January 29, 2022


Accounting + Finance Blog

Meaning of Analytical Industry and Key Explanations

Meaning of Analytical Industry and Key Explanations

The analytical industry can turn a single raw material into several products. When one hears about this firm, the first thing that comes to mind is the oil and gas industry. Where crude oil and gas can be converted into varieties of products. Let’s discuss more here.

Definition of Analytical Industry

An analytical industry is a type of industry that can process a single raw material into several products. One textbook defines analytical industry as industries concerned with separating a single material input into
several elements.

Key Explanations

In this industry, a single material is necessary to make other products. It may also require other materials or chemicals to make the separation to the other elements possible.

Read: Basic Industry Meaning and Key Explanations

Crude oil remains the number one example of an analytical industry. In the oil and gas industry, a single material, crude oil, is separated into kerosene, diesel, motor fuel, aviation fuel, lubricant oil, plastics, sports equipment, cleansers, just to mention a few.

Another product that has this feature is palm fruit. This material can be converted into palm oil, native/kernel oil, edible palm kernel, and the remaining bye product can be used to make fire.

READ ON  Basic Industry Meaning and Key Explanations

The analytical industry has been important in every economy. Before people started taking renewable energy seriously, this industry had been a major powerhouse to many industries. Your car can move, thanks to crude oil. You can travel abroad. Yes, it was made possible by this industry. You wash your hair with shampoo. You clean your toilet. Medicine also gets some of its products from the industry. Bandages are examples.


Finally, it is one type of the various industries in the world. This industry separates different products from a single material. Crude oil, palm fruit, steel, and textile industries are part of the industry.