Top 50 US chemical firms
During a 2020 colored by COVID-19, chemical sales declined for almost all firms.
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2020 | 2019 | COMPANY | CHEMICAL SALES ($ MILLIONS) | CHANGE FROM 2019 | CHEMICAL SALES AS % OF TOTAL SALES | SECTOR | CHEMICAL OPERATING PROFITa ($ MILLIONS) | CHANGE FROM 2019 | OPERATING PROFIT MARGINb | HEADQUARTERS | IDENTIFIABLE CHEMICAL ASSETS ($ MILLIONS) | OPERATING RETURN ON CHEMICAL ASSETSd | |
1 | 1 | Dow | $38,542 | –10.3% | 100.0% | Diversified | $2,556 | –27.4% | 6.6% | Midland, Michigan | $61,470 | 4.2% | |
2 | 3 | LyondellBasell Industries | 23,407 | –13.7 | 84.3 | Petrochemicals | 2,938 | –36.3 | 12.6 | Houston | n/a | n/a | |
3 | 2 | ExxonMobil | 23,091 | –15.8 | 12.9 | Petrochemicals | 2,675 | 180.1 | 11.6 | Irving, Texas | 38,059 | 7.0 | |
4 | 4 | DuPont | 20,397 | –5.2 | 100.0 | Diversified | 1,661 | –40.4 | 8.1 | Wilmington, Delaware | 70,904 | 2.3 | |
5 | 7 | Air Productsd | 8,856 | –0.7 | 100.0 | Industrial gases | 2,138 | 0.8 | 24.1 | Allentown, Pennsylvania | 25,169 | 8.5 | |
6 | 8 | Mosaic | 8,682 | –2.5 | 100.0 | Fertilizers | 693 | 27.7 | 8.0 | Tampa, Florida | 19,790 | 3.5 | |
7 | 6 | Eastman Chemical | 8,473 | –8.6 | 100.0 | Diversified | 1,095 | –16.3 | 12.9 | Kingsport, Tennessee | 16,083 | 6.8 | |
8 | 5 | Chevron Phillips Chemical | 8,439 | –9.6 | 100.0 | Petrochemicals | n/a | n/a | n/a | The Woodlands, Texas | 17,026 | n/a | |
9 | 10 | Westlake Chemical | 7,504 | –7.6 | 100.0 | Petrochemicals | 465 | –32.9 | 6.2 | Houston | 13,835 | 3.4 | |
10 | 14 | Corteva Agriscience | 6,461 | 3.3 | 45.4 | Agrochemicals | 625 | –9.9 | 9.7 | Wilmington, Delaware | 13,099 | 4.8 | |
11 | 9 | Ecolabe | 5,960 | –33.1 | 50.5 | Process services | 1,106 | –10.4 | 18.6 | Saint Paul, Minnesota | n/a | n/a | |
12 | 12 | Lubrizol | 5,950 | –8.5 | 100.0 | Specialties | 1,000 | 0.0 | 16.8 | Wickliffe, Ohio | n/a | n/a | |
13 | 11 | Huntsman | 5,903 | –11.4 | 100.0 | Diversified | 190 | –58.6 | 3.2 | The Woodlands, Texas | 8,713 | 2.2 | |
14 | 13 | Celanese | 5,655 | –10.2 | 100.0 | Diversified | 715 | –30.7 | 12.6 | Irving, Texas | 10,909 | 6.6 | |
15 | 16 | Chemours | 4,969 | –10.1 | 100.0 | Diversified | 447 | 2.8 | 9.0 | Wilmington, Delaware | 7,082 | 6.3 | |
16 | 15 | Honeywell International | 4,833 | –15.0 | 14.8 | Fluorochemicals | n/a | n/a | n/a | Charlotte, North Carolina | n/a | n/a | |
17 | 17 | Olin | 4,830 | –11.3 | 83.9 | Chlorine chemistry | 44 | –88.7 | 0.9 | Clayton, Missouri | 7,319 | 0.6 | |
18 | 18 | FMC | 4,642 | 0.7 | 100.0 | Agrochemicals | 1,034 | 4.2 | 22.3 | Philadelphia | 10,186 | 10.2 | |
19 | 19 | CF Industries | 4,124 | –10.2 | 100.0 | Fertilizers | 595 | –36.4 | 14.4 | Deerfield, Illinois | 12,023 | 4.9 | |
20 | 20 | Occidental Petroleum | 3,733 | –9.0 | 21.0 | Petrochemicals | 664 | –16.9 | 17.8 | Houston | 4,326 | 15.3 | |
21 | 22 | Albemarle | 3,129 | –12.8 | 100.0 | Specialties | 506 | –24.1 | 16.2 | Charlotte, North Carolina | 10,451 | 4.8 | |
22 | 21 | Trinseo | 3,036 | –19.6 | 100.0 | Polymers | 63 | 118.7 | 2.1 | Berwyn, Pennsylvania | 2,845 | 2.2 | |
23 | 25 | H.B. Fullerf | 2,790 | –3.7 | 100.0 | Specialties | 218 | –3.4 | 7.8 | Saint Paul, Minnesota | 4,037 | 5.4 | |
24 | 26 | Tronox | 2,758 | 4.4 | 100.0 | Pigments | 274 | 134.2 | 9.9 | Stamford, Connecticut | 6,568 | 4.2 | |
25 | 24 | Cabotd | 2,614 | –21.7 | 100.0 | Specialties | 151 | –54.9 | 5.8 | Boston | 2,781 | 5.4 | |
26 | 23 | Hexion | 2,510 | –25.6 | 100.0 | Specialties | 45 | –61.5 | 1.8 | Columbus, Ohio | 4,002 | 1.1 | |
27 | 27 | Ashlandᵈ | 2,326 | –6.7 | 100.0 | Specialties | 134 | –17.3 | 5.8 | Wilmington, Delaware | 6,877 | 1.9 | |
28 | 29 | Avantor | 2,044 | 1.7 | 32.0 | Laboratory chemicals | n/a | n/a | n/a | Radnor, Pennsylvania | n/a | n/a | |
29 | 28 | NewMarket | 2,011 | –8.2 | 100.0 | Fuel additives | 312 | –7.6 | 15.5 | Richmond, Virginia | 1,934 | 16.1 | |
30 | 31 | Stepan | 1,870 | 0.6 | 100.0 | Detergents | 183 | 25.9 | 9.8 | Northfield, Illinois | 1,752 | 10.4 | |
31 | 30 | W. R. Grace | 1,730 | –11.7 | 100.0 | Specialties | 268 | –37.8 | 15.5 | Columbia, Maryland | 3,766 | 7.1 | |
32 | 33 | Kronos Worldwide | 1,639 | –5.3 | 100.0 | Pigments | 133 | –16.1 | 8.1 | Dallas | 2,037 | 6.5 | |
33 | 32 | Kraton | 1,563 | –13.4 | 100.0 | Polymers, pine chemicals | 69 | –20.8 | 4.4 | Houston | 2,461 | 2.8 | |
34 | 45 | Aviente | 1,497 | 50.0 | 46.2 | Pigments | 181 | 22.7 | 12.1 | Avon Lake, Ohio | 3,019 | 6.0 | |
35 | 39 | Ingevity | 1,216 | –5.9 | 100.0 | Pine chemicals | 294 | –1.9 | 24.1 | North Charleston, South Carolina | 2,335 | 12.6 | |
36 | 35 | Innospec | 1,193 | –21.2 | 100.0 | Fuel additives | 75 | –50.1 | 6.3 | Englewood, Colorado | 1,397 | 5.4 | |
37 | 38 | AdvanSix | 1,158 | –10.8 | 100.0 | Polymers | 63 | 4.7 | 5.4 | Parsippany, New Jersey | 1,263 | 5.0 | |
38 | 37 | Orion Engineered Carbons | 1,136 | –23.0 | 100.0 | Carbon black | 96 | –41.1 | 8.4 | Houston | 1,390 | 6.9 | |
39 | 43 | CMC Materialsd,g | 1,116 | 7.6 | 100.0 | Electronic materials | 219 | 23.2 | 19.6 | Aurora, Illinois | 2,377 | 9.2 | |
40 | 36 | Americas Styrenics | 1,116 | –24.9 | 100.0 | Polymers | 87 | –56.0 | 7.8 | The Woodlands, Texas | 606 | 14.3 | |
41 | 34 | PQ | 1,107 | –29.3 | 100.0 | Inorganics | 148 | –33.8 | 13.4 | Malvern, Pennsylvania | 3,198 | 4.6 | |
42 | — | ChampionXe | 1,054 | n.m. | 55.5 | Process services | 88 | n.m. | 8.4 | The Woodlands, Texas | n/a | n/a | |
43 | 40 | 3M | 1,036 | –16.9 | 3.2 | Fluorochemicals | n/a | n/a | n/a | Saint Paul, Minnesota | n/a | n/a | |
44 | 44 | Ferro | 959 | –5.8 | 100.0 | Pigments | 91 | –5.2 | 9.5 | Mayfield Heights, Ohio | 1,961 | 4.7 | |
45 | 42 | Koppers | 910 | –12.4 | 54.5 | Coal tar chemicals | 112 | 15.3 | 12.3 | Pittsburgh | 960 | 11.7 | |
46 | 41 | Genesis Energy | 886 | –20.4 | 48.6 | Inorganics | 130 | –41.9 | 14.7 | Houston | 1,962 | 6.6 | |
47 | — | Balchem | 593 | 12.9 | 84.2 | Nutritional ingredients | 91 | 23 | 15.4 | New Hampton, New York | 875 | 10.4 | |
48 | 48 | GCP Applied Technologies | 519 | –10.4 | 57.5 | Construction chemicals | 53 | –6.5 | 10.2 | Cambridge, Massachusetts | 444 | 11.9 | |
49 | 49 | Minerals Technologies | 511 | –11.1 | 32.0 | Inorganics | 68 | –18.4 | 13.3 | New York City | 560 | 12.1 | |
50 | — | American Vanguard | 459 | –2.0 | 100.0 | Agrochemicals | 18 | –30.2 | 4.0 | Newport Beach, California | 680 | 2.7 |
Sources: Company documents, C&EN analysis.
Note: n/a means not available, and n.m. means comparison not meaningful.
a Chemical sales less administrative expenses and cost of sales.
b Chemical operating profit as a percentage of chemical sales.
c Chemical operating profit as a percentage of identifiable chemical assets.
d Fiscal year ended Sept. 30, 2020.
e Chemical sales include a significant amount of nonchemical products.
f Fiscal year ended Nov. 30, 2020.
g Formerly called Cabot Microelectronics.