The global oil & gas industry experienced a 12% decline in the number of social responsibility-related patent applications in Q2 2024 compared with the previous quarter. The total number of social responsibility-related grants dropped by 15% in Q2 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Oil & Gas: Patents Trends Q2 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Notably, the number of social responsibility-related patent applications in the oil & gas industry was 50 in Q2 2024, versus 57 in the prior quarter.
The top five companies accounted for 40% of patenting activity
Analysis of patenting activity by companies shows that Toray Industries filed the most social responsibility patents within the oil & gas industry in Q2 2024. The company filed 10 social responsibility-related patents in the quarter, compared with 2 in the previous quarter. It was followed by Cardinal Health with 3 social responsibility patent filings, Mitsubishi Gas Chemical (3 filings), and Seiko Group (2 filings) in Q2 2024.
Patenting activity was driven by China with a 34% share of total patent filings
The largest share of social responsibility related patent filings in the oil & gas industry in Q2 2024 was in China with 34%, followed by Japan (16%) and the US (12%). The share represented by China was 12% lower than the 46% share it accounted for in Q1 2024.
For further understanding of GlobalData's Oil & Gas: Patents Trends Q2 2024, buy the databook here.
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