BASF will no longer make holding the top spot among global chemical companies by revenue its primary objective, the firm's CEO said, opting instead to concentrate on creating value as the industry undergoes significant change.
"Size in itself is not a goal for us," Markus Kamieth told journalists late on Monday. He acknowledged that competitors may surpass BASF in terms of raw scale but stressed the companys intent to remain "one of the most valuable companies in our industry."
Kamieth described the current business environment as the most difficult in at least 25 years, noting a shift in the global balance of industrial power. He said that while competitors could overtake BASF in size, the group will direct its efforts toward value rather than defending a ranking.
The comments followed a close revenue comparison from last year. BASF reported group revenues of 59.7 billion ($68.9 billion), which were broadly neck and neck with the chemicals segment of Chinas Sinopec, which posted 464 billion yuan ($68.5 billion) in operating revenues.
Other large players were also highlighted in the discussion. U.S. rival Dow had $40 billion in 2025 sales, while PetroChinas refining, chemicals and new materials division reported combined sales of 1,078 billion yuan ($159.18 billion).
Kamieth also underscored the difficulties BASF faces in reducing greenhouse gas emissions in Europe. "The green transition is technically feasible. But making it economically viable is an incredibly challenging task," he said, flagging the economic obstacles tied to decarbonisation in the region.
The remarks come as BASF adjusts its strategic priorities amid upheavals across the chemical industry, an evolving global distribution of industrial capability, and clear pressures related to emissions reductions in Europe.
Context and implications
- BASF is reframing its objective from defending the top revenue ranking to prioritising value creation.
- Revenue figures from last year show BASF and Sinopecs chemicals segment at similar levels, while Dow and PetroChinas segments reported differing scales of sales.
- The CEO characterised the current business climate as unusually difficult and highlighted the economic challenge of the green transition in Europe.