So many chemical companies have formed the chemical industry, making the chemical industry such a successful role. So we'll look at some of the world's largest chemical companies. All of these companies play an important role in global chemical production and employ thousands of employees.
We will focus on the facts, statistics, and rankings in 2020, so we should have reservations. Like other industries, COVID-19 has changed the world, and chemical production enterprises have also been hit.
Nevertheless, these figures are impressive and show you how big the chemical companies are. Let's take a look at the 10 largest chemical companies in the world.
2019 sales: $66.4 billion
At the top of almost all the lists is BASF, a multinational company that, despite the epidemic, still achieved $60.9 billion in revenue in 2020. BASF has many smaller companies and joint ventures and 390 production bases in 80 countries around the world.
BASF's future is bright. They continue to expand and are about to complete its latest chemical complex, a plastic synthesis plant in China.
China Petroleum & Chemical Corporation
2019 sales: $61.6 billion
Sinopec, founded in 2000, quickly climbed to the peak of the chemical industry. COVID-19 has recently put the company in a difficult position, because most of their business is in China, and China was first affected during the epidemic.
Over time, compounds have proved necessary for chemical manufacturing, and they can rebound in the second half of this year.
They are mainly involved in the production of organic chemicals, synthetic resin, synthetic fiber monomers and polymers, synthetic fiber, synthetic rubber, chemical fertilizer, etc., but they also have small businesses of other compounds.
Dow Chemical Company
2019 sales: $43 billion
Dow Chemical is the first American company to make the list, famous for producing plastics, chemicals, and agricultural products. Dow Chemical has 109 factories in 31 countries and nearly 37000 employees. It is a large global enterprise.
The covid - 19 pandemics hit Dow Chemical, and the demand for some of its products fell, while other products remained unchanged, resulting in a mixed situation this year. Nevertheless, they kept their top three positions.
Saudi Basic Industries Corporation
2019 sales: $34.4 billion
As a subsidiary of Saudi Aramco, a Saudi Arabian state-owned company, SABIC is mainly engaged in petrochemical, chemical, industrial polymers, chemical fertilizers, and metals.
This strategic alliance of upstream and downstream production (raw materials and refining/production) enables them to go deep into the industry and gain interesting advantages.
The company employs about 30000 employees worldwide, most of them from Saudi Arabia.
2019 sales: $32 billion
After years of mergers and acquisitions, Ineos has grown from a small chemical company to one of the top ten enterprises in the global industry. By 2020, their efforts had paid off, and their reported total assets were close to $13 billion.
The company focuses on petrochemical products and special compounds, but they also have other manufacturing capabilities. They employ a total of 7500 people.
Formosa Plastics Corporation
2019 sales: $31.4 billion
Formosa Plastics Corp is one of the largest plastic companies in the world, mainly producing polyvinyl chloride (PVC) products and resins. In 2018, Forbes listed them as the 758th of the world's 2000 largest listed companies.
In 2019 and 2020, they promoted projects to increase production capacity at factories in point comfort, texas, and St. James Parish, Los Angeles. Formosa Plastics Group has an important production base in the world, with about 10000 employees around the world.
2019 sales: $27.4 billion
When you think of ExxonMobil, you may think of natural gas and oil, but their huge chemical weapons have nothing to laugh at.
ExxonMobil's efforts in the chemical industry make it a key enterprise in raw materials and chemical production, ranking seventh on the list.
They are involved in many types of production, most of which are concentrated in olefins, ethylene glycol, polyethylene, polypropylene, elastomers, plasticizers, solvents, process fluids, oxygen alcohols, and bonding resins.
Although 2020 will be a difficult year for ExxonMobil (its parent company) and its chemical sector, they are still major players in the industry and will continue to be so.
Mitsubishi Chemical Corporation
2019 sales: $27.4 billion
Mitsubishi Chemical is another name you may know, but not because of its work in chemical products.
Most famous for their cars to most consumers, their chemical company is an umbrella company with many subsidiaries, including Mitsubishi polyester film, Mitsubishi Chemical FP, MC research and innovation, Mitsubishi Chemical performance polymers.
In 2019 and 2020, they will focus on expanding their shareholding and acquire several chemical companies around the world, including one in Pennsylvania and one in Switzerland.
2019 sales: $27.1 billion
LyondellBasell is a truly multinational company known for its polyethylene and polypropylene technologies and products produced at its core facilities in the Netherlands, the United States, and the United Kingdom.
In all their locations, they employ nearly 20000 employees. Although 2020 will be difficult for them, they seem to have a bright future with new factories and attention to recycling research.
2019 sales: $24.6 billion
LG Chemical is the largest chemical enterprise in Korea and the 10th in the world. It has achieved great success in the fields of raw materials, chemistry, it / electronic materials, energy solutions, and so on.
Their focus on technology products helps them stay ahead and relevant in the hands of other competitors. As of 2015, they have more than 20000 employees in various business departments.