BASF's $60 billion 700 million chemical sales eleventh times at the top of the list, the Dow Chemical to $48 billion 200 million ranked second, Sinopec ranked third with $42 billion 800 million.
The day before, the American Chemical Society's "chemical and Engineering News" magazine in 2017 "global chemical industry top 50 fresh. The list is ranked according to the company's annual sales of $60 billion 700 million in BASF chemicals, chemicals sales eleventh times at the top of the list, the Dow Chemical to $48 billion 200 million ranked second, Sinopec ranked third with $42 billion 800 million.
Sales have declined and profits have risen
Global chemical 50, in 2016 the consolidated sales revenue of $744 billion 300 million, down 4.4% in 2015, mainly due to oil prices fell, chemicals sales prices also fell, leading to chemical sales revenue decline. In 38 of the top 50 global chemical company in 2016 sales revenue fell 47, provide profit data of the company in 2016 the total profit of $98 billion 200 million, an increase of 2.6% over 2015, only 17 companies decline in profits, no company losses.
Like last year, the company selected in 2016 global chemical 50 companies, total sales revenue in 2015 dropped by 10.8%, while profits grew significantly by 15.1% compared with 2014. Market participants said that this was mainly due to the decline in oil prices and strong economic growth.
While low oil prices dragged down the price of chemicals, they slashed the cost of chemicals at the same time. Overall, the price of oil has fallen well for chemical manufacturers, especially in Asia and europe. Because they are mainly made from naphtha, at a high oil price, they are at a distinct disadvantage in the competition with the chemical producers in the United States and the middle east.
But BASF ranked number one position untenable
BASF is no suspense again at the top of the list, in 2016 industry sales revenue reached $60 billion 700 million, $12 billion 500 million higher than the dow. Analysts said that BASF ranked number one day may soon be terminated. Because this year, Dow Chemical and DuPont Co will complete the merger, in 2016 the two companies consolidated chemical sales revenue of nearly 68 billion U.S. dollars, far more than BASF's sales revenue.
BASF's management does not seem to be aware of the pressure from the merger of Dow Chemical and DuPont Co. Last year, BASF spent $3 billion 200 million from Albemarle Corporation acquired the Kay Meteer company (Chemetall), which is a metal surface treatment co.. Last November, Kurt Bock, chairman of BASF's board of directors, said he did not want to buy just to become a big company. Analysts had expected, BASF acquisition of Dow Chemical and DuPont Co merged stripping agricultural chemicals business, but the fact is that BASF abandoned the idea, the final sale of DuPont Co's agricultural chemicals business to FMC company.
We look for old Yan
This year's top 50 chemical industry top ten position changed little, Exxon Mobil with $26 billion 100 million in sales revenue ranked sixth, an increase over last year; Lian de Ba Sell company with $24 billion 600 million in sales revenue ranked seventh, an increase to $23 billion 500 million; Ineos sales revenue ranked eighth, down two.
Other big changes are that Honeywell and the Canadian Potash Corp have disappeared from the rankings. Honeywell disa