Germany’s BASF topped ICIS’s 2025 ranking of the world’s 100 largest chemical companies with $70 billion in sales, followed by China’s Sinopec ($66.3 billion), ExxonMobil ($53.4 billion), PetroChina ($42.1 billion), and Dow ($40 billion). Chinese companies accounted for four of the top 10 positions, reflecting China’s expanding production capacity and the industry’s shifting center of gravity toward Asia.
However, the sector faced significant financial pressure in 2025, with combined operating profit among the 100 companies declining by approximately 47% and net income falling by more than 80%. Weak demand, excess capacity, and intensifying competition, particularly in China, have put pressure on prices and profit margins.
For Iran, the ranking highlights the need to move beyond capacity expansion toward value creation. The absence of Persian Gulf Petrochemical Industries Holding (PGPIC) from the latest list also warrants attention, although it does not necessarily indicate a decline in its competitive position.
Developing higher-value-added and specialty products, improving operational efficiency, reducing energy consumption and production costs, adopting advanced technologies and artificial intelligence, managing carbon emissions, and diversifying export markets will be crucial to strengthening Iran’s global competitiveness.
The key message is that future success in the petrochemical industry will depend not simply on production capacity, but on how efficiently companies use feedstock, energy, and capital to generate greater value.