Quarterly Industry Forecast Reports from Oxford Economics have been updated on NFPA’s member hub. Some quick insights include:
- Pharmaceuticals: The sector is shifting toward biologics, specialty drugs, and innovation, with Asia Pacific gaining global share. Patent cliffs and price controls are key risks in advanced economies.
- Industrial & Building Materials: Wood and wood products are a bright spot, while pulp & paper faces ongoing decline. Severe weather and raw material shortages (e.g., rubber in Southeast Asia) are emerging as new supply chain risks.
- Construction: Civil engineering and infrastructure are outperforming residential and non-residential building, with fiscal support and green transition policies as key growth drivers.
- Utilities (especially electricity) are set for a strong rebound in 2026, propelled by electrification trends, AI/data center expansion, and the green transition. Construction activity is increasingly focused on infrastructure and utilities projects, with governments prioritizing energy resilience and climate targets. Renewable energy’s share of electricity generation continues to rise rapidly, especially in China, India, and Europe
- The US, Eurozone, UK, and Japan are expected to see only modest or even flat growth in construction, utilities, and industrial materials in 2026. High interest rates, weak housing/construction demand, and regulatory burdens are key constraints. Pharmaceuticals in advanced economies will also slow after a strong 2025, with cost controls and patent expiries weighing on the outlook.
Oxford Economics produces quarterly forecast reports for 10+ industries. These reports highlight forecast drivers and constraints with upside and downside scenario outlooks. Industries covered include Construction, Motor Vehicles, Extraction, Electronics and Computers, and more. These reports additionally apply the industry forecasts to a handful of major market countries, such as Germany, United States, United Kingdom, China, Japan, and several others.
Download these reports and more from Oxford Economics with your NFPA member login: https://www.nfpa.com/global-forecast-oxford-economics.
For any questions, please contact Cecilia Bart at cbart@nfpa.com.
