The United States "Chemical Engineering and News" announced on July 25 the results of the 2010 annual financial status survey for the top 50 global chemical companies. The results show that the global chemical industry has come out of the recession, and at the same time as the increase in sales, the increase in product profits is surprising.
Although the economic recovery in the United States and Europe is slow and fragile, survey data show that the global chemical industry began a strong recovery from 2009. The 49 companies that provided comparable data achieved total sales of 857 billion U.S. dollars in 2010. Although not as high as 892 billion U.S. dollars in 2008, they were 25.3% higher than in 2009. In addition, among the top 50 chemical companies, sales revenues of Sasol and Meisheng only declined.
What is even more encouraging than the increase in sales revenue is that the profit figures of the top 50 companies have become more and more popular and 2010 has clearly become a good year for chemical manufacturers. The operating profit of 47 companies on the list last year soared by 80.4% year-on-year to reach US$ 93.6 billion. In 2008, when the sales value peaked, the top 50 total profit was only 60 billion US dollars, but in 2010 the overall profit rate has reached 11.4%, second only to the 13.7% in 1995. There are 30 companies whose profits exceed US$1 billion. The profits of Borealis, Arkema, and Showa Denko have even increased by more than 1000% compared with the same period last year.
Among the top 50 chemical companies in the world, petrochemical companies have performed particularly well. Sinopec, Exxon Mobil, Shell, Formosa Plastics, Saab, and LyondellBasell in the top ten have revenues that have grown at least 30% year-on-year in 2010, and net profit has also increased. In addition, the fact that a large number of newly added petrochemical production capacity that the industry’s people have long worried about and released in 2010 has not caused any impact on the global market. In developing countries, especially China, the growth in demand for chemicals has not yet stopped.
The survey also showed that thanks to cheap shale gas resources, the center of the global petrochemical industry has shifted back to the United States. Shell, Dow Chemical, and Chevron Phillips Chemical have announced the construction of a shale gas-based ethylene cracker. . According to Probe Economics LLC, a US chemical business analysis and consulting company, the energy price advantage will lead to an increase in natural gas consumption in the United States. However, the company believes that although the United States first discovered shale gas, there are many countries that also have shale gas resources, and global shale gas development is only a matter of time. The raw material advantage of the United States may be more prominent in five years, but it is still difficult to determine whether this advantage can be maintained for 10 years.
Although the economic recovery in the United States and Europe is slow and fragile, survey data show that the global chemical industry began a strong recovery from 2009. The 49 companies that provided comparable data achieved total sales of 857 billion U.S. dollars in 2010. Although not as high as 892 billion U.S. dollars in 2008, they were 25.3% higher than in 2009. In addition, among the top 50 chemical companies, sales revenues of Sasol and Meisheng only declined.
What is even more encouraging than the increase in sales revenue is that the profit figures of the top 50 companies have become more and more popular and 2010 has clearly become a good year for chemical manufacturers. The operating profit of 47 companies on the list last year soared by 80.4% year-on-year to reach US$ 93.6 billion. In 2008, when the sales value peaked, the top 50 total profit was only 60 billion US dollars, but in 2010 the overall profit rate has reached 11.4%, second only to the 13.7% in 1995. There are 30 companies whose profits exceed US$1 billion. The profits of Borealis, Arkema, and Showa Denko have even increased by more than 1000% compared with the same period last year.
Among the top 50 chemical companies in the world, petrochemical companies have performed particularly well. Sinopec, Exxon Mobil, Shell, Formosa Plastics, Saab, and LyondellBasell in the top ten have revenues that have grown at least 30% year-on-year in 2010, and net profit has also increased. In addition, the fact that a large number of newly added petrochemical production capacity that the industry’s people have long worried about and released in 2010 has not caused any impact on the global market. In developing countries, especially China, the growth in demand for chemicals has not yet stopped.
The survey also showed that thanks to cheap shale gas resources, the center of the global petrochemical industry has shifted back to the United States. Shell, Dow Chemical, and Chevron Phillips Chemical have announced the construction of a shale gas-based ethylene cracker. . According to Probe Economics LLC, a US chemical business analysis and consulting company, the energy price advantage will lead to an increase in natural gas consumption in the United States. However, the company believes that although the United States first discovered shale gas, there are many countries that also have shale gas resources, and global shale gas development is only a matter of time. The raw material advantage of the United States may be more prominent in five years, but it is still difficult to determine whether this advantage can be maintained for 10 years.
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