The "2006 Chemical Engineering & News" magazine recently published its annual list of the top 50 chemical companies globally. This year’s ranking marked a significant shift compared to the previous five years, with several major changes reshaping the industry landscape. Dow Chemical and BASF retained their top two positions, as expected. However, DuPont, a long-standing leader in the sector, fell to sixth place due to the surge in oil and petrochemical prices. The three largest oil giants—ExxonMobil, Total, and Shell—gained ground, with their chemical divisions securing third, fourth, and fifth spots.
For the past five years, Dow, BASF, and DuPont consistently occupied the top three slots. This year, though, the rankings were more dynamic. DuPont, which had been ranked third for years, was pushed out of the top three. Alongside it, Sinopec, BP’s chemical arm, Saudi Basic Industries Corporation (SABIC), and Bayer AG made their way into the top 10, reflecting growing influence from emerging markets and strategic business moves.
Global mergers and acquisitions played a key role in this year’s transformation. Several companies saw dramatic jumps in rankings due to aggressive acquisition strategies. Leonard Chemical Company, which wasn’t listed last year, climbed to 12th place after acquiring Millennium Chemicals in late 2004. Ineos, which made several large-scale purchases over the past two years, moved up from 32nd to 17th.
Meanwhile, some companies were spun off from larger entities. For example, Basell, which was once a 50-50 joint venture between Shell and BASF, became independent in 2005 and now appears on the list under its own name. Similarly, LANXESS, spun off from Bayer in 2005, also made its debut as an independent entity. Yara, a fertilizer company, rose six places to 36th, while Hydro, which previously owned Yara, lost much of its chemical presence and no longer ranks among the top 50.
In terms of performance, Chinese chemical companies collectively achieved $665.6 billion in sales in 2005, a 15% increase from the previous year. The sales threshold for entry into the top 50 rose by 3% to $5.4 billion. Profitability also improved, with the overall operating profit margin reaching 9.1%, up from 8.1% the year before. Only 14 companies reported lower earnings, with BP and Ciba Specialty Chemicals suffering losses due to restructuring efforts.
Regionally, the rankings remained largely stable. The U.S. had 13 companies in the top 50, down one from last year, while Europe had 22, an increase from the previous year. Japan maintained eight companies, and others from around the world remained consistent with the prior year’s list. Overall, the 2006 rankings reflect a rapidly evolving industry driven by price fluctuations, M&A activity, and shifting corporate strategies.
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