LONDON and NEW YORK, Sept. 18, 2023 /PRNewswire/ -- ICIS has announced the ICIS Top 100 Chemical Companies, a global listing of the leading producers of chemicals worldwide ranked by 2022 sales.
Germany-based BASF is again the world's largest chemical company, with sales of $93.7bn in 2022, up 11.1% versus 2021.
Rounding out the Top 5 are China-based Sinopec with $78.2bn in chemical sales, followed by US-based Dow in third with $56.9bn, Saudi Arabia-based SABIC with $52.9bn and UK-based INEOS with $51.9bn.
While most chemical companies generated sales growth in 2022 on higher oil and natural gas feedstock costs, margins were squeezed, particularly in the back half of the year.
"After a robust H1 on tailwinds from the pandemic recovery, by Q3 deteriorating macroeconomic conditions and a shift in consumer spending away from durables led to an unprecedented stretch of destocking continuing well into 2023 with impacts still being felt today," said Joseph Chang, Global Editor of ICIS Chemical Business.
"2022 will go down as one of the most difficult years for chemical companies since the Global Financial Crisis, as it was overshadowed by war and looming economic recession, although for some, the impact of these seismic events did not materialise until late in the year," said Nigel Davis, ICIS Insight Editor.
The ICIS Top 100 Chemical Companies includes sales as well as operating profits, net income, total assets, capital expenditures and R&D spending for the world's top producers.
The ICIS Top 100 Chemical Companies issue of ICIS Chemical Business is available for download here.
Currency conversions to US dollars for the ranking are based on year-end 2022 exchange rates.
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more. Over 150 years of shaping the world by connecting markets to optimise the world's valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £52.9bn and an employee base of over 35,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £52.9bn | €61.5bn | $65.6bn
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