Basic industries refer to the sector committed to creating products that fill essential human needs such as hydration, apparel, housing, etc. This might make you wonder what companies are in the basic industries field and what career options you can make out of it– go through this article to get your queries solved.
What are Basic Industries?
Basic industries refer to those companies that discover and process raw materials and supply them to other sectors to produce final goods. Iron and steel, paper, wood, milling, chemicals, and non-material minerals like marble and granite are all examples of basic industries.
Which Industries are Basic Industries?
The term “basic industry” is meant to be inclusive of all valuable industries. Natural resources, agriculture, textiles, apparel, home improvement goods, iron and steel, etc., are considered basic industries. Basic industries are the lifeblood of any economy, as they generate income and supply necessities like food, materials, energy, and transportation.
What are the Types of Basic Industries?
Agriculture is the principal supplier of raw materials and the major contributor to a nation’s food supply. The sector comes under basic industries as it affects everyone’s life directly or indirectly.
On the other hand, agriculture is particularly important in still maturing economies.
Oil and Gas Industry
The Oil and Gas industry is the largest global basic industry. It has three main segments, 1. Upstream (where companies focus on discovering and producing gas and oil), 2. Midstream (refers to the companies that transport, process and store oils and gases) and 3. Downstream (where impurities in oils and gases get removed and get ready for general use).
In order to supply raw materials to companies that rely on minerals, mining is an essential activity that takes place all over the world. In mining, there are essentially two distinct stages to any given project. The first one, the “exploration and feasibility” phase, is where mineral anomalies are detected and sampled. In the second or the “building and preparation” phase, permits get obtained, and mines get improved.
Steel and iron are the primary requirements of any construction project and hence the industry plays an important part in the progress of the world.
The chemical industry is responsible for transforming raw materials into gas and other chemical solutions. The chemicals can be classified into three categories such as specialty chemicals (household paint, printer ink), basic chemicals (polymer, petrochemical), and consumer chemicals (detergent, soaps, bleaching powder).
Paper and Pulp Industry
Another growing basic industry example is the paper and pulp industry. Apart from producing graphic papers for printing, this industry caters to other requirements, such as packaging and hygiene products. On the other hand, pulp gets used in the textile industry.
10 Best Companies in the Basic Industries Field
Following is the list of some of the best companies in the basic industries field.
1. Chevron Corporation
Chevron Corporation is one of America’s well-known firms that produce oil and gas. It has its headquarters in Richmond, California. The produce of this corporation is around a million barrels to meet the world’s transportation fuel on a daily basis.
It has more than 77,000 employees from across the globe that work in various mills spread across over 50 countries. In the last year, 2021, the Corporation earned up to $155.61 billion.
The job roles in this corporation range from IT workers to human resources, finance, engineering requirements, and more.
2. Procter & Gamble Company
Procter and Gamble is an American multinational corporation that produces consumer goods. It is headquartered in Cincinnati, Ohio. Founded by William Procter and James Gamble in the year 1837, the company specializes in a range of hygiene and personal care products. The products range from home and baby care, health care and feminine hygiene, shampoo, skincare, etc.
In 2014, P&G sold off its 100 brands and shifted focus to the 65 remaining brands that were responsible for earning 95% of total revenue. In 2021 $78.34 billion was earned as revenue.
This business welcomes freshers as well as experienced professionals and the team has over 99,000 employees working all over the world in its different segments in different countries.
The largest supplier of refrigerated food and feed ingredients in the world is Cargill. In 1915, the Dominion Stockyard Company and J.W. Cargill joined hands with one business.
It is a privately held food corporation headquartered in Minnetonka, Minnesota. It is now one of the largest privately owned corporations in the USA. Had it been a public undertaking, it would rank 15 on the Fortune 500 list in 2015.
Some of their major businesses are purchasing, distributing and trading agricultural commodities. Besides livestock fodder production, they also produce palm oil, vegetable oils, starch and glucose syrups, etc.
Employing over 166,000 employees, they earn billions. In the year 2021, Cargill earned a revenue of $134.4 billion.
4. PPG Industries
PPG Inc. is one of America’s global suppliers of specialty materials, paints and coatings and is listed in the Fortune 500. It has its headquarters in Pittsburgh, Pennsylvania. This corporation runs in over 70 different countries all around the world. In terms of revenue, it is the largest coating company in the wide world.
The company was originally co-founded in the year 1883 by Captain John Pitcairn and associates and was based in Creighton, Pennsylvania but in a few years’ time, it became one of the United States’ commercially successful high-quality and thick flat glass producers.
However, it now produces custom varnishes and paints as well. In 2021, it earned a revenue of $16.802 billion.
DuPont has been in the market for more than 170 years now and is among the world’s largest chemical companies. They produce a variety of products ranging from Kevlar, Teflon and Lycra.
In 1802, Pierre Samuel du Pont de Numerous founded DuPont, a gunpowder manufacturing company. Later on, the founders expanded the business to various other industries like plastics, textiles and chemicals. In 2008 DuPont first launched its clothing line.
However, during the 1950s, they began producing polymers which led them to the top position in the market. 2018, DuPont was listed in the Fortune 500 among other American corporations. In 2021, they made a revenue of $16.65 billion.
6. Dow Chemical Company
Dow Chemical is a materials and chemical company that comes under the New York Stock Exchange list. It has been in the market since 1897, with headquarters in Midland, Michigan. It was founded by Herbert Henry Dow 125 years ago.
Dow Chemicals, with a $59 billion revenue, operates in three main segments, namely agricultural solutions, industrial chemicals and other specialty products. However, the company mainly specializes in industrial chemicals that include polymers and plastic.
In the year 2021, Dow earned a revenue of $55 billion and marketed its products all over the world. Dow Chemical’s main buyers are Chevron Corporations and General Electric.
7. BASF (E.I.)
BASF is another prime chemical producing company that has been in the market since 1865. With over 110,000 skilled employees and a yearly turnover of $65 billion, it is considered one of the world’s leading enterprises.
It was founded by Friedrich Engelhorn in 1865. BASF is known to produce plastics, agricultural chemicals, paints, coatings, soaps and even food additives. Other industrial products, such as dyes and pigments, are also manufactured by this company.
With its headquarters in Ludwigshafen, Germany, it operates on almost all continents except Antarctica. In the year 2021, it earned a revenue of $78.6 billion.
8. LyondellBasell Industries NV
LyondellBasell Industries is another multinational chemical producing company incorporated in the Netherlands with its headquarters in Huston, Texas, and offices in London. It is the largest licensor of propylene and polyethylene technologies. It also produces oxyfuels, ethylene, polyolefins, and propylene.
In December 2007, LyondellBasell was formed by Lyondell Chemical Company, the then third largest chemical producer in the US. The employees of the company volunteer in community services once a year which is celebrated as the annual Global Day Care. During this time, they work on various social service projects in 20 countries.
In 2021 this company earned a revenue of $46.17 billion with assets of about $36.74 billion. Its current number of employees is 19,100 (2021), working all over the world in different countries in its manufacturing units.
9. UOP LLC
UOP LLC specializes in evaluating and testing the effectiveness of the strategies of digital marketing. It’s one of the major digital-marketing agencies that provides services that include social media marketing campaigns and paid searches.
Their team comprises over 100 professionals whose expertise in their respective fields has been aiding the company in providing the best kind of services to customers. In 2021, UOP LLC made a revenue of $2.35 billion.
The company makes sure to upgrade its quality of services regularly, hence providing the best kind of services in the last 20 years and more. They constantly update their methods according to the newest technologies in the market.
10. Honeywell International Inc
Honeywell International Inc has been a leading business since 1968 in the aerospace, industrial products and building technology industry. It was co-founded by W. L. Gore and associates with its headquarters in Morristown, New Jersey.
The company earned a revenue of $34.39 billion in the year 2021. The company specializes in the fabric that is used for waterproofing.
Honeywell now makes building controls (including heating, air-conditioning and ventilating systems), electronic alarms, switches, avionics, medical instruments and space systems, etc.
Is Basic Industries A Good Career Path?
Yes, basic industries are definitely a good career path. You will get a good salary, better benefits, job security and the opportunity to work in the growing economy. As mentioned before, the manufacturing, construction, and agriculture sectors fall under the basic industries field and these sectors offer numerous job opportunities based on your qualifications and degrees.
How Many Jobs are Available in The Basic Industries?
As of 2022, the US Bureau of Labor Statistics (USBLS) estimates that there will be 24,504,000 open positions in the Basic Industries sector which includes mining, construction, hunting, fishing, agriculture, forestry, etc. The requirement to employ people in the basic industries can increase up to 2.7% by 2030.
What Are The Job Opportunities in The Basic Industries?
There are numerous job opportunities in the basic industries. Here in this segment, we have listed a few of the best-paying jobs in the basic industries.
- Agronomists: Agnormists are those people that work with firms that grow crops on a commercial scale. Agronomists help those companies by providing valuable information on soil management, nutrients, fertilizer, seeds, etc. On average, an Agronomist makes $56,305 yearly.
- Horticulturist: The goal of a horticulturist is to enhance harvests by improving plant health, size, and flavor. They are also responsible for coordinating the various studies conducted on various crops. If you want to become a horticulturist, you need to have in-depth knowledge of foliage, flowers, shrubs, fruits, etc. In the United States, horticulture may expect an annual compensation of roughly $73060.
Gas and Oil Industry
- Petroleum Geologist: A Petroleum Geologist is one that studies the earth’s surface with the aim of locating oil and gas. They are also responsible for mentioning what types of tools will be used in the sites of drilling. In order to become a Petroleum Geologist, you need to have a bachelor’s degree in Geoscience. The average annual salary of a petroleum geologist is approximately $105574.
- Drilling Engineer: Drilling Engineers are those that execute the operation of gas and oil extraction. Their jobs come with additional duties to assess and manage the oil wells. A drilling engineer can make up to $249 665 per year (on average).
- Metallurgist: Metallurgists spend a great deal of time in the lab conducting research and testing on a wide variety of metals. They are also needed at smelting factories to manage the mining, refining, and casting of metals. Entry-level metallurgists hold a bachelor’s degree in metallurgical or chemical engineering. In the United States, the average salary that a metallurgist make is $85 864/year.
- Health and Safety Professionals: Health and safety professionals in the mining industry investigate and document accidents and evaluate the safety protocols that need to be executed to operate mines safely. Normally, a health and safety professional can make $80,000 a year on average.
Iron and Steel Industry
- Steel Fabricator: Steel fabricators have the responsibility to convert basic steel sections into different segments and shapes, such as gauges, nail sets, blowtorches, power saws, etc. To become a steel fabricator, you need to have the ability to read and understand welding and blueprints. Apart from that, good mathematical and mechanical skills are also required. As fabricating is a hard job, you need to be physically fit.
The average annual salary for a steel fabricator is $56,478.
- Steel Worker: Steel workers’ primary responsibilities include the positioning and joining of steel girders, columns, and other components. It may also be necessary to assemble prefabricated metal structures, such as cranes and derricks, for usage on the construction site. They make a median salary of $55,000.
- Synthetic Chemist: Using their expertise in chemical synthesis, synthetic chemists create, test, and solve problems in the real world. A bachelor’s degree in chemistry or chemical engineering is required to be a synthetic chemist. They can earn more than $85,000 a year on average.
Apart from the mentioned ones, there are other career opportunities in the basic industries field; those are:
- Forensic Scientists (average annual salary $64k- $74k)
- Pipefitter (average annual salary $26k- $36k)
- Petroleum Engineer (average annual salary $137,330)
- Mining and Geological Engineers (average annual salary $100,00)
The basic industries sector is one of the largest and most diverse fields. From paper to construction, it might be challenging to know where to start looking for a suitable business when faced with such a diverse selection of products. However, as we have mentioned some of the popular names in the industry, now you have knowledge on what companies are in the basic industries field. Now, you can choose your potential employer in the basic industry field and grow your career.