The chemical company Nutirien was the number one leading global chemical company in a 2022 global ranking based on net income, with a net income of approximately 6.85 billion U.S. dollars. The Shin-Etsu Chemical Company, headquartered in Japan, was ranked second, with a net income of 5.06 billion U.S. dollars.
The significance of the global chemical industry
The chemical industry is one of the most important foundations for the world’s economy as we know it. One of the primary undertakings of this industry is the transformation of raw materials into industrial chemical products, which are fundamental for other industrial sectors. The principle chemical products are polymers and plastics, which are responsible for nearly 80 percent of the industry’s production volume. Excluding the pharmaceutical sector, the global chemical industry's revenue amounts to nearly five trillion U.S. dollars in 2021.
Prominent national chemical industries: Germany and the United States
Germany has an old and well-established chemical industry. Two of the largest chemical companies worldwide, BASF and Bayer, originated there. Although BASF's revenue generated in 2022 amounted to 87.3 billion euros, BASF had a net loss of 627 million euros that year.
Like Germany, the United States is home to many of the world's leading chemical producers. The ubiquitous U.S.-based chemical companies Dow and DuPont, which were joined in September 2017 in the formation of the chemical conglomerate DowDuPont, have since been spun-off again into individual companies with discreet focus areas.
2023 ranking of the leading global chemical companies based on net income
(in billion U.S. dollars)
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Financial Times. (June 5, 2023). 2023 ranking of the leading global chemical companies based on net income (in billion U.S. dollars) [Graph]. In Statista. Retrieved September 19, 2024, from https://www.statista.com/statistics/272705/top-10-chemical-companies-worldwide-based-on-net-income/
Financial Times. "2023 ranking of the leading global chemical companies based on net income (in billion U.S. dollars)." Chart. June 5, 2023. Statista. Accessed September 19, 2024. https://www.statista.com/statistics/272705/top-10-chemical-companies-worldwide-based-on-net-income/
Financial Times. (2023). 2023 ranking of the leading global chemical companies based on net income (in billion U.S. dollars). Statista. Statista Inc.. Accessed: September 19, 2024. https://www.statista.com/statistics/272705/top-10-chemical-companies-worldwide-based-on-net-income/
Financial Times. "2023 Ranking of The Leading Global Chemical Companies Based on Net Income (in Billion U.S. Dollars)." Statista, Statista Inc., 5 Jun 2023, https://www.statista.com/statistics/272705/top-10-chemical-companies-worldwide-based-on-net-income/
Financial Times, 2023 ranking of the leading global chemical companies based on net income (in billion U.S. dollars) Statista, https://www.statista.com/statistics/272705/top-10-chemical-companies-worldwide-based-on-net-income/ (last visited September 19, 2024)
2023 ranking of the leading global chemical companies based on net income (in billion U.S. dollars) [Graph], Financial Times, June 5, 2023. [Online]. Available: https://www.statista.com/statistics/272705/top-10-chemical-companies-worldwide-based-on-net-income/