ICIS Chemical Business magazine has unveiled its annual ICIS Top 100 Chemical Companies listing ranked by 2011 sales.
At the top is Germany's BASF with $95.2bn in sales, followed by a new number two - China's Sinopec with $65.8bn in chemical sales, which edged out US-based ExxonMobil Chemical with $64.7bn in sales.
Currency conversions to US dollars for the ranking were based on year-end 2011 exchange rates.
The top 100 companies had combined sales of $1.4 trillion in 2011, up by 13.4% compared with 2010.
"We are pleased to reveal the top players in the chemical industry. The ICIS Top 100 Chemical Companies reflect the increasing globalisation of the sector with the top three firms representing the three largest geographic markets," said Global Editor Joseph Chang.
"The growth and influence of Asian companies is the story behind changes in the ranking," said Nigel Davis, ICIS insight editor.
"China's largest petrochemical producer, Sinopec, continued to grow strongly in 2011 with its chemical segment sales up by 28.9% in local currency and by 34.9% in US dollars," he added.
Regan Hartnell, analyst in the ICIS consulting & analytics team, reveals additional insights in the 10 September issue of ICIS Chemical Business, including projections on 2012 sales based on the ICIS Petrochemical Index (IPEX), and whether bigger is better based on operating margins.
The 17 September issue of ICIS Chemical Business magazine will unveil the geographic leaders in North America, Latin America, Europe, Asia, and Africa and the Middle East.
The issue of 24 September will reveal the ICIS Company of the Year based on financial metrics.