Company Research Report: BASF Corporation
Company Overview
- Name: BASF Corporation
- Mission: At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility.
- Founded: BASF SE (parent company) was founded in 1865.
- Key People:
- Dr. Markus Kamieth, Chairman of the Board of Executive Directors, BASF SE
- Dr. Stephan Kothrade, Member of the Board of Executive Directors and Chief Technology Officer (CTO), BASF SE
- Marc Ehrhardt, President, BASF North America
- Headquarters: Florham Park, New Jersey, USA
- Number of Employees: Approximately 16,000 in North America, roughly 112,000 globally in the BASF Group.
- Revenue: $20.5 billion in North America (2023); €68.9 billion globally (2023).
- Notable: BASF is a globally leading chemical company, recognized for combining economic success with environmental protection and social responsibility. Their strategy emphasizes sustainability, innovation, and green transformation in operations and product portfolios.
Products
BASF's portfolio is diverse and caters to several industries. The primary segments include:
- Chemicals
- Materials
- Industrial Solutions
- Surface Technologies
- Nutrition & Care
- Agricultural Solutions
High-Level Product Descriptions
1. Chemicals:
- Offering a wide variety of base chemicals as well as intermediates for consumer and industrial applications.
2. Materials:
- Engineering plastics, polyurethane solutions, and specialty materials.
3. Industrial Solutions:
- Functional chemicals and solutions for a wide range of industries such as paper, water, oil and gas, mining, and more.
4. Surface Technologies:
- Catalysts, coatings, and surface treatment products contributing to resource efficiency and enhanced quality.
5. Nutrition & Care:
- Ingredients for personal care, home care, hygiene, and the health industries.
6. Agricultural Solutions:
- Products and solutions focusing on agricultural productivity and sustainability.
Recent Developments
New Products and Innovations
- 2023 Edison Patent Award:
- BASF’s Process Catalysts research team received this award for a novel adsorbent which focuses on reducing impurities in petrochemical processing streams.
- Apprenticeship Program Expansion:
- BASF’s North American Apprenticeship Development Program expanded to 28 regional manufacturing sites in 2023, creating career paths in modern manufacturing sectors.
Partnerships
- Sustainable Production of Ingredients:
- BASF partnered with Acies Bio to develop fermentation technology on methanol for producing fatty alcohols—key components in home and personal care products.
Sustainability Initiatives
- ChemCycling Project:
- BASF is advancing its ChemCycling project, which recycles plastic waste into new chemical products, promoting a circular plastics economy.
- Green Energy Projects:
- Cooperation with RWE for a project idea that aligns industrial production with sustainable energy goals, involving the establishment of an offshore wind farm for green electricity supply.
Financial Developments
- Q3 2024 Earnings Report:
- BASF Group’s EBITDA before special items increased by €77 million in the third quarter, driven by significant contributions from core businesses despite earnings decline in standalone segments.
Community and Employment
- Employee Development:
- Focused on increasing women in manufacturing roles through support of the Women MAKE America Initiative, contributing to a balanced workforce.
This concludes the BASF Corporation market research report, offering a comprehensive view into the company's operations, recent developments, and strategic initiatives aimed at sustainability and innovation driving future growth.
