The "2006 Chemical Engineering & News" magazine recently unveiled its annual list of the Top 50 Global Chemical Companies. This year's ranking marked a significant shift compared to the past five years, with several major changes in the order of the leading firms. Dow Chemical and BASF retained their top two positions, but the rest of the rankings saw dramatic movement.
Due to rising oil and petrochemical prices, DuPont, a long-standing industry leader, fell to sixth place. It was overtaken by the chemical divisions of the world’s three largest oil companies: ExxonMobil, Total, and Chevron. These energy giants now occupy the third, fourth, and fifth spots, reflecting the growing influence of integrated energy and chemical businesses.
In addition to price fluctuations, the surge in global mergers and acquisitions has reshaped the industry landscape. Several companies made big moves, resulting in unexpected shifts in the rankings. For example, Leonard Chemical Company, which wasn’t listed last year, climbed to 12th place after acquiring Millennium Chemicals in late 2004. Ineos also made significant acquisitions over the past two years, jumping from 32nd to 17th in just one year.
Some companies were spun off from larger entities. Basel, now ranked 24th, was once a 50/50 joint venture between Shell and BASF. After becoming independent in 2005, it appeared on the list as a standalone company. Similarly, LANXESS, ranked 28th, was spun off from Bayer in 2005. Yara, a fertilizer producer, rose six places to 36th, continuing its growth since being separated from Norwegian Hydro in 2004. Meanwhile, Hydro, now with only a small chemical division, no longer appears strong in the rankings.
This year, the top 50 Chinese chemical companies reported combined sales of $665.6 billion in 2005—15% higher than in 2004. The sales threshold for inclusion increased by 3% to $5.4 billion. Profitability also improved, with the overall operating profit margin reaching 9.1%, up from 8.1% the previous year. Most companies saw profits rise, though 14 reported declines, with BP and Ciba Specialty Chemicals suffering losses due to restructuring.
Regionally, the rankings remained largely stable. The U.S. had 13 companies on the list, down from 14 last year. Europe had 22 companies, an increase from the previous year. Japan contributed eight companies, while seven others came from other regions. Overall, the list reflected both market dynamics and strategic moves shaping the global chemical industry in 2006.
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