The chemical industry is a cornerstone of global manufacturing, supplying essential raw materials for sectors such as agriculture, pharmaceuticals, construction, and consumer goods. From advanced polymers to specialty chemicals, this market drives innovation and efficiency across various industries.
The Chemical market is expanding due to increasing industrialization, technological advancements, and the rising demand for sustainable and high-performance materials. Companies are focusing on bio-based chemicals, green manufacturing, and circular economy initiatives to reduce environmental impact and enhance efficiency.
Breakthroughs in nanotechnology, specialty chemicals, and digital transformation are reshaping the industry. As businesses and governments push for sustainability and innovation, the market is set to experience significant growth in the coming years. According to Kings Research, the global chemical market is projected to grow from USD 5995.43 billion in 2024 to USD 7359.73 billion by 2031.
Top 10 Companies leading the Chemical Market:
1. BASF
BASF combines economic success with social responsibility. Their portfolio ranges from chemicals, plastics, products for protecting crops to oil and gas. Their main businesses cater to segments like materials, industrial solutions, and nutrition and care.
In January 2025, BASF’S personal care business launched VitaGuard A, for capturing the constant demand for retinol in the market. Retinol is an anti-aging molecule used in cosmetic applications. This innovation also highlights how BASF's Personal Care business is tackling future challenges. By focusing on sustainability, innovation, and collaboration, BASF is shaping the future of personal care through its Care 360 initiative.
2. DuPont
DuPont is one of the leading companies in innovative solutions and materials. It has a strong presence in industries such as transportation, electronics, and construction. They offer products ranging from brands like Kevlar, Teflon, and Tyvek. DuPont has made its mark due to the pioneering technologies that have helped in transforming industries.
In February 2024, DuPont introduced the DuPont™ AmberLite™ EV2X resin, a glycol-purification solution designed for e-mobility applications. This resin is crucial for purifying glycol coolants, thereby extending the lifespan of the coolant, its associated components, and the ion exchange filter. By offering thermal stability, it reduces the maintenance requirements for electric vehicle coolants compared to conventional ion exchange resins.
3. CNPC
China National Petroleum Corporation (CNPC) is an international energy company. China National Petroleum Corporation is an oil and gas producer and supplier in China. CNPC's diverse business portfolio includes oil, gas, new energies, refining, chemicals, marketing, new materials, support services, and capital management. Their range of activities positions CNPC as one of the leading player’s in the global energy sector.
4. LG Chem
LG Chem is a leading global science company committed to connecting science with life for a better future, keeping its focus on sustainability. The company's main products and services include petrochemicals, advanced materials, and life sciences, positioning it as a key player in the chemical market. These innovations enhance product quality and performance, giving LG Chem a competitive edge in the market.
In March 2025, LG Chem unveiled the LG Precursor Free (LPF) cathode materials at Interbattery 2025. These materials are produced by calcining custom-designed metals, bypassing the traditional precursor step. This method improves battery performance at low temperatures and speeds up development, offering enhanced efficiency and sustainability.
5. Sumitomo Chemical Co., Ltd.
Sumitomo Chemical is a leading Japanese chemical company. It operates across sectors like agriculture, ICT, healthcare, and materials, with their product range serving various industries. The company has a global presence and is committed to innovation and sustainability, enriching lives through technology while benefiting society.
In March 2025, Sumitomo Chemical initiated the commercial sale of polymethyl methacrylate (PMMA) derived from chemically recycled methyl methacrylate (MMA) monomers. The company has secured third-party certifications, such as ISCC PLUS, to ensure transparency and traceability in its supply chain. This approach enables Sumitomo Chemical to integrate sustainable materials into its products while promoting global recycling systems.
6. LyondellBasell Industries Holdings B.V
LyondellBasell is one of the top companies dedicated to creating solutions that support sustainable living. By leveraging advanced technology and strategic investments, the company is well-positioned in the chemical market. LyondellBasell develops, manufactures, and markets products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare.
In October 2025, LyondellBasell announced its ownership of APK AG. LyondellBasell aims to develop its solvent-based technology for low-density polyethylene (LDPE). The company plans to build commercial plants utilizing this technology, which will enable the production of new materials. These high-purity materials can be used in applications such as flexible packaging for personal care products, meeting customer and brand owner demands.
7. Formosa Plastics Corporation U.S.A.
Formosa Plastics Corporation U.S.A. is a supplier of resins and petrochemicals, operating across business segments such as Olefins, Polyolefins, Vinyl, Specialty Polyvinyl Chloride, and Chlor-Alkali. The company provides a range of products like PVC, polyethylene, polypropylene resins, caustic soda, and petrochemicals, known for their consistency, performance, and quality. Formosa Plastics stands out in the chemical market due to its vertical integration, allowing it to maintain control over multiple production stages and ensure uniform quality across its offerings.
8. INEOS
INEOS is a global manufacturer of petrochemicals, speciality chemicals and oil products, operating as a key player in the chemical market. They work with a mix of commitment to core values and a passion for adventure. The company is making an impact across a vast range of elite sports. INEOS uses its global presence and partnerships to improve supply chain reliability and customer service.
9. SABIC
SABIC is a leading manufacturer of petrochemicals, chemicals, industrial polymers, fertilizers, and metals. The company operates through several strategic business units, including Petrochemicals, Specialties, Agri-Nutrients, and Metals. SABIC produces a wide range of products such as polymers, specialty plastics, fertilizers, and metal products. It serves various industries including automotive, agriculture, construction, and healthcare. SABIC is committed to sustainability and innovation in the chemical sector.
10. Mitsubishi Chemical Group Corporation
Mitsubishi Chemical Group is a global chemical company operating in various sectors, including Specialty Materials, Industrial Gases, Health Care, MMA, and Basic Materials, positioning itself as a one of the prominent player’s in the chemical market. It focuses on innovation and sustainability, with a vision to achieve "KAITEKI," which represents the sustainable well-being of people and the planet. The company is known for its variety of products and commitment to addressing global challenges through business activities.
Concluding Thoughts
The global chemical market is propelled by innovation and sustainability, with leading companies like BASF, DuPont, and SABIC at the forefront. These industry leaders are transforming sectors through advanced technologies and eco-friendly practices, shaping the future with their commitment to sustainable solutions and technological advancements. Their focus on sustainability highly contributes to global environmental goals. By driving innovation, these companies ensure continuous growth and relevance in an evolving industry landscape.
