ICIS forecasts continued growth for Chinese chemical companies as sales shrink for those in US and Europe

LONDON and NEW YORK, Sept. 15, 2025 /PRNewswire/ -- China-based Sinopec has become the world's largest chemical company in the newly released ICIS Top 100 Chemical Companies, an annual global ranking of the leading chemical producers.

Sinopec has taken the top spot from Germany-based BASF which ranked second with $67.5 billion in revenues.

Rounding out the Top 5 are US-based ExxonMobil with $55.4 billion in chemical sales, US-based Dow with $43.0 billion and China-based PetroChina with $42.2 billion.

Chinese companies comprised four of the Top 10 in terms of sales with all posting sales gains, followed by three US companies, two European companies and one Middle East company.

Most chemical producers around the world saw major profit declines in 2024, primarily driven by industry-wide overcapacity paired with weak demand, conditions that persist in 2025.

"It's been tough sledding with key profitability metrics in 2024 well off their peaks in 2021. The slide is expected to continue in 2025, with overall sales also likely to take a hit in the coming years as a number of producers shut down or divest assets while being cautious on the M&A front," said Joseph Chang, global editor of ICIS Chemical Business.

"Yet some companies will continue building capacity, bolstering their sales base, particularly in China. Look for Chinese chemical companies to continue moving up in the ICIS Top 100 rankings. In contrast, major US and European companies are likely to see sales shrink as they restructure by selling or shutting down assets," Chang added.

The ICIS Top 100 Chemical Companies ranking compiles sales, operating profits, net income, total assets, capital expenditures and R&D spending for the world's leading producers based on 2024 data. The ICIS Top 100 Chemical Companies issue of ICIS Chemical Business is available for download here

Currency conversions to US dollars for the ranking are based on year-end 2024 exchange rates.

About ICIS 

ICIS – Independent Commodity Intelligence Services – helps businesses mitigate risk, improve productivity, and capitalise on new opportunities. We make some of the world's most important markets more trusted and predictable by providing meaningful data and thought leadership that drive better, more strategic decisions. Our global presence ensures companies around the world have the targeted intelligence they need to make thousands of mission-critical decisions across energy, petrochemical and fertilizer supply chains every day. Working with our customers, we shape tomorrow by connecting markets and optimising the world's valuable resources.  With a global team of more than 800 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth. 

ICIS is part of RELX, a FTSE10 company. 

About RELX 

RELX is a global provider of information-based analytics and decision tools for professional and business customers. RELX serves customers in more than 180 countries and territories and has offices in about 40 countries. It employs more than 36,000 people over 40% of whom are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York stock exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX. The market capitalisation is approximately £63bn, €72.8bn, $85.4bn. 

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SOURCE ICIS