In 2023, China led the global R&D expenditure in the manufacture of coke and refined petroleum products, with spending of $5.08 billion, showing an 8.13% increase from the previous year. The United States followed with $1.14 billion, though it saw a slight decrease of 2.19%. South Korea and Japan, with $0.52 billion and $0.45 billion respectively, also faced declining trends. European countries such as Germany and the United Kingdom experienced marginal gains or stable growth. An outlier was Canada, with a significant 19.91% increase, whereas nations like Spain and Iceland showed decreases.
Future trends to watch include rising investments in sustainable and alternative energy R&D, likely driven by environmental policies and technological advancements. Countries leading in innovation may focus on decarbonization and energy efficiency, impacting global trends in manufacturing and research priorities.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Coke and Refined Petroleum Products by Country
| # | 10 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 5,080 | 2023 | +5.45% | +8.13% | View data |
| 2 | 2 United States | 1,140 | 2023 | -0.44% | -2.19% | View data |
| 3 | 3 South Korea | 521.81 | 2023 | +3.57% | -5.65% | View data |
| 4 | 4 Japan | 449.39 | 2023 | -0.0047% | +0.12% | View data |
| 5 | 5 Germany | 203.68 | 2023 | +2.47% | +0.026% | View data |
| 6 | 6 Taiwan | 194.66 | 2023 | +3.03% | +6.83% | View data |
| 7 | 7 United Kingdom | 157.28 | 2023 | +4.39% | +4.37% | View data |
| 8 | 8 Spain | 104.09 | 2023 | +0.22% | -4.08% | View data |
| 9 | 9 Canada | 94.52 | 2023 | +11.6% | +19.91% | View data |
| 10 | 10 Portugal | 21.43 | 2021 | View data |
