Brand Finance, the leading independent branded business valuation and strategy consultancy, recently released its annual report on the world’s most valuable and strongest chemicals brands.

The top 10 performers are BASF, DowDuPont, SABIC, LG Chem, DuPont, Lyondellbasell, Air Liquide,Mitsubishi Chemical, Praxair and Asahi Kasei, while LG Chem is the world’s fastest growing chemicals brand, said the report.

“BASF’s brand, which has a powerful track record over a number of years, could come under real pressure from the combined DowDuPont merger, which brings two compelling brands under one umbrella. The modernizing of chemical plants is now more crucial than ever as brands compete to update their production facility processes and also ensure that all work in research and development is underpinned by digital solutions,” said David Haigh, CEO, Brand Finance.

German giant BASF defends title

Germany’s BASF is once again the world’s most valuable chemicals brand after a year in which its brand value grew by 10.8% to US$8.3 billion.

BASF’s brand value was boosted by the unveiling of a new strategy which included ambitious new targets, more focus on organic growth and greater emphasis on expansion in Asia, notably across China. BASF has been recognized within the industry for its corporate climate action and water security efforts.

DowDuPont benefits from rebrand

While BASF is the leading chemicals company by brand value, it looks set to face stern competition from the DowDuPont company, which merged in 2017. The Chemicals sector continues its path of consolidation and M&A remained buoyant in 2018, with US$100 billion spent on transactions.

Although the new DowDuPont organisation still operates under the Dow and DuPont brands, despite the new company being split into three new entities, the combination of the two brands – US$6.8 billion and US$3.3 billion respectively – exceeds BASF’s US$ 8.3 billion.

SABIC holds firm in 3rd place

A new entrant to the Brand Finance Chemicals 10 ranking last year, Saudi Arabian petrochemicals giant SABIC has held firm in third place and seen a solid brand value growth of 6.5% to achieve a brand value of US$4.0 billion.

This success can be attributed to the brand’s continued expansion of investments across China, despite an expected slowdown in the country’s economic growth. SABIC has also continued to raise its presence in Africa which remains a promising lucrative market.

LG Chem the fastest growing brand

South Korea’s LG Chem brand grew faster than any other chemicals brand, its brand value rising by 38% to US$3.3 billion and moving them the company from fifth to fourth to overtake DuPont.

The brand has enhanced its brand visibility in Asia, largely due to increased sales and expansion of the company’s battery plants in China.