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Home > News > Chemicals

The top 50 chemical firms in the world revealed

Source：Adsale Plastics Network Date ：2024-07-25 Editor ：RC
Copyright： This article was originally written/edited by Adsale Plastics Network (AdsaleCPRJ.com), republishing and excerpting are not allowed without permission. For any copyright infringement, we will pursue legal liability in accordance with the law.

Chemical & Engineering News (C&EN) has just announced its report of Global Top 50 chemical companies for 2024. BASF, Sinopac and Dow kept their top three positions, while LG Chem and PetroChina rose in the ranking to occupy the fourth and fifth positions respectively.

 

Chinese firms play an increasingly important role

 

Chinese petrochemical producers have expanded production and gained market share in recent years. Among them are Rongsheng Petrochemical (14), Wanhua Chemical (16) and Hengli Petrochemical (18), these three companies rose in the ranking due to additional revenues from recent big plant expansions.

 

It is noteworthy that Tongkun Holding Group (37) and Hengyi Petrochemical (40) joined again this year after falling off the ranking in 2023.

 

Two Chinese petrochemical producers, Jiangsu Eastern Shenghong (22) and Xinfengming Group (48), a polyester fiber producer, joined the ranking for the first time. The former started a massive complex in China and achieved a 79% increase in chemical sales.


Newcomers from M&A and blooming new energy sector

 

Other newcomers include DSM-Firmenich (36), Celanese (39), Albemarle (43) and Hanwha Solutions (47). Besides, SK Innovation (50) rejoined the ranking after a multiyear absence.

 

Mergers and acquisitions (M&A) is one of the reasons for newcomers joining the ranking. DSM-Firmenich is a new company after the merger of DSM and the flavor and fragrance maker Firmenich, while Celanese purchased DuPont’s engineering polymer business.

 

On the other hand, Albemarle debuted thanks to its strong battery material business, and Hanwha Solutions got a lift from solar power materials, according to C&EN.

 

1.JPG

2.JPG

3.JPG

4.JPG

C&EN’s Global Top 50 chemical firms for 2023. (Source: C&EN)

 

Headwinds for global chemical industry in 2023

 

The analysis of C&EN shows that 2023, the fiscal year on which the ranking is based, is a bad year for the global chemical industry.


The combined chemical sales of the top 50 companies declined by 10.7% in 2023, to US$1,036 billion. In general, the decline is account for an inventory correction that undermined sales volume after the pandemic rebound.

 

Combined profits for the 38 companies reporting such figures tumbled by 44.1% from 2022, to US$54.4 billion. 29 of the companies reported declines in their bottom lines, and seven of them lost money.

 

In particular, European companies experienced a lack of competitiveness due to high energy costs and an aging fleet of assets. Companies such as BASF, Ineos (11), Evonik (21), Covestro (24) and Arkema (42) posted sharp declines in chemical sales.


*Click here to read C&EN's article of Global Top 50 list. (Source: C&EN)


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Chemical raw material
 Tangshan Zhonghao Chemical Co., Ltd      
 Guangdong Yilong Advanced Materials Technology Co Ltd      
 GUANGXI JINMAO TITANIUM CO.,LTD      
 JIANDE HUACHEN CHEMICAL CO.,LTD      
 Ningxia Baofeng Energy Group Co., Ltd.      
 HANGZHOU JUHESHUN NEW MATERIAL CO., LTD.      
 JIANGSU YICAN SPECIAL PLASTICS CO., LTD.      
 SUZHOU ZHIFAN PLASTIC MATERIAL CO.,LTD      
 XIAMEN MEIJIAMEI NEW MATERIALS TECHNOLOGY CO., LTD.      
 HEBEI LINGSHOU COUNTYZHONGKE MINERAL POWDERCO, LTD.      
 Henghe Material & Science Technology Co., Ltd      
 Rongsheng Petrochemical Co., Ltd.      
 FUJIAN HUASU INNOVATIVE PLASTICS MATERIALS CO., LTD.      
 GUANGDONG BOSI SCI& TECH CO., LTD      
 ANHUI ISUOCHEM CO.,LTD      
 HUNAN PROVINCE SUN YOUNG NEW MATERIAL CO.,LTD.      
 JIANGSU LISIDE NEW MATERIAL CO., LTD      
 HEBEI TANGNAI TECHNOLOGY CO.,LTD.      
 Guangdong Xinda Advanced Materials Technology Co., Ltd.      
 Hengyang Lihui Environmental friendly material Co. Ltd.      
 QINGDAO JABETTER NEW MATERIAL TECHNOLOGY CO.,LTD.      
 QINGDAO HAIRUITE CHEMICAL MATERIAL CO., LTD      
 Taizhou Jianlong Technology Co.,Ltd      
 SHANDONG 123 PLASTIC MASTERBATCH CO., LTD      
 SHANXI GSQ NEW MATERIALS CO., LTD      
 Jiangsu Hanguang Industrial Co., Ltd.      
 SHANGHAI PUZHAN INDUSTRY CO., LTD.      
 SHENZHEN YUTIAN NEW MATERIALS TECHNOLOGY CO., LTD      
 HUANGSHAN GABOO NEW MATERIAL TECHNOLOGY CO.,LTD      
 ZHEJIANG HONGYI CHEMICAL CO.,LTD.      
 ATK Flame Retardant Materials Company      
 SHENYANG SIWEI POLYMER PLASTIC CO., LTD.      
 CHITEC TECHNOLOGY (SHANGHAI) CO., LTD.      
 ANHUI SHAFENG ADVANCED MATERIAL CO., LTD.      
 YUNLIAN TECHNOLOGY CO., LTD.      
 NINGBO YOUDAO CHEMICAL PLASTIC CO.,LTD      
 SHINY MATERIALS SCIENCE & TECHNOLOGY INC      
 Zhejiang Future Petrochemical Co.,ltd      
 BOOM INDUSTRY (SH) CO., LTD.      
 NANJING LEPUZ CHEMICAL CO., LTD.      
 WUXI HHC NEW MATERIAL CO., LTD.      
 XINJIANG XINGBOYU NEW MATERIAL CO., LTD.      
 HUNAN ZHONGJIN HUATAI TECHNOLOGY CO., LTD      
 SHANDONG LONGTUO NEW MATERIAL CO.,LTD      
 GUANGZHOU RONGFENG PLASTIC TECHNOLOGY CO., LTD.      
 AMOS COMPOSITES (GUANGDONG) CO., LTD      
 FLUOTECH (XIAMEN) NEW MATERIALS CO., LTD.      
 NINGBO JINGHAI PIGMENT CO., LTD      
 QINGDAO BANGKAI HI-TECH MATERIALS CO.,LTD.      
 VULCHEM MATERIAL SCIENCE (CHANGSHU) SO., LTD      
 JIAYU COUNTY YUWERNEW MATERIAL TECHNOLOGY CO..LTD      
 ENPING CITY RUIJI NEW MATERIAL TECHNOLOGY CO., LTD.      
 HANGZHOU BRILLIANT CHEM TECHNOLOGY CO.,LTD.      
 CHANGHE CHEMICAL NEW MATERIAL(JIANGSU) CO.,LTD.      
 HUNAN FARIDA TECHNOLOGY CO.,LTD      
 LANGFANG HUABO ENVIRONMENT-PROTECTING MATERIAL CO.,LTD.      
 PENGLAI HONGWEI CHEMICAL CO., LTD.      
 SENNICS CO., LTD.      
 YINGKOU JINTONG NEW MATERIAL TECHNOLOGY CO., LTD      
 EPLASTMER NEW MATERIAL CO.,LTD      
 YONEI INNOVATIVE MATERIAL TECH LIMITED      
 DANDONG TIANCI FIRE-RETARDANT MATERIAL TECHNOLOGY CO.,LTD.      
 JIANGSU CHEMK CO., LTD.      

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Source：Adsale Plastics Network Date ：2024-07-25 Editor ：RC
Copyright： This article was originally written/edited by Adsale Plastics Network (AdsaleCPRJ.com), republishing and excerpting are not allowed without permission. For any copyright infringement, we will pursue legal liability in accordance with the law.

Chemical & Engineering News (C&EN) has just announced its report of Global Top 50 chemical companies for 2024. BASF, Sinopac and Dow kept their top three positions, while LG Chem and PetroChina rose in the ranking to occupy the fourth and fifth positions respectively.

 

Chinese firms play an increasingly important role

 

Chinese petrochemical producers have expanded production and gained market share in recent years. Among them are Rongsheng Petrochemical (14), Wanhua Chemical (16) and Hengli Petrochemical (18), these three companies rose in the ranking due to additional revenues from recent big plant expansions.

 

It is noteworthy that Tongkun Holding Group (37) and Hengyi Petrochemical (40) joined again this year after falling off the ranking in 2023.

 

Two Chinese petrochemical producers, Jiangsu Eastern Shenghong (22) and Xinfengming Group (48), a polyester fiber producer, joined the ranking for the first time. The former started a massive complex in China and achieved a 79% increase in chemical sales.


Newcomers from M&A and blooming new energy sector

 

Other newcomers include DSM-Firmenich (36), Celanese (39), Albemarle (43) and Hanwha Solutions (47). Besides, SK Innovation (50) rejoined the ranking after a multiyear absence.

 

Mergers and acquisitions (M&A) is one of the reasons for newcomers joining the ranking. DSM-Firmenich is a new company after the merger of DSM and the flavor and fragrance maker Firmenich, while Celanese purchased DuPont’s engineering polymer business.

 

On the other hand, Albemarle debuted thanks to its strong battery material business, and Hanwha Solutions got a lift from solar power materials, according to C&EN.

 

1.JPG

2.JPG

3.JPG

4.JPG

C&EN’s Global Top 50 chemical firms for 2023. (Source: C&EN)

 

Headwinds for global chemical industry in 2023

 

The analysis of C&EN shows that 2023, the fiscal year on which the ranking is based, is a bad year for the global chemical industry.


The combined chemical sales of the top 50 companies declined by 10.7% in 2023, to US$1,036 billion. In general, the decline is account for an inventory correction that undermined sales volume after the pandemic rebound.

 

Combined profits for the 38 companies reporting such figures tumbled by 44.1% from 2022, to US$54.4 billion. 29 of the companies reported declines in their bottom lines, and seven of them lost money.

 

In particular, European companies experienced a lack of competitiveness due to high energy costs and an aging fleet of assets. Companies such as BASF, Ineos (11), Evonik (21), Covestro (24) and Arkema (42) posted sharp declines in chemical sales.


*Click here to read C&EN's article of Global Top 50 list. (Source: C&EN)


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The top 50 chemical firms in the world revealed

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