C&EN Selected Top 50 Chemical Companies
2nd in Asia After China Sinopec
Highly Rated for Eco-Friendly Materials and Battery Investments
LG Chem has entered the 'Top 5' in the global chemical company rankings selected by the American Chemical Society's professional journal, becoming the first Korean company to do so.
According to the industry on the 31st, LG Chem ranked 4th in this year's top 50 chemical companies list announced by the chemical industry specialized media 'C&EN', rising three places from last year (7th). This is the first time a Korean company has been included in the 'Top 5' in the chemical company rankings published by C&EN. Among Asian companies, it is second only to China's Sinopec (2nd).
C&EN annually analyzes chemical companies' sales, operating profits, growth rates, and other factors comprehensively to announce the chemical company rankings. It evaluates each company's performance based on achievements in areas such as business expansion and mergers and acquisitions. This year, Germany's BASF retained the 1st place from last year.
C&EN mentioned LG Chem's expansion strategy in new businesses based on eco-friendly raw materials, including establishing a next-generation bio oil (HVO) plant with Italy's ENI, commercializing bio nylon (PA) with CJ CheilJedang, and commercializing biodegradable 3HP (3-hydroxypropionic acid) with GS Caltex.
They also highly evaluated LG Chem's strategy to strengthen its battery materials sector, such as the cathode material plant started at the end of last year in Tennessee, USA, and the approximately 25 trillion won cathode material supply contract with General Motors (GM).
In this year's global top 50 chemical companies ranking, besides LG Chem, Korean companies Lotte Chemical (27th), Hanwha Solutions (47th), and SK Innovation (50th) were also included.
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