BASF is again the chemical company with the highest sales in 2023, followed by Sinopec and Dow. This is unchanged from previous years. Overall, 2023 saw a decline in sales for the top chemical companies due to inventory correction following COVID-19, overcapacity, and reduced competitiveness in Europe due to high energy costs and the loss of Russian natural gas. There were significant declines in petrochemicals and fertilizers. The rise of Chinese companies represents a major structural change in the industry, reflecting China’s growing influence in global petrochemical markets [1].
Climate and environmental protection remains a major concern, and chemical companies worldwide have been actively promoting their sustainable products and processes [2].
Top 10 Chemical Companies
(with amount of chemical sales in USD)
Their Chemical Footprint
Chemsec, an autonomous non-profit organization, conducts an annual assessment of the world’s 50 largest chemical companies through their ChemScore Report. This evaluation is based on the company’s revenue and categorizes their performance into four distinct areas: toxicity of their product portfolio, research and development of non-toxic chemicals, management and transparency, and the number and scope of controversies and scandals the company has been involved in. This assessment relies on publicly available data. [2]
The graphic shows the ChemScores for the top ten chemical companies depicted in the previous graphic, provided they are included in the index.
Chemical Sales of Global Top 50 Companies by Continent
References
[1] Alexander H. Tullo, C&EN’s Global Top 50 chemical firms for 2024, C&EN July 19, 2024.
[2] ChemScore Report 2023, ChemSpec. (accessed August 2, 2024)
Also of Interest
