Petrochemicals are one of the most important chemicals today. They are derived either from natural gas or petroleum. These petrochemicals weren’t really useful before world war, but the war required cheaper and better products, therefore, petrochemicals came into existence and with them the petrochemical industry emerged.
In current times these companies are an integral part of a country’s economy. Petrochemicals don’t really reach directly to consumers; they are an essential ingredient in the transformation of other products which are required for our livelihood. The products include kitchen appliances, textile, furniture, medicines, pacemakers, shoes, computers, explosives, fertilisers, herbicides, perfume, safety glass, dyes, detergents, shampoo and much more. Checkout the top 10 best and largest petrochemical companies in the world in 2018.
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Bayer is a multinational company which specialises in pharmaceuticals and life sciences. Its dominant areas of business are human and veterinary pharmaceuticals, agricultural chemicals, biotechnology products, healthcare products and high-value polymers. Some of its biggest contributions include Aspirin, Heroin, Phenobarbital, Prontosil, Ciprofloxacin, and Yaz. It was a part of IG Farben from 1925 to 1952 though it became a singular company afterward. The German company played a vital role in the Wirtschaftswunder during the Cold War. Bayer was founded more than 150 years ago on 1st August 1863 by Friedrich Bayer. Its CEO is Werner Baumann and headquarters is in Leverkusen, Germany.
Ineos is a British chemical company. The multinational company is among the biggest companies in the chemical industry. And it is also in top ten manufacturing companies for chemicals in terms of sales revenue. It is formed by a union of around 20 business units which are stand-alone and they have their own board. Ines was founded by Jim Ratcliffe in 1998. Its headquarters are in London, UK though it also has a registered office at Lyndhurst, Hampshire, United Kingdom. It has more than 29,500 million USD chemical sales.
E. I. du Pont de Nemours and Company is the name of the company though it normally called as DuPont. It is a multinational conglomerate and is credited for the creation of many polymers. Some of the biggest names are Vespel, Teflon, Mylar, neoprene, nylon, Zemdrain, M5 fiber, Tyvek, Lycra, Corfam, Sorona, and Kevlar. The American company has also developed refrigerants such as Freon and later focused on more environmentally friendly products. It has even developed synthetic pigments and paints like ChromaFlair. It is the 4th biggest chemical company in terms of market capitalisation and ranks 8th for revenue. They merged with The Dow Chemical Company to form DowDuPont Inc. DuPont was founded in 1802 by Eleuthere Irenee du Pont. Its headquarters is in Wilmington, Delaware, United States.
LyondellBasell is a multinational conglomerate in the chemical business. The company has roots in America and Europe, it was incorporated in the Netherland. Lyondell Chemical Company was acquired by Basell Polyolefins resulting in the creation of LyondellBasell. It was on the brink of bankruptcy in January 2009 but managed to rise from it in April of 2010. It was founded in 2007 and its headquarters is in Houston, Texas though it manages its global operations from London, United Kingdom. Bhavesh V. “Bob” Patel is the CEO of the company.
6. Formosa Plastics
Formosa Plastics Corporation is a company which focuses on the plastics industry. The Taiwanese company was previously called Formosa. It essentially focuses on the creation of PVC (polyvinyl chloride) resins and other products which are plastic. The Formosa Plastics Group was created around the company and it still is the main operation of the Group. The company was founded in 1954 and its headquarters is in Kaohsiung City, Taiwan. Its sales in chemicals are more than $37,000 million.
ExxonMobil is a multinational gas and oil corporation. The American company is the biggest direct scion of John D. Rockefeller’s Standard Oil Company. It is the 7th biggest company in terms of revenue and it is 9th in Forbes Global 2000 list. It is also the biggest Big Oil Company in the world with its gigantic production of 3.921 million barrels of oil equivalent. The merger of Standard Oil Company of New Jersey (Exxon) and Standard Oil Company of New York (Mobil) as they were formerly called resulted in the creation of ExxonMobil. It was founded on 30th November in 1999. Its headquarters is in Irving, Texas, the US and its CEO and chairman are Darren Woods.
SABIC is an acronym for Saudi Basic Industries Corporation which specializes in the chemical industry. It produces various chemicals, industrial polymers, intermediates, metals, and fertilizers. The multinational company is the biggest public company in Saudi Arabia. The Saudi Government holds a big 70% shares in the company. It is even the biggest company in the Middle East. In 2013 it was ranked 4th in world’s largest chemical producers and is still the 2nd biggest ethylene glycol producer in the world. It is also the 3rd largest manufacturer of polyethylene, 4th largest polyolefins manufacturer and even ranks 4th in polypropylene manufacturing. It has 4th rank in Global 500 list of biggest chemical company in the world. SABIC was founded in 1941 and its headquarters is in Riyadh, Saudi Arabia.
Sinopec or China Petroleum 7 Chemical Corporation is an oil and gas company. It produces, refines, explores, markets and sells petrochemicals, chemical fertilizers, chemical fibers and various other products of a chemical. It also stores and pipelines transportation of crude oil and natural gas; exports, imports business of crude oil, refined oil products, natural gas, petrochemicals and also other chemical products. Its parent company is Sinopec Group which is a state-owned chemical and petroleum Energy Company. Sinopec was founded more than 15 years ago in 2000 in Beijing, China. Its headquarters is in Chaoyang District, Beijing, China.
2. Dow Chemical
Dow Chemical is a multinationa corporation which specialises in chemical industry. It ranks 2nd in chemical production and it is also the 2nd largest chemical manufacturer by revenue. It produces plastics, agricultural products and chemicals. The American company has existence in 160 countries and has 7 primary operating segments which work on wide array of products. It is renowned for being a ‘chemical company for chemical companies’ since it sells most of its products to other chemical companies. It merged with DuPont to form DowDuPont. The chemical company was founded in 1897 by Herbert Henry Dow. Its headquarters is in Midland, Michigan, US and Andrew N. Liveris serves as its Chairman, President and also the CEO.
BASF has ruled the chemical business for nearly a decade (9 years running). It is unquestionably the biggest chemical manufacturer in the world. It has joint ventures and subsidiaries in more than 80 countries and it has many production sites all over the world in Europe, Asia, the Americas, Australia, and Africa. The German company has more than 120,000 employees. Its sales in chemicals are more than $78,500 million. The company was founded on 6th April 1865 1867. Its headquarters is in Ludwigshafen, Germany.
These companies are the biggest petrochemical companies in the world. Even though many don’t even know their names they are still one of the biggest contributors in a wide array of day to day products. Their impact on society and the economy of the nation is staggering.