BASF tops the list for the tenth time

The US "Chemical Weekly" recently announced the latest ranking of the 2021 Global Chemical 1 Billion Dollar Club.

BASF tops the list for the tenth time

In 2020, BASF will continue to rank first in the industry with USD 73.

Although facing various challenges in 2020, the top five chemical companies in the ranking are the same as in 2019.

Sales revenue generally declined

The most notable feature of the 2021 Global Chemicals $1 Billion Club Ranking is not the change in the ranking of companies, because the ranking of the chemical companies this year is very similar to that of last year, but the general decline in sales revenue of chemical companies

Of course, the general decline in sales revenue of chemical companies is caused by the epidemic

Among the 100 companies that were shortlisted in the US "Chemical Weekly" 2021 Global Chemical 1 Billion Dollar Club Ranking, 78 companies saw a decline in chemical sales revenue in 2020, and only 22 companies saw an increase in chemical sales revenue

However, the profit situation is more complicated

　　The 100 companies listed in the US Chemical Weekly’s 2021 Global Chemical 1 Billion Dollar Club Ranking will have an average sales revenue of $11.
8 billion in 2020 and a median sales revenue of $8.
25 billion; the average operating profit in 2020 will be 726 million.
US dollars, the median operating profit is 664 million US dollars
.

　　Flexible production to respond to the epidemic

　　Many chemical manufacturers have formulated corresponding action plans in 2020 to minimize the impact of the epidemic
.
BASF’s Chairman of the Board of Executive Directors Bo Mule said, “We have responded quickly and decisively to the crisis and can flexibly adjust production plans to meet customer needs and protect employees’ health”
.
The suspension of production by automakers in the second quarter of 2020 poses a special challenge for BASF and many chemical companies
.

　　Dow Chemical CEO Jim Fitlin said in February, “Due to the global economic downturn caused by the epidemic and the sharp drop in demand due to stay-at-home orders, the company has also been affected
.
However, some industries have seen strong growth, and the company has adjusted to consumer buying behavior.
Production, taking full advantage of the strong demand in the packaging, health and sanitation, home care and pharmaceutical end markets"
.

　　East Asia is the first region in the world to be affected by the epidemic, and it is also the first region to recover
.
In March, Sinopec said that although the epidemic has caused a global economic downturn, its demand for chemical products has maintained rapid growth
.
Approaching 2021, the global chemical industry rebounded almost as sharply as the contraction in the second quarter of 2020
.
Fettering said, “The first half of 2020 was full of challenges, followed by a positive but uneven recovery
.
With the reopening of the economy and the improvement of consumer durables end markets, we increased production to capture this demand
.
Will continue to benefit from the flexible demand for packaging applications, and the number of deliveries by the end of the year will exceed the level before the epidemic
.
"

　　As the new crown vaccination rate increases and the reopening of the world has promoted economic growth, the energy consulting company Esson Huamai predicts that the global gross domestic product (GDP) will increase by 5.
7% this year after shrinking by 3.
4% last year
.
Sara Johnson, Executive Director of Eschen Huamai, said, "The resilience of the global economy shows that the world is learning how to deal with the epidemic
.
It is relatively safe to resume activities before the epidemic with some preventive measures
.
" But there are still some challenges, including unprecedented supply chain constraints, virus variants and rising inflation
.
(Zhang Chunxiao)

Transfer from: China Petrochemical News