Did you know that the United States is one of the largest chemical producers in the world?
It’s no surprise once you start looking into the statistics and see the massive amounts of money made and chemicals produced in America each year. In 2017, the chemical industry in America had a market value of $4250 billion.
Since there are so many companies that make up the chemical industry, and roles that make the industry so successful, we’re going to look at the biggest chemical companies in the world. All of these companies play an important role in the global production of chemicals, and employ thousands of people.
Let’s take a look at the world’s 11 largest chemical companies.
BASF Catalysts
2021 chemical sales: $93.0 billion
Ludwigshafen, Germany
Topping nearly all of the lists is BASF, a multinational company that reported $60.9 billion in revenue in 2020, despite the pandemic. BASF includes many smaller companies and ventures, and in all the company operates in 80 countries with 390 production sites across the globe.
The future is bright for BASF as they continue to expand and come close to completing their newest chemical complex, a plastics compounding plant in China.
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China Petroleum Chemical Corporation (Sinopec)
2021 chemical sales: $65.8 billion
Beijing, China
Founded in 2000, Sinopec has quickly climbed its way to the top of the chemical industry. Recently, COVID threw the company for a loop as most of their operations are based in China, which was impacted first during the pandemic.
Over time, as chemical compounds proved necessary in chemical manufacturing, they were able to mostly bounce back in the latter half of the year.
They are mainly involved in producing organic chemicals, synthetic resin, synthetic fiber monomer and polymer, synthetic fiber, synthetic rubber, and chemical fertilizer, but also have small operations in other compounds.
The Dow Chemical Company
2021 chemical sales: $55.0 billion
Midland, MI
The first American company on the list, DOW is known for its production of plastics, chemicals, and agricultural products. DOW operates 109 facilities in 31 countries, making it a major global player with nearly 37,000 employees.
The COVID pandemic hit DOW as demand for some of its products decreased while others stayed the same, resulting in a mixed year for them. Regardless, they were able to keep their spot in the top three chemical producers.
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Saudi Basic Industries Corporation (SABIC)
2021 chemical sales: $43.2 billion
Riyadh, Saudi Arabia
Operating as a subsidiary of the Saudi state-owned Saudi Aramco, SABIC works mainly with petrochemicals, chemicals, industrial polymers, fertilizers, and metals.
This strategic union of upstream and downstream production (the raw materials and the refining/production) allows them to dive deeply into the industry and gives them an interesting advantage.
In all, the company employs around 30,000 people across the globe, most of them coming from their home country of Saudi Arabia.
Formosa Plastics
2021 chemical sales: $43.2 billion
Kaohsiung City, Taiwan
Focusing mainly on polyvinyl chloride (PVC) products and resins, Formosa Plastics Corp is one of the biggest plastics companies in the world. In 2018, Forbes ranked them as number 758 on their Global 2000 list of largest publicly traded companies.
In 2019 and 2020, they advanced projects to increase their production capacity with plants in Point Comfort, TX and St. James Parish, LA. With important manufacturing sites across the world, Formosa Plastics Corp employs about 10,000 people globally.
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INEOS
2021 chemical sales: $39.9 billion
London, England, UK
After years of mergers and acquisitions, INEOS has risen from a small chemical company to one of the top 10 players in the global industry. As of 2020, their efforts paid off and they reported total assets of nearly $13 billion.
The company’s focus is on petrochemicals and specialty compounds, but they also have other manufacturing capabilities. In total, they employ about 7,500 people.
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PetroChina
2021 chemical sales: $39.7 billion
Beijing, China
PetroChina is the listed arm of the state-owned China National Petroleum Corporation (CNPC). This company is currently the largest oil and gas producer in in Asia.
Like many companies, PetroChina is seeing rapid growth as it recovers from the economic slowdown that came with the Covid-19 Pandemic. There is much activity in its future related to chemical production that will only increase its standing in the industry.
LyondellBasell
2021 chemical sales: $40.0 billion
Rotterdam, Netherlands
A truly multinational company, LyondellBasell is known for its polyethylene and polypropylene technologies and products that it manufactures out of its core facilities in the Netherlands, the US, and the UK.
Across all of their locations, they employ almost 20,000 people. While 2020 proved difficult for them, they look like they’ll have a bright future with new plants and a focus on recycling research.
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LG Chemical
2021 chemical sales: $37.3 billion
Seoul, South Korea
Ranking as the largest chemical company in South Korea, and the 10th largest globally, LG Chemical has been hugely successful with their raw materials, chemicals, IT/electronics materials, and energy solutions products.
Their focus on tech products has helped them stay ahead of the game and remain relevant among other competitors. As of 2015, they had over 20,000 employees across their operations.
Exxon Mobil
2021 chemical sales: $36.9 billion
Houston, TX
When you think of ExxonMobil, you probably think of natural gas and oil, but their huge chemical arm is nothing to scoff at.
Coming in at number seven on this list, ExxonMobil’s efforts in the chemical industry make them a key player as both a source for raw materials and chemical production.
They are involved in numerous types of production with most of their manufacturing focusing on olefins, ethylene glycol, polyethylene, polypropylene, elastomers, plasticizers, solvents, process fluids, oxo alcohols, and adhesive resins.
While 2020 proved to be a difficult year for both ExxonMobil (the parent company) and its chemical arm, they’re still a major player in the industry and will continue to be so.
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Mitsubishi Corp Americas
2021 chemical sales: $30.7 billion
Tokyo, Japan
Mitsubishi Chemical is another name you might recognize, but not for their work in chemical products.
Best known for their cars to most consumers, their chemical corporation is an umbrella company for many subsidiaries, including Mitsubishi Polyester Film, Mitsubishi Chemical FP, MC Research and Innovation, and Mitsubishi Chemical Performance Polymers.
In 2019 and 2020, they turned their focus to expanding their holdings and acquired a few chemical companies across the world, including one in Pennsylvania and one in Switzerland.
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Along with the Dow and ExxonMobil, here are five additional organizations that make up the largest chemical companies in the United States.
Dow
2021 chemical sales: $55.0 billion
Midland, MI
The Dow Chemical Company (Dow) is engaged in the manufacture and sale of chemicals, plastic materials, agricultural and services, and other specialized products and services.
It delivers a range of products and services to customers in approximately 160 countries to growth sectors such as electronics, water, energy, coatings and agriculture.
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ExxonMobil
2021 chemical sales: $36.9 billion
Houston, TX
Exxon Mobil Corporation, stylized as ExxonMobil, is an American multinational oil and gas corporation headquartered in Irving, Texas.
The company states that its mission is to provide quality chemical products and services in the most efficient and responsible manner to generate outstanding customer and shareholder value while remaining committed to the principles of sustainable development.
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DuPont
2021 chemical sales: $16.7 billion
Wilmington, Delaware
DuPont de Nemours, Inc., commonly known as DuPont, is an American company formed by the merger of Dow Chemical and E I du Pont de Nemours and Company on August 31, 2017, and the subsequent spinoffs of Dow Inc.
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Chevron Phillips Chemical
2021 chemical sales: $14.1 billion
The Woodlands, Texas
Chevron Phillips Chemical is a petrochemical company that is jointly owned by the Chevron and Phillips 66 corporations. The company has 36 manufacturing and research facilities in eight countries, as well as 24 facilities in 13 U.S. states.
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The Mosaic Company
2021 chemical sales: $12.4 billion
Tampa, Florida
Mosaic is the world’s leading producer and marketer of concentrated phosphate and potash, two of the primary nutrients required to grow the food the world needs.
Mosaic engages in every phase of crop nutrition, from the mining of resources to the production of crop nutrients, feed and industrial products for customers around the globe.
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Eastman Chemical
2021 chemical sales: $10.5 billion
Kingsport, Tennessee
Eastman Chemical Company (Eastman) is a global specialty chemicals company that produces a range of advanced materials, chemicals and fibers that are found in products people use every day.
Eastman has over 40 manufacturing sites in 16 countries and equity interests in joint ventures that supply chemicals, plastics, and fibers products to customers throughout the world.
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Air Products
2021 chemical sales: $10.3 billion
Allentown, Pennsylvania
With 18,900 employees and operations in more than 40 countries, Air Products serve customers across a wide range of industries from food and beverage, health and personal care to energy, transportation and semiconductors.
They supply a unique portfolio of atmospheric gases, process and specialty gases, performance materials, equipment and services.
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What is the largest chemical company in the world?
The largest chemical company in the world is BASF Catalysts. With $93 billion in chemical sales, BASF is by far the largest chemical company in the world. Its closest competitor, Sinopec had just over $65 billion in chemical sales.
What is the largest chemical company in the United States?
The largest chemical company in the U.S. is Dow. In 2021, Dow’s chemical sales totaled $55 billion. The second largest chemical company in the United States is ExxonMobil with $36.9 billion in chemical sales.
What are the five types of chemical industry?
The five types of chemical industry are:
Agricultural chemicals
Basic chemicals
Specialty chemicals
Consumer products
Pharmaceuticals
This is how the U.S. government breaks up the U.S. Chemical Sector for organizational purposes.
