In 2023, the actual business enterprise R&D expenditure in the manufacture of coke and refined petroleum products in the US stood at approximately 1.14 billion US dollars PPP. From 2024 onwards, the forecast indicates a gradual decline in expenditure, reaching 1.11 billion US dollars PPP by 2028. This consistent decline represents a year-on-year decrease of about 0.88% from 2024 to 2028.

The compound annual growth rate (CAGR) from 2024 to 2028 is expected to be around -0.44%, highlighting a modest but consistent downtrend in research and development spending in this sector.

Future trends to watch for:

Technological advancements in alternate fuel sources impacting investment in traditional petroleum R&D.
Policy changes and environmental regulations may further influence the allocation of funds towards sustainable energy solutions.
Evolving market dynamics could necessitate adaptation and innovation, possibly affecting future R&D expenditure forecasts.