a digital world, coupled with the growing demands for reduced costs and time savings, has resulted in firms facing increased pressure to adopt or develop legal tech solutions.

The role of the recruiting industry is to provide services that function as a bridge between demand and supply in the labor market, enabling information exchange among the parties involved. Diversified needs in the labor market created a complex industry that provides a multitude of services. In international comparison, Japan’s recruiting industry is one of the largest in the world. It is a multi-trillion Japanese yen industry that has shown substantial market growth in the past several years. The recruiting industry in Japan is comprised of four segments, which include dispatching, outsourcing, recruitment advertisement, and services by public or private placement agencies. Each of these segments contribute in their own way to a better-saturated labor market, servicing employers or employees. Dispatching involves a triangular relationship between the dispatching company, the dispatched personnel, and the hiring company. Outsourcing refers to business processes and services that are bought from other companies. Recruitment advertisements offer (virtual) meeting places for employers and job seekers, while private placement agencies seek to find talent that fits job requirements by micro-managing the application process, among other services. Every year the industry places millions of people in the Japanese labor market. Working conditions of dispatch workers. Working at a dispatching company is classified as irregular employment in Japan. In general, regular employment is considered to be desirable because it entails various benefits to employees, such as a comprehensive insurance system. On the downside, regular employees are often expected to “contribute” to the company by agreeing to overtime work or transfers to other branches. Employees opting for the services of dispatch companies circumvent the hassle of navigating through the job market, while often benefitting from flexible contracts. On paper, most contracts signed with dispatching companies involve less than eight hours of work per day and entail none or relatively little overtime work per week. Drawbacks of signing with dispatching agencies include relatively low wages, and a prevalence to frequently change the workplaces, as most employees work in fixed-term contracts that are no more than three months in length. In Japan, the majority of dispatched personnel work in the finance and insurance, manufacturing, or telecommunications industry. Fresh talent acquisition. Japan has a unique labor market. This is manifested, to offer an example, in the new graduate talent acquisition environment in which fresh talent is scouted and pre-emptively secured directly from universities. Informally called shushoku katsudo, fresh talent acquisition developed into a lucrative business that has a considerable market size. The industry segment operates as an information exchange platform and mediator between employers and prospective employees. The aim is to provide services that enable finding a good fit for all parties involved. The system contributes to a high employment rate of the newly graduated, as a substantial share of students find themselves with a regular employee position at graduation or shortly thereafter. While there are benefits to the system, critiques point out that there is a conflict between overzealous industry entities who seek to quickly secure strategic resources (acquisition of capable personnel), and the interests of educational institutions whose aim is to provide adequate education and broaden student’s views. The services offered to students by the recruiting industry are useful tools if one aspires to secure a regular job at or shortly after graduation, but it also creates an environment of conformity in which those who miss the signal at the starting line find themselves in danger of being left behind.

Smart home technology is becoming more common in Australia. Home automation lies at the core of a smart home. The ability to monitor or control home features such as climat e, lighting, appliances, and even security via a remote system has proved its value in reducing some of the inconveniences from the busy lives of many. Digitalization is continuing to transform the world, and smart home devices have become increasingly ingrained into our everyday lives. The smart home market in Australia was expected to reach over 4.5 billion U.S. dollars in revenue by 2026. What smart home devices are Australians using? Australians are no different from global smart home consumers. The main segments include comfort and lighting, control and connectivity, security, smart appliances, energy management, and home entertainment. Common smart home device brands owned by Australians include Samsung, Philips, Google Nest, Brilliant, and Ring. The product ranges consist of devices to control lighting, doorbells, locks, cameras, and thermostats among many other functions. Smart speakers are also becoming increasingly popular. In a survey conducted in 2022, around a quarter of respondents owned smart speakers with an integrated virtual assistant. Among the most owned smart speaker devices were Google Home (Google Assistant), Amazon Echo (Alexa), and Apple HomePod (Siri). A smarter outlook. The global smart home market is set to continue growing, with Australia following this trend. Smart home technology is developing at a rapid pace and looks likely to become more integrated as standard housing features for new homes built in the future. Tech companies including Apple, Amazon, and Google will likely be key market players in terms of full home automation. Along with making lives more convenient, the potential energy-saving benefits are also appealing to environmentally-conscience consumers. From more control over the energy sources used and automated efficient energy practices to smart windows that can transfer real-time weather data to a centralized home management system, these are just a few of the applications that may be normalized in homes of the future.

Instagram is a social photo and video sharing service that allows users to share and edit their own content. The number of monthly active Instagram users worldwide reached 600 million in December 2016. Russia, Turkey and the United Kingdom are among the top five countries with the most Instagram users. Instagram reached 22 percent of the UK population in the second quarter of 2016. In terms of age distribution among British Instagram users, they are predominantly young and more likely to be female. Roughly 55 percent are between 15 and 24 years of age. Of the entire population, 13 percent stated that they used Instagram daily or even multiple times a day. Instagram use in the UK is more common in higher income households. Other European countries show similar user profiles. Figures on Instagram use in Sweden by age group confirm it is much more widespread among younger audiences than among older ones. Data from neighboring countries shows a different case. The share of Instagram users in Norway grew in all age groups in 2016, except for the youngest. Regardless of the age of respondents, the share of female Instagram users in Norway is generally higher. The Netherlands show slightly different figures, here the share of Instagram users grew in all age groups. Usage frequency in different European countries also mirrors the data for the United Kingdom. Over 30 percent of Instagram users in Finland use the platform several times a day. The same is true for Instagram users in Denmark. An example of what users do most often on Instagram: Flemish users in Belgium commonly use the photo sharing service to consume content.

Consumer electronics, such as smartphones, laptops, tablets, PCs, televisions, and wearables, have become highly accessible in Thailand. As the number of middle-class Thai households grew over the years, so has the purchasing power for consumer electronics. While the revenue for consumer electronics in Thailand peaked in 2016, it is estimated to decrease continuously in the coming years. Key product segments contributing to Thailand's consumer electronics revenue growth included smartphones and televisions. Ownership of leading consumer electronics in Thailand. Without a doubt, smartphones are one of the most owned consumer electronics in Thailand. The penetration rate of smartphones in Thailand was forecast to reach more than 97 percent of the population by 2029. Some possible factors that led to this rise in smartphone usage may have resulted from an increase in the purchasing power of consumers and perhaps a wider variety of smartphones at different price ranges. Besides smartphones, televisions also have a high ownership rate, almost as much as smartphones. With the majority of Thai households owning a television, advertisers can easily contribute to the revenue generated in Thailand's TV, radio, and multimedia segment. The driving factors for demand in consumer electronics. During the COVID-19 pandemic, strict social-distancing regulations resulted in consumers adopting the 'new normal' way of life, leading to almost all daily activities being handled online, including schooling, remote working, online shopping, and mobile banking. This change in consumer behavior has made consumer electronics such as laptops, tablets, and wearables highly sought-after. On top of this, the introduction of 5G infrastructures in Thailand has created a greater demand for digital products and services. Faster and more efficient internet connectivity, as a result of 5G, has partially contributed to greater use of apps and online services since consumers and business owners can manage their operations and daily tasks faster than 4G connectivity. According to a survey on mobile device usage in Thailand conducted in August 2023, around 42 percent of respondents stated that they used a 5G connection all the time, while another 36 percent used the high-speed connection most of the time. This shows a high adoption rate of fifth-generation mobile networks in Thailand and ensures a better connectivity of consumer electronics.

Today, social media serves as a powerful tool for staying connected with friends and family, as well as a significant source of news, offering global information and live streaming. In Romania, social media, particularly among the younger generation, has not only revolutionized the way people connect but also made a substantial impact on political expression. It has played a significant role in protests and presidential elections, with the 2024 campaign of Călin Georgescu showing how online platforms can rapidly boost a candidate’s visibility and influence public opinion. By 2024, the country had 17.8 million internet users, with approximately 13 million of them active on social networks. Is Facebook losing popularity? In Romania, Facebook was the most popular social media app, with a usage rate of 87 percent and a possible ad reach of 9.9 million users. Besides maintaining contact with others and utilizing functions such as Facebook Messenger, the social media platform is influential due to its content-sharing capabilities. In other words, Facebook is considered the most commonly used news source among Romanian users. Despite its leading position in terms of users, Facebook is gradually losing ground to platforms like Instagram and TikTok. These platforms, particularly Instagram, are gaining traction, especially among younger demographics, due to their appealing photo- and video-sharing concept. Although the number of Facebook users in Romania is more than double the number of Instagram users, the latter boasts a significantly higher engagement rate in terms of photo and story sharing. This shift in user preferences hints at an exciting future for social media in Romania. The rise of TikTok. TikTok rapidly differentiated itself from other social media platforms by its unique content form, initially displaying 15-second videos. This distinct feature, along with its user-friendly interface, contributed to its rapid rise. TikTok has also been welcomed in Romania with great enthusiasm. In 2024, the TikTok app was downloaded over 3.5 million times. The most popular TikTok account belongs to @aureliadobre, with 7.1 million followers and over 116 million likes, as of September 2025. In October 2020, the social media app generated nearly 1,000 U.S. dollars in revenue in Romania; one year later, TikTok recorded a monthly revenue of roughly 3.9 million U.S. dollars in the same country. In 2024, the yearly revenue reached over 27.4 million U.S. dollars, recording a growth of over seven times in less than three years. The future of social media apps remains extremely promising due to their entertaining and educational content, as well as new services like TikTok for Business. The new service was introduced in Romania in May 2021 to support companies' marketing strategies and presence on TikTok.

Navigating the competitive consumer electronics (CE) industry is no easy thing, and yet the Chinese company OPPO is quickly climbing the ladder to find its place in the profitable CE market, which is forecast to record revenues of over one trillion U.S. dollars in 2024. The firm manufactures several types of smart devices, from smartphones to power banks and from smartwatches to headphones. Furthermore, in its attempt at global success, OPPO is trying to stay ahead of the tech innovation curve, also entering more niche sub-markets, such as the foldable smartphone industry. OPPO becomes one of the top 5 smartphone vendors. Founded in China in 2004, OPPO has quickly grown into one of the major smartphone vendors in its home market. In 2021, the company announced the acquisition of another popular Chinese smartphone brand, OnePlus. Over the years, OPPO imposed its presence also in the global smartphone industry to the extent that the company has become one of the five leading smartphone vendors in the world, recording shipments of just under 90 million smartphones in 2023. To this success contributes the vast array of smartphone models offered to consumers, such as the Reno series, the X series, and the foldable N series, which includes the OPPO Find N3, priced at less than 1,500 U.S. dollars. OPPO faces tech giants head-on in the CE market. In the consumer electronics industry, OPPO competes with valid rivals. Particularly, Apple and Samsung have led and still lead the global smartphone market, recording the highest shipments every year. Over time, smaller companies have acquired larger slices of the smartphone market. OPPO is one of them, accounting for just under ten percent of the global smartphone shipments in early 2024. OPPO gained popularity in every continent, even if at different ratios. For instance, it accounted for a larger share of the Asian smartphone market, but controlled a lower portion of the European smartphone industry. OPPO is also active in the smartwatch and headphone markets. The devices vary in terms of functionalities and prices, with examples including the OPPO Watch X and the earbuds OPPO Enco Air3i. The Chinese company is still far from being among the key smartwatch and headphone vendors, leaving the podium to Apple, Xiaomi, and Samsung. Yet, the company is likely to keep innovating their products and services, attracting an increasingly higher number of customers and striving for a greater role to play in the global CE market.

Once considered a privilege, working from home has now become a critical factor in employment decisions, thanks to the digital revolution and the transformation of our economy. The COVID-19 pandemic merely accelerated what was already changing - the way we work and where we work from, making remote work and hybrid work possible for employers and employees. Remote work is here to stay. In the wake of a digital revolution that has reshaped the professional landscape globally, an intriguing trend has emerged. The share of employees working remotely worldwide increased significantly in recent years, rising from 20 percent in 2020 to 28 percent by 2023. The technology industry had the highest share of employees working primarily remotely by industry, with 67 percent of employees reporting so. Remote work offered different benefits to employees, such as a flexible schedule and flexibility to live anywhere. Nonetheless, remote work also came with its challenges. Staying at home too often and loneliness were the leading struggles with working remotely in 2023. Despite those challenges, remote and hybrid work remain the preferred work structure for most employees globally, with 91 percent of employees reporting that they preferred either a fully or an almost remote work structure. Employers’ responses to remote work: return-to-office mandates. In 2023, large and medium tech organizations worldwide tended to require their employees to work from the office three days per week. Tech giants including Google, Apple, Meta, Amazon, and Microsoft among others have implemented return-to-office mandates requiring employees to be in the office at least three days per week. Employers globally had different concerns regarding working remotely. Enabling effective collaboration and maintaining an organizational culture were among the leading concerns that tech leaders had with hybrid work in 2023. Therefore, it is no surprise that maintaining an organizational culture, facilitating collaboration, and real estate investments were among the leading reasons driving return-to-office mandates worldwide in 2023. This in and of itself didn’t come without its challenges. In the same year, 21 percent of employers reported that resistance from their employees to return to the office was enough impact to review their remote work policy. Looking ahead, it is clear that remote work is not just a temporary trend, but a fundamental shift in the way we approach work. The digital revolution and the COVID-19 pandemic have accelerated this transition, making remote and hybrid work the new norm.

In the digital era, almost everyone uses a smartphone to stay online. Hong Kong has one of the highest smartphone penetration rates in Asia. Over 95 percent of people over ten years old in Hong Kong owned a smartphone, roughly translating to seven million people owning a smartphone. With several major telecommunications service providers active in the market for years, the smartphone and telecommunications markets in Hong Kong are very mature. Leading smartphone brands. Hong Kong’s immediate neighbor, mainland China, had a smartphone market that was dominated by domestic smartphone manufacturers like Honor, Huawei, Oppo, and Vivo, with a total market share for all four of over 60 percent. However, the smartphone market in Hong Kong is more internationally oriented, with Apple and Samsung being the market leaders with a combined market share of almost 70 percent at the end of 2024. In particular, the Apple iPhone has been the absolute favorite device among Hong Kong residents; it managed to keep the leading position in the market in the last few years with over 46 percent of market share. Telecommunication technology. In terms of technology, most of the mobile internet connections in Hong Kong were already utilizing 4G services as of 2023, with around 90 percent of mobile internet connections using at least 4G technology. This figure translated to around 23 million mobile 4G subscribers in total. The city is also upgraded to 5G. In 2019, the government of Hong Kong has announced that a 5G service will be launched in 2020 and has already achieved significant coverage. An internet metropolis. The share of households in Hong Kong which were connected to the internet at home via a smartphone exceeded 99 percent, indicating an extremely heavy reliance on smartphones for internet access. Moreover, smartphone penetration rate reached over 99 percent among consumers who obtained post-secondary education, and the penetration rate was higher among women at a younger age than their male counterparts and the lowest among older population in the society.

The Xbox brand represents a significant milestone in the evolution of video gaming. As part of the Xbox is a video game brand created by  Microsoft, the Xbox console is the most widely known product under the Xbox umbrella, with the first Xbox console released in North America in 2001, and worldwide the following year. Since then, Microsoft has released a further four video game consoles –  Xbox 360, Xbox One, Xbox Series X, and Xbox Series S. In addition to Xbox gaming hardware, the Xbox brand also consists of applications (games), streaming services, and an online service platform  Xbox Network  that allows users to play multiplayer games, chat, and watch digital content. Microsoft also has its own video game development arm called Xbox Game Studios. Microsoft launches disc-less Xbox Series X, adds AI features to platform. Microsoft released its latest video consoles in 2020, the  Xbox Series X and Series S, only two days before the release of the  PlayStation 5. Both the Xbox Series X and Series S launched with solid-state drives to enhance loading times and support 4K resolution, with the Series X capable of up to 120 frames per second. The Series S is a digital-only model without a disc drive, directly competing with Sony’s PS5 Digital Edition. In 2024, Microsoft unveiled a new disc-less variant of its powerful Xbox Series X console. The new white all-digital edition retains the same internal hardware specifications as the standard black Xbox Series X, ensuring an identical level of performance for games. Moreover, Microsoft announced in late 2024 the introduction of an artificial intelligence (AI) -powered chatbot for Xbox, aimed at providing efficient support for users, alongside plans to implement AI-driven natural language search capabilities for the Xbox dashboard. Xbox competes for console supremacy. PlayStation 5 was the  best-selling video game console worldwide  in 2023, selling over 21 million units across the globe, followed by the Nintendo Switch and the Xbox Series X/S, respectively. Of the  all-time sales of video game consoles, Microsoft registers just one device, the Xbox 360, in the top ten. The Xbox Series X and Series S have sold nearly 33 million units as of July 2025 since their release. Looking at the top of the list, Sony registers two of its products in the top five, with  Nintendo ’s Switch, DS, and Game Boy devices making up the rest. In terms of lifetime sales, Sony has sold over twice as many of its PlayStation 4 consoles compared to the Xbox One – a trend that is expected to continue with the latest generation of PlayStation and Xbox consoles. Overall, Xbox remains a significant player in the global gaming console market. As Microsoft continues to innovate its hardware and integrate advanced AI features, the Xbox brand is poised for further growth and enhanced user engagement.

Smart appliances, that is, appliances either interconnected via networks or that display advanced capabilities beyond their more analog counterparts, are becoming ever more prevalent across the globe. Driven by advances in connectivity, such as 5G, or advances in machine learning AI, these devices are becoming more capable and innovative each day. These can be as simple as washing machines with load-adjusted cycles, or more advanced, such as refrigerators that keep track of and calculate their contents. Smart appliances market steady and stable. Smart appliance revenue per user has been  steadily decreasing since 2021 and is forecast to keep decreasing as the number of users grows and the associated costs for acquiring a smart appliance decrease. This is a common trend within all new markets: as supply begins to catch up t demand, the revenue per customer drops.   Smart appliances, however, are the most dynamically growing segment in the smart appliance market with projected revenues of more than 60 billion U.S. dollars in 2024, an increase of 20 percent compared to the previous year. In 2024, China is expected to account for more than  17 billion U.S. dollars in smart appliance revenue. China is the world’s largest market for smart appliances ahead of the United States, a trend that is expected to continue in the future. Other notable smart appliance markets are Japan, South Korea, and the United Kingdom. Consumption & household penetration. As the market for smart appliances continues to grow, household penetration is naturally rising as well. While around nine percent of  households worldwide owned a smart appliance  in 2024, this share is forecast to nearly triple over the next five years. The adoption of smart appliances varies though from country to country. For instance, the  ownership rate of smart appliances  in India, China, and South Africa is significantly higher than in European countries like France, Germany, and the United Kingdom. Smart appliances no longer novelty but the norm. As ownership of smart appliances and the digital evolution of the household appliance industry continues it becomes clear that smart appliances will simply become what constitute normal household appliances. Declining revenue per user and growing penetration rate demonstrates a clear picture of how widespread the smart appliance market is, underscoring the likely trend that smart appliances are here to stay.

Business services are an accumulation of activities facilitating the smooth running of an operation. Leading business services are markets research, consulting, IT services as well as staffing and employment services. The sub-sector of market research globally had a revenue projection of 82.6 billion U.S. dollars in 2022. In the Middle East and Africa, around 3.85 billion U.S. dollars was generated for the market research sector. In comparison, the United States alone was responsible for 48 billion U.S. dollars of revenue worldwide in this sector. Although the global market research industry grew overall worldwide by 0.3 percent in 2020, in the Middle East and Africa it declined by 10.4 percent. Consulting industry. The consulting segment of business services was recently valued at 3.3 billion U.S. dollars in the Gulf Cooperation Council region. Within the region, Saudi Arabia lead in terms of market size in the region. The leading consulting services implemented in the Gulf Cooperation Council were in the segments of technology, strategy, and operations. Furthermore, consulting firms play an important role for companies and businesses outside of the Middle East, which need advice and business intelligence support to enter the Middle Eastern market and manage the associated risks. Import and export of business services in the Middle East. The supply of business services is no longer tied to a fixed location thanks to technology and the internet. The service industry in the Middle East and North Africa is also integrated in the global trade. Saudi Arabia was the leading importer of business services within the Middle East and North Africa, while the emirate of Qatar was the leading exporter of business services in the region.

Accenture is a global management consulting and professional services company known for its expertise in technology, strategy, and consulting services. The company has existed in the realms of the "Big Four" accounting/audit firms, however is not considered as one of them. This was despite the revenue of Accenture plc worldwide being able to rival any of Deloitte, KPMG, PwC, or EY in 2024. This could be because Accenture has focused its efforts more on digital transformations and IT rather than a more general approach to the consulting industry. Operating groups and business lines - where Accenture excels. Accenture has had five main operating groups since 2010. The revenue of Accenture by operating group has been split up as follows: products; health and public service; communication, media and technology; financial services; and resources. The highest turnover in 2024 came from their products operating group. The revenue of Accenture by business line has been broken down into consulting and managed services, with the latter often referred to as outsourcing. Since 2010, their consulting business line has earned more than outsourcing. An industry that shows no signs of slowing down. The average revenue per employee of management consultancies worldwide has not dropped below 172,000 U.S. dollars since 2017. Furthermore, the same revenue when applied per consultant of management consultancies proved to be even higher. The average revenue here did not drop below 208,000 U.S. dollars since 2017. The market size of the industry where Accenture has been particularly involved the IT consulting industry has been growing steadily since 2012. In 2024, the market size of the IT consulting industry in the United States alone was worth approximately 715 billion U.S. dollars.

As a country with one of the highest internet usages in the Asia Pacific region, demand for sophisticated communication gadgets has seen growth in the Philippines. Thanks to the expansion of income sources and the growing middle-class population, Filipino consumers have higher purchasing power that allows them to splurge on various necessities, including but not limited to electronic devices. These devices are increasingly important in making life more efficient, convenient, and comfortable for users. Such gadgets, which comprise the consumer electronics industry, include mobile phones, tablets, personal computers, televisions, wearables, cameras, speakers, and headphones. In the Philippines, this sector was forecast to demonstrate continued growth in the next five years, as evidenced in its revenue estimates. Consumer trends. The mobile device market is the largest subsector of the consumer electronics market in the Philippines, with over 79 million people owning a smartphone device. The current demand for 5G technology is among the major contributing factor to the growth in the smartphone landscape, with telecommunication companies planning to build additional infrastructures to boost internet connectivity. At the same time, low-cost smartphone brands have also started offering 5G-capable devices to satisfy Filipino consumers. In addition, the coronavirus (COVID-19) pandemic resulted in hybrid work and blended learning modalities which fueled personal computer and tablet demand. As such, the penetration rate of tablet users in the country was forecast to surpass 43 percent in 2026, a significant increase from the 2017 figures. Other popular electronic devices owned by Filipino consumers were game consoles and smartwatches. Sales channels for electronic products. While an increasing proportion of sales in the consumer electronics market in the country has been occurring online, brick-and-mortar stores remain the most used purchase channel for electronic products. These stores offer gadgets across all product ranges while offering other related services for their consumers. Retail stores also invested in their digital presence to cater to their growing online clients. As of the first quarter of 2022, Kimstore was the leading e-commerce site for electronic products according to the number of monthly web visits. Apart from specialized gadget stores, major e-commerce sites such as Lazada and Shoppee offer a wide range of consumer electronic products.