Manufacturing

• [New] Future oil prices will depend on whether low-cost producers hold back production, since a nation like America or Saudi Arabia can easily flood the world with oil for years, and still make a profit at prices of less than $45 a barrel.
• [New] The rise of cognitive computing, AI, and data analytics in IoT technology is anticipated to create new opportunities for the global IoT in energy market.
• [New] Reduction targets have been set, including Sustainable Development Goal (SDG) 12.3, which aims to halve per capita food waste at retail and consumer levels globally by 2030, as well as reduce food losses along production and supply chains.
• [New] More vehicles will be produced in U.S. and Mexico, leading to an increase in Mexico exports to U.S.
• [New] The production of vehicles and parts in Mexico will continue to increase, while Canada's vehicle exports to U.S. will decrease further, due to decreased competitiveness compared to U.S. and Mexico automotive sectors.
• [New] The production stoppage has caused a major supply disruption for automakers around the world already hit by a chip shortage due to the coronavirus pandemic.
• [New] The EIA expects OPEC + to increase production from 25.3 million bbl/d in April to an average of 27.9 million bbl/d in the second half of 2021 to meet increased demand.
• [New] The start-up of the tight gas and condensate Ghazeer field gives Oman the opportunity to rebase its economy from exports towards value-added products.
• [New] The underground expansion will push annual production to nearly 500,000 tonnes per year, making it among the world's biggest copper mines.
• [New] China, the world's second largest economy, is forecast to reach a projected market size of US$ 866.3 Million by the year 2027 trailing a CAGR of 13.9% over the analysis period 2020 to 2027.
• [New] U.S. crude production will average 10.9 million b/d in the second quarter and increase to nearly 11.4 million b/d by the end of the year.
• [New] Growth in U.S. natural gas production remains subdued, with limited growth even for associated natural gas, based on what we expect to be a slow recovery in oil production volumes in 2021.
• [New] The chip shortage is extending into the second quarter and will cause further vehicle production losses; North American vehicle production is expected to total 15.8 million units in 2021.
• [New] General Motors Co. will halt production at several North American factories and extend shutdowns at others because of a chip shortage that has been worsening for U.S. auto giants and poses a threat to a strong sales rebound.
• [New] Labour-saving technology increases productivity, but a rapidly growing service sector for elder care will absorb workers displaced by automation, which does not work for elder care.
• [New] China's plans to lower its crude steel production in 2021 could be challenged by the resultant high steel prices incentivizing mills to lift their operating rates, which would offset output reductions elsewhere, S&P Global Platts in a note.
• [New] By 2025, 50% of industrial enterprises will use industrial Internet of Things (IIoT) platforms to improve factory operations, up from 10% in 2020.
• [New] Asia Pacific Region is expected to have a major market share in the coming years, owing to the presence of a large manufacturing sector for food packaging, automotive, energy, and other applications.
• [New] Gartner forecasts the highest growth will come from devices such as laptops, desktops, tablets, and mobile phones and enterprise software (up 10.8%) as organisations shift their focus to providing a more comfortable, innovative and productive environment for their workforce.
• [New] Volvo will start manufacturing the first concept vehicles and machines with steel from SSAB using hydrogen already in 2021.
• [New] Volvo plans in 2021 to start the production of concept vehicles and components from steel made by SSAB using hydrogen.
• [New] Over the next several years, Globo will use Google's experience in data management, artificial intelligence and machine learning, as well as its global, scalable and secure infrastructure, to support the communications company's digital evolution.
• [New] Nestle has two major plant-based manufacturing plants in the Asia Pacific region, one in China and one in Malaysia, but Nestle Japan has revealed that apart from the NESCAFE Dolce Gusto capsules, all the other NESCAFE plant-based products will be exclusively local from production to retail.

Last updated: 11 April 2021