ICIS Chemical Business Reveals Top 100 Chemical Companies
ICIS Chemical Business magazine has revealed the ICIS Top 100 Chemical Companies, sponsored by global logistics provider Damco, with rankings based on 2009 sales.
"The global chemical industry was hit hard in 2009 as the financial and economic crisis slammed confidence and business froze in the early part of the year. But many companies have since managed to climb out of the depths in solid shape," saidJoseph Chang, Global Editor of ICIS Chemical Business.
"The recovery in demand and in chemicals output has persisted into 2010 with the year's second quarter marking what many see as a high point," notedNigel Davis, ICIS Insight Editor.
In 2009, German major BASF once again came out on top with$72.7bnin sales, followed by US-based Dow Chemical with$44.9bn and then US-based ExxonMobil Chemical with$41.0bn.
For the ICIS Top 100 Chemical Companies, aggregate sales declined by 19.7% in US dollars in 2009. Total profits of the Top 100 fell 17.5% in US dollars.
Looking ahead to the ICIS Top 100 Chemical Companies listing in 2010, companies will post significant sales and profit gains as demand has rebounded.
"The questions being asked now have more to do with the sustainability of growth in a much-changed financial world rather than business survival," said Davis.
"China's demand continues to provide the key to volumes but recovery in North America, Japan and Europe has yet to help drive output and capacity utilization to the levels reached before the recession," he added.
Other news from the department business & finance
