Top Chemicals Companies in Vietnam

The chemical industry is an essential sector of Vietnam's economy, contributing to the country's growth and development. In 2022, Vietnam's GDP growth rate reached 6.5%, with the chemical industry playing a significant role in the country's economic success. In this article, we will delve into the key statistics, success factors, growth trends, challenges, and future outlook of the chemical industry in Vietnam.

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AIR LIQUIDE37,310 +65 3163 9392

A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 73 countries with approximately 67,100 employees and serves more than 3.9 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902. Taking action today while preparing the future is at the heart of Air Liquide’s strategy. With ADVANCE, its strategic plan for 2025, Air Liquide is targeting a global performance, combining financial and extra-financial dimensions. Positioned on new markets, the Group benefits from major assets such as its business model combining resilience and strength, its ability to innovate and its technological expertise. The Group develops solutions contributing to climate and the energy transition—particularly with hydrogen—and takes action to progress in areas of healthcare, digital and high technologies. Air Liquide’s revenue amounted to more than 29.9 billion euros in 2022. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX 50, FTSE4Good and DJSI Europe indexes.

TESA3,544 +65 6697 9888

As a multinational company, tesa develops innovative adhesive tapes and self-adhesive product solutions for various industries, commercial customers, and end consumers. There are already more than 7,000 tesa adhesive solutions that help improve the work, products, or lives of our customers. Today, the focus is on sustainability and energy-saving processes. tesa invests in the development of environmentally friendly products and solvent-free manufacture processes as well as in the use of renewable energy sources at its locations.tesa is active in 100 countries and operates plants in Germany, Italy, China, the USA, and soon also in Vietnam. Around three quarters of the tesa Group’s sales (2022: EUR 1.7 billion euro) are generated by applications for industries. Together with its international clients, tesa develops innovations that are customized at product and process level. Already more than 130 tesa tapes may be installed in an electric car and over 70 in a smartphone. In the printing and construction industries, too, tesa is constantly penetrating new segments and countries with its special adhesive tapes. The company generates almost one quarter of its sales with products for end consumers and professional craftsmen. 300 applications, such as the legendary tesafilm®, make life easier or, when it comes to insect protection, even make it a bit more pleasant. tesa counts among the world’s leading manufacturers of adhesive solutions. Since 2001, tesa SE is an independent 100% affiliate of Beiersdorf AG (i.e., NIVEA, Eucerin, la prairie) with approx. 5.000 employees today.Imprint: https://www.tesa.com/en/about-tesa/legal-information/imprintPrivacy Policy: https://www.tesa.com/en/about-tesa/legal-information/privacy-policy-for-social-media

HEMPEL A/S3,278 +65 6799 8383

As a world-leading supplier of trusted coating solutions, Hempel is a global company with strong values, working with customers in the decorative, marine, infrastructure and energy industries. Hempel factories, R&D centres and stock points are established in every region.Hempel’s paints and coatings protect and beautify buildings, infrastructure and other assets, and play an essential role in our customers’ businesses. They help minimise maintenance costs, improve aesthetics and increase energy efficiency.At Hempel, our purpose is to shape a brighter future with sustainable coating solutions. We firmly believe that we will succeed as a business only if we place sustainability at our heart. Not only is it the right thing to do, it will strengthen our competitive position, make ourselves more resilient and reduce our risk.Hempel was founded in Copenhagen, Denmark in 1915. It is proudly owned by the Hempel Foundation, which ensures a solid economic base for the Hempel Group and supports cultural, social, humanitarian and scientific purposes around the world.

BASF62,914 +65 6398 5000

At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 111,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio comprises six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €87.3 billion in 2022. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the United States. Credits: https://www.basf.com/en/tools/legal/credits.htmlData protection information: https://www.basf.com/global/en/legal/data-protection-at-basf.html

DSM16,218 +65 6632 6500

DSM, since May 9 2023 part of dsm-firmenich, is a global, purpose-led leader in health and nutrition, applying bioscience to improve the health of people, animals, and the planet. DSM’s purpose is to create brighter lives for all which we achieve through developing products and solutions that address some of the world’s biggest challenges while simultaneously creating economic, environmental and societal value.From our master perfumers and flavorists to our expert nutritionists and scientists, our trailblazing teams work closely with customers, supporting their ambitions with 150+ years of R&D expertise. With a passionate and talented team of close to 30,000 employees, we are determined to be a force for good. And to work together to positively impact people and planet. #webringprogresstolife

EVONIK12,973 +65 6809 6666

Evonik is one of the world’s leading specialty chemicals companies. While we don’t produce electric cars, aircraft, medications or 3D printers, Evonik is part and parcel of these and many other end products. That’s because we contribute the small things that make a big difference. We make electric car batteries perform better, aircraft greener, medications more effective and 3D printers more efficient. In short: We think beyond the bounds of chemistry to make the world a better place. Today and tomorrow. We are an international group with a workforce of over 32,000 people spread across more than one hundred locations. Our daily work is shaped by global concerns, such as sustainability, diversity and digitalization. In all our business decisions, we take the present and future generations into consideration. After all, being ready for tomorrow is our business. Interested in joining our global team? Our wide range of opportunities extends from creative and innovative research through international management all the way to production. Whether you’re studying, starting out in your career or a seasoned professional, come help us make the world a better place. For more information about careers at Evonik, go to:www.careers.evonik.com. #HumanChemistryFind our netiquette on: www.evonik.com/netiquette

FMC CORPORATION9,672 +65 8607 0545

FMC is an agricultural sciences company that advances farming through innovative and sustainable crop protection technologies. From our industry leading discovery pipeline, to unique application systems, to modern biological products, we are passionate about bringing new solutions to growers around the world.For more than 130 years, we’ve been rooted in agriculture and innovation. Today’s FMC continues to earn the trust of growers and industry partners to maximize their productivity, profitability and sustainability.All trademarks, service marks and logos are the property of their respective owners in the U.S. and/or other countries.

BOSTIK3,483 +65 6419 9161

For over 125 years, Bostik, the adhesive solutions segment of Arkema, has been a leading global adhesive specialist in industrial, construction and consumer markets. With a presence in more than 40 countries and employing 7,000 people, Bostik’s broad technology portfolio, extensive industry knowledge and synergies with Arkema enable our company to meet a diverse range of customers’ evolving needs around the world. For the industrial market, Bostik’s smart solutions are found in today’s leading aerospace, transportation and packaging brands, improving operational efficiencies and overall product quality. Additionally, we offer innovative, safe and sustainable adhesives that meet industry regulations and reduce production downtime, saving customers time and money.Furthermore, Bostik’s construction market adhesives are used globally in residential and commercial construction projects. Formulated to withstand the harshest environmental conditions, these products have received industry validations and offer best-in-class warranties. Working directly with customers, Bostik tailors our solutions for various interior and exterior applications, improving building longevity and durability. In addition, our adhesives for consumer applications offer the ease-of-use people need with the professional quality results they demand. As a result, Bostik has received recognition around the world for our smart, dynamic solutions that solve issues and address otherwise unmet needs. From wallpaper paste to diapers, our company’s adhesives are fast, safe, efficient and high-performing, enabling them to stand out in today’s ever-changing world.

BOROUGE2,639 +65 6275 4100

Founded in 1998 through a strategic partnership between ADNOC and Borealis, Borouge was formed to build and operate a petrochemical complex in Al Ruways, United Arab Emirates, with a sales and marketing business in Singapore.Borouge, listed on the Abu Dhabi Securities Exchange (ADX symbol “BOROUGE” / ISIN “AEE01072B225”), is a leading petrochemical company that provides innovative and differentiated polyolefin solutions. ADNOC owns a majority 54% stake and Borealis holds a 36% stake in Borouge.With its base in the United Arab Emirates and Marketing & Sales head office in Singapore, Borouge employs more than 3,000 people representing over 40 nationalities and serves customers in 50 countries across the Middle East, Asia and Africa.Building on the unique Borstar® and Borlink™ technologies and over 50 years of experience in polyolefins, Borouge provides innovative, sustainable and value creating polymer solutions for packaging, infrastructure, energy, mobility, agriculture and healthcare applications that address global challenges such as climate change, food protection, access to fresh water, energy conservation, healthcare and waste management. In 2014 Borouge successfully commissioned its Borouge 3 expansion plant, increasing the Company’s annual capacity to 4.5 million tonnes of polyethylene and polypropylene and making Borouge’s site in Ruwais, UAE, the world’s largest integrated polyolefins complex. Borouge has expanded its commercial and logistics network in the Middle East and Asia, established a world-class Innovation Centre in Abu Dhabi and expanded its Application Centre in Shanghai. Focused on its mission, ‘value creation through people and innovation’, Borouge ensures that its customers are provided with differentiated products with improved reliability of supply throughout the value chain.Borouge is committed to the principles of sustainability and is a signatory of the chemical industry’s Responsible Care® Global Charter.

GIVAUDAN12,491 +65 6826 6900

Givaudan is a global leader in fragrance & beauty and taste & wellbeing. We celebrate the beauty of human experience by creating for happier, healthier lives with love for nature. Together with our customers we deliver food experiences, craft inspired fragrances, and develop beauty and wellbeing solutions that make people look and feel good.With over 185 locations in 52 countries and over 79 production sites, of which 31 are located in Europe, 13 in North America, 9 in Latin America, 17 in Asia-Pacific, and 9 across South Asia, the Middle East, and Africa, we are committed to driving purpose-led growth that makes a positive impact. Givaudan: Human by nature.www.givaudan.com

KEVA - FRAGRANCES, FLAVOURS & AROMA INGREDIENTS567 +65 6841 6106

Keva is a leading player in the fragrance and flavour industry headquartered in India, with a global footprint in the Netherlands, Singapore, Indonesia and Thailand catering to the diverse and unique needs of 5000 + strong global clientele. Our sales infrastructure covers customers across 50 nations including India, South East Asia, China, Japan, Africa, America and Europe.We combine a deep rooted flair for the art of creating, with a thoroughly researched understanding of sensory trends. Our state of the art manufacturing facilities spread across Maharashtra and Gujarat in India, Barneveld in The Netherlands and Taihe in China gives us equal access to both developed and emerging markets and cater local and multinational clients with ease.At Keva, we continuously strive to craft creative breakthrough by our Creative Development Centres operating from India, Amsterdam, Singapore and Indonesia. This facilitates cross pollination of ideas, where talent from different countries work together to offer more vibrant set of solutions for our clients.We nurture talent and augment our people capabilities under the purview of a strong leadership team bringing in years of experience with diverse expertise knowledge from different industries. Staying true to the fundamental, living by the values - SPIRIT of Keva, professional leadership, future geared organization structure and strong Governance Framework in a technology enabled environment are the enablers of our growth.Some of the accolades:1. 26th rank in Dream Companies To Work For - 20182. 2nd in outstanding export performance for the Financial Year 2016 –2017 by CHEMEXCIL (Basic Chemicals, Cosmetics & Dyes Export Promotion Council) set up by the Ministry of Commerce & Industry 3. Outstanding Corporate Partner Award 2017 by NASEOH (National Society For Equal Opportunities for the Handicapped)4. Excellence for Bias for Action 2017 by Marico

NUFARM1,950 +65 6227 5575

Nufarm is the trusted global partner behind thousands of agricultural success stories. Working side by side with advisors and distributors, we help farmers grow a better tomorrow.For more than 100 years we’ve been finding more effective ways to fight disease, weeds and pests to protect and improve crop yields. Today, we are one of the world’s leading developers and manufacturers of crop protection solutions and seed technologies. We’re known for our service and hands-on support, working with distributors to give farmers the right product for the job so they get more from their land.Our crop protection footprint spans key global agricultural markets with a focus on North America, Europe and Asia Pacific. Nufarm is listed on the Australian Securities Exchange (symbol NUF) and our head office is in Melbourne, Australia.

SABIC33,398 +65 6210 4100

SABIC is a global leader in chemicals headquartered in Riyadh, Saudi Arabia. From making cars and planes more fuel-efficient, to helping conserve the world’s water supply and enabling colorful smartphone cases, we find solutions to the challenges of today to help our customers achieve their ambitions and build a better tomorrow.We support our customers by identifying and developing opportunities in key end markets such as electrical and electronics, transportation, medical devices, construction, packaging, agri-nutrients and clean energy.SABIC has more than 33,000 employees worldwide and operates in more than 50 countries. Fostering innovation and a spirit of ingenuity, we have about 12,500 global patent filings, and have significant research resources with innovation hubs in five key geographies – USA, Europe, Middle East, North East Asia and South East Asia.At SABIC, we combine a rich track record of doing what others said couldn’t be done, with a deep understanding of our customers. But our true impact is as a partner who can help our customers achieve their ambitions by finding solutions to their challenges. We call this ‘Chemistry that Matters™’.

THE LUBRIZOL CORPORATION6,084 +65 6264 1644

The Lubrizol Corporation, a Berkshire Hathaway company, is committed to enabling a sustainable future. Our unmatched science unlocks immense possibilities at the molecular level, driving sustainable and measurable results to help the world Move Cleaner, Create Smarter and Live Better. Our solutions are used by people every day, improving billions of lives around the world.Founded in 1928, Lubrizol owns and operates more than 100 manufacturing facilities, sales and technical offices around the world and has approximately 8,800 employees.

WACKER4,420 +65 6542 6638

We are a leading player and one of the world’s most research-intensive chemical companies. Our range of highly developed specialty products extends from silicones and polymeric binders and additives for a number of different industrial sectors, to bio-engineered pharmaceutical actives (biologics), and hyperpure silicon for semiconductor and solar applications. As a technology leader focused on sustainability, we promote innovations with high value-added potential. Our goal is to ensure a better quality of life for you and future generations – through health care, energy efficiency and protection of the climate and environment. Disclaimer: http://bit.ly/li-disclaimer

SOLVAY19,091 +65 6291 1921

Solvay is a science company whose technologies deliver benefits to many aspects of daily life. Our purpose is to bond people, ideas and elements to reinvent progress. The Groups innovative solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices, health care applications, water and air purification systems. We seek to create sustainable shared value for all through Solvay One Planet, an initiative crafted around three pillars -- protecting the climate, preserving resources and fostering better life. Founded in 1863, we continue walking in Ernest Solvay’s footsteps and today the Group ranks among the world’s top three companies for the vast majority of its activities.Interested in a career at Solvay? We want to hear from you! To ensure data privacy, only Solvay applications submitted through our career portal or Linkedin jobs will be considered for open positions.

LINDE36,071 +65 6866 3100

Linde is a leading global industrial gases and engineering company with 2022 sales of $33 billion. We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain, decarbonize and protect our planet. The company serves a variety of end markets including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Lindes industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.For more information about the company and its products and services, please visit www.linde.com.Visit our careers website www.lindecareers.com to take the next steps in your career with us.Legal Notice: https://www.linde.com/en/imprintData Protection: https://dataprotection.linde.com/en/index.html

EASTMAN10,451 +65 1800 937 5449

Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The companys innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,000 people around the world and serves customers in more than 100 countries. The company had 2021 revenues of approximately $10.5 billion and is headquartered in Kingsport, Tennessee, USA.

AIR PRODUCTS14,506 +65 800 654 4567

Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products’ base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, and food. The Company also develops, engineers, builds, owns and operates some of the worlds largest industrial gas and carbon-capture projects, supplying world-scale clean hydrogen for global transportation, industrial markets, and the broader energy transition. Additionally, Air Products is the world leader in the supply of liquefied natural gas process technology and equipment, and globally provides turbomachinery, membrane systems and cryogenic containers.The Company had fiscal 2022 sales of $12.7 billion from operations in over 50 countries and has a current market capitalization of about $55 billion. More than 21,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products’ higher purpose to create innovative solutions that benefit the environment, enhance sustainability and reimagine whats possible to address the challenges facing customers, communities, and the world. For more information, visit airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram.

CLARIANT9,299 +65 6563 0288

As one of the world’s leading specialty chemical companies and led by its purpose Greater chemistry - between people and planet, Clariant contributes to value creation with innovative and sustainable solutions for customers from many industries. Our portfolio is designed to meet very specific needs with as much precision as possible. At the same time, our research and development is focused on addressing the key trends of our time. These include energy efficiency, renewable raw materials, emission-free mobility, and conserving finite resources. Whether in the lab, working in communications, recruiting new co-workers, or working on business strategy, we welcome all innovators and self-starters who like being challenged, who think out-of-the-box, who like working in an international environment, and who constantly strive to excel in his or her field. At Clariant youll have the freedom to make a global impact -- with 11148 colleagues and a vast global network.Join the conversation on Facebook.com/ClariantInternational/Follow us on Twitter.com/ClariantLearn more about us on YouTube.com/ClariantcomCheck us out on Instagram.com/clariant_international/

Top Chemicals Companies in Vietnam

Key Statistics from 2022

The chemical industry in Vietnam has experienced robust growth in recent years. According to the General Statistics Office of Vietnam, the industry's revenue reached $21.6 billion in 2022, accounting for 5.8% of the country's total export revenue. Additionally, the sector employed over 250,000 people in 2022, making it one of the largest employers in Vietnam. The chemical industry's growth has been fueled by various sectors, including petrochemicals, fertilizers, and plastics.

Factors Contributing to the Industry's Growth and Success

Government initiatives have played a crucial role in the growth and success of the chemical industry in Vietnam. The government has provided support to the industry through various measures, such as investment incentives, tax breaks, and the development of infrastructure. Additionally, the government has implemented reforms to improve the business environment and attract foreign investment.

Moreover, Vietnam has signed various trade agreements with other countries, providing access to new markets and boosting investment. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA) are two significant agreements that have enabled Vietnam to expand its investment opportunities and increase revenue.

Each Industry's Growth and Comparison to Previous Years

The chemical industry in Vietnam includes various subsectors, such as petrochemicals, fertilizers, and plastics. In 2022, the petrochemical industry accounted for 65% of the industry's total revenue, while the fertilizer industry accounted for 17% and the plastics industry accounted for 13%. Compared to 2021, the industry's revenue grew by 5%, indicating a significant improvement.

Key Trends in the Industry

Technological disruptions have been a game-changer for the chemical industry in Vietnam. The industry has embraced digitalization, automation, and other technological advancements to increase efficiency, reduce costs, and improve product quality. Moreover, the industry has adopted sustainable practices, such as reducing waste, recycling, and using eco-friendly materials, to minimize the impact on the environment.

Additionally, the industry has focused on innovation and research and development to create new products and meet the changing needs of customers. The adoption of new technologies, such as 3D printing, presents opportunities for the industry to offer customized products and enhance its competitiveness.

Challenges Facing the Industry

The chemical industry in Vietnam faces various challenges, such as environmental regulations, limited domestic supply chains, and competition from other countries. Environmental regulations can be a significant challenge for the industry, with the need to comply with strict environmental standards to reduce its impact on the environment.

Moreover, the limited domestic supply chain can be a significant obstacle to the industry's growth. Therefore, the industry needs to invest in infrastructure, develop local suppliers, and collaborate with universities and vocational schools to develop skilled workers.

Future Outlook

To maintain its growth trajectory, the chemical industry in Vietnam needs to focus on developing a strong domestic supply chain, investing in research and development, and embracing technological disruptions. The industry can leverage government incentives and favorable trade agreements to attract foreign investment and expand its export markets. Furthermore, investing in sustainable practices, such as reducing waste and using eco-friendly materials, will drive the industry's growth and competitiveness.

Moreover, the industry needs to focus on innovation and research and development to stay competitive in the global market. The adoption of new technologies, such as automation and 3D printing, presents opportunities for the industry to enhance its efficiency, reduce costs, and offer customized products.

The potential for circular economy principles presents an opportunity for the chemical industry in Vietnam. By adopting circular economy principles, the industry can minimize its waste and environmental impact while also reducing costs and enhancing its reputation as a responsible and sustainable industry.

Conclusion

In conclusion, the chemical industry is a critical sector of Vietnam's economy, and the government's support and favorable trade policies have been instrumental in its growth and success. The industry's future outlook is positive, with opportunities for growth and innovation, particularly in the adoption of sustainable practices and the development of circular economy principles. However, the industry must address the challenges it faces to sustain its growth and ensure its long-term viability.

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By Melissa Goh
Published on 31 May 2023