Global Top 50

BASF tops the ranking for the 11th year in a row, but a combined Dow and DuPont could upend it.

RANK
2016 2015a COMPANY CHEMICAL SALES ($ MILLIONS) CHANGE FROM 2015 CHEMICAL SALES AS % OF TOTAL SALES HEADQUARTERS CHEMICAL OPERATING PROFITSb($ MILLIONS) CHANGE FROM 2015 CHEMICAL OPERATING PROFITS AS % OF TOTAL OPERATING PROFIT OPERATING PROFIT MARGINc IDENTIFIABLE CHEMICAL ASSETS ($ MILLIONS) CHEMICAL ASSETS AS % OF TOTAL ASSETS OPERATING RETURN ON CHEMICAL ASSETSd
1 1 BASF $60,653 -4.6% 95.2% Germany $6,395 11.6% 92% 10.5% $70,490 83.2% 9.1%
2 2 Dow Chemical 48,158 -1.3 100.0 U.S. 5,629 -11.7 100.0 11.7 79,511 100.0 7.1
3 3 Sinopec 42,815 2.8 15.1 China 3,106 4.7 26.7 7.3 21,743 12.1 14.3
4 4 SABIC 30,985 -9.8 87.5 Saudi Arabia 10,101 -5.5 92.6 32.6 40,112 47.5 25.2
5 5 Formosa Plasticse 27,141 -5.7 66.2 Taiwan 2,620 -7.6 34.7 9.7 41,714 68.5 6.3
6 7 ExxonMobil 26,058 -7.4 11.9 U.S. 5,917 3.9 71.8 22.7 30,053 9.1 19.7
7 8 LyondellBasell Industries 24,624 -7.7 84.4 Netherlands 5,638 -11.3 101.6 22.9 na na na
8 6 Ineos 23,530 -17.2 100.0 Switzerland 4,780 12.8 100.0 20.3 na na na
9 9 Mitsubishi Chemical 23,358 -13.9 75.2 Japan 1,954 20.4 69.0 8.4 28,598 69.6 6.8
10 10 DuPontf 19,679 -4.9 80.0 U.S. 4,081 4.0 88.0 20.7 12,748 61.2 32.0
11 12 Air Liquide 19,554 13.2 97.4 France 1,914 1.7 100.8 9.8 44,721 97.1 4.3
12 11 LG Chem 18,111 2.2 100.0 South Korea 1,718 9.2 100.0 9.5 17,671 100.0 9.7
13 15 Toray Industries 16,533 -4.4 85.4 Japan 1,427 -3.4 105.6 8.6 19,417 88.0 7.3
14 13 Linde 16,488 -1.8 84.9 Germany 2,453 4.1 96.3 14.9 na na na
15 14 AkzoNobel 15,719 -4.5 100.0 Netherlands 1,663 2.7 100.0 10.6 17,932 100.0 9.3
16 17 PPG Industries 14,270 0.2 96.7 U.S. 2,356 3.0 97.8 16.5 15,549 98.6 15.2
17 16 Evonik Industries 14,097 -5.7 100.0 Germany 1,726 -15.1 100.0 12.2 21,750 100.0 7.9
18 22 Reliance Industries 13,769 12.2 28.0 India 1,934 27.5 31.8 14.0 16,462 18.5 11.7
19 18 Braskem 13,692 0.9 100.0 Brazil 2,760 24.0 100.0 20.2 14,826 100.0 18.6
20 21 Sumitomo Chemica 13,396 -9.6 74.5 Japan 831 -30.0 67.2 6.2 16,105 61.1 5.2
21 20 Covestro 13,180 -1.5 100.0 Germany 1,395 93.8 100.0 10.6 11,331 100.0 12.3
22 23 Solvay 12,625 3.2 100.0 Belgium 1,461 14.3 100.0 11.6 26,733 100.0 5.5
23 19 Yara 11,577 -13.2 100.0 Norway 1,045 -37.8 100.0 9.0 14,357 100.0 7.3
24 28 Lotte Chemical 11,406 12.9 100.0 South Korea 2,194 57.9 100.0 19.2 13,686 100.0 16.0
25 25 Mitsui Chemicals 11,157 -9.8 100.0 Japan 940 44.0 100.0 8.4 12,199 100.0 7.7
26 24 Bayer 10,978 -4.4 28.4 Germany 2,101 0.9 27.8 19.1 16,461 20.4 12.8
27 26 Praxair 10,534 -2.2 100.0 U.S. 2,315 -6.1 100.0 22.0 19,332 100.0 12.0
28 27 Shin-Etsu Chemicalf 9,752 -17.2 85.6 Japan 2,108 9.8 96.0 21.6 na na na
29 29 Huntsman Corp 9,657 -6.2 100.0 U.S. 606 -14.2 100.0 6.3 9,189 100.0 6.6
30 30 Syngenta 9,470 -4.6 74.0 Switzerland na na na na na na na
31 33 Eastman Chemical 9,008 -6.6 100.0 U.S. 1,428 -8.9 100.0 15.9 15,457 100.0 9.2
32 39 Asahi Kasei 8,994 -3.1 50.9 Japan 777 6.6 45.3 8.6 11,334 54.6 6.9
33 31 DSM 8,769 -11.4 100.0 Netherlands 736 109.8 100.0 8.4 14,347 100.0 5.1
34 32 Air Products & Chemicals 8,554 -13.5 100.0 U.S. 1,864 -0.4 100.0 21.8 17,012 100.0 11.0
35 36 Lanxess 8,524 -2.6 100.0 Germany 597 -6.3 100.0 7.0 10,936 100.0 5.5
36 34 Chevron Phillips Chemical 8,455 -8.6 100.0 U.S. na na na na 15,465 100.0 na
37 38 Arkema 8,343 -1.9 100.0 France 813 21.5 100.0 9.7 10,020 100.0 8.1
38 37 Borealis 7,991 -6.3 100.0 Austria 1,035 30.1 100.0 12.9 10,996 100.0 9.4
39 43 Hanwha Chemicalf 7,986 15.2 100.0 South Korea 672 131.2 100.0 8.4 11,919 100.0 5.6
40 45 Ecolabf 7,653 -3.8 59.1 U.S. 1,040 -4.7 55.2 13.6 na na na
41 46 Indorama 7,220 8.5 100.0 Thailand 414 102.0 100.0 5.7 2,396 100.0 17.3
42 35 Mosaic 7,163 -19.5 100.0 U.S. 506 -62.7 100.0 7.1 16,841 100.0 3.0
43 40 Sasol 7,148 -0.7 60.7 South Africa 1,074 -31.2 65.0 15.0 14,235 53.5 7.5
44 42 DIC 6,915 -12.9 100.0 Japan 499 -3.3 100.0 7.2 7,039 100.0 7.1
45 - Tosoh 6,838 -1.4 100.0 Japan 1,024 60.2 100.0 15.0 7,202 100.0 14.2
46 41 SK Innovation 6,630 -17.2 19.4 South Korea 792 113.2 28.5 12.0 3,751 13.3 21.1
47 47 Johnson Mattheyf 6,540 13.3 40.1 England 622 11.8 84.1 9.5 3,537 88.2 17.6
48 44 Lubrizol 6,500 -7.1 100.0 U.S. na na na na na na na
49 49 PTT Global Chemical 6,151 0 62.1 Thailand 740 14.4 82.9 12.0 8,127 72.9 9.1
50 - Clariant 5,937 0.7 100.0 Switzerland 433 1.4 100.0 7.3 8,494 100.0 5.1

Note: Some figures converted at 2016 average exchange rates of U.S. $1.00 = 3.4839 Brazilian reais, 0.7377 British pounds, 6.64 Chinese renminbi, 0.9032 euros, 67.16 Indian rupees, 108.66 Japanese yen, 1159.34 Korean won, 8.3936 Norwegian kroner, 3.75 Saudi riyals, 0.9848 Swiss francs, 32.226 new Taiwan dollars, and 35.264 Thai baht. a Prior year rankings are as they appeared in the July 25, 2016, issue of C&EN. b Operating profit is sales less administrative expenses and cost of sales. c Operating profit as a percentage of sales. d Chemical operating profit as a percentage of identifiable chemical assets. e C&EN estimates. f Sales include a significant amount of nonchemical products. na = not available.