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Analysts predict that due to the strong increase in demand, the global chemical industry's total sales and profitability in 2005 will have a significant increase over 2004. Although increasing raw material and energy costs will affect the profitability of chemical companies, manufacturers generally remain optimistic about the outlook for the second half of 2005, and it is expected that the peak earnings period will continue into next year.
In 2004, BASF's chemical sales increased by 13% to US$40.84 billion; Dow Chemical's sales surged by 23% to US$40.16 billion; Bayer's sales revenue increased by 8% to US$28.44 billion; DuPont slipped. From 2nd to 5th, sales amounted to 27.34 billion U.S. dollars; since DuPont sold its Invenuda textile business to Koch Industrial Co. in April 2004, Koch Industrial’s ranking rose by 43 places from the previous year’s 64th. Bit rose to 21st.
Several petrochemical companies rank among the top 10 in the petrochemical business because of rising oil prices that drive up the sales price of the product. ExxonMobil Chemical ranked fourth, its sales revenue increased by 28% to 27.8 billion U.S.; Total Petroleum's chemical business ranked sixth, its sales increased 16% year-on-year to 26.7 billion U.S. dollars; Shell Chemicals ranked No. Seventh, BP is still eighth. The top 10 also included Sinopec and Saudi Arabia. Sinopec’s chemical sales revenue surged by 37% to US$15.96 billion in 2004. The ranking also rose by 9 places from the previous year.
Most chemical companies do not provide R&D budgets. Sasol’s R&D budget accounts for 27% of sales in South Africa. Industrial gas companies Linde, Air Products, Praxair and Air Liquide also rank in the top 10. Specialty chemical companies continue to be in the forefront of R&D investment. Syngenta’s R&D investment accounted for 11% of sales, while IFF and Monsanto both had 9%.
In addition to the BP chemical losses in the above companies, the profits of other chemical companies have increased significantly.
Global chemical company sales rankings released last year, sales revenue and profit growth with good conditions is expected to continue until next year
The US "Chemical Weekly" last week announced the 2004 chemical company rankings with sales of more than 1 billion U.S. dollars. BASF ranked first for the third consecutive year, Dow Chemical continued to be ranked second, and the third place replaced Bayer with the previous year. DuPont, Sinopec rose 9th from the previous year in ninth place. Most chemical company reports indicate that both sales revenue and profitability have shown an increase in 2004, represented by strong demand growth and higher product prices, among which basic chemicals companies have the highest sales and profit growth.