This article was originally published in the Brand Finance Chemicals 50 2025 report.
Established in 1995 and headquartered in Hangzhou, Zhejiang Province, Rongsheng Petrochemical has emerged as a powerhouse in China’s private petrochemical sector. With a fully integrated industrial chain spanning oil refining, aromatics, olefins, polyester, and new energy materials, Rongsheng exemplifies the evolution of a traditional chemical enterprise into a forward-looking innovation leader. The company continues to prioritise technological advancement, funnelling significant investment into R&D and the development of cutting-edge products. Leveraging its large-scale production hubs, including the prominent Zhejiang Petrochemical complex, Rongsheng is actively accelerating its footprint in strategic growth areas such as high-end polyolefins and new energy materials—solidifying its role as a key player in the global chemical value chain.
Driving strategic transformation and advancing high-end development
As the global petrochemical industry undergoes rapid transformation, Rongsheng Petrochemical is proactively embracing change through its "reduce oil, increase chemicals" strategy—shifting focus from traditional refining towards high-value-added chemical production. In a bold step forward, 2024 saw the launch of the Jintang New Materials Project, a massive initiative with an investment of CNY67.5 billion. The project centers on low-carbon olefins and environmentally friendly technologies, encompassing 27 major production units and 16 supporting infrastructure projects.
In parallel, Rongsheng strengthened its international partnerships by signing a framework agreement for mutual equity investment with energy titan Saudi Aramco. The agreement aims to establish cross shareholding between Rongsheng’s wholly owned Zhongjin Petrochemical and Aramco’s Jubail Refining & Chemical Company, while jointly promoting the SASREF expansion project focused on downstream, high-value chemical products. These moves significantly boost Rongsheng’s global competitiveness and market presence.
Further reinforcing its commitment to innovation, Rongsheng has established the Zhejiang Shenghui New Materials Company, targeting emerging fields such as bio-based materials and graphene composite fibers. This move extends the company’s industrial value chain into high-performance and new energy materials and marks a decisive step into the future of sustainable petrochemicals.
Rising brand value and growing global influence
In 2025, Rongsheng Petrochemical continued its upward trajectory with a 6% year-on-year increase in brand value, securing 5th position amongst the world’s top 50 chemicals brands—one spot higher than the previous year. Since the brand’s first valuation in 2020 where is ranked 18th, Rongsheng’s ranking has been on the ascent, achieving a remarkable compound annual growth rate of 18%. This sustained rise not only reflects the company’s robust performance and strategic foresight but also positions Rongsheng as one of the fastest-growing brands in the global chemicals industry, reinforcing its expanding influence on the international stage.
ESG leadership and commitment to green development
Rongsheng Petrochemical has made significant strides in advancing its Environmental, Social and Governance (ESG) performance, with its MSCI ESG rating upgraded from B to BBB, positioning it among the leading players in the global petrochemical industry. The company is actively deploying Carbon Capture, Utilisation and Storage (CCUS) technologies and implementing low-energy production processes, building a comprehensive green manufacturing system that spans the entire product life cycle. Additionally, Rongsheng has become a pioneer in the sector by achieving full-process automation in polyester production, setting a new industry benchmark for sustainable innovation in green chemistry.
A new chapter in brand empowerment
Building on its dual-engine strategy of "technological innovation and brand empowerment”, Rongsheng is advancing its global brand presence with renewed focus. By leveraging breakthroughs in the development of high-end chemical materials and low-carbon transformation practices, it continues to elevate the international profile of "Rongsheng Intelligent Manufacturing" through a differentiated product portfolio and green technology certifications.
As the global refining and chemicals sector shifts towards competition driven by existing capacity, the company’s core strengths in scale, integration and sustainable development are set to further solidify its leadership on the world stage and contribute powerful momentum to the high-quality growth of China’s petrochemical industry.
