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Valued at $8.3 billion,BASF’s brand is the most valuable in the chemical industry, according to a report by the consulting firm Brand Finance. The brand’s value has risen 15% in the past year, thanks to BASF’s improved revenue forecast and a reduction in its cost of capital. This is despite the firm’s loss of assets associated with Russia’s war in Ukraine, Brand Finance says. BASF’s brand value was followed by those of Sabic, LG Chem, Dow, and Linde. The leading Japanese chemical brand—the world’s seventh-most valuable—is Asahi Kasei, at $2.3 billion. “As the world looks to a post-COVID future, chemical industry brands, led by BASF, are benefiting from strong demand for their products,” Brand Finance CEO David Haigh says in a statement. The fastest-rising brand is the Chinese firm Rongsheng Petrochemical, whose value increased 43%, to $2.3 billion, moving it into 8th position from 10th a year ago. Brand Finance rated DuPont the strongest, as opposed to most valuable,chemical brand—boosted in the past year by an improved reputation for corporate social responsibility in industries and communities in which it operates.
Now that it is breaking out chemical sales again, Shell rejoins the Global Top 50 this year after a 5-year hiatus. Rongsheng Petrochemical, which makes polyester chemicals, debuts this year. The former DowDuPont agricultural chemical business, Corteva Agriscience, made the cut as well.
Recent years have seen Chinese petrochemical producers, often involved in the polyester supply chain, join the Global Top 50. Hengli Petrochemical is one of those firms. And now Rongsheng Petrochemical is another. The company is one of the largest producers of purified terephthalic acid in the world, with 13 million metric tons of capacity at plants in Dalian, Ningbo, and Hainan, China. It also makes polyester resin and fiber. It is an investor in Zhejiang Petrochemical, a large oil refinery and petrochemical complex that is currently starting up.
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China is building corridors to connect the isolated areas where pandas live and is doing research on breeding, feeding and disease prevention, said Zhuo Rongsheng, head of the administration’s wildlife protection office. He said the government also is experimenting with the release of pandas bred in captivity.
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