MarketLineIC UnitedStatesChemicals 180722

MarketLine Industry Profile
Chemicals in the United States

June 2021
Reference Code: 0072-2021
Publication Date: June 2021
Primary NAICS: 3251
Secondary NAICS: 325180,325199
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Industry Profiles
1. Executive Summary
1.1. Market value

The United States chemicals market shrank by 3.4% in 2020 to reach a value of $613.2 billion.
1.2. Market value forecast

In 2025, the United States chemicals market is forecast to have a value of $676.5 billion, an increase of
10.3% since 2020.
1.3. Category segmentation

Commodity chemicals is the largest segment of the chemicals market in the United States, accounting for
46.2% of the market's total value.
1.4. Geography segmentation

The United States accounts for 13.9% of the global chemicals market value.
1.5. Market rivalry

The degree of rivalry in the US chemicals market is strong. Large multinational companies dominate the
market and although there is little threat from new entrants, mergers between Dow and DuPont and trade
tensions with China have created an increasingly competitive environment. Due to the technical nature of
the manufacturing process of chemicals, fixed costs are high, which makes it difficult to exit the chemicals
market and contributes to the level of rivalry.
1.6. Competitive Landscape

The US chemicals market is highly competitive, with a number of multi-billion dollar corporations
dominating chemical production. Shale gas discoveries over the past decade have created a strong
foundation for the chemical market's investment, which has encouraged a number of companies to divest
in international operations to focus on the production of chemicals derived from shale gas in the US. Since
2010, the US chemicals market has received over $200bn of investment in shale gas extraction and
chemical production plants. Investment has intensified competition with chemical companies battling for
the largest share of production volumes in order to secure market share available through growing
chemical demand in the US. In addition, the implementation of trade tariffs between the US and China has
slowed trade. Industrial output has suffered as a result of slower trade, which resulted in a drop in demand
for chemical products. This has caused more intense competition in the US.

Industry Profiles

Industry Profiles
TABLE OF CONTENTS
1. Executive Summary 2
1.1. Market value ................................................................................................................................................2
1.2. Market value forecast ..................................................................................................................................2
1.3. Category segmentation................................................................................................................................2
1.4. Geography segmentation.............................................................................................................................2
1.5. Market rivalry...............................................................................................................................................2
1.6. Competitive Landscape ................................................................................................................................2
2. Market Overview 8
2.1. Market definition .........................................................................................................................................8
2.2. Market analysis ............................................................................................................................................8
3. Market Data 10
3.1. Market value ..............................................................................................................................................10
4. Market Segmentation 11
4.1. Category segmentation..............................................................................................................................11
4.2. Geography segmentation...........................................................................................................................12
5. Market Outlook 13
5.1. Market value forecast ................................................................................................................................13
6. Five Forces Analysis 14
6.1. Summary ....................................................................................................................................................14
6.2. Buyer power...............................................................................................................................................15
6.3. Supplier power ...........................................................................................................................................17
6.4. New entrants .............................................................................................................................................19
6.5. Threat of substitutes ..................................................................................................................................21
6.6. Degree of rivalry.........................................................................................................................................22
7. Competitive Landscape 24
7.1. Who are the leading players? ....................................................................................................................24

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7.2. What have been the most significant mergers and acquisitions over the last year? ................................24
7.3. What strategies do the leading players follow?.........................................................................................25
7.4. What impact is the COVID-19 pandemic having on market players? ........................................................26
8. Company Profiles 27
8.1. BASF SE.......................................................................................................................................................27
8.2. Exxon Mobil Corporation ...........................................................................................................................31
8.3. DuPont de Nemours Inc .............................................................................................................................36
8.4. LyondellBasell Industries N.V. ....................................................................................................................39
9. Macroeconomic Indicators 43
9.1. Country data ..............................................................................................................................................43
Appendix 45
Methodology ...........................................................................................................................................................45
9.2. Industry associations..................................................................................................................................46
9.3. Related MarketLine research .....................................................................................................................46
About MarketLine....................................................................................................................................................47

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LIST OF TABLES
Table 1: United States chemicals market value: $ billion, 2016–20 10
Table 2: United States chemicals market category segmentation: $ billion, 2020 11
Table 3: United States chemicals market geography segmentation: $ billion, 2020 12
Table 4: United States chemicals market value forecast: $ billion, 2020–25 13
Table 5: BASF SE: key facts 27
Table 6: BASF SE: Annual Financial Ratios 29
Table 7: BASF SE: Key Employees 30
Table 8: Exxon Mobil Corporation: key facts 31
Table 9: Exxon Mobil Corporation: Annual Financial Ratios 33
Table 10: Exxon Mobil Corporation: Key Employees 34
Table 11: Exxon Mobil Corporation: Key Employees Continued 35
Table 12: DuPont de Nemours Inc: key facts 36
Table 13: DuPont de Nemours Inc: Annual Financial Ratios 37
Table 14: DuPont de Nemours Inc: Key Employees 38
Table 15: LyondellBasell Industries N.V.: key facts 39
Table 16: LyondellBasell Industries N.V.: Annual Financial Ratios 41
Table 17: LyondellBasell Industries N.V.: Key Employees 42
Table 18: United States size of population (million), 2016–20 43
Table 19: United States gdp (constant 2005 prices, $ billion), 2016–20 43
Table 20: United States gdp (current prices, $ billion), 2016–20 43
Table 21: United States inflation, 2016–20 43
Table 22: United States consumer price index (absolute), 2016–20 44
Table 23: United States exchange rate, 2016–20 44

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LIST OF FIGURES
Figure 1: United States chemicals market value: $ billion, 2016–20 10
Figure 2: United States chemicals market category segmentation: % share, by value, 2020 11
Figure 3: United States chemicals market geography segmentation: % share, by value, 2020 12
Figure 4: United States chemicals market value forecast: $ billion, 2020–25 13
Figure 5: Forces driving competition in the chemicals market in the United States, 2020 14
Figure 6: Drivers of buyer power in the chemicals market in the United States, 2020 15
Figure 7: Drivers of supplier power in the chemicals market in the United States, 2020 17
Figure 8: Factors influencing the likelihood of new entrants in the chemicals market in the United States, 2020 19
Figure 9: Factors influencing the threat of substitutes in the chemicals market in the United States, 2020 21
Figure 10: Drivers of degree of rivalry in the chemicals market in the United States, 2020 22

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2. Market Overview
2.1. Market definition

The chemicals market consists of speciality chemicals, commodity chemicals, agricultural chemicals, and other
chemicals (which include products such as pharmaceutical chemicals).
Market values are taken at producer selling price (PSP).All market data and forecasts are represented in nominal
terms (i.e. without adjustment for inflation) and all currency conversions used in the creation of this report have
been calculated using constant 2020 annual average exchange rates. Forecast figures presented in this report are
calculated using crisis scenarios for the market. The length of the pandemic and restrictions introduced by various
countries are still difficult to predict, though many governments had introduced national lockdowns and
temporarily banned the sale of non-essential products at the expense of those industries. The length of the
pandemic and restrictions imposed by governments around the world is not certain, therefore the impact on this
market is difficult to predict. The data used in this report has been modelled on the assumption of a crisis scenario
and has taken into consideration forecast impacts on national economies.
For the purposes of this report, the global market consists of North America, South America, Europe, Asia-Pacific,
Middle East, South Africa and Nigeria.
North America consists of Canada, Mexico, and the United States.
South America comprises Argentina, Brazil, Chile, Colombia, and Peru.
Europe comprises Austria, Belgium, the Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy,
Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom.
Scandinavia comprises Denmark, Finland, Norway, and Sweden.
Asia-Pacific comprises Australia, China, Hong Kong, India, Indonesia, Kazakhstan, Japan, Malaysia, New Zealand,
Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam.
Middle East comprises Egypt, Israel, Saudi Arabia, and United Arab Emirates.
2.2. Market analysis

The US chemicals market experienced very weak growth overall during the historic period, the strongest rate of
growth (4%) was achieved in 2018 and it entered a decline in 2020. The market is expected to recover and achieve
moderate growth in 2021, weak growth rates are expected over the remainder of the forecast period.
The chemicals market is a vital component of the US economy, accounting for approximately 10% of exports and
supporting over 25% of the nation’s GDP. The country’s shale gas revolution has fueled the majority of the nation’s
chemicals market, providing the US with a low-cost feedstock to rival its main competitors in China and the Middle
East. The US is a major market globally, accounting for 13.9% of its total value in 2020.
The US chemicals market had total revenues of $613.2bn in 2020, representing a compound annual growth rate
(CAGR) of 0.6% between 2016 and 2020. In comparison, the European and Asia-Pacific markets grew with CAGRs
of 1% and 3.2% respectively, over the same period, to reach respective values of $789.9bn and $2,706.0bn in
2020.
A steep decline in 2015 was largely a result of the collapse in oil prices resulting in lower sale prices of related
chemicals, of which the effects lasted throughout 2016. A recovery in oil prices the following two years helped the
market achieve growth. The price of Brent crude oil, the international benchmark, averaged $64 per barrel in

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2019, $7 lower per barrel than its 2018 average, which contributed to the markets deceleration that year. As the
commodity chemicals segment dominates the US market, price fluctuations have a notable impact on the market’s
performance.
US shale gas discoveries in 2010–2015 have caused investment in petrochemicals to increase prolifically in recent
years. $204bn of announced US chemicals market investment has been allocated to the development of 336 new
chemical projects.
The US chemicals market declined by 3.4% in 2020, partially caused by the COVID-19 pandemic, which ground
much economic activity to a halt. Due to this, the demand for chemicals experienced severe shocks, supply chains
were heavily disrupted and chemical company stocks took major hits. All these factors had a negative impact on
the chemicals market in 2020. There was a notable decline in demand for chemical products related to the
automotive and construction industries. However, the pandemic did create new opportunities for biocidal paints,
coatings and surfaces, which offset the decline somewhat.
The commodity chemicals segment was the market's most lucrative in 2020, with total revenues of $283.4bn,
equivalent to 46.2% of the market's overall value. The specialty chemicals segment contributed revenues of
$211.5bn in 2020, equating to 34.5% of the market's aggregate value.
Commodity chemicals dominate the US market, followed by specialty chemicals. The prevalence of commodity
chemical production is common across the globe as they are typically low-cost and low-skill to produce; however,
increasing technology and chemical expertise fueled by increasing investment has resulted in the sustained growth
of specialty chemicals. In the future, specialty chemicals are likely to pull even with commodity chemicals, and
possibly become the largest sector, as investment in expertise increases.
The US has a large pharmaceuticals industry and is a major producer of pharmaceuticals, with large global industry
leaders such as Pfizer, Merck & Co, and Johnson & Johnson driving production of pharma-based chemicals.
However, the share of chemicals for pharmaceuticals is still relatively small within the other chemicals segment,
representing less than 10% of the US market’s total value in 2020.
The performance of the market is forecast to accelerate, with an anticipated CAGR of 2% for the five-year period
2020 - 2025, which is expected to drive the market to a value of $676.5bn by the end of 2025. Comparatively, the
European and Asia-Pacific markets will grow with CAGRs of 2.7% and 6.1% respectively, over the same period, to
reach respective values of $902.1bn and $3,630.0bn in 2025.
Beyond 2020, the market’s growth is expected to be driven by a rebound in demand, particularly regarding
chemicals utilized in pharmaceuticals, food additives and disinfectants, all of which have experienced growth due
to the pandemic. Some of the key trends which are expected to impact the market in the coming years are
sustainability, digitalization and a focus on health and safety. Market players that adapt to these trends are most
likely to benefit from increasing demand and drive growth over the forecast period.
The new USMCA trade agreement between the North American nations will aid the market’s growth in the long-
term, allowing the country to create a North American model for chemical regulation while leveraging the highly
integrated North American supply chain to reduce costs. Abundant shale gas reserves in the US will drive growth in
the North American chemicals market. Shale gas based chemical exports are projected to reach $123bn by 2030,
more than double the total in 2014.

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3. Market Data
3.1. Market value

The United States chemicals market shrank by 3.4% in 2020 to reach a value of $613.2 billion.
The compound annual growth rate of the market in the period 2016–20 was 0.6%.
Table 1: United States chemicals market value: $ billion, 2016–20
Year $ billion € billion % Growth

2016 598.8 525.0
2017 604.6 530.1 1.0%
2018 628.7 551.3 4.0%
2019 635.2 556.9 1.0%
2020 613.2 537.7 (3.4%)
CAGR: 2016–20 0.6%

SOURCE: MARKETLINE MARKETLINE
Figure 1: United States chemicals market value: $ billion, 2016–20

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4. Market Segmentation
4.1. Category segmentation

Commodity chemicals is the largest segment of the chemicals market in the United States, accounting for 46.2% of
the market's total value.
The Specialty chemicals segment accounts for a further 34.5% of the market.
Table 2: United States chemicals market category segmentation: $ billion, 2020
Category 2020 %
Commodity Chemicals 283.4 46.2%
Specialty Chemicals 211.5 34.5%
Agriculture Chemicals 61.2 10.0%
Other 57.2 9.3%
Total 613.3 100%

Figure 2: United States chemicals market category segmentation: % share, by value, 2020

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4.2. Geography segmentation

The United States accounts for 13.9% of the global chemicals market value.
Asia-pacific accounts for a further 61.5% of the global market.
Table 3: United States chemicals market geography segmentation: $ billion, 2020
Geography 2020 %
Asia-pacific 2,704.5 61.5
Europe 789.9 18.0
United States 613.2 13.9
Rest Of The World 289.8 6.6
Total 4,397.4 100%

Figure 3: United States chemicals market geography segmentation: % share, by value, 2020

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5. Market Outlook
5.1. Market value forecast

In 2025, the United States chemicals market is forecast to have a value of $676.5 billion, an increase of 10.3% since
2020.
The compound annual growth rate of the market in the period 2020–25 is predicted to be 2%.
Table 4: United States chemicals market value forecast: $ billion, 2020–25
Year $ billion € billion % Growth

2020 613.2 537.7 (3.4%)
2021 634.6 556.4 3.5%
2022 648.0 568.2 2.1%
2023 656.2 575.3 1.3%
2024 666.0 584.0 1.5%
2025 676.5 593.2 1.6%
CAGR: 2020–25 2.0%

Figure 4: United States chemicals market value forecast: $ billion, 2020–25

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6. Five Forces Analysis

The chemicals market will be analyzed taking chemical manufacturers as players. The key buyers will be taken as
manufacturers of products requiring chemicals such as plastic products and pharmaceutical companies, and oil,
gas and utility companies as the key suppliers.
6.1. Summary
Figure 5: Forces driving competition in the chemicals market in the United States, 2020
The degree of rivalry in the US chemicals market is strong. Large multinational companies dominate the market and
although there is little threat from new entrants, mergers between Dow and DuPont and trade tensions with China
have created an increasingly competitive environment. Due to the technical nature of the manufacturing process of
chemicals, fixed costs are high, which makes it difficult to exit the chemicals market and contributes to the level of
rivalry.
There are a vast number of buyers in this market due to the fact that chemicals have a wide variety of functions and
come in many different forms. For example, chemicals are used to manufacture fertilizers, detergent, and toothpaste as
well as numerous industrial processes. Buyers include manufacturers of plastic products, consumer chemical
manufacturers, and water utility companies, among many others. They tend to be medium to large sized businesses,
with relatively strong negotiating positions and reasonable financial muscle relative to market players, thus
strengthening buyer power. However, this is offset by the large number of different buyers of chemicals that have a
wide range of uses.
Suppliers to this market include oil, gas and mining companies, which generally tend to be large-scale multinational
corporations. Given the large size of these companies and the price fluctuations associated with natural resources like
oil and gas, this provides suppliers with a great deal of power.
New entrants to the chemical market may be deterred by exceptionally high start-up costs and strict government
regulations. However, low product differentiation helps to attract new entrants to this market.
There are very few substitutes for chemicals as they are a fundamental raw material to a wide variety of downstream
businesses.

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6.2. Buyer power
Figure 6: Drivers of buyer power in the chemicals market in the United States, 2020
The US chemicals market has a large number of buyers as a result of chemical products being used for a variety of
different functions in multiple industries. For example, chemicals are used to manufacture fertilizers, detergent, and
toothpaste as well as numerous industrial processes. Buyers include manufacturers of plastic products, consumer
chemical manufacturers, and water utility companies, among many others.
The majority of buyers are large to medium sized businesses and tend to have relatively strong negotiating positions
and reasonable financial muscle. However, this is offset by the large number of different buyers of chemicals that have
a wide range of uses. For example, ethanol is a commodity chemical that can be used in the manufacture of alcoholic
drinks, as a widely used solvent for paint and varnish, in the manufacture of ethanol acid, as a fuel, as the fluid in
thermometers, and in preserving biological specimens. This reduces a chemical manufacturing company's dependence
on a single buyer or even an entire industry, therefore minimizing a buyer's power of negotiation.
The diversity of downstream markets for various chemical products reduces buyer power. A large proportion of
chemicals are commoditized and this lack of differentiation serves to increase buyer power as market players are
forced to compete on price to encourage buyers to purchase their products. The limited differentiation market players
are able to achieve through chemical composition, purity, and branding tends to be negligible in regards to buyer
power.
The large size of the market players in comparison to buyers serves to reduce buyer power to an extent. For example,
ExxonMobil is not only a leading chemical manufacturer in the US, it is also one of the largest oil and gas companies
globally. The sheer size and scale of this company means that it has a large number of buyers, as such the impact of the
loss of one buyer is likely to be minimal. Alternatively smaller chemical manufacturers can also exist, producing
specialized or niche chemical products – in this case buyer power is elevated with large multi-billion corporations such
as US pharmaceutical company Pfizer wielding significant power.
Buyer power can vary depending on the importance of a chemical product to the industry; however, in most cases,
chemicals are vital for successful operation and industrial output. For example fertilizers are vital for achieving large
yields of crops to optimize production volumes and maximize profits; however, crops are able to grow without the use
of fertilizers and so chemicals are less essential in the agricultural industry as they are in the pharmaceutical sector
where chemical products are essential components for manufacturing pharmaceuticals. Ultimately chemicals act as a
catalyst for most industries and help accelerate growth and ensure companies remain competitive. Therefore buyer
power is generally lowered.

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Some industries are more important than others to chemical companies and therefore wield more buyer power. FMCG
companies are lucrative consumers of chemicals. Chemical producers are subject to pressure from consumer goods
manufacturers to create substances which meet ever changing regulations but which do not alter the end product in
any meaningful way. FMCG manufacturers are valuable customers of chemical companies due to the long-term nature
of the relationships between the chemical supplier and consumer goods manufacturer. This increases the buyer power
of such companies.
Switching costs have an impact on buyer power, and include costs incurred while waiting for the end of a contractual
period while better deals are being offered by other players. It may be possible to break a contract early, but this would
likely incur a charge and contribute to a decline in buyer power. The use of contracts can stifle a buyer’s tendency to
switch.
Buyers are not likely to integrate backwards into the chemical market due to the exceptionally high overheads and
startup costs associated with chemical manufacturing, as well as strict government regulations. However, for some of
the largest buyers in this market backwards integration is possible. For example, Procter & Gamble produces certain
chemicals that it requires in its manufacturing process. Chemicals are highly important to buyers, with few, if any, raw
material substitutes available for their manufacturing processes, reducing buyer power.
Overall, buyer power is moderate.

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6.3. Supplier power
Figure 7: Drivers of supplier power in the chemicals market in the United States, 2020
The chemical manufacturing process involves the conversion of raw materials including oil, natural gas, air, water,
metals and minerals into a compound which produces one in over 84,000 possible chemical products listed by the U.S.
Environmental Protection Agency (EPA). The raw materials used during the production process can be divided into
three distinct categories: metals, non-metals and petrochemicals. The first segment mainly contains platinum. Platinum
is used in the manufacture of nitric acid, which in turn is used to make ammonia before being made into fertilizer. The
metal is also commonly used in the production of plastics, synthetic fibers, drugs and pharmaceuticals, as well as many
everyday products purchased from leading retailers. The exploration and production costs for raw materials can be
significant and therefore players rely on established mining companies such as Anglo American Platinum – a mining
company responsible for 38% of the world's platinum supply. Unlike gold, no large reserves of platinum exist and
estimations state the amount of recoverable material is only a fraction of estimated gold reserves. As a result
companies such as Anglo American Platinum wield significant power over chemical companies as there are few
alternative options for platinum supplies.
The majority of the raw materials utilized in the chemicals market are derived from oil and natural gas. Oil and gas are
also required for chemical production due to the energy intensive nature of production. Many chemical reactions
needed to produce useful chemical substances require high temperatures to work and deliver the correct degree of
purity. The US is the number one producer and consumer of natural gas. Such suppliers are large, diversified
international companies. Examples include Chevron Corporation, ConocoPhillips and ExxonMobil Corporation. These
companies have highly vertically integrated operations throughout oil exploration, production, refining, transportation
and marketing. Companies such as ExxonMobil are also present as chemical manufacturers in this market,
demonstrating that forwards integration is apparent. What’s more, there are a relatively small number supplying many
different industries. Supplier power is strengthened as a result.
On the other hand, chemical companies tend to be able to make large purchases and losing such customers would
impact suppliers’ revenues, reducing power somewhat. Commodities such as crude oil or natural gas are relatively
undifferentiated products, the prices of which are set according to supply and demand by the mercantile exchanges of
New York, London and Dubai. By buying raw materials in the open market, chemical manufacturers have little control
over the price and may need hedging strategies in order to minimize the impact of price volatility. Since March 2020,
volatility has significantly increased across major markets due to the COVID-19 pandemic. Oil prices dipped below zero
in April 2020 due to supply glut and weak demand; however, prices surged in May as global supply was curtailed
(OPEC+ and the US reduced production).

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Utility companies can also be major suppliers to this market. For example, the chlor-alkali process, which results in the
production of chemicals like chlorine and sodium hydroxide, is extremely electricity intensive. However, larger players
in this market may have their own electricity generation capacity, and will therefore be less reliant on utility companies
as suppliers. Forward integration by suppliers can be fairly common. For example, oil and gas companies are often
producers of petrochemicals, as well as suppliers to chemical manufacturers. This increases supplier power, particularly
over those chemical producers that do not own their own upstream resources.
For other chemicals, minerals and sea water are among the most important inputs. For example, sodium chloride can
be formed by evaporating sea water or obtained from halite mines; it is then used in the production of sodium
carbonate, sodium hydroxide and chlorine. Sulfur, a key starting material for base chemicals such as sulfuric acid, is also
obtained by mining. Again, relying on mining companies that supply many different industries, which are usually
exceptionally large, can increase supplier power. Production of materials such as sulfur is also dominated by a few
countries. The United Arab Emirates is seeking to double sulfur production over the course of the next decade,
cementing the position of the country as a leading supplier.
Overall, supplier power is assessed as moderate.

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6.4. New entrants
Figure 8: Factors influencing the likelihood of new entrants in the chemicals market in the United States, 2020
Some chemicals have their own individual uses. For example some base chemicals may be used as household cleaners,
such as sodium hydroxide or ammonia; however, chemicals are most commonly used as raw materials for the
manufacture of more valuable products. As a result large buyers desire large volumes of chemicals which requires
chemical companies to operate on a large scale producing chemical products in bulk. The threat of new entrants is
therefore reduced as economies of scale are essential for producing chemicals on a large scale and highly important if
the available margins are to be worthwhile.
Entering the chemicals market requires large amounts of capital to set up high-volume production plants. The capital
intensity and importance of scale economies generally restricts market entry to medium-sized and large companies.
The presence of very strong, multinational incumbents provides a further obstacle to entering this market.
Certain sectors are more difficult to enter than others. For example, commodity chemical manufacturers produce
chemicals on a large scale to satisfy market demands. The scale of production requires a significant sum of capital
investment which is only achievable for medium to large scale companies. In contrast, some specialist chemicals such as
cleaning products can be manufactured on a smaller scale which makes entry much more achievable.
The greatest threat from entry into the US chemical manufacturing industry comes from existing foreign multinational
companies looking to expand into new markets by integration or acquisition; however, these activities could be
discouraged by domestic merger and acquisition activities. In September 2017, two of the largest players, Dow
Chemical Company and DuPont, completed a $130bn merger to form DowDuPont, the largest chemicals producer in
the US. The company split into three publicly-traded companies that sell agriculture, materials science, and specialty
products in April 2019. The presence of a single entity such as DowDuPont reduces the threat of new entrants by
creating a company of significant scale making competition significantly difficult.
Whilst many of the processes used to manufacture chemicals were originally developed in the early 20th century and
are in the public domain, incumbents often own significant IP assets and non-patented in-house expertise, which allow
them to enhance their production processes. New players may find it difficult to replicate this knowledge and compete
with these incumbents.
Particularly for a large-scale market entry, access to suppliers can be problematic. Due to the volume of raw materials
used, it is preferable to locate close to their sources. Moreover, the US, like most countries, has a host of legislation and
regulatory authorities to monitor the chemical market. For example, the Toxic Substances Control Act (TSCA) regulates
the introduction and use of new or already existing chemicals. The statute grants the Environmental Protection Agency

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(EPA) the authority to require chemical manufacturers to conduct toxicity tests on any substances already on the
market and control chemicals that pose a risk to health or the environment. This includes banning the production or
use of chemicals. Compliance increases costs and thereby decreases the likelihood of new entrants.
However, factors favoring market entry include the fact that chemicals, within the respective segments, are usually
undifferentiated commodities. A new player can make products indistinguishable from those of the incumbents, which
means that, provided they are not tied into contracts with existing suppliers, buyers are just as likely to opt for the new
player if presented with a cheaper option. However, relative to the very large players which dominate the market,
generic chemicals are of limited value. Furthermore, leading companies are of sufficient scale that generic chemical
companies find it hard to compete.
The chemicals market faced an uncertain year in 2020 due to the COVID-19 pandemic, which meant that demand for
chemicals experienced severe shocks and some supply chains were heavily disrupted. The uncertainty is likely to have
deterred any potential new players from entering the market that year. However, a rebound in demand in 2021 may
entice new entrants, particularly in segments which have experienced a boom such as pharmaceuticals, food additives
and disinfectants.
Overall, the likelihood of new entrants is assessed as weak.

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6.5. Threat of substitutes
Figure 9: Factors influencing the threat of substitutes in the chemicals market in the United States, 2020
Chemicals are fundamental to a wide variety of downstream businesses due to their nature as a raw material for a vast
range of products. As a result there are few substitutes for chemicals. Furthermore, buyers generally require chemical
products with a specific composition. In situations where a buyer can choose between different but related chemicals,
it is likely that the same market player manufactures them.
Some processes that use chemicals can be substituted by other means, such as using deep freezing instead of chemicals
to preserve biological samples. Chemicals in cleaning products could be substituted with natural products such as
vinegar or lemon juice but these substances are unlikely to be as efficient. Pesticides can be substituted with bio-
pesticides such as fungi to kill pests or with trap crops to lure insects away from the valuable crop.
Most countries are aware that they need to reduce the amount of waste they are producing as well as their carbon
footprints. In the US, the Environmental Protection Agency (EPA) monitors environmental issues such as fuel efficiency,
use of pesticides and air quality and advises companies if they are able to use a substitute for harmful chemicals.
However, any substitutes in this case tend to include less synthetic chemicals and the growth of naturally produced
chemicals. A move towards this substitution would likely cause a shift in the focus of major companies rather than open
up avenues for other companies to provide the substitute.
Overall, the threat of substitutes in this market is assessed as very weak.

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6.6. Degree of rivalry
Figure 10: Drivers of degree of rivalry in the chemicals market in the United States, 2020
US shale gas discoveries over the past decade have created a strong foundation for chemicals market investment with
natural reserves capable of producing large volumes. Since 2010, 333 chemicals market projects cumulatively valued at
$202.4bn have been announced. This has transformed the competitive landscape of the US chemicals market providing
opportunities for growth and expansion. Chemical companies tend to be medium to large sized businesses because of
the scale needed to produce chemicals in bulk. In the US, large companies such as BASF and ExxonMobil use their scale
to increase productivity and are able to fund their own research and development projects.
The chemicals market has become characterized of late by a series of mergers and acquisitions. Consolidations in the
market have been substantial. Most well-known is the Dow and DuPont merger in a deal valued at $130bn – one of the
largest mergers ever recorded. The market has traditionally been very diverse, enabling major players to occupy a
section of the market with relative ease. However, disappointing economic performance around the world weakened
demand in 2017, encouraging merger and acquisition activity. DowDuPont became the largest chemical company in the
US during 2018, achieving sales of $86bn and creating increased competition between market leaders such as BASF and
LyondellBasell Industries who have a strong presence in the US. In April 2019 the company separated into three
companies: Dow became its materials science division, Corteva Agriscience was formed as the agricultural chemical
division and DuPont became the specialty products division. The spilt further intensifies rivalry with large global players
competing in different chemical sectors with the support of each other. Beyond expansion in niches, the outlook for
chemical producing companies to expand appears poor. Enlarged groups are seeking to reduce costs by taking
advantage of economies of scale. Costs are soaring in the chemicals market, encouraging consolidation.
Generally speaking, in terms of rivalry, the large size of the majority of market players is offset by the small number of
chemical manufacturers. However, as manufacturers of chemicals produce commoditized products, it is often difficult
for players to differentiate and offer strong incentives for their customers not to switch to rival companies, thus
increasing rivalry. However, the chemicals market remains fragmented with a vast amount of chemical products, over
84,000 in the US. The ability for chemical manufacturers to specialize in certain chemical types helps reduce rivalry.
The technical nature of the manufacturing process of chemicals means that fixed costs are high. This makes it difficult
to exit the market and increases rivalry as a result. Storage costs are also high due to the hazardous nature of
chemicals. The lack of diversity for many companies also creates a competitive environment.
Political and trade tensions can exacerbate the degree of rivalry in the chemicals market. Trade tensions between US-
China created tariffs on hundreds of products from both countries including those on chemical products. For example,

Industry Profiles
in 2018 US methanol exports to China were less than 1% of the total 8.14mmt exported in 2017. This has had a major
impact on some US chemical manufacturers as a smaller market size with less Chinese trade creates a more
competitive environment.
New natural-gas-based assets on the US Gulf Coast are beginning to come on-stream which will significantly increase
the country’s capacity for commodity chemicals. This will allow companies to market their chemical products at more
competitive prices as the supply exceeds demand, resulting in more intense rivalry between players. Price can also be
subjected to changes in the price of commodities which can be instigated by oversupply.
Hostile conditions for the US agriculture industry at the start of 2018 increased rivalry in the agricultural chemical
sector. Dry conditions persisted through much of the early growing season affecting crop yields and reduced the
demand for fertilizers and other chemicals used in the industry.
For the largest companies in this market, rivalry is alleviated to an extent by the diverse range of markets in which they
operate. For example, ExxonMobil is not only a leading chemical manufacturer in the US, it is also one of the largest oil
and gas companies globally. As such, this company benefits from operating in a range of markets, as well as being
vertically integrated through the supply chain. BASF benefits from operating in over 80 countries across the globe. As
such, if the US chemicals market experiences a decline, the company has the potential to make up its shortfalls
elsewhere. BASF also benefits from its Verbund structure. Verbund is BASF's approach to vertical integration, which
involves linking plants to create efficient value-adding chains from basic chemicals to higher value products. At Verbund
sites, BASF uses by-products of chemical reactions, which might otherwise have to be disposed of as raw materials for
other processes. The company operates six Verbund sites worldwide.
Overall, rivalry is assessed as strong.

Industry Profiles
7. Competitive Landscape
The US chemicals market is highly competitive, with a number of multi-billion dollar corporations dominating
chemical production. Shale gas discoveries over the past decade have created a strong foundation for the chemical
market's investment, which has encouraged a number of companies to divest in international operations to focus
on the production of chemicals derived from shale gas in the US. Since 2010, the US chemicals market has
received over $200bn of investment in shale gas extraction and chemical production plants. Investment has
intensified competition with chemical companies battling for the largest share of production volumes in order to
secure market share available through growing chemical demand in the US. In addition, the implementation of
trade tariffs between the US and China has slowed trade. Industrial output has suffered as a result of slower trade,
which resulted in a drop in demand for chemical products. This has caused more intense competition in the US.
7.1. Who are the leading players?

BASF generated EUR59.1bn ($67.4bn) in 2020 and is regarded as the largest chemical company in the world. The
German chemical producer operates in over 90 countries, operating six Verbund sites, as well as 355 additional
chemical production facilities. The company has a well-balanced product portfolio, able to manufacture chemicals,
materials, surface technologies, nutrition and care, and agricultural solutions. BASF is the second largest producer
and marketer of chemicals and related products in North America.
ExxonMobil is a global leader in the production of petrol and petrochemicals. In 2018, the company’s chemical
business achieved an increase in chemical production volume from 25.42 million tons in 2017 to 26.87 million tons
in 2018. Between 2014 and 2018, the company's chemical sales volume increased at a CARG of 2.61% compared
to the market average of 0.4%.
DuPont de Nemours Inc (DuPont), formerly DowDuPont Inc, is a provider of chemicals and materials solutions to
the agriculture, specialty products, and materials science markets. The company reported revenues of $21,512m
for the fiscal year that ended December 2019 (FY2019), a decrease of 4.8% over FY2018.
LyondellBasell Industries NV is one of the largest plastics, chemicals and refining companies in the world. The
company reported revenues of $27.7bn for the fiscal year ended December 2020, a decrease of 20.1% over
FY2019. It is the number one producer of polypropylene compounds globally and the largest producer of
polyethylene and oxyfuels in Europe.
7.2. What have been the most significant mergers and acquisitions over
the last year?
The most common method of gaining market share or entering a new market place within the chemicals market is
the acquisition of or investment in an existing incumbent. Therefore M&A activity is high. Prior to the pandemic in
2019, the value of M&A in the global chemical market increased to $178.3bn, from $72.4bn the previous year.
Rising interest rates, stock market volatility, and ongoing trade tensions slowed M&A activity in the US and North
America during 2018. In comparison to 2018, the total US deal volume was flat overall in 2019.
BASF has made a number of strategic acquisitions in recent years. In 2018, the global chemical leader acquired a
number of assets from leading pharmaceutical research and marketing company Bayer. The resources obtained
through the acquisition include crop protection products, biotech and digital farming activities and expects to
strengthen the company’s position in the global agricultural solutions sector. The total purchase was valued at
around $9bn the largest acquisition in the company’s history. The integration of Bayer’s assets will significantly
improve the crop protection, biotech and digital farming activities conducted by BASF and also initiates the
company’s entry into the seeds, non-selective herbicides and nematicide seed treatments market.

Industry Profiles
In 2017, ExxonMobil increased its ownership of the Permian Basin by purchasing an estimated 3.4 billion oil-
equivalent barrels from the Bass family of Fort Worth, Texas. The purchase significantly increases the company’s
US resources and creates more raw materials for chemical production. ExxonMobil also formed a joint venture
with SABIC, involving the construction of a 1.8 million metric ton ethane steam cracker in San Patricio County,
Texas. The facility will be the largest of its kind and start production in 2022.
In September 2017, two of the largest players, Dow Chemical Company and DuPont, completed a $130bn merger
and now operate as DowDuPont, the largest chemicals producer in the US. The company split into three publicly-
traded companies, agriculture, materials science, and specialty products, in April 2019. The presence of a single
entity such a DowDuPont reduces the threat of new entrants by creating a company of significant scale, making
competition significantly difficult.
In January 2020, the company completed the acquisition of Desalitech, Inge GmbH, Memcor, and OxyMem Ltd.
These acquisitions help the company to increase access to the products and technologies needed to meet global
customers current and future challenges, including the increased need to recycle water while reducing the energy
requirements to generate clean water.
7.3. What strategies do the leading players follow?

BASF's strategy is centered on achieving profitability and sustainable growth. Operational excellence, digitalization,
innovation, portfolio management and employees have been identified by the company as key areas of
development needed to succeed. BASF is concentrating on organic business growth. Mexico is an important
market for BASF, with North America accounting for 27% of BASF’s global sales in 2020.
BASF continues to utilize the Verbund – a system that creates efficient value chains that extend from basic
chemicals all the way to consumer products. Chemical processes make use of energy more efficiently, achieve
higher product yields and conserve resources. Waste is reduced by using the byproduct of one process to fuel the
production of other chemicals. Six Verbund sites exist worldwide located in North America, Western Europe, And
across Asia and produce over 50% of the company’s production volumes. Savings from reducing wastewater,
steam and electricity logistics and material handling result in a highly efficient chemical company which produces
less waste and creates more profit then other chemical companies. The US is home to two of the corporation's
Verbund sites.
BASF has a strong desire to produce accelerator products that will help the company achieve its sales targets. By
2025, BASF plans to generate sales of around EUR22bn ($24.4bn) from innovative products alone.
In the US, BASF has generated organic growth in the areas of seeds and non-selective herbicides through its $9bn
acquisition of Bayer assets. The company also intends to increase its productivity in existing market areas,
including the development of a new ammonia producing facility at its Verbund Freeport site, Texas. The new
development will be constructed in partnership with Yara International, a global leader in fertilizer production. The
new facility will increase both companies’ production of ammonia by 750,000 metric tons of ammonia per year
and strengthen the competitiveness of their customer value chain in the region.
In addition, BASF doubled its methylene diphenyl diisocyanate (MDI) production capacity in North America. A new
plant began production in 2Q 2018 and will increase the company’s production from 300,000 metric tons to close
to 600,000 metric tons in the medium-term. MDI is an important component for polyurethanes, an extremely
versatile plastics material that contributes to improved insulation for appliances, provides lighter materials for cars
and helps save energy in buildings. It is a material expected to be high in demand in the US manufacturing
industry.
ExxonMobil achieved its highest volume of chemical sales in a decade during 2018. As the number one producer of
polyethylene, differentiated PE, adhesives, fluids/plasticizers, synthetics and butyl, it is obvious that ExxonMobil
has acquired an advantage through the installation of new chemical producing facilities, which has made its
production volumes unparalleled. It continues to invest in new infrastructure and projects to increase output and
meet the increasing global demand for chemicals. As well as the acquisition of the Banyan aromatics facility in
Singapore, ExxonMobil completed its premium halobutyl rubber facility. The project began construction in 2014
and production in 2018, increasing the company’s capacity to 140,000 tons per year.

Industry Profiles
ExxonMobil has focused investments in high growth potential markets. Its investment in the US will take
advantage of the growth potential caused by the nation’s shale gas reserves. In May 2019, it announced a $2bn
expansion of its Baytown Texas chemical facility. The incentive is to optimize the production of chemicals from the
Permian. The new unit will produce about 400,000 tons of Vistamaxx – a highly versatile performance polymer –
each year. The Baytown expansion project is part of the corporation’s wider Gulf Coast expansion project, which
launched in 2017. ExxonMobil is progressing 13 expansion products to ensure it maintains a globally dominant
position, leaving little room for other petrochemical producers to take advantage of growing chemical demand.
A strategic merger between two of America’s largest chemical companies, Dow and DuPont, was completed in
2017 to form DowDuPont. Price competition, subdued commodity prices, currency challenges, and bloated cost
structures have resulted in growth stagnating for both companies. Alliances between BASF and Syngenta and the
acquisition of agrochemical and biotechnology company Monsanto by Bayer have increased rivalry. Therefore, a
strategic merger between Dow and DuPont allowed the companies to maintain market share and gain significant
bargaining power over their suppliers. Now the company has completed a spilt, with DuPont retaining the
specialty chemical solutions business.
7.4. What impact is the COVID-19 pandemic having on market players?

As a result of falling energy demand caused by the COVID-19 pandemic and reduced commodity prices,
ExxonMobil announced on April 7 that it is reducing its 2020 capital spending by 30% and lowering cash operating
expenses by 15%. The company has also stated that the timing of expansion plans for select downstream and
chemical facilities across the company’s portfolio will be adjusted to capture efficiencies, slow spending pace and
better align with a return in commodity demand. Despite its struggle in 2020, the company has shown signs of
recovery in 2021. Exxon Mobil returned to profit in the first quarter of 2021 with earnings of $2.73bn compared to
a loss of $610bn a year ago. This broke a loss streak, which has been continuing for the past four quarters. In the
previous quarter, the oil and gas firm registered a $20.1bn loss. The company reported $9.3bn in cash flow from
operating activities, which financed dividend and capital expenditures as well as resulted in debt reduction of over
$4bn.
On May 1, 2020, LyondellBasell Industries announced net income for the first quarter of 2020 at $0.1bn, or $0.42
per share. The company has identified a number of issues it currently faces due to the pandemic. During March,
global initiatives to limit the spread of COVID-19 resulted in falling demand for transportation fuels that sharply
reduced margins for its oxyfuels and gasoline production. Automotive manufacturing shutdowns also diminished
typical seasonal improvements for its Advanced Polymer Solutions segment, where more than one third of the
segment's product volumes are utilized in the automotive sector. The company expects that the effects from the
pandemic, low crude oil pricing and a slowing economy will increasingly impact its businesses during the second
quarter. In April and May, its order books indicated strong ongoing demand for the polyolefins used in consumer
packaging and medical applications, which will help supports its recovery.

Industry Profiles
8. Company Profiles
8.1. BASF SE
8.1.1. Company Overview
BASF SE (BASF or 'the company') is a chemical company that produces and sells chemicals, performance
products, functional material, and agricultural products. Its products include propylene, ethylene, butadiene,
benzene, adipic acid, chlorine, glues, caustic soda, propionic acid, formic acid, vinyl monomers, chloroformates,
and chiral intermediates. The company also manufactures cement additives, concrete admixtures, flooring
systems, sealants, polyurethanes; standard foams, engineering and biodegradable plastics, polymer dispersions,
resins, vitamins, sterols, enzymes, carotenoids, emulsifiers. BASF offers its products to various industries,
including chemical and plastics, automotive, coatings, oilfield, construction, furniture, packaging, textile and
pharmaceutical. The company has a business presence across Europe, the Americas, Asia Pacific, Africa, and the
Middle East. The company is headquartered in Ludwigshafen, Germany.
The company reported revenues of (Euro) EUR59,149 million for the fiscal year ended December 2020
(FY2020), a decrease of 0.3% over FY2019. The operating loss of the company was EUR225 million in FY2020,
compared to an operating profit of EUR4,219 million in FY2019. The net loss of the company was EUR1,060
million in FY2020, compared to a net profit of EUR8,421 million in FY2019. The company reported revenues of
EUR19,400 million for the first quarter ended March 2021, an increase of 22% over the previous quarter.
8.1.2. Key Facts
Table 5: BASF SE: key facts
Head office: Carl-Bosch-Str. 38 , LUDWIGSHAFEN AM RHEIN, Germany

Telephone: 49621600
Fax: 496216042525
Number of Employees: 110261
Website: www.basf.com
Financial year-end: December
Ticker: BAS
Stock exchange: XETRA
SOURCE: COMPANY WEBSITE MARKETLINE
8.1.3. Business Description
BASF SE (BASF or 'the company') is a producer and marketer of chemicals and related products. The company
operates in more than 90 countries across the globe. It operates six Verbund sites and 36155 other production
sites worldwide.
The company operates in Europe, the Americas, Asia Pacific, Africa and the Middle East countries. BASF operates
through Six business segments: Chemicals , Industrial Solutions ,Materials, Surface Technologies, Nutrition &
Care,and Agricultural Solutions.
The Chemicals segment comprises the Petrochemicals and Intermediates divisions and is the cornerstone of
BASF’s Verbund structure. It supplies the other segments with basic chemicals and intermediates, contributing to
the organic growth of our key value chains. Alongside internal transfers, customers include the chemical and
plastics industries. The segment’s competitiveness is strengthened by technological leadership and operational
excellence. The Chemicals segment comprises the Petrochemicals and Intermediates divisions and is the

Industry Profiles
cornerstone of BASF’s Verbund structure. It supplies the other segments with basic chemicals and intermediates,
contributing to the organic growth of our key value chains. Alongside internal transfers, customers include the
chemical and plastics industries. The segment’s competitiveness is strengthened by technological leadership and
operational excellence. In FY2019, the Chemicals segment reported revenue of EUR 9,532 million, which
accounted for 16.1% of the company's revenue.
The Materials segment is composed of the Performance Materials division and the Monomers division. The
segment offers advanced materials and their precursors for new applications and systems. Its product portfolio
includes isocyanates and polyamides as well as inorganic basic products and specialties for plastics and plastics
processing. In FY2019, the Materials segment reported revenue of EUR 11,466 million, which accounted for 19.3%
of the company's revenue.
The Industrial Solutions segment consists of the Dispersions & Pigments and the Performance Chemicals divisions.
The segment develops and markets ingredients and additives for industrial applications, such as polymer
dispersions, pigments, resins, electronic materials, antioxidants and additives. Its customers come from key
industries such as automotive, plastics and electronics. In FY2019, the Industrial Solutions segment reported
revenue of EUR 8,389 million, which accounted for 14.1% of the company's revenue.
The Surface Technologies segment bundles chemical solutions for surfaces with the Catalysts and Coatings
divisions. Its product spectrum includes catalysts and battery materials for the automotive and chemical industries,
surface treatments, colors and coatings. In FY2019, the Surface Technologies segment reported revenue of EUR
13,142 million, which accounted for 22.2% of the company's revenue.
The Nutrition & Care segment comprises the Care Chemicals division and the Nutrition & Health division. The
segment produces ingredients and solutions for consumer applications in the areas of nutrition, home and
personal care. Its customers include food and feed producers as well as the pharmaceutical, cosmetics, detergent
and cleaner industries. In FY2019, the Nutrition & Care segment reported revenue of EUR 6,075 million, which
accounted for 10.2% of the company's revenue.
The Agricultural Solutions segment consists of the division of the same name. As an integrated provider, its
portfolio comprises fungicides, herbicides, insecticides and biological crop protection products, as well as seeds
and seed treatment products. Furthermore, Agricultural Solutions offers farmers innovative solutions, including
those based on digital technologies, combined with practical advice. In FY2019, the Agricultural Solutions segment
reported revenue of EUR 7,814million, which accounted for 13.2% of the company's revenue.
Activities that are not allocated to any of the segments are recorded under Other. These include other businesses,
which comprise commodity trading, engineering and other services, as well as rental income and leases.In FY2019,
the Other segment reported revenue of EUR 2,898million, which accounted for 4.9% of the company's revenue.
Geographically, the company classifies its operations into five regions: Europe, North America, Asia Pacific, and
South America, Africa and the Middle East. In FY2019, Europe accounted for 43.4% of the company's revenue,
followed by North America (27,7%); Asia Pacific (22.6%) and South America, Africa and the Middle East (6.4%).

Industry Profiles
Table 6: BASF SE: Annual Financial Ratios

Key Ratios 2015 2016 2017 2018 2019
Growth Ratios
Sales Growth % -18.31 6.38 -1.64 -1.50
Operating Income Growth % 0.43 20.91 -21.26 -29.38
EBITDA Growth % -1.22 11.68 -17.59 -13.24
Net Income Growth % 1.73 49.85 -22.56 78.90
EPS Growth % -13.04 30.64 -19.93 -44.81
Working Capital Growth % 2.89 53.02 22.30 -27.68
Equity Ratios
EPS (Earnings per Share) EUR 4.34 4.42 5.79 4.19 2.70
Dividend per Share EUR 2.90 3.00 3.10 3.20 3.30
Dividend Cover Absolute 1.50 1.47 1.87 1.31 0.82
Book Value per Share EUR 33.66 34.63 36.84 38.17 45.18
Profitability Ratios
Gross Margin % 27.08 31.77 32.07 28.74 27.40
Operating Margin % 8.87 10.90 12.39 9.92 7.11
Net Profit Margin % 5.66 7.05 9.93 7.82 14.20
Profit Markup % 37.14 46.57 47.20 40.33 37.75
PBT Margin (Profit Before Tax) % 7.88 9.37 11.24 8.69 5.57
Return on Equity % 12.90 12.75 17.96 13.43 20.29
Return on Capital Employed % 11.04 10.26 11.88 9.45 6.00
Return on Assets % 11.26 5.51 7.83 5.69 9.71
Return on Working Capital % 60.48 59.04 46.65 30.03 29.33
Operating Costs (% of Sales) % 91.13 89.10 87.61 90.08 92.89
Administration Costs (% of Sales) % 13.53 15.94 15.59 15.10 15.63
Liquidity Ratios
Current Ratio Absolute 1.73 1.69 2.09 1.85 1.87
Quick Ratio Absolute 1.04 1.04 1.40 1.33 1.19
Cash Ratio Absolute 0.16 0.12 0.44 0.11 0.17
Leverage Ratios
Debt to Equity Ratio Absolute 0.49 0.52 0.54 0.60 0.48
Net Debt to Equity Absolute 0.42 0.46 0.34 0.52 0.41
Debt to Capital Ratio Absolute 0.33 0.34 0.35 0.37 0.32
Efficiency Ratios
Asset Turnover Absolute 1.99 0.78 0.79 0.73 0.68
Fixed Asset Turnover Absolute 5.58 2.23 2.37 2.62 2.79
Inventory Turnover Absolute 10.60 3.99 4.10 3.82 3.68
Current Asset Turnover Absolute 5.74 2.28 2.14 1.62 1.60
Capital Employed Turnover Absolute 1.24 0.94 0.96 0.95 0.84
Working Capital Turnover Absolute 6.82 5.41 3.76 3.03 4.12
SOURCE: COMPANY FILINGS MARKETLINE

Industry Profiles
Table 7: BASF SE: Key Employees
Name Job Title Board

Anke Schaferkordt Director Non Executive Board
Christoph Wegner Chief Digital Officer Senior Management
President Digitalization and Information
Christoph Wegner Senior Management
Services
Dame Alison J. Carnwath Director Non Executive Board
Denise Schellemans Director Non Executive Board
Dirk Elvermann President Finance Senior Management
Franz Fehrenbach Director Non Executive Board
Hans-Ulrich Engel Chief Financial Officer Executive Board
Hans-Ulrich Engel Vice Chairman Executive Board
Kurt Bock Chairman Supervisory Board Executive Board
Liming Chen Director Non Executive Board
Markus Kamieth Director Executive Board
Markus Kamieth Head - South America Executive Board
Martin Brudermuller Chairman Executive Board
Martin Brudermuller Chief Executive Officer Executive Board
Melanie Maas-Brunner Chief Technology Officer Executive Board
Melanie Maas-Brunner Director Executive Board
Michael Heinz Chairman New Jersey Executive Board
Michael Heinz Chief Executive Officer New Jersey Executive Board
Michael Vassiliadis Director Non Executive Board
Roland Strasser Director Non Executive Board
Saori Dubourg Director Non Executive Board
Sinischa Horvat Director Non Executive Board
Tatjana Diether Director Non Executive Board
Thomas Carell Director Non Executive Board
Waldemar Helber Director Non Executive Board
Wayne T. Smith Director Non Executive Board

Industry Profiles
8.2. Exxon Mobil Corporation
Exxon Mobil Corporation (Exxon Mobil or “the company”) is an integrated oil and gas company that is involved
in the exploration and production of crude oil and natural gas, manufacture of petroleum products, and
transportation and sale of crude oil, natural gas, and petroleum products. The company also manufactures and
markets commodity petrochemicals, including polyethylene, olefins, polypropylene plastics, aromatics and a
wide range of specialty products. Exxon Mobil markets its products under Exxon, Mobil, Esso and Mobil 1
brands. Exxon Mobil has business presence across the Americas, Europe, Africa, the Middle East, and Asia
Pacific. The company is headquartered in Irving, Texas, the US.
The company reported revenues of (US Dollars) US$178,574 million for the fiscal year ended December 2020
(FY2020), a decrease of 30.1% over FY2019. The operating loss of the company was US$30,653 million in
FY2020, compared to an operating profit of US$11,664 million in FY2019. The net loss of the company was
US$22,440 million in FY2020, compared to a net profit of US$14,340 million in FY2019. The company reported
revenues of US$57,552 million for the first quarter ended March 2021, an increase of 25.8% over the previous
quarter.
8.2.2. Key Facts
Table 8: Exxon Mobil Corporation: key facts
Head office: 5959 LAS COLINAS BLVD , IRVING, Texas, United States
Telephone: 19729406000
Fax: 19724441505
Website: corporate.exxonmobil.com
Ticker: XOM
Stock exchange: New York Stock Exchange
Exxon Mobil Corporation (Exxon Mobil or “the company”) is an oil and gas company. The company is involved in
the exploration and production of crude oil and natural gas, manufacture of petroleum products, and
transportation and sale of crude oil, natural gas, and petroleum products. It also manufactures and markets
commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene and a wide range of
specialty products. Exxon Mobil operates in the Americas, Europe, Africa, the Middle East, and Asia Pacific.
The company operates through three reportable business segments: Downstream; Chemicals; and Upstream.
The Downstream segment manufactures and sells petroleum products. Exxon Mobil's downstream operations
refine and distribute products derived from crude oil and other feed stocks. The company's global network of
manufacturing plants, transportation systems, and distribution centers provides fuels, lubricants, and other
products and feedstocks to customers. Exxon Mobil delivered petroleum product of 5.5 millions of barrels per day
in FY2019. It has ownership interests in 21 refineries, operated in 14 countries, with distillation capacity of 4.7
million barrels per day and lubricant base stock manufacturing capacity of 129,000 barrels per day. The company
had a refinery throughput of 4.7 millions of barrels per day in FY2019. Exxon Mobil's fuels and lubes marketing
businesses have a portfolio of brands including: Exxon, Mobil and Esso selling through 21,409 retail sites
worldwide. In FY2019, the Downstream segment reported revenue of US$204,983 million, which accounted for
80.2% of the company's total revenue.

Industry Profiles
The Chemicals segment produces and sells petrochemicals. The segment supplies olefins, aromatics, polyethylene,
polyolefins, polypropylene, Paraxylene, ethylene, polyolefins and other petrochemical products. During FY2019,
the company operated 15 petrochemical complexes with a total refining capacity of 10.7 million metric tons of
ethylene, 10.6 million metric tons of polyethylene, 4.1 million metric tons of paraxylene and 2.7 million metric tons
of polypropylene. The company sold a total of 26.5 million metric tons of chemical prime products. In FY2019, the
Chemical segment reported revenue of US$27,416 million, which accounted for 10.7% of the company's total
revenue.
The Upstream segment explores for and produces crude oil and natural gas. The company's upstream business
includes exploration, development, production, natural gas marketing, and research activities. The company's
upstream portfolio includes operations in the US, Canada, other Americas, Europe, the Asia-Pacific, Australia, and
Africa. In the US, the exploration and development is carried out primarily in the Permian Basin of West Texas and
New Mexico, the Bakken oil play in North Dakota. Moreover, the company carries out the gas development
activities in the Marcellus Shale of Pennsylvania and West Virginia, the Utica Shale of Ohio, the Haynesville Shale of
Texas and Louisiana. In FY2019, Exxon Mobil's liquid production (including crude oil, natural gas liquids, was 2.4
millions of barrels per day and natural gas production was 9,394 millions of cubic feet per day. The company's oil-
equivalent production was approximately 4 millions of barrels per day. As of December 2019, the company held
31,764 gross developed acres, 42,119 gross productive wells and 31,271 gross natural gas wells. The company
drilled eleven net productive exploratory and three dry exploratory wells, and 894 productive developmental and
nine dry developmental wells. At the end of FY2019, the company proved reserves consist of 22,445 million barrels
of oil-equivalent reserves including 8,728 million barrels of crude oil, 1,597 million barrels of natural gas liquids
(NGL's), 3,858 million barrels of bitumen, 415 million barrels of synthetic oil, and 47,080 billion cubic feet of
natural gas. In FY2019, the Upstream segment reported revenue of US$23,143 million, which accounted for 9.1%
of the company's total revenue.
Geographically, the company classifies its operations two segments, namely the US and Non-US. In FY2019, the US
reported revenue of US$89,612 million, which accounted for 35.1% of the company's total revenue, followed by
Non-US with US$165,971 million (64.9%).

Industry Profiles
Table 9: Exxon Mobil Corporation: Annual Financial Ratios

Key Ratios 2014 2015 2016 2017 2018
Growth Ratios
Sales Growth % -16.35 18.21 17.78 -8.50
Operating Income Growth % -92.73 1189.96 72.59 -44.03
EBITDA Growth % -24.85 37.53 23.83 -22.54
Net Income Growth % -51.46 151.40 5.73 -31.19
EPS Growth % -51.23 72.35 50.88 -47.02
Working Capital Growth % -45.20 70.96 -13.84 52.07
Equity Ratios
EPS (Earnings per Share) USD 3.85 1.88 3.23 4.81 3.19
Dividend per Share USD 2.88 2.98 3.06 3.23 3.43
Book Value per Share USD 41.10 40.34 44.28 45.27 45.26
Gross Margin % 30.96 32.16 31.55 30.96 29.33
Profit Markup % 44.85 47.41 46.09 44.84 41.50
Return on Equity % 9.45 4.69 10.50 10.87 7.48
Return on Assets % 9.59 2.35 5.81 6.00 4.05
Return on Working Capital % -290.73 -113.48 -15.04 -113.51 -227.38
Liquidity Ratios
Leverage Ratios
Efficiency Ratios

Industry Profiles
Table 10: Exxon Mobil Corporation: Key Employees

Andrew P. Swiger Principal Financial Officer Senior Management
Andrew P. Swiger Senior Vice President Senior Management
Angela F. Braly Director Non Executive Board
President ExxonMobil Fuels and Lubricants
Bryan Milton Senior Management
Company
Bryan Milton Vice President Senior Management
Craig Morford General Counsel Senior Management
Craig Morford Vice President Senior Management
Darren W. Woods Chairman Executive Board
Darren W. Woods Chief Executive Officer Executive Board
Douglas R. Oberhelman Director Non Executive Board
Geraldine Chin Chairman ExxonMobil Asia Pacific Executive Board
Geraldine Chin Managing Director ExxonMobil Asia Pacific Executive Board
Jack P. Williams Senior Vice President Senior Management
James M. Spellings, Jr. General Tax Counsel Senior Management
James M. Spellings, Jr. Vice President Senior Management
Jeffrey Ubben Director Non Executive Board
Joseph L. Hooley Director Non Executive Board
Karen McKee President ExxonMobil Chemical Company Senior Management
Kenneth C. Frazier Director Non Executive Board
Len M. Fox Controller Senior Management
Len M. Fox Vice President Senior Management
Liam Mallon President ExxonMobil Development Company Senior Management
President ExxonMobil Upstream Business
Linda D. DuCharme Senior Management
Development Company
President ExxonMobil Upstream Integrated
Linda D. DuCharme Senior Management
Solutions Company
Linda D. DuCharme Vice President Senior Management
Michael Angelakis Director Non Executive Board
Neil A. Chapman Senior Vice President Senior Management
Vice President Fuels Europe, Middle East and
Neil A. Hansen Senior Management
Africa
Neil W. Duffin President ExxonMobil Production Company Senior Management
Neil W. Duffin Vice President Senior Management

Industry Profiles
Table 11: Exxon Mobil Corporation: Key Employees Continued

Robert N. Schleckser Treasurer Senior Management
Robert N. Schleckser Vice President Senior Management
Samuel J. Palmisano Director Non Executive Board
Stephen Littleton Corporate Secretary Senior Management
Stephen Littleton Vice President Investor Relations Senior Management
Steven A. Kandarian Director Non Executive Board
Susan K. Avery Director Non Executive Board
Tan Sri Wan Zulkiflee Wan Ariffin Director Non Executive Board
Theodore J. Wojnar, Jr. Vice President Corporate Strategic Planning Senior Management
Ursula M. Burns Director Non Executive Board
William C. Weldon Director Non Executive Board

Industry Profiles
8.3. DuPont de Nemours Inc
DuPont de Nemours Inc (DuPont), formerly DowDuPont Inc, is a provider of chemicals. The company classifies
its business into four divisions as electronics and imaging, nutrition and biosciences, safety and construction,
and transportation and industrial. Its product portfolio includes adhesives, advanced printing solutions, animal
nutrition, construction materials, biomaterials, electronic solutions, fabrics, fibers & nonwovens, food &
beverage ingredients, industrial films, medical devices, resins and others. The company caters its products to
industries such as automotive, building & construction, energy, electronics, food & beverage, aerospace, textile,
medical, personal care and Packaging & Printing. DuPont is headquartered in Wilmington, Delaware, the US.
(FY2020), a decrease of 5.2% over FY2019. The operating loss of the company was US$2,307 million in FY2020,
compared to an operating loss of US$66 million in FY2019. The net loss of the company was US$2,951 million in
FY2020, compared to a net profit of US$498 million in FY2019. The company reported revenues of US$3,976
million for the first quarter ended March 2021, a decrease of 24.3% over the previous quarter.
8.3.2. Key Facts
Table 12: DuPont de Nemours Inc: key facts
Head office: 974 Centre Rd Bldg 730 , WILMINGTON, Delaware, United States
Fax: 13026555049
Website: www.dupont.com
DuPont de Nemours Inc (DuPont), formerly DowDuPont Inc, is chemical company. It provides chemicals and
materials solutions for agriculture, materials science and specialty products sectors.
The company operates through five reportable segments, namely, Electronics & Imaging, Nutrition & Biosciences,
Transportation & Advanced Polymers, Safety & Construction and Non-Core. Its Corporate segment includes
enterprise and governance activities such as insurance operations, environmental operations, geographic
management, business incubation platforms and others.
DuPont had over 141 subsidiaries at the end of FY2019.

Industry Profiles
Table 13: DuPont de Nemours Inc: Annual Financial Ratios

Key Ratios 2015 2016 2017 2018 2019
Growth Ratios
Sales Growth % -1.27 -75.76 93.57 -4.79
Operating Income Growth % -52.67 -138.35 -141.77
EBITDA Growth % -39.55 -72.47 187.01 -48.50
Net Income Growth % -43.81 -73.16 231.75 -87.05
EPS Growth % -14.56 -99.98 51104.00 -28.26
Working Capital Growth % -52.89 114.97 124.46 -96.90
Equity Ratios
EPS (Earnings per Share) USD 17.75 10.63 -1.66 0.38 -0.95
Dividend Cover Absolute 3.44 1.92 -1.45 0.08 -0.44
Gross Margin % 22.62 21.84 18.11 32.27 34.66
Operating Margin % 20.92 10.03 -15.87 0.70 -0.31
Profit Markup % 29.23 27.94 22.12 47.65 53.04
PBT Margin (Profit Before Tax) % 20.36 9.16 -13.07 2.66 -2.20
Return on Equity % 9.75 16.62 1.16 4.08 1.22
Return on Capital Employed % 7.47 7.22 -1.12 0.14 -0.11
Return on Assets % 3.64 0.85 2.02 0.39
Return on Working Capital % 43.48 43.68 -7.79 0.30 -3.99
Liquidity Ratios
Leverage Ratios
Efficiency Ratios
Asset Turnover Absolute 0.41 0.09 0.12 0.17
Fixed Asset Turnover Absolute 1.73 0.39 0.98 2.09
Inventory Turnover Absolute 3.16 0.78 1.45 3.34
Current Asset Turnover Absolute 1.41 0.32 0.26 0.31

Industry Profiles
Table 14: DuPont de Nemours Inc: Key Employees

Alexa Dembek Chief Technology & Sustainability Officer Senior Management
Alexander M. Cutler Director Non Executive Board
Amy G. Brady Director Non Executive Board
Darrell Ford Chief Human Resources Officer Senior Management
Darrell Ford Senior Vice President Senior Management
Deanna M. Mulligan Director Non Executive Board
Edward D. Breen Chairman Executive Board
Edward D. Breen Chief Executive Officer Executive Board
Eleuthere I. Du Pont Director Non Executive Board
Erik T. Hoover General Counsel Senior Management
Erik T. Hoover Senior Vice President Senior Management
Franklin K. Clyburn Director Non Executive Board
Frederick M. Lowery Director Non Executive Board
Jon Kemp President Electronics and Imaging Senior Management
Kimberly Markiewicz Vice President Diversity, Equity and Inclusion Senior Management
Lori Koch Chief Financial Officer Senior Management
Luther C. Kissam Director Non Executive Board
Matthias Heinzel President Nutrition and Biosciences Senior Management
Raj Ratnakar Chief Strategy Officer Senior Management
Raj Ratnakar Senior Vice President Senior Management
Rajiv L. Gupta Director Non Executive Board
Randy Stone President Transportation and Industrial Senior Management
Raymond J. Milchovich Director Non Executive Board
Rose Lee President Safety and Construction Senior Management
Ruby R. Chandy Director Non Executive Board
Steve Larrabee Chief Information Officer Senior Management
Steve Larrabee Senior Vice President Senior Management
Steven M. Sterin Director Non Executive Board
Terrence R. Curtin Director Non Executive Board

Industry Profiles
8.4. LyondellBasell Industries N.V.
LyondellBasell Industries N.V. (LyondellBasell or 'the company') is a manufacturer and marketer of chemicals
and plastics. The company refines crude oil and converts into refined products including diesel, gasoline and jet
fuel. Its chemical products include propylene oxide, polyolefin catalysts, polyolefin and polypropylene
compounds, ethylene, olefins, oxy fuels, colors and powders, masterbatches, engineered plastics, engineered
composites, advanced polymers, polyethylene and propylene. The company also licenses and develops
chemical and polyolefin process technologies. LyondellBasell’s products and technologies find applications in
several sectors including food packaging, automotive components, construction materials, home furnishings,
and paints and coatings. It has business presence across the Americas, Europe, and Asia-Pacific. The company is
headquartered in Houston, Texas, the US.
(FY2020), a decrease of 20.1% over FY2019. In FY2020, the company’s operating margin was 5.6%, compared to
an operating margin of 11.9% in FY2019. In FY2020, the company recorded a net margin of 5.1%, compared to a
net margin of 9.8% in FY2019. The company reported revenues of US$9,082 million for the first quarter ended
March 2021, an increase of 14.4% over the previous quarter.
8.4.2. Key Facts
Table 15: LyondellBasell Industries N.V.: key facts
Head office: 4th Floor One Vine Street, , LONDON, United Kingdom
Fax: 31102755589
Website: www.lyondellbasell.com
Ticker: LYB
Stock exchange: New York Stock Exchange
LyondellBasell Industries N.V. (LyondellBasell or 'the company') is a chemical company that produces and sells
plastics, polymers and chemicals. These products are used in various applications, such as home furnishings, food
packaging, paints and coatings, and automotive components. The company sells its products in more than 100
countries. It operates manufacturing facilities across the Americas, Europe, and Asia-Pacific.
LyondellBasell operates though six reportable business segments: Olefins and Polyolefins - Europe, Asia,
International (O&P - EAI); Intermediates and Derivatives (I&D); Olefins and Polyolefins - Americas (O&P -
Americas); Advanced Polymer Solutions (APS); Refining; and Technology.
The company's O&P - EAI segment manufactures and markets olefins and co-products, polypropylene (PP) and
polyethylene (PE). The segment operates sales offices in Hong Kong, The Netherlands, China, Australia, India and
the UAE, and other countries in Europe, Asia and Africa. In FY2019, the O&P - EAI segment reported revenue of
US$8,764 million, which accounted for 25.2% of the company's revenue.
The I&D segment of the company manufactures and markets propylene oxide (PO) and its derivatives, oxygenated
fuels (or oxyfuels), and related products and intermediate chemicals, such as styrene monomer, acetyls, ethylene
oxide and ethylene glycol. In FY2019, the I&D segment reported revenue of US$7,642 million, which accounted for
22% of the company's revenue.

Industry Profiles
The O&P - Americas segment manufactures and markets olefins and co-products, polyethylene and polypropylene.
The segment operates sales offices across North America and transports its polyolefins by railcar and truck. In
FY2019, the O&P - Americas segment reported revenue of US$5,311 million, which accounted for 15.3% of the
company's revenue.
The APS segment manufactures and markets compounding and solutions, including polypropylene compounds,
colors and powders, masterbatches, engineered plastics, engineered composites, and advanced polymers, such as
polybutene-1 and Catalloy. In FY2019, the ASP segment reported revenue of US$4,846 million, which accounted
for 14% of the company's revenue.
The Refining segment of the company refines heavy, high-sulfur crude oil and other crude oils of varied types and
sources available on the US Gulf Coast into refined products, including distillates and gasoline. In FY2019, the
Refining segment reported revenue of US$7,599 million, which accounted for 21.9% of the company's revenue.
LyondellBasell's Technology segment develops and licenses polyolefin and chemical process technologies. It
manufactures and sells polyolefin catalysts. In FY2019, the Technology segment reported revenue of US$565
million, which accounted for 1.6% of the company's revenue.
Geographically, the company classifies its operations into nine segments: the US, Germany, Italy, France, Japan,
China, Mexico, the Netherlands, and Other. In FY2019, the US accounted for 47.1% of the company's revenue,
followed by Germany (7.8%), Mexico (4.7%), Italy (4.1%), France (3.9%), China (3.5%), Japan (3%),the Netherlands
(2.7%) and Other (23.2%).

Industry Profiles
Table 16: LyondellBasell Industries N.V.: Annual Financial Ratios

Key Ratios 2015 2016 2017 2018 2019
Growth Ratios
Sales Growth % -10.85 18.16 13.11 -10.97
Operating Income Growth % -17.35 7.91 -4.19 -21.32
EBITDA Growth % -14.58 8.33 -2.44 -16.13
Net Income Growth % -14.30 27.19 -3.87 -27.57
EPS Growth % -4.70 11.59 18.23 -20.27
Working Capital Growth % -7.00 37.60 -27.41 -14.66
Equity Ratios
EPS (Earnings per Share) USD 9.60 9.15 10.21 12.07 9.62
Gross Margin % 21.70 20.55 18.70 16.60 15.72
Profit Markup % 27.71 25.87 23.00 19.90 18.66
Return on Equity % 68.34 63.43 54.52 45.72 42.23
Return on Assets % 39.34 16.61 19.65 17.22 11.57
Return on Working Capital % 112.54 100.02 78.44 103.52 95.45
Liquidity Ratios
Leverage Ratios
Efficiency Ratios

Industry Profiles
Table 17: LyondellBasell Industries N.V.: Key Employees

Albert J. Manifold Director Non Executive Board
Senior Vice President Global Business
Anup Sharma Senior Management
Services
Bhavesh V. Patel Chief Executive Officer Executive Board
Bhavesh V. Patel Director Executive Board
Claire S. Farley Director Non Executive Board
Senior Vice President Human Resources and
Dale Friedrichs Senior Management
Global Projects
Executive Vice President Global
Daniel Coombs Senior Management
Manufacturing, Projects and Refining
Isabella D. Goren Director Non Executive Board
Jacques Aigrain Chairman Executive Board
Jagjeet S. Bindra Director Non Executive Board
Executive Vice President Advanced Polymer
James Guilfoyle Senior Management
Solutions and Global Supply Chain
Senior Vice President Research and
James Seward Senior Management
Development, Technology and Sustainability
Senior Vice President Europe, Asia and
Jean Gadbois Senior Management
International Manufacturing
Jeffrey A. Kaplan Chief Legal Officer Senior Management
Jeffrey A. Kaplan Executive Vice President Senior Management
Executive Vice President Global Olefins and
Kenneth Lane Senior Management
Polyolefins
Vice President Health, Safety and
Kim Foley Senior Management
Environment
Lincoln Benet Director Non Executive Board
Michael C. McMurray Chief Financial Officer Senior Management
Michael C. McMurray Executive Vice President Senior Management
Michael S. Hanley Director Non Executive Board
Senior Vice President Americas
Michael VanDerSnick Senior Management
Manufacturing
Nance K. Dicciani Director Non Executive Board
Senior Vice President Olefins and Polyolefins,
Richard Roudeix Senior Management
Europe, Asia and International
Robin W. T. Buchanan Director Non Executive Board
Stephen F. Cooper Director Non Executive Board
Executive Vice President Intermediates and
Torkel Rhenman Senior Management
Derivatives, Refining

Industry Profiles
9. Macroeconomic Indicators
9.1. Country data
Table 18: United States size of population (million), 2016–20
Year Population (million) % Growth

2016 323.8 0.8%
2017 326.3 0.8%
2018 328.9 0.8%
2019 331.4 0.8%
2020 333.9 0.8%
Table 19: United States gdp (constant 2005 prices, $ billion), 2016–20
Year Constant 2005 Prices, $ billion % Growth

2016 15,739.0 3.0%
2017 16,161.3 2.7%
2018 16,559.0 2.5%
2019 16,929.6 2.2%
2020 17,270.7 2.0%
Table 20: United States gdp (current prices, $ billion), 2016–20
Year Current Prices, $ billion % Growth

2016 19,223.8 5.0%
2017 20,145.1 4.8%
2018 21,077.3 4.6%
2019 21,993.9 4.3%
2020 22,953.1 4.4%
Table 21: United States inflation, 2016–20

Industry Profiles
Year Inflation Rate (%)

2016 2.1%
2017 2.3%
2018 2.3%
2019 2.2%
2020 2.4%
Table 22: United States consumer price index (absolute), 2016–20
Year Consumer Price Index (2005 = 100)

2016 126.4
2017 129.3
2018 132.2
2019 135.1
2020 138.3
Table 23: United States exchange rate, 2016–20
Year Exchange rate (€/$)

2016 1.1068
2017 1.1320
2018 1.1810
2019 1.1200
2020 1.1405

Industry Profiles
Appendix
Methodology
MarketLine Industry Profiles draw on extensive primary and secondary research, all aggregated, analyzed, cross-
checked and presented in a consistent and accessible style.
Review of in-house databases – Created using 250,000+ industry interviews and consumer surveys and supported by
analysis from industry experts using highly complex modeling & forecasting tools, MarketLine’s in-house databases
provide the foundation for all related industry profiles
Preparatory research – We also maintain extensive in-house databases of news, analyst commentary, company profiles
and macroeconomic & demographic information, which enable our researchers to build an accurate market overview
Definitions – Market definitions are standardized to allow comparison from country to country. The parameters of each
definition are carefully reviewed at the start of the research process to ensure they match the requirements of both the
market and our clients
Extensive secondary research activities ensure we are always fully up-to-date with the latest industry events and trends
MarketLine aggregates and analyzes a number of secondary information sources, including:
- National/Governmental statistics
- International data (official international sources)
- National and International trade associations
- Broker and analyst reports
- Company Annual Reports
- Business information libraries and databases
Modeling & forecasting tools – MarketLine has developed powerful tools that allow quantitative and qualitative data to
be combined with related macroeconomic and demographic drivers to create market models and forecasts, which can
then be refined according to specific competitive, regulatory and demand-related factors
Continuous quality control ensures that our processes and profiles remain focused, accurate and up-to-date

Industry Profiles
9.2. Industry associations
9.2.1. International Council of Chemical Associations
ICCA c/o Cefic, Avenue E. Van Nieuwenhuyse 4, box 1, B-1160 Brussels, BEL
Tel.: 32 2 676 74 15
www.icca-chem.org
9.2.2. American Chemistry Council (ACC)
1300 Wilson Boulevard Arlington, VA 22209, USA

Tel.: 1 703 5105
Fax: 1 703 6082
www.americanchemistry.com
9.2.3. American Chemical Society
1155 Sixteenth Street, NW, Washington, DC 20036, USA

Tel.: 202 872 4600
www.acs.org
9.3. Related MarketLine research
9.3.1. Industry Profile
Global Chemicals
Chemicals in Europe
Chemicals in Asia-Pacific
Chemicals in Mexico
Chemicals in Brazil

Industry Profiles
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MarketLine Industry Profile

Chemicals in the United States

Reference Code: 0072-2021

Publication Date: June 2021

Primary NAICS: 3251

Secondary NAICS: 325180,325199

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 1

1.1. Market value

1.2. Market value forecast

1.3. Category segmentation

1.4. Geography segmentation

1.5. Market rivalry

1.6. Competitive Landscape

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 2

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 3

1.1. Market value ................................................................................................................................................2

1.2. Market value forecast ..................................................................................................................................2

1.3. Category segmentation................................................................................................................................2

1.4. Geography segmentation.............................................................................................................................2

1.5. Market rivalry...............................................................................................................................................2

1.6. Competitive Landscape ................................................................................................................................2

2.1. Market definition .........................................................................................................................................8

2.2. Market analysis ............................................................................................................................................8

3.1. Market value ..............................................................................................................................................10

4.1. Category segmentation..............................................................................................................................11

4.2. Geography segmentation...........................................................................................................................12

5.1. Market value forecast ................................................................................................................................13

6. Five Forces Analysis 14

6.1. Summary ....................................................................................................................................................14

6.2. Buyer power...............................................................................................................................................15

6.3. Supplier power ...........................................................................................................................................17

6.4. New entrants .............................................................................................................................................19

6.5. Threat of substitutes ..................................................................................................................................21

6.6. Degree of rivalry.........................................................................................................................................22

7.1. Who are the leading players? ....................................................................................................................24

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 4

7.3. What strategies do the leading players follow?.........................................................................................25

8.1. BASF SE.......................................................................................................................................................27

8.2. Exxon Mobil Corporation ...........................................................................................................................31

8.3. DuPont de Nemours Inc .............................................................................................................................36

8.4. LyondellBasell Industries N.V. ....................................................................................................................39

9.1. Country data ..............................................................................................................................................43

9.2. Industry associations..................................................................................................................................46

9.3. Related MarketLine research .....................................................................................................................46

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 5

Table 2: United States chemicals market category segmentation: $ billion, 2020 11

Table 3: United States chemicals market geography segmentation: $ billion, 2020 12

Table 4: United States chemicals market value forecast: $ billion, 2020–25 13

Table 5: BASF SE: key facts 27

Table 6: BASF SE: Annual Financial Ratios 29

Table 7: BASF SE: Key Employees 30

Table 8: Exxon Mobil Corporation: key facts 31

Table 9: Exxon Mobil Corporation: Annual Financial Ratios 33

Table 10: Exxon Mobil Corporation: Key Employees 34

Table 11: Exxon Mobil Corporation: Key Employees Continued 35

Table 12: DuPont de Nemours Inc: key facts 36

Table 13: DuPont de Nemours Inc: Annual Financial Ratios 37

Table 14: DuPont de Nemours Inc: Key Employees 38

Table 15: LyondellBasell Industries N.V.: key facts 39

Table 16: LyondellBasell Industries N.V.: Annual Financial Ratios 41

Table 17: LyondellBasell Industries N.V.: Key Employees 42

Table 18: United States size of population (million), 2016–20 43

Table 20: United States gdp (current prices, $ billion), 2016–20 43