BASF Touts Growth in North American Chemical, Battery Markets

February 26, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Executives at BASF SE (Ludwigshafen, Germany) plan to implement a series of cost-saving measures this year, but are upbeat about the company's prospects in the North American market, where it continues to dominate the Chemical Processing Industry and is making headway in the market for battery components.

Industrial Info is tracking more than $2.4 billion worth of active and planned projects from BASF across North America, more than 80% of which is attributed to the production of petrochemicals or agricultural chemicals. In a quarterly earnings-related presentation, BASF executives pointed to the company's expansion of a plant in Geismar, Louisiana, as a significant step forward in its North American operations. BASF also is at work on a series of smaller-scale expansions and upgrades at its chemical-production plants across the U.S.