Axel Barrett History

Who is Sabic?

Let's have a look at who Sabic is. The complete history and all you need to know about Sabic including their circular economy and bioplastics portfolio.

In Short

Sabic stands for Saudi Basic Industries Corporation and is a subsidiary of Saudi Aramco. Sabic’s motto: Chemistry that Matters. Sabic is in the top 5 largest chemical producers in general and specifically for polyethylene, polypropylene and ethylene glycol.


1976 – SABIC is created by royal decree as a public company based in Riyadh (Saudi Arabia) to use by-products of oil extraction to produce chemicals, polymers and fertilizers. 70% of Sabic is owned by the Saudi Arabian government (Public Investment Fund of Saudi Arabia). The remaining 30% are publicly traded on the Saudi stock exchange.

2006 – SABIC established the “SABIC Sukuk Company” to issue Islamic bonds, Sharia compliant bonds (Sukuk).

2015 – Restructuring; eventually leading to four strategic business units – Petrochemicals, Specialties, Agri-Nutrients, and Metals.

2019 – Saudi Aramco signs an agreement to buy the 70% of Sabic owned by the Public Investment Fund of Saudi Arabia. Transaction is worth $69.1 billion.

2020SABIC’s total market value lost 40 % due to the falling oil prices during the Corona crisis. Sabic’s total value was estimated at around US$56.5 billion in May 2020, which would make the value of Aramco’s stake around US$40 billion. However, the purchase transaction by Saudi Aramco was completed in June 2020 for the intitial value of $69.1 billion.

Global Expansion

2002 – Sabic acquires DSM’s petrochemical business in Europe with manufacturing facilities in The Netherlands, Germany and the UK.

2006 – Sabic acquires Huntsman Petrochemicals (UK) and renamed it SABIC UK Petrochemicals adding capacity to its Europe operations.

2007 – Sabic acquires GE Plastics and converts it to their Specialties Strategic Business Unit, opening the way for advanced materials.

2009 – Sabic receives approval to build a petrochemical complex in China.

2017 – Sabic CEO claims the company will spend between $3bn-$10bn on acquisitions over the next 10 years.

2018 – Sabic acquires 24.99% of Clariant. Sabic and Clariant sign a long-term strategic partnership to collaborate on high-performance materials.

2019 – Due to unfavourable market conditions, Clariant and SABIC decide to suspend negotiations regarding their joint-venture in High Performance Materials.

Sabic Today

  • Presence: over 50 countries
  • Employees: >33.000
  • Headquarter: Riyadh (Saudi Arabia)
  • 2019 Net profits: US$ 1.5 billion.
  • 2019 Total assets: US$ 82.6 billion
  • 2019 Production: 72.6 million metric tons

Circular Economy and Bioplastics

  • Bio-Polycarbonate

SABIC was the first to launch bio-polycarbonate based on certified renewable feedstock in 2019. This is sold under the Lexan resin brand.

Read more: Sabic Bio-Polycarbonate

  • Trucircle

Trucircle solutions encompasses circular materials and technologies including:

    • certified circular polymers from the chemical recycling of mixed plastic waste;
    • certified bio-based renewable polymers;
    • new polycarbonate (PC) based on certified renewable feedstock;
    • mechanical recycled polymers.

Read more: Sabic Recycling Strategy and  Sabic Vision on Circular Economy

  • Bio-PE

Sabic, DSM and UPM Partnership

UPM Biofuels supplies bio-based feedstock from the residue of the pulping process under the brand UPM BioVerno to SABIC who converts it into Bio-ethylene under the TRUCIRCLE brand. DSM uses the Trucircle bio-ethylene to produce bio-based Dyneema fiber.

Read More: DSM, SABIC and UPM Biofuels Partner for Bio-based Dyneema

  • Bio-PP

Sabic supplies Bio-PP to UPM for their Formi EcoAce brand, a biocomposite used in food contact, personal care and consumer goods made by injection molding or extrusion.

Read more: Sabic Supplies Bio-PP for UPM Wood Biocomposites


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