Did you know that the United States is one of the world’s largest chemical producers? It’s no surprise when you look at the statistics and see how much money and chemicals are created in America each year. Since there are so many companies that make up the chemical industry and the roles that make the industry so successful, we’re going to look at the top largest chemical companies, which are between commodity and specialty chemical, across the states of the USA including Houston and Florida, and then across the world.
Top Largest Chemical Companies 2023
Investors are paying close attention to a number of large-cap companies in the chemical industry. However, there are some tiny companies with significant upside potential. Here are the top five chemical companies, which include both major and small businesses:
#1. BASF Catalysts
- 2021 chemical sales: $93.0 billion
- Ludwigshafen, Germany
BASF, a worldwide corporation that recorded $60.9 billion in revenue in 2020 despite the epidemic, tops nearly all of the charts. Also, BASF comprises several smaller companies and projects, and the company works in 80 countries with 390 manufacturing facilities worldwide.
BASF’s future seems bright as they continue to develop and near completion of their newest chemical complex, a plastics compounding plant in China.
#2. China Petroleum Chemical Corporation (Sinopec)
- 2021 chemical sales: $65.8 billion
- Beijing, China
Sinopec, founded in 2000, has quickly risen to the top of the chemical industry. COVID recently thrown the company for a loop because the majority of its activities are headquartered in China, which was the first to be touched by the pandemic.
Chemical compounds were able to mostly recover in the second half of the year as they demonstrated vital in chemical manufacturing.
They primarily manufacture organic chemicals, synthetic resin, synthetic fiber monomer and polymer, synthetic fiber, synthetic rubber, and chemical fertilizer, but they also have minor activities in other substances.
#3. Dow
- 2021 chemical sales: $55.0 billion
- Midland, MI
Dow is one of the world’s oldest chemical companies, having been founded in 1897. Coatings, industrial intermediates (chemicals used by other industries), polymers, and silicones are among the company’s products. Dow revamped its business in 2019 to optimize operations, establishing the corporation as the global leader in 14 core chemicals.
Although the COVID-19 epidemic had an impact on Dow’s business, its future prospects appear promising. The worldwide economic recovery fueled by vaccination has boosted the automotive, electronics, housing, and industrial markets, all of which are major customers of Dow’s products. Long-term rising demand for renewable energy, electric and self-driving vehicles, and high-speed 5G networks should also aid Dow’s growth.
Another significant benefit is the company’s dividend. Since its separation from DowDuPont in 2019, Dow’s dividend yield has stayed close to or above 4%.
#4. Saudi Basic Industries Corporation (SABIC)
- 2021 chemical sales: $43.2 billion
- Riyadh, Saudi Arabia
SABIC, a subsidiary of Saudi Aramco, primarily works with petrochemicals, chemicals, industrial polymers, fertilizers, and metals.
This strategic alliance of upstream and downstream production (raw materials and refining/producing) allows them to delve deeply into the sector and provides them with an intriguing advantage.
In total, the corporation employs over 30,000 employees worldwide, with the majority of them coming from their home nation of Saudi Arabia.
#5. Formosa Plastics
- 2021 chemical sales: $43.2 billion
- Kaohsiung City, Taiwan
Formosa Plastics Corp is one of the world’s largest plastics companies, focusing mostly on polyvinyl chloride (PVC) products and resins. Forbes rated them 758th on its Global 2000 list of the largest publicly traded companies in 2018.
They advanced projects to boost their production capacity with plants in Point Comfort, TX and St. James Parish, LA in 2019 and 2020. Formosa Plastics Corp employs around 10,000 people worldwide, with key manufacturing sites located throughout the world.
#6. INEOS
- 2021 chemical sales: $39.9 billion
- London, England, UK
INEOS has grown from a tiny chemical firm to one of the top ten companies in the global sector through years of mergers and acquisitions. By 2020, their efforts had paid off, with total assets of approximately $13 billion.
Although the company’s primary concentration is on petrochemicals and speciality compounds, it also has other production capabilities. They employ approximately 7,500 people in total.
#7. PetroChina
- 2021 chemical sales: $39.7 billion
- Beijing, China
PetroChina is the publicly traded subsidiary of China National Petroleum Corporation (CNPC). This corporation is currently Asia’s largest oil and gas producer.
PetroChina, like many other companies, is experiencing significant development as it recovers from the economic slump caused by the Covid-19 Pandemic. There is a lot of activity in its future relating to chemical production, which will only strengthen its position in the sector.
#8. LyondellBasell
- 2021 chemical sales: $40.0 billion
- Rotterdam, Netherlands
LyondellBasell is a genuinely worldwide corporation noted for its polyethylene and polypropylene technologies and products, which it manufactures from its primary sites in the Netherlands, the United States, and the United Kingdom.
They employ about 20,000 employees across all of their locations. While 2020 was challenging for them, they appear to have a bright future with new plants and an emphasis on recycling research.
#9. LG Chemical
- 2021 chemical sales: $37.3 billion
- Seoul, South Korea
LG Chemical, the largest chemical firm in South Korea and the tenth largest in the world, has had tremendous success with its raw materials, chemicals, IT/electronics materials, and energy solutions products.
Their concentration on technology items has helped them stay ahead of the competition and relevant. In 2015, they employed over 20,000 people across their operations.
#10. Mitsubishi Corp Americas
- 2021 chemical sales: $30.7 billion
- Tokyo, Japan
Another brand you might recall is Mitsubishi Chemical, but not for their work in chemical products.
Most people associate Mitsubishi with automobiles, however its chemical corporation is a holding company for a number of companies, including Mitsubishi Polyester Film, Mitsubishi Chemical FP, MC Research & Innovation, and Mitsubishi Chemical Performance Polymers.
They focused on growing its holdings in 2019 and 2020, acquiring a few chemical companies throughout the world, including one in Pennsylvania and one in Switzerland.
#11. DuPont
DuPont is much older than Dow, having been founded in the early 1800s. Customers use the company’s products in a variety of industries, including building and construction, electronics, healthcare, transportation, and worker safety.
DuPont, like Dow, has undergone numerous transformations. In the 2019 reorganization, the current firm was one of three divisions of DowDupont that separated. DuPont broke off its nutrition and biosciences division in February 2021, and the entity joined with International Flavors & Fragrances.
In July 2021, DuPont completed its $2.3 billion acquisition of Laird Performance Materials. The transaction strengthens the company’s position as a leader in the provision of electronics materials for a variety of markets, including artificial intelligence, driverless vehicles, the Internet of Things, and 5G networks. DuPont materials are already widely utilized in cellphones, semiconductors, and organic light-emitting diode (OLED) displays.
Top Specialty Chemical Companies
Specialty chemicals are a type of chemical product that is created to fulfill specific needs or to cater to certain uses. These chemicals are often high-value, low-volume substances with distinct characteristics and functionalities. They are intended for a variety of industries, including medicines, agriculture, cosmetics, electronics, automotive, and others.
Companies in the speciality chemical sector frequently invest in research and development in order to generate new chemicals and improve current ones.
Here are some specifics regarding the top companies in the speciality chemical industry:
#1. DowDuPont
DowDuPont, a worldwide company founded through the merging of Dow Chemical and DuPont, is a multinational conglomerate. It is active in a variety of industries, including agriculture, materials research, and speciality products. Adhesives, coatings, electronic materials, and performance polymers are among the speciality chemicals manufactured by the company.
#2. Solvay
Solvay is one of Belgium’s leading chemical companies, specializing in innovative materials and specialized chemicals. It provides solutions for a wide range of industries, including aerospace, automotive, electronics, and healthcare.Solvay has a major presence in the United States, with a variety of manufacturing and research facilities.
The company’s dedication to innovation, sustainability, and customer service has helped it preserve its position as a global leader in specialty chemicals.
#3. PPG Industries
PPG Industries is a global manufacturer and distributor of paints, coatings, and speciality materials. This is also one of the specialty chemical companies, offering a diverse range of speciality chemicals for the industrial, automotive, construction, and consumer markets. Adhesives, sealants, optical materials, and speciality coatings are among PPG’s specialty chemicals.
#4. Huntsman
Huntsman Corporation is a global speciality chemical manufacturer and marketer. Polyurethanes, performance products, innovative materials, and textile effects are among the chemicals manufactured by the company. Huntsman’s speciality chemicals are used in a variety of industries, including automotive, construction, textiles, and electronics.
Huntsman Corporation employs over 9,000 people worldwide and has manufacturing sites and research and development centers in over 30 countries. The organization is committed to sustainability and strives to reduce its environmental effect while still providing creative solutions to its clients. Huntsman Corporation had total revenues of roughly $6.0 billion in 2020.
#5. Exxon Mobil
ExxonMobil is most commonly associated with natural gas and oil, but their massive chemical arm is nothing to laugh at. ExxonMobil, ranked seventh on this list, is a prominent actor in the chemical industry as both a source of raw materials and a producer of chemicals.
They produce a wide range of products, the majority of which are olefins, ethylene glycol, polyethylene, polypropylene, elastomers, plasticizers, solvents, process fluids, oxo alcohols, and adhesive resins.
While ExxonMobil (the parent firm) and its chemical branch had a terrible year in 2020, they are still a prominent participant in the industry and will remain so.
#6. Evonik Industries
One of the German specialty chemical companies is Evonik Industries, which provides a diverse range of speciality chemicals such as additives, functional compounds, and specialty polymers. Evonik’s products are used in a variety of industries, including coatings, adhesives, automotive, healthcare, and consumer goods.
Who Is the Biggest Chemical Company?
Dow is the largest chemical manufacturer in the United States. Dow’s chemical sales are expected to reach $55 billion in 2021. ExxonMobil is the second largest chemical corporation in the United States, with $36.9 billion in chemical sales.
What Are the Famous Chemical Companies in the US?
LyondellBasell Industries, PPG Industries, and DuPont are the four leading chemical companies in the United States based on revenue, with Dow coming in second.
Who Is the Largest Producer of Chemical?
DuPont is the world’s largest chemical producer, followed by BASF and Sinopec.
What Large Chemical Company Is in Michigan?
Dow Chemical Company, officially Dow Inc., is an American multinational corporation based in Midland, Michigan. The firm is one of the world’s top three chemical makers.
Where Is the Biggest Chemical Plant in the US?
Dow Freeport Complex in the United States. It is also North America’s largest chemical complex, employing over 7,000 people on a daily basis.
Which Chemical Industry Is Most Profitable?
Agrochemical manufacturing is regarded as one of the most profitable chemical company ideas that can be launched with a significant financial investment.
Which Chemicals Are Most in Demand?
According to the World Trade Report, the most often used chemical in India is soda ash (40%) followed by caustic soda (38%) and hydrochloric acid (12%). Petrochemicals, medicines, plastics, and insecticides are imported into India from major global markets such as China, Japan, and the European Union.
Conclusion
The chemical business is inextricably tied to a number of other industries, particularly the oil industry. Almost 80% of the chemical industry is dedicated to the production of polymers and plastics, which are primarily derived from petrochemicals. The fortunes of the chemical industry are significantly associated with the health of the general economy due to its intimate links with so many other industries.
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