The latest ranking of the world's top 50 chemical companies is announced, and 8 mainland Chinese holding companies are on the list

On July 24, the US "Chemical and Engineering News" (C&EN) released the list of the top 50 global chemical companies in 2022
.
The top three remained unchanged from last year, and were still BASF, Sinopec and Dow
.

In 2021, the world chemical industry is not only growing, but also actively growing
.
The world's 50 largest chemical companies will have combined sales of $1.
1 trillion in 2021, the fiscal year that forms the basis of the ranking, according to the latest Global 50 survey by C&EN
.
This is a 38% increase from the same 50 companies combined in 2020
.

There are two important reasons for the surge in chemical sales and earnings in 2021
.
First, the world economy declined in 2020 due to the COVID-19 pandemic, and as the world economy recovers in 2021, so will chemical sales
.

Also associated with the surge is inflation, which some countries around the world have not seen in decades
.
U.
S.
benchmark oil prices rose from $47.
07 a barrel in December 2020 to $71.
69 a year later, according to the U.
S.
Energy Information Administration
.

And most of the petroleum-based chemical industry responded by raising physical prices
.
Ethylene prices in the U.
S.
and Europe are up 35% and 60%, respectively, in 2021, according to LyondellBasell Industries, while polyethylene prices are up about 45% and ammonia prices have more than doubled
.

As a result, the strongest sales growth among the Global 50 came from petrochemical companies
.
Sabic (Saudi Basic Industries Corporation), Formosa Plastics, PetroChina, LyondellBasell and ExxonMobil all increased sales by 40% or more
.
Fertilizer makers such as Yara, Nutrien and Mosaic have also climbed the peak of commodity prices, and their sales have also grown spectacularly
.

In the latest rankings, some companies have dropped from their 2021 rankings, mainly because they don't have enough sales to make the cut
.
They are US petrochemical manufacturer Westlake (Westlake Chemical), US agrochemical manufacturer Corteva Agriscience (Corteva Agricultural Technology), and Japanese chemical manufacturers Tosoh and DIC
.

EuroChem Group, one of the fertilizer makers boosted by rising commodity prices, debuted at No.
44, joining the ranking for the first time
.
Thailand's PTT Global Chemical is back in 46th place after a one-year hiatus
.

It is worth mentioning that two new companies from mainland China will be added to the 2022 Global Chemical Top 50 ranking, namely Tongkun Group, which ranks 48th, and Hengyi Petrochemical, which ranks 50th
.

The full list is as follows:

In the latest ranking of the top 50 global chemical companies, a total of 8 companies controlled by mainland China are on the list, namely Sinopec, PetroChina, Hengli Petrochemical, Syngenta Group, Wanhua Chemical, Rongsheng Petrochemical, Tongkun Group, Hengyi Petrochemical
.
Among them, Sinopec ranked the same as the previous year, and the rest of the rankings increased.
Rongsheng Petrochemical rose the most, up 15 places
.