ICIS Announces List of World's Top 100 Chemical Companies

ICIS Announces World's Top 100 Chemical Companies List ICIS has unveiled the ICIS Top 100 Chemical Companies, a global ranking of leading chemical producers based on 2022 sales. BASF, headquartered in Germany, retained its position as the world's largest chemical company with USD 93.7 billion in sales in 2022, representing an 11.1% increase compared to 2021. In the top five, Sinopec, based in China, ranks second with USD 78.2 billion in chemical sales, followed by Dow, headquartered in the United States, in third place with USD 56.9 billion, SABIC, based in Saudi Arabia, in fourth place with USD 52.9 billion, and INEOS, headquartered in the United Kingdom, in fifth place with USD 51.9 billion. While most chemical companies increased sales in 2022 due to high crude oil and natural gas feedstock costs, margins contracted particularly in the second half of the year. Joseph Chang, Global Editor of ICIS Chemical Business, stated: "Following a strong first half driven by post-pandemic recovery, deteriorating macroeconomic conditions in the third quarter and shifts in consumer spending away from durable goods led to an unprecedented inventory drawdown that extended into 2023 and whose effects are still being felt today." Nigel Davis, ICIS Insight Editor, added: "2022 will go down in history as one of the most challenging years for chemical companies since the Global Financial Crisis, as it unfolded in the shadow of war and looming economic downturn, though for some the impact of these seismic events did not fully materialize until late in the year." The ICIS Top 100 Chemical Companies comprises not only the sales of the world's largest producers but also their operating profits, net income, total assets, capital expenditures and research and development spending. The ICIS Top 100 Chemical Companies list from ICIS Chemical Business is accessible via the ICIS website.   *For the ranking, currency conversions to US dollars were based on end-of-2022 exchange rates.