Top 100 Chemicals Manufacturers Companies

Top Performers

ChemAnalyst has conducted a comprehensive analysis and ranking of companies based on their performance, considering key indicators such as net income, operating income, total assets, capital expenditures (Capex), and research and development (R&D) expenses in compared to .

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The performance of the leading chemical companies in has been marked by significant financial outcomes, driven by varying factors across different market conditions and geographies. Here, we delve into the financial performance of some of the top chemical companies, shedding light on their net income, key achievements, and challenges faced during the year.

Top 10 By Operating Income

Shin Etsu reported impressive financial growth for the fiscal year ending March 31, (FY). The company achieved a 35.4% increase in consolidated net sales compared to the previous fiscal year, maintaining over 30% growth for two consecutive years. This growth was primarily driven by an increase in sales volume of PVC resin and effective price negotiations reflecting market fluctuations. Consolidated operating income surged by 47.6%, with all business segments recording double-digit profit growth. Notably, the Infrastructure Materials business led the growth with a 70.3% increase in profit.

FMC experienced a challenging year with a 23% decrease in revenue, amounting to $4.49 billion. This decline was attributed to a significant volume decline and lower pricing, despite favourable cost controls and lower input costs. However, on a GAAP basis, FMC reported a substantial increase in full-year net income, reaching $1.32 billion, up 78% from the previous year. This surge was mainly due to one-time tax benefits realized in the fourth quarter.

LyondellBasell reported a net income of $2.1 billion for , with earnings of $6.46 per share. The company faced several market headwinds, including soft global demand and economic uncertainty, which impacted margins in various segments such as Olefins & Polyolefins, Intermediates & Derivatives, and Advanced Polymer Solutions. Despite these challenges, the oxyfuels segment experienced record annual earnings due to tight supply and strong gasoline crack spreads. Full-year EBITDA was $4.5 billion, increasing to $5.2 billion when excluding identified items.

Albemarle's operations in China played a crucial role in its financial performance, with net sales to China accounting for 30% of total net sales in . The company faced significant geopolitical and regulatory risks, including tariffs and trade restrictions between the U.S. and China, as well as energy consumption targets imposed by the Chinese government. These factors, coupled with environmental regulations and the Uyghur Forced Labor Prevention Act, posed challenges to Albemarle's supply chain and operational efficiency. Despite these challenges, Albemarle continues to focus on its strategic investments in China and the commissioning of a new lithium conversion plant in Meishan.

The following is an excerpt from Chemical Week by S&P Global's Billion-Dollar Club, an annual ranking of the top chemical companies in the world by revenue. For the complete list, click here.

Sales for the chemical industry&#;s top companies grew strongly for the second straight year in , but persistent inflation meant that results were more mixed than top-line figures suggest. The top of the industry&#;s leaderboard was relatively stable.

BASF SE topped Chemical Week&#;s Billion-Dollar Club ranking of the chemical industry&#;s top companies by sales for the seventh time in the past 10 years in . BASF has only been knocked off its perch by the short-lived combination of Dow Inc. and DuPont de Nemours, Inc. in and and by China Petrochemical Corp. (Sinopec) in .

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The industry&#;s leaderboard was relatively static from to . China National Chemical Corp. moved up to third place as the Chinese economy reopened in fits and starts. Sinopec, Formosa Plastics Corp., Dow, LyondellBasell Industries NV, Saudi Basic Industries Corp., Exxon Mobil Corp. and INEOS Group Ltd. all reappeared in the top 10. Nutrien Ltd. moved into the number 10 spot, reflecting a year in which fertilizer prices soared in response to Russia&#;s invasion of Ukraine and rebounding demand in agriculture.

The ranking was relatively stable beyond the top 10, as well. Linde PLC, Mitsubishi Chemical Corp., Hengli Petrochemical Co., Ltd., L&#;Air Liquide SA, Rongsheng Petrochemical (S) Pte. Ltd., Bayer AG, Wanhua Chemical Group Co., Ltd., LG Chem, Ltd. and The Sherwin-Williams Company all ranked in the top 20 companies by sales in both and .

Some firms continued to slide. DuPont, for example, was the 39th-largest chemical maker by revenues in , down from number 29 in and number 13 in . The company, which has shed notable assets such as its mobility and materials business in recent years, was routinely at or near the top in the s and last held the top spot in .

Industry revenues rose strongly again in . Among the 109 companies in CW&#;s Billion-Dollar Club for , the median year-over-year revenue increase was 17%. While this is a solid figure, it represents a decline from , when the median revenue increase for Billion-Dollar Club companies was 30% -- although that number reflects the very strong bounceback from the COVID-19 recession.

Profit numbers for companies in CW&#;s Billion-Dollar Club show how inflation started catching up with the industry in after a period in which pricing power preserved margins. Median operating income for companies included in the ranking declined by 2% year over year, despite the double-digit rise in median revenue. Results for the industry generally weakened as the year progressed, with many firms flagging a weak operating environment by the fourth quarter.

Overall, the bumpy path trod by chemical makers in has continued in , and it does not appear to be getting much smoother. The most recent set of quarterly earnings reports were mixed to negative, with most companies seeing continued soft, albeit not deteriorating, demand.

Global GDP growth is expected to fall to 2.5% this year after totaling 3.1% in , according to S&P Global Market Intelligence. Industrial production, a key indicator of chemicals demand, is forecast to grow globally by just 0.9% in after increasing 2.8% in . Most of the developed world, including the US, the eurozone, the UK and Japan, is forecast to see negative industrial production growth this year. China&#;s economy is widely seen to be faltering as well.

Sotirios Frantzanas, Jameson Croteau, Jane Zhou and Rob Westervelt also contributed to this article

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