SABIC Becomes The 2nd Most Valuable Brand In The Chemicals Industry
SABIC has become the world’s second most valuable brand in the chemicals industry for the first time, and it has also cemented its place among the top 500 most valuable global brands. The rankings were confirmed in the 2021 Chemicals 25 and Global 500 reports published by Brand Finance, a world-leading independent brand valuation consultancy.
Yousef Al-Benyan, SABIC Vice Chairman and CEO, said: “We are proud of our improved ranking. It is a significant step in our mission to become the preferred world leader in chemicals and reflects the ever-growing positive perception of SABIC among our customers and other stakeholders. It is a clear confirmation of the strategy we have defined to position SABIC as a leading global chemical brand.
Al-Benyan added: “Building a strong global brand is integral to our core objectives and aligns with our growth ambitions. It enables our business strategy and enhances our resilience. Our brand is important to us and our customers and stakeholders, and we will remain dedicated to delivering our Chemistry that Matters™.”
This year the Chemicals 25 report confirmed SABIC’s brand value to be US$ 4.017 billion, which represents a marginal softening versus 2020. The overall chemicals industry saw an eight percent decline in total brand value from the previous year, primarily due to the downturn in the global economy. In 2020, SABIC entered the second phase of its global brand campaign, further building on its successful launch in 2019. The campaign aligns with the company’s 2025 strategy and connects global audiences with the SABIC collaborations that enable sustainable solutions to some of the world’s most pressing challenges.
Brand Finance utilizes a bespoke methodology to determine the brand value of a company. Factors considered include stakeholder familiarity and satisfaction along with forecasted business performance.