BASF is top brand in the chemical industry

Valued at $8.3 billion,BASF’s brand is the most valuable in the chemical industry, according to a report by the consulting firm Brand Finance. The brand’s value has risen 15% in the past year, thanks to BASF’s improved revenue forecast and a reduction in its cost of capital. This is despite the firm’s loss of assets associated with Russia’s war in Ukraine, Brand Finance says. BASF’s brand value was followed by those of Sabic, LG Chem, Dow, and Linde. The leading Japanese chemical brand—the world’s seventh-most valuable—is Asahi Kasei, at $2.3 billion. “As the world looks to a post-COVID future, chemical industry brands, led by BASF, are benefiting from strong demand for their products,” Brand Finance CEO David Haigh says in a statement. The fastest-rising brand is the Chinese firm Rongsheng Petrochemical, whose value increased 43%, to $2.3 billion, moving it into 8th position from 10th a year ago. Brand Finance rated DuPont the strongest, as opposed to most valuable,chemical brand—boosted in the past year by an improved reputation for corporate social responsibility in industries and communities in which it operates.