BASF Reclaims Top Spot in ICIS Global Chemical Rankings
German giant BASF has surged back to the number one position in the latest ICIS Top 100 Chemical Companies ranking, reporting $70 billion in 2025 sales. The industry shift comes as major producers navigate a period of severe profitability contraction, with total operating profits across the top tier plummeting by nearly half.
Sinopec follows in second place with $66.3 billion, while ExxonMobil, PetroChina, and Dow round out the top five. The 2025 fiscal year proved difficult for the sector; net profits for the group cratered by 81.9%, driven by a combination of weak demand in the automotive and housing markets and a persistent overcapacity issue in China.
Joseph Chang, global editor of ICIS Chemical Business, identifies 2025 as the likely bottom of the earnings cycle. He points to supply shortages resulting from Middle East instability as a potential catalyst for meaningful margin recovery in 2026. Despite the current downturn, Chinese expansion remains aggressive, with China-based firms now accounting for four of the top ten global spots, compared to three from the United States and two from Europe.
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