Current State of the Top 10 Largest Chemical Companies in the World
The top 10 largest chemical companies in the world saw their average percent of sales grow by 13.65 percent Year-over-year — paving the way for strong growth in the chemical industry. What is the chemical industry and who are the 10 largest chemical companies in the world; both by sales and market cap in 2020? The chemical industry is compromised of all the companies that manufacture, produce, and sell industrial chemicals. The chemical industry used to be worth USD 1.8 trillion in 2002 and is currently generates over USD 4.1 trillion in sales annually — leading to stellar growth and an exceptional outlook for investment and expansion opportunities at a B2B level. The largest chemical company in the world is DuPont, followed by BASF, and Sinopec. This post will breakdown the top 10 largest chemical companies in the world by sales and market cap to give you the best analysis on where to invest and who to create B2B connections with. The article will answer the following questions:
- Who is the largest chemical company in the world?
- Who is the largest chemical manufacturing company in the world?
- How much is the chemical industry worth?
- Who are the fastest risers in the chemical industry?
- Why is the chemical industry growing despite economic slowdown?
- What’s the future of the chemical industry?
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Chemical Industry Trends and Stats
- DuPont is the largest chemical company in the world by sales, generating sales of USD 85.97 billion last year.
- ExxonMobil Chemical is the largest chemical company in the world by market cap with an estimated market cap of USD 308.91 billion as of 2020.
- BASF used to be the largest chemical company in the world by sales from 2006 to 2017 but has since been surpassed by Sinopec.
- With sales increasing 37.6 percent from last year, DuPont is the largest chemical company in terms of sales growth among the 10 largest chemical companies.
- The chemical industry comprises approximately 15% of the US manufacturing economic sector.
- The chemical industry growth will exceed that of the U.S. economy through 2024.
- Revenue in the global chemical industry was around USD 4.1 trillion in 2018.
- High demand for chemicals used in manufacturing will grow due to a rise in chemical production capacity as new chemical facilities open.
- Consumer spending in the USA is the biggest factor in growth in the chemical industry.
Top 10 Largest Chemical Companies in the World by Sales 2020
Who are the top 10 largest chemical companies in the world by sales as of 2020? The following is a list of biggest chemical companies ranked by sales generated in USD billions.
Who is the largest chemical company in the world? DuPont surpassed BASF as the largest chemical company in the world in terms of sales finally, after BASF holding the record as the top chemical producer for 12 years. DuPont is an American chemical company resulting from the merger between Dow Chemical and DuPont. DuPont’s headquarters are in Wilmington, Delaware and last year brought in annual sales figures of USD 85.97 billion. DuPont has a current market cap of USD 52.69 Billion
- Founded: 2017
- DuPont Headquarters: Wilmington, Delaware, USA
- DuPont Sales: USD 85.97 billion
- DuPont Market Cap: USD 52.69 billion
- DuPont Number of Employees: 98,000
What Chemical Products Does DuPont Make?
Is BASF the largest chemical company in the world? For 12 years BASF used to be the largest chemical company in the world but was surpassed in chemical sales by DuPont in 2018. Before BASF’s 12-year run as the largest chemical company in the world, Dow Chemicals used to be the largest. BASF is a German chemical company and with sales figures of USD 74.06 billion generated last year and a current market cap of USD 71.58 Billion — making BASF is one of the largest chemical companies in the world. BASF has current business segments in chemicals, plastics, performance products, functional solutions, agriculture, biotechnology, and oil and gas. BASF’s ranking in the chemical industry has remained consistently in the top 2 over the last few years.
- Founded: 1865
- BASF Headquarters: Ludwigshafen, Germany
- BASF Sales: USD 74.06 billion
- BASF Market Cap: USD 71.58 billion
- BASF Number of Employees: 117,628
What Products Does BASF Make?
- Performance chemicals
- Crop technology
- Crude oil and natural gas exploration and production
Ranking 3rd on BizVibe’s list of the top 10 largest chemical companies in the world is Sinopec, a Chinese oil and gas enterprise based in Beijing, China. Sinopec saw a 22% increase in sales last year, the largest rise among the top chemical companies on this list. In addition to oil and gas exploration, Sinopec is mainly known for its production and sales of petrochemicals, chemical fibers, chemical fertilizers, and other chemical products.
Last year, Sinopec generated sales of USD 69.21 billion and has a current market cap of USD 84.45 Billion — making it one of the biggest chemical companies in the world by sales and valuation.
- Founded: 2000
- Sinopec Headquarters: Beijing, China
- Sinopec Sales: USD 69.21 billion
- Sinopec Market Cap: USD 84.45 billion
- Sinopec Number of Employees: 249,142
What Products Does Sinopec Make?
- Natural gas
SABIC is 4th on this list of the top 10 largest chemical companies in the world by sales and market cap. SABIC is a Saudi multinational chemical manufacturing company that is a subsidiary of Saudi Aramco. SABIC is known for its petrochemicals, chemicals, industrial polymers, fertilizers, and metals products and saw a sales increase of more than 12 percent from last year — one of the fastest risers on this list of the top chemical companies in the world.
- Founded: 1976
- SABIC Headquarters: Riyadh, Saudi Arabia
- SABIC Sales: USD 42.12 billion
- SABIC Market Cap: USD 72.40 billion
- SABIC Number of Employees: 35,000
What Products Does SABIC Make?
- Chemicals and intermediates
- Industrial polymers
- Fertilizers and metals
Ranking 5th on this list of the top 10 largest chemical companies in the world is Ineos, a UK-based multinational chemical company headquartered in London. Ineos is compromised of 20 business units, all operating separately. Last year Ineos generated sales of USD 36.97 billion and has 22,000 employees worldwide specializing in the production and manufacturing of chemical products, petrochemicals, and even plastics.
- Founded: 1998
- Ineos Headquarters: London, UK
- Ineos Sales: USD 36.97 billion
- Ineos Number of Employees: 22,000
What Chemical Products Does Ineos Make?
- Chemical substances
Ranking 6th on this list of the biggest chemical companies is Formosa Plastics Corp, a Taiwanese plastics company based in Taiwan, known primarily for producing polyvinyl chloride resins and other plastic products. Formosa generated USD 36.89 billion in sales last year — making it the 6th largest chemical company in the world by sales. In this same span, sales grew by 13.8 percent year-over-year.
- Founded: 1954
- Formosa Plastics Corp Headquarters: Kaohsiung City, Taiwan
- Formosa Plastics Corp Sales: USD 36.89 billion
- Formosa Plastics Corp Number of Employees: 10,000
What Chemical Products Does Formosa Plastics Corp Make?
- PVC (Polyvinyl Chloride) resins
- High density polyethylene
- Tairylan acrylic fiber
- Crylic acid and ester
- Carbon fiber
- Caustic soda
- PVC modifier
- Calcium carbonate
ExxonMobil Chemical ranks number 7th in the world by sales among the largest chemical companies. Despite ranking 7trh in sales, ExxonMobil Chemical is the largest chemical company in the world by market cap at a valuation of USD 308.91 billion last year.
- Founded: 1999
- ExxonMobil Chemical Headquarters: Irving, Texas, USA
- ExxonMobil Chemical Sales: USD 32.44 billion
- ExxonMobil Chemical Market Cap: USD 308.91 billion
- ExxonMobil Chemical Number of Employees: 71,000
What Chemical Products Does ExxonMobil Chemical Make?
- Crude oil
- Oil products
- Natural gas
- Power generation
LyondellBasell ranks 8th on this list of the largest chemical companies in the world with sales figures of USD 30.78 billion generated last year. LyondellBasell is a public multinational chemical company that produces ethylene, propylene, polyolefins, and oxyfuels. The company’s legal headquarters are in Rotterdam, Netherlands.
- Founded: 2007
- LyondellBasell Chemical Headquarters: Rotterdam, Netherlands
- LyondellBasell Chemical Sales: USD 30.78 billion
What Chemical Products Does ExxonMobil Chemical Make?
Ranking 9th on this list of the top 10 largest chemical companies in the world is Mitsubishi Chemical Holdings, a Japanese company formed in October 2005 from the merger of Mitsubishi Chemical Corporation and Mitsubishi Pharma Corporation. Headquartered in Tokyo, Japan, the company saw a sales grow by 7.1 percent last with last year’s sales reaching USD 28.74 billion — making this Japanese chemical company one of the biggest chemical companies in the world.
- Founded: 2005
- Mitsubishi Chemical Headquarters: Tokyo, Japan
- Mitsubishi Chemical Sales: USD 28.74 billion
- Mitsubishi Chemical Number of Employees: 54,111
10. LG Chem
Rounding out BizVibe’s list of the top 10 largest chemical companies in the world is LG Chemical, the largest Korean chemical company in the world. Last year, LG Chem generated annual sales of USD 25.63 billion, primarily due to buying soluble organic light-emitting diode technology from DuPont.
- Founded: 1947
- LG Chem Headquarters: Seoul, South Korea
- LG Chem Sales: USD 25.63 billion
- LG Chem Number of Employees: 20,000
What Chemical Products Does LG Chem Chemical Make?
- Raw materials
- IT and electronics materials
- Energy solutions
This is BizVibe’s list of the top 10 largest chemical companies in the world in 2020, ranked by a combination of sales and market cap. As main customers spend on R&D and the largest chemical companies continue to push the envelope in the industry, the chemical industry will continue to take leaps forward. Last year, all of the top 10 chemical companies saw an increase in the percent of chemical sales of their products.
Largest Chemical Companies by Sales
Here is the complete list of the top 50 largest chemical companies in the world by sales as of last year.
Chemical Sales (USD millions)
% Sales Increase (YoY)
|4||Sabic||42,120||Saudi Arabia Riyadh, Saudi Arabia||12|
|6||Formosa Plastics||36,891||Taipei, Taiwan||13.8|
|7||ExxonMobil Chemical||32,443||Irving, USA||13.1|
|8||LyondellBasell Industries||30,783||Rotterdam, Netherlands||8.7|
|9||Mitsubishi Chemical||28,747||Tokyo, Japan||7.1|
|10||LG Chem||25,637||Seoul, South Korea||9.7|
|11||Reliance Industries||25,167||Mumbai, India||37.3|
|13||Air Liquide||24,322||Paris, France||2.8|
|14||Toray Industries||18,651||Tokyo, Japan||8.7|
|15||Evonik Industries||17,755||Essen, Germany||4.2|
|18||Sumitomo Chemical||16,081||Tokyo, Japan||8.7|
|19||Braskem||15,885||São Paulo, Brazil||17.7|
|20||Lotte Chemical||15,051||Seoul, South Korea||4.2|
|21||Linde plc||14,900||Guildford, UK||30.3|
|22||Shin-Etsu Chemical||14,439||Tokyo, Japan||10.6|
|23||Mitsui Chemicals||13,432||Tokyo, Japan||11.6|
|26||Chevron Phillips Chemical||11,310||The Woodlands, USA||24.8|
|29||Asahi Kasei||10,654||Tokyo, Japan||8.1|
|32||Eastman Chemical||10,151||Kingsport, USA||6.3|
|34||SK Innovation||9,719||Seoul, South Korea||14.4|
|36||Huntsman||9,379||The Woodlands, USA||12.2|
|37||Wanhua Chemical||9,172||Yantai, China||14.1|
|38||PTT Global Chemical||8,969||Bangkok, Thailand||15.7|
|39||Ecolab||8,964||St. Paul, USA||11|
|40||Air Products & Chemicals||8,930||Allentown, USA||9.1|
|41||Westlake Chemical||8,635||Houston, USA||7.4|
|45||Sasol||8,110||Sandton, South Africa||4.2|
|47||Johnson Matthey||7,579||London, UK||16.1|
|49||Hanwha Chemical||7,273||Seoul, South Korea||3.3|
Source: Chemical & Engineering News
- 48 out of 50 chemical companies saw sales rise in 2018 over 2017.
- The average sales increased 13.65 percent from 2017 to 2018 for the top chemical companies on this list — making the chemical industry lucrative for B2B deals in 2020.
- BASF held the top position in annual sales for 12 years from 2006 to 2017, surpassed by DuPont in 2018.
Largest Chemical Companies by Market Cap
Which chemical companies rank the highest by their estimated market cap? These are the top 10 largest chemical companies by market cap in 2020.
Market Cap (USD billions)
|1||ExxonMobil Chemical||308.91||Irving, USA|
|2||The Linde Group||108.45||Dublin, Ireland|
|4||Bayer AG||74.31||Leverkusen, Germany|
|5||Sabic||72.4||Saudi Arabia Riyadh, Saudi Arabia|
|7||Air Liquide||62.4||Paris, France|
|9||Air Products & Chemicals||50.15||Pennsylvania, USA|
|10||Shin-Etsu Chemical||45.86||Tokyo Japan|
Source: Value Today
- ExxonMobil Chemical is the largest chemical company in the world by an estimated market cap.
- Ireland-based The Linde Group and the Chinese chemical company Sinopec round out the 3 biggest chemical companies by market cap in 2020.
The Future of the Chemical Industry
Consumer spending and the rise of chemical production to take advantage of the shale gas boom is leading to the exceptional rise of chemical sales. This growth is led by the top 10 largest chemical companies in the world as they increase production and open new facilities. Expect the industry to keep growing to take advantage of economic prosperity.