Coatings World staff09.08.20
ICIS announced its annual ICIS Top 100 Chemical Companies listing of global producers ranked by 2019 sales.
This year, Germany’s BASF regained the top spot as the world’s largest chemical company with sales of $66.6 billion in 2019, a decline of 1.5% from 2018.
Coming in second was 2018’s leader, China-based Sinopec with $63.2 billion in chemical sales, followed by US-based Dow in third with $43 billion in revenues, US-based LyondellBasell in fourth with $34.7 billion in sales and Saudi Arabia’s SABIC in fifth with $32.5 billion in sales.
“2019 was a tough year for the global chemicals sector with declines in sales and profits almost across the board amid a manufacturing slowdown. This has been overshadowed by the coronavirus pandemic in 2020 which will hit results even harder,” said Joseph Chang, global editor of ICIS Chemical Business.
The synchronized global manufacturing slowdown along with overcapacity in key chemical markets made for a difficult 2019.
“The Top 100 companies generated revenues of $1.05 trillion in 2019 - down 4.9% from 2018 on a comparable, as reported, basis. The data show that 33 of the companies in this listing reported a fall in sales of more than 10%,” said Nigel Davis, ICIS insight editor.
This compares to a robust 2018 where the ICIS Top 100 Chemical Companies generated combined sales of $1.2 trillion, up 10% from a year earlier.
