Sunrise Group Recognized 8th among ICIS 2024 Global Top 100 chemical distributors
Company transforms business model from conventional chemical trading to holistic supply chain service model.
NEW YORK, May 28, 2024 /PRNewswire/ -- Sunrise Group, a leading operator in chemical distribution, has generated US$4.26-billion in sales and secured eighth place on the ICIS Top 100 Chemical Distributors list - including second place within the Asia-Pacific region.
Management at the company has lauded the effort of employees and said recognition by the ICIS is the result of hard work, dedication and commitment. The accolade is significant because this is the third time it has been shortlisted in the global top ten list.
In 2023 Sunrise Group embarked on a transformative journey within the warehousing and logistics arena. This endeavor signaled a transformation of the Group from conventional chemical trading to a holistic supply chain service model, with specific focus on modernizing hazardous chemicals warehousing and logistics operations. This strategic pivot fueled the company's consistent growth trajectory and bolstered its prominence in the global chemical distribution landscape.
Despite subdued economic revival and tepid downstream demand in 2023 - compounded by the stark downturn in upstream raw material price - the chemical industry persevered through a challenging cycle. In keeping with its tenacious approach to service delivery, Sunrise Group navigated market changes by fortifying its market share, securing pivotal orders, and channeling concerted efforts toward enhancing production efficiencies and operational efficacy.
Consequently, Sunrise Group achieved annual sales of US$4.26 billion, marking a 19% year-on-year increase. The company also registered growth in customer and product segments, at 12% and 15%, respectively. The transformation of its business model has resulted in deeper synergy with clientele and suppliers.
Aligned with the ethos of supply-side structural reform, the company remains steadfast in its pursuit of environmentally sustainable practices, leveraging technological advancements, equipment upgrades, and process optimization to champion green and low-carbon initiatives.
By delivering comprehensive and superior supply chain solutions, Sunrise endeavors to fulfill its commitment to sustainable development objectives while reaffirming its position as a beacon of innovation and quality in the modern industrial landscape. Sunrise continues to spearhead initiatives aimed at fostering innovation, cultivating quality and galvanizing the evolution of modern, high-quality demonstration zones on a global scale.
To learn more about Sunrise Group's services, email [email protected] or visit its website at https://www.sunrisechemical.com/.
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