Key facts
- BASF CEO Markus Kamieth announced a strategic shift towards value creation over revenue size.
- Kamieth stated that BASF may no longer be the largest chemical company by revenue but aims to remain one of the most valuable.
- He described the current global business environment as the most challenging in at least 25 years.
- BASF's 2023 revenues were €59.7 billion, closely trailing Sinopec's chemical segment revenue of $68.5 billion.
- Kamieth noted the significant economic challenges in making the green transition viable in Europe.
BASF, a leading global chemical company, is shifting its strategic focus from maintaining its top revenue rank to prioritizing value creation. CEO Markus Kamieth announced this change, citing unprecedented industry upheavals and a challenging business environment that he described as the most difficult in at least 25 years.
Kamieth indicated that while BASF may be surpassed in sheer size by competitors, it aims to remain one of the most valuable companies in the sector. Last year, BASF's revenues of €59.7 billion ($68.9 billion) were nearly on par with China's Sinopec, whose chemical segment reported 464 billion yuan ($68.5 billion) in operating revenues. U.S. rival Dow reported $40 billion in 2025 sales, and PetroChina's relevant division had combined sales of 1,078 billion yuan ($159.18 billion).
A significant challenge highlighted by Kamieth is the economic viability of reducing greenhouse gas emissions in Europe. He stated that while the green transition is technically feasible, making it economically sustainable is an incredibly difficult task.