A global petrochemical shift
By 
Phillip Broadwith2025-09-30T10:57:00
China’s rapid capacity expansion fuels global oversupply, leading plant closures in Europe and elsewhere
The global petrochemicals landscape is undergoing a massive shift. According to a ranking of the top 100 chemicals firms by ICIS, China’s majority state-owned Sinopec has supplanted BASF at the top of the list, with three other Chinese firms in the top 10. That will come as no surprise to anyone with half an eye on this sector, since China has been supporting domestic firms to aggressively build new integrated petrochemicals plants to turn the country from a net importer of petrochemicals to an exporter.