According to the 2023 annual ranking by ICIS, PGPIC climbed nine positions to rank 18th globally, achieving this milestone on the back of strong financial performance that also saw it outperform Saudi Arabia’s SABIC in both net and operating profits — a rare achievement in the Middle East's highly competitive petrochemical sector.
The company reported $17.34 billion in revenue, a 3.7% year-on-year increase, along with $3.053 billion in net profit, ranking third globally. It also secured fourth place in operating profit with $3.040 billion, reflecting a 3.6% increase over the previous year.
By contrast, SABIC saw its operating profit fall sharply by 83.8% to just $992 million, and it reported a net loss of $739 million, placing it significantly lower than PGPIC in the global rankings.
PGPIC’s ascent from 37th place in 2021 to 18th in 2023 marks not only its best-ever global ranking but also the highest position ever achieved by an Iranian company in the ICIS Top 100 list.
This achievement comes amid broader efforts by Iranian industry leaders to assert greater influence in the global petrochemical market, despite international sanctions and geopolitical headwinds.