Page 168 - CW E-Magazine (11-6-2024)

News from Abroad

BRAND VALUATION
BASF remains “most valuable chemicals brand”; Ineos,

DuPont, Linde also shine

Germany’s BASF has been named Pacifi c region, Africa, and the Middle the green transition, investing heavily in
the most valuable chemicals brand for East underperformed due to weakened sustainable solutions and reshaping both
the tenth consecutive year, according to exports and reduced foreign investments industries and global brand perceptions in
a new report by Brand Finance, a leading in China. However, brands in these re- the process.”
brand valuation consultancy. The report gions displayed commendable resilience,
said BASF’s brand value has increased by capitalising on strong domestic demand Sustainability perception
11% to $9.2-bn, reinforcing its dominant and lower energy costs to maintain their Brand Finance also utilises its Global
position in the industry and showcasing growth trajectories. Brand Equity Monitor (GBEM) research
remarkable stability and leadership in the to compile a ‘Sust ainability Perceptions
global chemicals sector. Noteworthy performances include Index’. The study determines the role of
Ineos, which recorded a remarkable 23% sustainability in driving brand considera-
Despite facing global economic growth in brand value, reaching $1.7-bn tion across sectors and offers insight into
challenges such as high infl ation, energy and climbing six ranks to the 15th spot. which brands global consumers believe
costs, and supply chain disruptions, Ineos also saw its BSI score increase by to be most committed to sustainability.
BASF managed to retain its title and also 1.7 points to 64.9 of 100, earning a brand
maintained a strong brand strength rating strength rating of ‘AA-’. The ‘2024 Sustainability Perceptions
at ‘AAA-’. The slight drop in its Brand Index’ fi nds that in the chemicals sector,
Strength Index (BSI) score by 1.6 points The report noted DuPont remaining BASF has the highest ‘Sustainability
to 80.7 of 100 still positions BASF as the a formidable player in the industry, with Perceptions Value’ of $773-mn. Mean-
fourth-strongest chemicals brand in the a 1% increase in brand value to $1.9-bn. while, Linde has the highest positive
rankings, highlighting its resilience and It is closely followed by LG Chem, with gap value of $12-mn among brands in
continued excellence in the eyes of many a 7% decrease in brand value to $4.2-bn. the rankings. A positive gap value means
key stakeholders. that brand sustainability performance is
Mr. David Haigh, Chairman of Brand stronger than perceived: brands can add
Global chemicals brands exhibited Finance commented, “As the chemicals value through enhanced communication
varied performances this year. Out of the sector navigates challenging economic about their sustainability efforts, so that
50 brands ranked, 25 saw an increase in impacts, Brand Finance’s research high- perceptions are raised to fully account for
their brand values. European and North lights the remarkable resilience and inno- the brand’s actual sustainability perfor-
American brands, including BASF, per- vation of Chinese chemical brands, which mance. Linde’s gap value suggests that
formed particularly well, managing to have achieved a combined brand value it could generate an additional $12-mn in
overcome signifi cant market hurdles. growth of 67%. Supported by robust potential value through enhanced com-
government policies and a strong supply munication of its impact and accomplish-
In contrast, markets in the Asia- chain, these brands are at the forefront of ments in sustainability.
QatarEnergy signs urea supply agreement with

Koch Fertiliser

QatarEnergy, the state-owned energy Fertilizer. Under this agreement, urea of in North America, Trinidad & Tobago,
fi rm, has signed a long-term urea sup- Qatari origin will be supplied into the and Morocco. Qatar is the world’s sec-
ply agreement with Koch Fertilizer, a agricultural sectors of the US and other ond largest global exporter of urea, with
US-based fertiliser producer and sup- international markets. QatarEnergy’s affi liate, Qatar Fertilizer
plier. The 15-year supply agreement, Company (QAFCO) being the world’s
starting July 2024, stipulates the supply Koch Fertilizer is a subsidiary of largest integrated single-site producer
of up to 0.74-mtpa of urea to Koch Koch Industries with fertiliser plants of urea and ammonia.

168 Chemical Weekly June 11, 2024

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