Datastream
Disruptive Materials: Visualizing America’s Import Dependency
The following content is sponsored by Global X ETFs
The Briefing
- The U.S. is 100% import dependent on manganese and graphite
- China and Canada are the two nations the U.S. is most import reliant on
America’s Import Dependency for Disruptive Materials
The U.S. is expected to see surging demand for disruptive materials, which are those deemed to have high level importance for their role in next generation technologies. But many of these disruptive materials like manganese, cobalt, and lithium are primarily imported from foreign countries.
This graphic from Global X ETFs takes a closer look at America’s reliance on net imports for these disruptive materials. Countries are ranked by how many commodities of which the U.S. is a net importer. And net importer is defined as over 50% of domestic use or consumption comes from foreign sources rather than domestic production.
Ranking Country Reliance
The U.S. imports commodities from a lot of countries, including from economic rivals. And these commodities include well known ones like nickel, zinc , and lithium, which are critical to climate-friendly technologies. However, the data reveals that there are a select number of countries where dependency is highest. Here’s a look at the top eight countries.
| Country | Number of Commodities Net Import Reliant |
|---|---|
| 🇨🇳 China | 19-23 |
| 🇨🇦 Canada | 13-18 |
| 🇷🇺 Russia | 7-12 |
| 🇮🇳 India | 7-12 |
| 🇧🇷 Brazil | 7-12 |
| 🇿🇦 South Africa | 7-12 |
| 🇩🇪 Germany | 7-12 |
| 🇲🇽 Mexico | 7-12 |
The U.S. is most dependent on China where they are net import reliant on 19-23 different commodities, followed by Canada with 13-18. In addition, the U.S. is 100% import reliant on manganese and graphite, and 76% import reliant on cobalt.
As these materials become increasingly important for AI, robotics, drone technology, as well as for climate infrastructure like solar panels and wind turbines, nations will desire to bolster their own supply chains and be less reliant on other countries. This may also accelerate due to the pandemic highlighting the fragility behind global supply chains.
Overall, this creates an environment where the market for disruptive materials will see extended periods of high demand and rising prices, otherwise known as a demand supercycle.
Introducing the Global X Disruptive Materials ETF
The Global X Disruptive Materials ETF (Ticker: DMAT) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Disruptive Materials Index.
To learn more about gaining exposure to the rising demand for disruptive materials, click here now .
Datastream
Mapped: Legal Sports Betting Totals by State
In 2022, legal sports betting in the U.S. totaled over $93 billion. Which states saw the most and least wagers? (Sponsored post)
The Briefing
- Legal sports betting reached over $93 billion in the U.S. in 2022.
- New York State had the most wagers, with a total of $16.3 billion.
Legal Sports Betting Totals by State
Which states are driving the legal sports betting market, and which have not yet become major players? The answer is fueled by each state’s legalization status, population, and other factors.
In this graphic from Roundhill Investments , we show a breakdown of legal sports betting by state.
A State View of Legal Sports Betting
In 2022, sports betting was live in 31 states plus Washington, D.C. Betting activity is highly concentrated, with the top five states accounting for 57% of the total reported legal wagers.
| State/District | Legal Sports Wagers in 2022 |
|---|---|
| New York | $16.3B |
| New Jersey | $10.9B |
| Illinois | $9.8B |
| Nevada | $8.7B |
| Pennsylvania | $7.3B |
| Arizona | $5.5B |
| Colorado | $5.2B |
| Virginia | $4.9B |
| Michigan | $4.8B |
| Indiana | $4.5B |
| Tennessee | $3.9B |
| Iowa | $2.3B |
| Louisiana | $2.3B |
| Connecticut | $1.5B |
| Maryland | $981M |
| New Hampshire | $892M |
| Kansas | $719M |
| West Virginia | $569M |
| Rhode Island | $533M |
| Mississippi | $532M |
| Oregon | $498M |
| Washington D.C. | $216M |
| Arkansas | $185M |
| Wyoming | $145M |
| Delaware | $82M |
| Montana | $51M |
| South Dakota | $7M |
| New Mexico | Legal, no data |
| North Carolina | Legal, no data |
| North Dakota | Legal, no data |
| Washington State | Legal, no data |
| Wisconsin | Legal, no data |
| Massachusetts | Legal, became operational in 2023 |
| Ohio | Legal, became operational in 2023 |
| Florida | Legal, not yet operational |
| Maine | Legal, not yet operational |
| Nebraska | Legal, not yet operational |
| Alabama | Not legal |
| Alaska | Not legal |
| California | Not legal |
| Georgia | Not legal |
| Hawaii | Not legal |
| Idaho | Not legal |
| Kentucky | Not legal |
| Minnesota | Not legal |
| Missouri | Not legal |
| Oklahoma | Not legal |
| South Carolina | Not legal |
| Texas | Not legal |
| Utah | Not legal |
| Vermont | Not legal |
New York State had the most legal sports betting, largely because it was the most populous state to allow online sports wagers so far. Notably, 1.2 million accounts were created in the first 10 days of legalization. New York also has multiple teams across all four major sports—football, basketball, baseball and hockey—which boosts local interest.
New Jersey took the second spot. The state challenged the federal ban against legal sports betting, winning their case in 2018. New Jersey has since rapidly established itself as a sports betting hub, thanks to its established gaming regulations, prime location near New York City and Philadelphia, and strong gaming and tech infrastructure.
Illinois had the third highest annual total, and beat its prior state record with $1 billion in wagers in October alone. One key factor was a change to the registration process in 2022, which allowed residents to sign up online rather than in-person at a casino. Not only that, the state is home to some popular teams including the Chicago Bulls, who have the third-largest social media following of any NBA team.
Smaller, and Not Yet Legal, Markets
South Dakota had the lowest legal sports betting of the states with reported totals. The state only allows in-person betting in the city of Deadwood and at tribal casinos, with the latter not reporting the total bets they receive. Online sports betting is not yet legal in the state unless the bettor is physically at a Deadwood casino.
Montana had the second smallest total bets. The state has a small population and no major league professional sports teams. Not only that, sports betting in the state is government-run rather than a competitive market. Like South Dakota, online bets can only be placed when the bettor is physically present at a retailer.
Notably, the most populous states of California, Texas, and Florida do not yet have legal and/or operational sports betting. Together, the three states represent 27% of the total U.S. population. Sports betting was initially legal in Florida but has been paused due to ongoing legal proceedings.
Expanding Geographic Reach
Legal sports betting has expanded significantly since the federal ban was lifted in 2018. However, 17 states have not yet legalized sports betting in any form, and some states could see growth from allowing online betting.
As more states proceed with legalization, the consumer base is likely to continue expanding. This creates a revenue opportunity for sportsbook operators. In fact, Goldman Sachs estimates that the total revenue opportunity could grow from $900 million in 2021 to $39 billion by 2033.
Looking for exposure to the growing sports betting industry? Explore Roundhill’s sports betting ETF, $BETZ .
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