ICIS has announced its annual Best Players Chemical Companies report on global producers rated by 2018 sales.
This season, China's Sinopec vaulted into the main place because of the world's leading chemical company with sales of $79.5B in 2018, a 25% increase from 2017. The break-from last year's top company, U.S.-based DowDuPont, into three separate firms led the way for that new leader.
Germany-based BASF arrived second with 2018 sales of $71.8B, adopted by U.S.-based Dow jones with $60.3B. Saudi Arabia-based SABIC required the amount four slots with $42.2B in revenue, and U.S.-based LyondellBasell is at fifth with $39.0B.
"There were dynamic shifts within the ICIS Best Players Chemical Companies ranking, with capacity additions, acquisitions and mergers (M&A), spinoffs, and currency playing major roles" stated Frederick Chang, global editor of ICIS Chemical Business.
2018 saw sales growth but profit gains were tricky to find, particularly with U.S.-China trade war headwinds emerging within the latter area of the year, which led to massive destocking within the 4th quarter.
"Sales growth was certainly healthy, however, the average loss of operating profit of 8% illustrates the margin pressure experienced by many people producers within the difficult another half" stated Nigel Davis, the ICIS insight editor.
The businesses within the ICIS Best Players Chemical Companies listing generated combined sales of $1.2 trillion in 2018, up by 10% from last year.
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