ICIS presents the Global Top 100 Chemical Companies


ICIS has announced the ICIS Top 100 Chemical Companies, a global listing of the leading producers of chemicals worldwide ranked by 2022 sales.

Germany-based BASF is again the world’s largest chemical company, with sales of $93.7bn in 2022, up 11.1% versus 2021.

Rounding out the Top 5 are China-based Sinopec with $78.2bn in chemical sales, followed by US-based Dow in third with $56.9bn, Saudi Arabia-based SABIC with $52.9bn and UK-based INEOS with $51.9bn.

While most chemical companies generated sales growth in 2022 on higher oil and natural gas feedstock costs, margins were squeezed, particularly in the back half of the year.

“After a robust H1 on tailwinds from the pandemic recovery, by Q3 deteriorating macroeconomic conditions and a shift in consumer spending away from durables led to an unprecedented stretch of destocking continuing well into 2023 with impacts still being felt today,” said Joseph Chang, Global Editor of ICIS Chemical Business.

“2022 will go down as one of the most difficult years for chemical companies since the Global Financial Crisis, as it was overshadowed by war and looming economic recession, although for some, the impact of these seismic events did not materialise until late in the year,” said Nigel Davis, ICIS Insight Editor.

The ICIS Top 100 Chemical Companies includes sales as well as operating profits, net income, total assets, capital expenditures and R&D spending for the world’s top producers.

The ICIS Top 100 Chemical Companies issue of ICIS Chemical Business is available for download here.

Currency conversions to US dollars for the ranking are based on year-end 2022 exchange rates.


ICIS Launches German LNG Pricing Intelligence


ICIS, a global source of Independent Commodity Intelligence Services, announces a new pricing service for German LNG, providing detailed insight for customers from one of the world’s fast-growing markets. ICIS is the first source of energy intelligence to provide dedicated pricing for the German LNG market.

Germany has historically been the most significant European buyer of Russian gas and for many years relied heavily on the nation for over half its supply. However, amidst the current strained political landscape, that share has collapsed, and Germany now has a stated target to step away entirely from Russian gas in 2024.

Last year, the German government identified LNG as a critical supply source to replace Russian gas and Berlin has financially supported an accelerated programme for up to 10 LNG import terminals to be developed. Three LNG terminals have already started operations in the first weeks of 2023, connecting Germany more directly than ever to the global LNG market and creating an even greater need for trusted energy intelligence and price transparency.

“At ICIS, we bring a proven methodology and pricing expertise to provide daily German LNG spot price assessments in line with all our global LNG assessments,” Ed Cox, ICIS Global LNG Editor, says. “This provides experienced LNG companies and new entrants with trusted pricing to support business decisions on both the sell and buy side. This price transparency reduces the risk of exposure to prices that do not directly reflect the fair value of the German market, which could lead to greater financial risk.”

The rapid growth of German LNG imports will influence spot LNG pricing and market sentiment across Northwest Europe. As a result, traders, analysts, and risk managers must understand the specific drivers of the German spot LNG price as distinct from other markets.

In addition to mainstream gas and LNG companies, regional European gas and downstream German chemical companies are looking to develop a position in LNG as they face increasing exposure to German LNG imports. Understanding how German LNG imports are priced and how this compares with regional gas hub pricing is increasingly important.

“Taken alongside other ICIS German LNG content – daily pricing intelligence, news, real-time alerts, vessel tracking, and demand forecasting – it provides users with a complete overview of the fast-growing German market at a granular level that is unmatched by other providers,” Ed Cox concludes.


ICIS launches European EVA price assessment


The ethylene vinyl acetate (EVA) market is experiencing volatility with prices at record highs, coupled with tight supply caused by global outages. The need for context and clarity of market conditions has never been more important, to enable businesses to make better informed investment and planning decisions.

ICIS, a global leader in independent commodity intelligence services for plastics and polymers, now provides a European EVA price assessment, along with deeper coverage in Asia-Pacific. Weekly pricing analysis, assessments, insight, supply and demand drivers, a short-term outlook, as well as intelligence on upstream markets, provide a comprehensive and transparent market perspective

Redwan Hoque, Head of Commercial Strategy – Chemicals, at ICIS said: “The experience ICIS provides, along with our market relationships and  proven methodology, means the EVA price assessment service provides a  comprehensive and trusted understanding of the factors that impact this volatile market. Insights enable smart production and selling decisions and facilitate effective risk management with evaluation of the impact of new capacities or plant disruptions.”

The launch of global EVA coverage, together with ICIS’ three global benchmarks that influence EVA prices: polyethylene (PE), acetic acid, and vinyl acetate monomer, will provide the industry with unprecedented transparency and a deeper understanding of the key drivers across the entire PE sector.

Alongside the release of a European EVA price assessment, ICIS Asia coverage now includes three additional domestic China grades, based on VA content. US pricing coverage will follow shortly, making this the first global EVA pricing assessment service.


ICIS Meets IOSCO’S PRA Principles for the Ninth Consecutive Year


ICIS, a global source of commodity intelligence, today announced that the independent assurance review of its price reporting business has been successfully completed for the ninth successive year.

The Price Reporting Agency (PRA) principles are set out by the International Organization of Securities Commissions (IOSCO) to ensure that commodity benchmark price reporting meets the highest standards.

“The COVID-19 pandemic has created an unprecedented level of volatility in many commodity markets. This has made it more important than ever that ICIS benchmarks are produced with the transparency of methodology and consistent credibility and impartiality required by the IOSCO’s PRA principles,” said Stephen Burns, Editorial Director at ICIS.

“Meeting these standards justifies the confidence that the markets have in the integrity and credibility of the information we provide ensuring fairness and transparency. ICIS is committed to maintaining the highest standards in the quality and independence of our market intelligence enabling customers to make thousands of decisions every week, decisions that shape our world,” Burns said.

The IOSCO principles support the ICIS purpose: to connect data and customers to make some of the world’s most important markets more trusted and predictable.

The areas assured by BDO LLP include governance structures, controls, maintenance of Editorial integrity, and conflict management processes in relation to the creation of commodity benchmark price assessments.

This external audit continues to comply with the requirements of the Benchmarks Regulation (BMR) for commodity benchmarks (paragraph 18 of Annex II) as outlined by European Securities and Markets Authority (ESMA).

A full report detailing how ICIS has met and satisfied the IOSCO PRA Principles can be found here.

This report is accompanied by BDO’s findings following an independent review of ICIS processes and policies to provide Reasonable and Limited Assurance conclusions.


ICIS Natural Gas Benchmarks now available on the Bloomberg Terminal


ICIS, a global source of Independent Commodity Intelligence Services, has announced that the ICIS European Gas benchmarks data is now available on the Bloomberg Terminal to mutual clients.

The independent benchmarks, price assessments and indices published by ICIS are traded across the European gas market and its Dutch TTF and British NBP benchmark price assessments are referenced globally.

ICIS provides unparalleled pricing and analysis across a range of continental European gas markets including Germany (NCG/Gaspool), Italy (PSV), France (PEG), Belgium (Zeebrugge/ZTP), Austria (VTP), Spain (PVB), Czech RepublicSlovakiaHungary and Turkey.

The impact of the COVID-19 pandemic, plus an increasingly connected and commoditised worldwide natural gas market mean that now more than ever, there is a need for those operating in gas markets to reliably access trusted pricing information and market analysis. Subscribers of the Bloomberg Terminal trading natural gas and LNG will now have seamless access to all ICIS European Gas benchmark pricing, which better enables them to understand the impact of European gas prices on markets and how price movements can deeply influence the outcomes of trading and strategic decision-making.

This exciting new access to ICIS data promises traders, analysts, investors, and portfolio managers improved access to more comprehensive market information from within their existing workflows, enabling them to make quicker, more informed decisions, realise new opportunities, and better manage risk. ICIS pricing data will be accessible on the Bloomberg Terminal within the commodity product catalogue, COMM , which allows users to discover ICIS forward curves and the commodity spot price discoverability tool, SPOT , for price assessments. Users can also find more information by visiting the ICIS homepage on the Bloomberg Terminal by visiting ICSE . In addition, mutual clients of ICIS and Bloomberg can take advantage integrating the content into their existing workflows.

Lucy King, Global Business Director for Partnerships at ICIS, said, “As gas markets continue to mature and globalise, European natural gas prices are increasingly impacting markets globally and the need for accurate and timely pricing information continues to grow. At ICIS our aim is to bring transparency and independence to the market, and ensure vital data and analysis are delivered where and when our customers need it. We’re delighted that, together with Bloomberg, we are able to give Bloomberg users access to our benchmark natural gas pricing and provide the energy industry with the actionable insight it needs.”

“The recent market volatility has had an unprecedented impact on economies and presented great challenges for financial professionals. These challenges make access to high quality data even more vital,” said Emilie Gallagher, Global Head of Commodities and FX Core Products at Bloomberg. “The ICIS Dutch TTF and British NBP gas assessments are referenced throughout the world and represent an industry reference point for trading in the European gas market. Our work to bring ICIS data to Bloomberg clients will further increase the intelligence available to them as they react to market changes and monitor the pricing dynamics between physical and financially traded commodities.”