In 2023, China's R&D expenditure on coke and refined petroleum products topped globally at 4.96 billion USD PPP, growing by 7.63% year-on-year. The U.S. saw a decline of 4.46%, while South Korea and Japan also faced reductions of 5.61% and 0.85% respectively. Germany saw a slight increase of 1.87%, and Canada's substantial increase of 19% is notable. Over the past five years, many countries experienced varied investment patterns, with fluctuations reflecting individual national priorities and economic climates.
Future trends to watch for include the impact of green energy transitions, innovations in refining technologies, and geopolitical influences. Countries heavily investing in sustainability and innovative refinements are likely to lead future R&D growth.
Key insights into these fluctuations can aid in predicting shifts in global market dynamics.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Coke and Refined Petroleum Products by Country
| # | 10 Countries | Million US Dollars PPP = 2015 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 4,960 | 2023 | +5.33% | +7.63% | View data |
| 2 | 2 United States | 977.8 | 2023 | -1.93% | -4.46% | View data |
| 3 | 3 South Korea | 497.63 | 2023 | +3.28% | -5.61% | View data |
| 4 | 4 Japan | 429.38 | 2023 | -0.61% | -0.85% | View data |
| 5 | 5 Germany | 201.05 | 2023 | +4.81% | +1.87% | View data |
| 6 | 6 Taiwan | 177.92 | 2023 | +2.5% | +5.06% | View data |
| 7 | 7 Spain | 92.36 | 2023 | -0.34% | -4.85% | View data |
| 8 | 8 Canada | 84.5 | 2023 | +10.63% | +19% | View data |
| 9 | 9 Poland | 62.31 | 2023 | +16.22% | +8.95% | View data |
| 10 | 10 Portugal | 18.77 | 2021 | View data |
