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Chemical giant Eastman Chemical Company (EMN - Analyst Report) recently received recognition from a number of leading industry, business and trade publications for its strong financial performance.

The company was drafted into the Bloomberg Businessweek Top 50, which lists the S&P 500 companies with the best recent performance and outlook for the future. Eastman Chemical stood seventh on the list. The listing was done based on several factors including one-year and five-year risk-adjusted returns, consensus analyst recommendations, and projected earnings growth.

Chemical & Engineering News also acknowledged Eastman Chemical as the “Company of the Year” for the acquisition of Solutia Inc. The acquisition of Solutia represents a significant step toward attaining the company’s goal of boosting its presence in the emerging markets.

In particular, the acquisition will significantly accelerate Eastman Chemical’s growth efforts and offer excellent growth opportunities in Asia Pacific. By leveraging infrastructure in the region, Eastman Chemical expects to have a compound annual growth rate of roughly 10% in Asia Pacific for the next several years.

Institutional Investor also voted Eastman Chemical as one of the "Most Honored Companies" in a survey of buy-side and sell-side analysts.  The company`s Chairman and CEO Jim Rogers was named among the Top 40 Power Players by ICIS, the largest petrochemical market information provider globally.

Eastman Chemical’s diversified chemical portfolio along with its integrated and diverse downstream businesses remains its strength. It also benefits from business restructuring, cost-cutting measures and increased capacity additions

Eastman Chemical currently holds a Zacks Rank #2 (Buy).

Other companies in the chemical industry worth considering are Arkema S.A. (ARKAY), are, PetroLogistics LP (PDH - Snapshot Report) and Akzo Nobel NV (AKZOY) with all retaining a Zacks Rank #1 (Strong Buy).

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