Top Chemical Companies Ranking Is Out

BASF is the world's largest chemical company with sales of $72.3 billion, according to the just released ICIS Top 100 Chemical Companies listing of global producers ranked by 2020 sales.  

“2020 saw unprecedented disruptions from COVID-19 which led to significant sales declines, especially for commodity chemicals producers. However, the industry rose to the challenge, meeting demand for personal protective equipment (PPE), hygiene products and food and other packaging,” said Joseph Chang, who is global editor of ICIS Chemical Business.

“The ICIS Top 100 data show an average sales decline of 34% in 2020 for the diverse and global group of chemical companies. Operating profits fell on average close to 25% year on year for those that posted profits,” noted Nigel Davis, ICIS Insight editor.

The plunge in sales and profits in the first half of 2020 was followed by a sharp rebound in the second half and into 2021.

“Supply chain disruption was a major factor pushing commodity chemical prices higher through the second half of 2020 as demand growth started to return in end-use markets,” said Davis.

BASF’s sales fell a scant 0.3% versus 2019, according to the report.

China-based Sinopec was second with $57.0 billion in chemicals sales, followed by US-based Dow in third with $38.5 billion in revenues, UK-based INEOS with $33.6 billion in chemicals sales and US-based LyondellBasell with $27.8 billion. 

Rounding out the top 20 are:
LG Chem
SABIC
ExxonMobil Chemical
Sumitomo Chemical
Dupont
Mitsubishi Chemical
Sherwin-Williams
Hengli Petrochemical
Toray
Evonik
Shin-Etsu Chemical
PPG
Covestro
Bayer
Mitsui Chemicals

Other notables on the list are: Henkel, 27; DSM, 29; Ecolab, 33; Givaudan, 42; Wacker, 52; Lonza, 59; IFF, 60; Clariant, 64; and Ashland, 95.