Brand Finance logo

BASF Continues to React as the Most Valuable Chemicals Brand for a Decade

30 May 2024
Jump to Media Downloads
  • INEOS’s explosive growth: 23% increase in brand value to $1.7 billion
  • DuPont remains in its element as the strongest chemicals brand ranked
  • BASF has highest Sustainability Perceptions Value of USD773 million; Linde holds highest positive gap value of USD12 million

LONDON - 30 May 2024 – BASF has been named the most valuable chemicals brand for the tenth consecutive year, according to a new report by Brand Finance, the world’s leading brand valuation consultancy. BASF's brand value has increased by 11% to USD9.2 billion, reinforcing its dominant position in the industry and showcasing remarkable stability and leadership in the global chemicals sector.

Despite facing global economic challenges such as high inflation, energy costs, and supply chain disruptions, BASF has not only retained its title but also maintained a strong brand strength rating at AAA-. The slight drop in its Brand Strength Index (BSI) score by 1.6 points to 80.7 of 100 still positions BASF as the fourth-strongest chemicals brand in the rankings, highlighting its resilience and continued excellence in the eyes of many key stakeholders.

Global chemicals brands exhibited varied performances this year. Out of the 50 brands ranked, 25 saw an increase in their brand values. European and North American brands, including BASF, performed particularly well, managing to overcome significant market hurdles. In contrast, markets in the Asia-Pacific region, Africa, and the Middle East underperformed due to weakened exports and reduced foreign investments in China. However, brands in these regions displayed commendable resilience, capitalising on strong domestic demand and lower energy costs to maintain their growth trajectories.

Noteworthy performances include INEOS, which recorded a remarkable 23% growth in brand value, reaching USD1.7 billion and climbing six ranks to the 15th spot. INEOS also saw its BSI score increase by 1.7 points to 64.9 of 100, earning a brand strength rating of AA-.

DuPont remains a formidable player in the industry, retaining its position as the strongest chemicals brand with a 1% increase in brand value to USD1.9 billion. It is closely followed by LG Chem, which despite a 7% decrease in brand value to USD4.2 billion, maintained its ranking as the second-strongest chemicals brand.

David Haigh, Chairman of Brand Finance commented:

“As the chemicals sector navigates challenging economic impacts, Brand Finance’s research highlights the remarkable resilience and innovation of Chinese chemical brands, which have achieved a combined brand value growth of 67%. Supported by robust government policies and a strong supply chain, these brands are at the forefront of the green transition, investing heavily in sustainable solutions and reshaping both industries and global brand perceptions in the process.”

Brand Finance also utilises its Global Brand Equity Monitor (GBEM) research to compile a Sustainability Perceptions Index. The study determines the role of sustainability in driving brand consideration across sectors and offers insight into which brands global consumers believe to be most committed to sustainability.

For individual brands, the Index displays the proportion of brand value attributable to sustainability perceptions. This Sustainability Perceptions Value is the financial value contingent on a brand’s reputation for acting sustainably. From here, Brand Finance’s perceptual research is analysed alongside CSRHub’s environmental, social and governance performance data to determine a brand’s ‘gap value’. This is the value at risk or to be gained, based on the difference between sustainability perceptions and actual performance.

The 2024 Sustainability Perceptions Index finds that in the chemicals sector, BASF has the highest Sustainability Perceptions Value of USD773 million. Meanwhile, Linde has the highest positive gap value of USD12 million among brands in the rankings. A positive gap value means that brand sustainability performance is stronger than perceived: brands can add value through enhanced communication about their sustainability efforts, so that perceptions are raised to fully account for the brand’s actual sustainability performance. Linde’s gap value suggests that it could generate an additional USD12 million in potential value through enhanced communication of its impact and accomplishments in sustainability.

Media Downloads

These images may be downloaded and used for publication. Please attribute to Brand Finance.
Copyright © 2024 Brand Finance. All rights reserved.

Media Contacts

Penny Erricker
Communications Executive
Brand Finance

About Brand Finance

Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance for more than 25 years, Brand Finance evaluates the strength of brands and quantifies their financial value to help organizations of all kinds make strategic decisions.

Headquartered in London, Brand Finance has offices in over 20 countries, offering services on all continents. Every year, Brand Finance conducts more than 5,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.

Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on over 5,000 brands, surveying more than 150,000 respondents across 38 countries and 31 industry sectors. Combining perceptual data from the Global Brand Equity Monitor with data from its valuation database enables Brand Finance to arm brand leaders with the data and analytics they need to enhance brand and business value.

Brand Finance is a regulated accountancy firm, leading the standardization of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.

Definition of Brand

Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.

Brand Strength

Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.

Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.

Brand Valuation Approach

Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.

The steps in this process are as follows:

1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.

2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.

3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.

4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.

5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.

6 Apply the royalty rate to the forecast revenues to derive brand revenues.

7 Discount post-tax brand revenues to a net present value which equals the brand value.


Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.

The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.

Get in Touch