You’ve probably heard the term “basic industries” if you’re looking for a new job, trying to decide on a college major, or considering businesses to add to your portfolio. me.
The North American Industrial Classification System (NAICS) classifies approximately 6 million U.S. businesses as “baseline industries,” and these businesses employed more than 136 million people in 2019, according to the Bureau of Labor Statistics. The USA. More than 300 stock mutual funds, index funds, and exchange-traded funds are offered in the market by businesses of this category.
However, what companies are in the basic industries field? This article explores the subcategories of the underlying industry sector, what qualifies a company for membership, and whether working in the field is a viable career path.
- Meaning Of Basic Industries
- Types of Basic Industries Enterprise
- What Companies Are In The Basic Industries Field?
- Is Basic Industries a Good Career Path?
Meaning Of Basic Industries
Before learning about the question of what companies are in the basic industries field, you need to learn about the basic industry. Raw materials and energy resources needed for production in other sectors are provided by basic industries. Because they are essential to creating essential goods and services, businesses in basic industrial sectors often sell products directly to manufacturers rather than customers. For example, the production of cars and equipment sold directly to customers depends on the steel sector.
Basic industries are highly dependent on natural resources, so commodities such as metals, fuels, and edible crops are often produced with the aim of targeting export rather than domestic markets. Key commodities can sometimes be used as a form of economic leverage or as a way to encourage international trade alliances.
Types of Basic Industries Enterprise
Primary industries are those that produce raw materials or intermediate goods that are later used by other sectors of the economy to produce finished products. A few examples of these industries are manufacturing, mining, and agriculture. The main areas of this company include:
- Oil and gas: They have been an important source of energy since the 19th century. Heat and electricity are usually generated by burning oil for fuel. Similarly, pipelines are used to transport and extract natural gas.
- Agriculture: This is the field concerned with the cultivation of plants for the specific purpose of providing food. The United States has devoted about half of its territory to agricultural use. Soybeans, wheat, and corn are produced in abundance in the Midwestern United States.
- Mining: This is the process by which the earth’s natural resources, like minerals, metals, and coal, are removed. About $82 billion in unprocessed minerals were extracted by American miners in 2020.
- Steel: It is a common building material due to its durability, malleability, and affordable price. At temperatures above 2,600 degrees, iron and carbon are combined to create this metal. It is necessary for the construction of buildings, automobiles, and other infrastructure.
The paper and pulp: Products including office paper, printed materials, cardboard, and packaging are made in this business using wood materials. This industry is responsible for 33–40% of all wood products traded internationally and around 14% of global wood consumption.
The chemical industry: provides a variety of gas and chemical products to industry. These include synthetic or laboratory-produced substances like polyethylenes, elastomers, gels, and adhesives.
What Companies Are In The Basic Industries Field?
To answer the question what companies are in the basic industries field, we will bring you a list of 10 “big guys” in the basic industries. The leading companies in the Basic Industry sector are those that are well established and are able to retain their market share.
They were able to adapt to customer expectations and changing fashion trends. These businesses have managed to maintain an edge over their competitors for a considerable amount of time.
1. BASF ( E.I.)
One of the largest chemical companies in the world, BASF has been in business since 1865. It is a multinational company with annual sales of 65 billion Euros and more than 110,000 employees globally.
Friedrich Engelhorn, the son of a pharmacist, founded BASF in Ludwigshafen, Germany, in 1865. BASF manufactures agrochemicals, polymers, coatings and other specialty chemicals used in the manufacture of products. Products such as paints, food additives, and soaps are used in everyday life. In addition, it produces goods for industry, including dyes and pigments.
The head office of the enterprise is located in Ludwigshafen am Rhein in Germany. With the exception of Antarctica, BASF has manufacturing operations on every continent. This must be a good answer to the topic of what companies are in the basic industries field, right?
- Market Cap: €56.9B (2021)
- Revenue: €78.6B (2021)
- Net Income: €5.5B (2021)
- Number of Employees: 111,047 (2021)
2. Akzo Nobel N.V
Definitely mention this name when asked the question “what companies are in the basic industries field”. The industry leader in paints, coatings and chemicals with a focus on innovation is Akzo Nobel. They have been in business for four centuries and are today the largest paint manufacturer in the world.
An international paint manufacturer focused on innovation Akzo was founded by Nobel N.V. Coenraad Johannes van der Parren van Amsbergen, a Dutch businessman in 1867, and it has been active and flourishing ever since. Currently, Akzo Nobel is the largest paint manufacturer in the world.
Paints, coatings and chemicals manufactured by Akzo Nobel are used to protect structures from pollutants, corrosion, weather and other external influences. The business also sells eco-friendly items including “green” coatings that cut harmful emissions while providing UV protection.
- Market Cap: $20.49B (2021)
- Revenue: $11.342B (2021)
- Net Income: $0.981B (2021)
- Number of Employees: 32,800 (2021)
3. General Electric Co
General Electric is a global holding company with its main office in Fairfield, Connecticut, in the United States.
In 1892, Henry Ford and Thomas Edison formed General Electric. On the Fortune 500 list of the biggest corporations in the US, it comes in at position #45.
General Electric Co. (GE) is a holding company for American multinational conglomerates with its headquarters in Fairfield, Connecticut. The company operates through three segments: Power & Water, Renewable Energy, and GE Aviation Systems & Services.
- Market Cap: $116.5B (2021)
- Revenue: $74.196B (2021)
- Net Income: $-6.757B (2021)
- Number of Employees: 168,000 (2021)
The international company Ecolab was established in 1923 and offers services in geothermal energy, chemical processing, food and beverage processing, pulp and paper production, water treatment, mineral processing, and mining.
The corporation has approximately 170 locations worldwide and employs about 50,000 employees. Many tech-related positions, such as software engineer, system engineer, and solution architect, are available to applicants.
- Market Cap: $67.22B (2021)
- Revenue: $12.733B (2021)
- Net Income: $1.13B (2021)
- Number of Employees: 47,000 (2021)
5. PPG Industries
The chemical company has net sales of nearly $17 billion in 2021 and ranks 218th on the Fortune 500 list. The industrial and construction market is supported by PPG Industries’ primary manufacturing activity in paints and coatings. , optical goods and special materials.
PPG employs approximately 50,000 people, 21,300 of whom are based in North America. The organization offers a variety of IT and technology jobs, such as those for IT security managers, Linux infrastructure engineers, and application development specialists. If you are interested in chemicals, this is the best answer for you on the question what companies are in the basic industries field.
- Market Cap: $40.93B (2021)
- Revenue: $16.8B (2021)
- Net Income: $1.44B (2021)
- Number of Employees: 27,500 (2021)
6. DuPont ( E.I.)
This is a name that must definitely be mentioned when discussing the topic of “what companies are in the basic industries field”. More than 170 years have passed since the founding of DuPont. It is one of the largest chemical companies in the world and is famous for producing a wide range of goods, such as Teflon, Kevlar and Lycra.
The DuPont company is well known for its designer clothing lines, and in 2008 they launched their first apparel collection under the brand “DuPont”. Pierre Samuel du Pont de Nemours founded the DuPont Company in 1802 to manufacture gunpowder, but it gradually diversified into other markets such as textiles, chemicals and plastics.
The DuPont Company began manufacturing polymers in the 1950s, and as a result they are now one of the major manufacturers of polymers worldwide. In 2018, the Fortune 500 list of the largest US companies included DuPont Company.
- Market Cap: $41.85B (2021)
- Revenue: $16.65B (2021)
- Net Income: $6.467B (2021)
- Number of Employees: 28,000 (2021)
7. Arkema Inc
Plastics, industrial chemicals and other materials are the specialty products of the French chemical trading company Arkema. It is one of the largest chemical companies in the world (an excellent answer to the question “what companies are in the basic industries field”).
Eugène Schueller founded Arkema Inc. in 1872, and it has been a publicly traded enterprise since 1969. The company is headquartered in La Courneuve, France and employs approximately 10,000 people worldwide.
Chemicals for the manufacture of plastics, industrial chemicals, functional materials for coatings, electronics, paints and adhesives, healthcare goods for cosmetics and pharmaceuticals, building materials for industrial projects such as bridges and highways, and renewable energy are Arkema’s main business areas.
Arkema launched a self-sustained initiative for environmentally responsible development in 1998. “Sustainable Business Development”, “Sustainable Governance” and “Sustainable Social Environment” are the three program guidelines. The enterprise has obtained the certification of environmental management system according to ISO 14001 standard.
- Market Cap: $10.37B (2021)
- Revenue: $11.262B (2021)
- Net Income: $1.549B (2021)
- Number of Employees: 20,200 (2021)
The British Lever Brothers soap company and the Dutch Margarine Unie company were combined to form Unilever in 1929. The international company manufactures consumer products like food, cleaning supplies, and toiletries.
Ben & Jerry’s, Dove, Vaseline, and Hellmann’s are just a few of the well-known brands that belong to Unilever, whose goods are sold in 190 nations and used by 3.4 billion people worldwide. Careers like IT innovation lead, consumer development IT executive, and Apple MAC and smartphone technical analyst are available to professionals looking for IT jobs at Unilever.
- Market Cap: $136.65B (2021)
- Revenue: $62.047B (2021)
- Net Income: $7.157B (2021)
- Number of Employees: 148,000 (2021)
9. Honeywell International Inc
In the fields of aircraft, building technology, and industrial products, Honeywell International Inc. is a world leader.
The business’s main office is in Morristown, New Jersey. Print order to create Gore-Tex fabric for waterproof apparel, W. L. Gore and Associates established Honeywell International in 1968 as the Gore-Tex Company. This is a good answer if you are interested in the field of construction and assembly when discussing the topic “what companies are in the basic industries field”.
- Market Cap: $143.54B (2021)
- Revenue: $34.392B (2021)
- Net Income: $5.542B (2021)
- Number of Employees: 99,000 (2021)
10. BHP Group Limited
When discussing the topic “what companies are in the basic industries field” this is definitely the company that will be mentioned. Coal, copper, iron and nickel are among the minerals produced by the Australian-based mining and petroleum company. In Australia’s New South Wales, Broken Hill Proprietary Company Limited (BHP) was established in 1885.
Total business earnings peaked at nearly $21 billion in 2011, and as of 2017, BHP is the largest mining company in the world. Nearly 32,000 people work for BHP worldwide as of 2019, and many of them have advanced engineering and technical positions including geoscience systems specialist, data modeling engineer main and expert technology engineer.
- Market Cap: $152.29B (2021)
- Revenue: $60.817B (2021)
- Net Income: $13.451B (2021)
- Number of Employees: 80,000 (2021)
Is Basic Industries a Good Career Path?
This is definitely a top concern when you raise the question “what companies are in the basic industries field”.
Not everyone is suitable for careers in the basic industries. It has to do with not only the profession but also the lifestyle that goes with it. The physical and mental endurance required for careers in basic industries is substantial.
Additionally, you must be willing to work long hours, which can be challenging for some. This is a career path that some may find unsuitable but ideal for others.
The basic industry is one of the industries with a long history and always attracts a lot of interest from new workers. The following is a list of the leading companies in this field. However, if you decide to pursue this industry, you need to do your due diligence and see if you are a good fit for this industry as some of the requirements of this industry require a lot of effort.