Sinopec leads ICIS Top 100 Chemical Companies list

Author: Will Beacham

2019/09/03

LONDON and NEW YORK (ICIS)--ICIS Chemical Business magazine has published its annual ICIS Top 100 Chemical Companies, a global listing of producers ranked by 2018 sales.

Click here to download the ICIS Top 100 Chemical Companies ranking.

This year, China’s Sinopec vaults into the #1 spot as the world's leading chemical company with chemical sales of $79.5bn in 2018, a 25% increase from 2017. The break-up of last year’s top company, US-based DowDuPont, into three separate firms paved the way for a new leader.

Germany-based BASF comes in 2nd with 2018 sales of $71.8bn, followed by US-based Dow in 3rd place with $60.3bn in revenues. Saudi Arabia-based SABIC takes the #4 slot with $42.2bn in sales, followed by US-based LyondellBasell at #5 with $39.0bn in revenues.

“There were dynamic shifts in the ICIS Top 100 Chemical Companies ranking, with capacity additions, mergers and acquisitions (M&A), spinoffs and currency playing major roles,” said Joseph Chang, Global Editor of ICIS Chemical Business.

The year 2018 saw sales growth but profit gains were hard to come by, especially with US-China trade war headwinds emerging in the latter part of the year contributing to massive destocking in the fourth quarter.

“Sales growth was certainly healthy, but the average de­cline in operating profit of 8% illustrates the margin pressure encountered by many produc­ers in the difficult second half,” said Nigel Davis, ICIS Insight Editor.

The companies in the ICIS Top 100 Chemical Companies listing generated combined sales of $1,200bn in 2018, up by 10% from a year earlier.

Currency conversions to US dollars for the ranking are based on year-end 2018 exchange rates.

The ICIS Top 100 Chemical Companies series of special reports runs over three consecutive weekly issues.

The September 6 issue of ICIS Chemical Business will feature the geographic leaders in North America, Latin America, Europe, Asia, and the Middle East & Africa.

The September 13 issue will highlight the ICIS Company of the Year based on financial metrics.