Chemical and Engineering News (C&EN) has recently published a list of top 50 chemical companies in 2020. COVID-19 has impacted the sales of different chemical companies. While the full list can be found here, we have summarized below the highlights of Top 10 chemical companies in C&EN’s list. Looking at these toppers, it is evident that, except LINDE, all others have a strong hold in plastics business. That’s why some of them appeared in our previous blog post related to the actions taken by different companies in making plastics more sustainable.
- Chemical Sales in 2019 = $66.4 Billion
- Invested $10 Billion to construct its third largest chemical complex in Zhanjiang, China
- Acquistion of Nylon 6,6 business from Solvay in 2019 for $1.4 Billion
- Sale of its organic and inorganic pigments business (with annual sales of ~$1.1 Billion) to DIC, a Japanese chemicals company
- Sale of it construction chemicals business (with annual sales of ~$2.8 Billion) to an affiliate of Lone Star (a global private equity firm)
- Chemical Sales in 2019 = $43.0 Billion
- Invested in the expansion of its ethylene cracker complex at Freeport, Texas
- Invested in installation of propane dehydrogenation technology at Louisiana
- Investing in the chemical recycling of (waste) plastics
- Agreement with Shell for the development of technology to make its ethylene production process Green.
- DowDupont separated last year. Now it is Dow only.
- Separated its agrochemical business as Corteva Agriscience which is a standalone company.
- Electronic and building materials business handed over to DuPont.
- Chemical Sales in 2019 = $34.4 Billion
- $10 Billion investment in partnership with Exxon Mobil to build petrochemical complex in Texas
- Looking forward to increase its stake in Clariant (a Swiss Specialty chemicals producer) from 25% to 31%
- 70% stake of SABIC sold to Saudi ARAMCO for $69 Billion
- Chemical Sales in 2019 = $32 Billion
- Acquiring BP’s purified terephthalic acid and acetyls businesses for $5 Billion
- Investments in building a waste polystyrene recycling plant in Illinois. This plant will be built in cooperation with Agylix.
- Investments in building a plastic pyrolysis plant in cooperation with PlASTIC ENERGY.
6. FORMOSA PLASTICS
- Chemical Sales in 2019 = $31.4 Billion
- Started up 400,000 tonnes/year HDPE and LLDPE plant in 2019.
- Commissioned an ethylene cracker at Point Comfort, Texas.
- Plans to invest in the Sunshine project under which a petrochemical cracker complex will be built in St. James Parish, Louisiana, USA.
- A 400,000 tonnes/year LDPE plant was scheduled to be online this year but now it has been delayed until August, 2020.
7. Exxon Mobil Chemicals
- Chemical Sales in 2019 = $27.4 Billion
- In partnership with SABIC, Exxon Mobil is building a chemical complex in Texas.
- Other investments are also being done in building different olefins related production facilities at different locations in the USA.
- Reducing its capital spending on projects due to COVID-19.
8. MITSUBISHI CHEMICAL
- Chemical Sales in 2019 = $27.4 Billion
- Acquiring Gelest, USA, a silane, silicone and metal-organic compounds manufacturer.
- To strengthen its position in plastics recycling, Mitsubishi has acquired Minger Group.
- Plans to build methyl methacrylate (MMA) plant in the USA.
9. LYONDELLBASELL INDUSTRIES
- Chemical Sales in 2019 = $27.1 Billion
- Investing jointly with Liaoning Bora Enterprise Group in China. Plans to build ethylene cracker, PE and PP plant. This investment is probably going to be of ~$12 Billion
- In cooperation with SINOPEC, LyondellBasell has the plans to build a propylene oxide/styrene plant in Zhenhai, China. This plant should be operational by 2022.
- Building a waste plastic pyrolysis plant in Italy.
- Major projects put on hold due to current COVID 19 situation e.g., temporary halt in the construction of a major propylene oxide/tert-butyl alcohol plant in Texas, USA.
- Chemical Sales in 2019 = $25.4 Billion
- Investing $245 million to build the world’s largest liquid hydrogen fuel (for vehicles) facility in Ulsan, South Korea. This investment will be made together with Hyosung. The plant should be operational by 2022.
- Joint project with BASF to separate Helium from Natural Gas. Evonik’s special membrane technology is being employed in this project.