Top 50 US chemical firms
Coming out of pandemic-depressed 2020, chemical companies saw ginormous increases in sales and profits.
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2021 | 2020a | COMPANY | CHEMICAL SALES ($ MILLIONS) | CHANGE FROM 2020 | CHEMICAL SALES AS % OF TOTAL SALES | SECTOR | CHEMICAL OPERATING PROFITb ($ MILLIONS) | CHANGE FROM 2020 | OPERATING PROFIT MARGINc | HEADQUARTERS | IDENTIFIABLE CHEMICAL ASSETS ($ MILLIONS) | OPERATING RETURN ON CHEMICAL ASSETSd | |
1 | 1 | Dow | $54,968 | 42.6% | 100.0% | Diversified | $7,887 | 208.6% | 14.3% | Midland, Michigan | $62,990 | 12.5% | |
2 | 2 | LyondellBasell Industries | 38,995 | 66.6 | 84.5 | Petrochemicals | 8,009 | 172.6 | 20.5 | Houston | n/a | n/a | |
3 | 3 | ExxonMobil | 36,858 | 59.6 | 13.3 | Petrochemicals | 9,960 | 272.3 | 27.0 | Irving, Texas | 39,722 | 25.1 | |
4 | 4 | DuPont | 16,653 | -18.4 | 100.0 | Diversified | 2,652 | 59.7 | 15.9 | Wilmington, Delaware | 45,707 | 5.8 | |
5 | 8 | Chevron Phillips Chemical | 14,104 | 67.1 | 100.0 | Petrochemicals | n/a | n/a | n/a | The Woodlands, Texas | 17,777 | n/a | |
6 | 6 | Mosaic | 12,357 | 42.3 | 100.0 | Fertilizers | 2,770 | 299.5 | 22.4 | Tampa, Florida | 22,036 | 12.6 | |
7 | 7 | Eastman Chemical | 10,476 | 23.6 | 100.0 | Diversified | 1,451 | 32.5 | 13.9 | Kingsport, Tennessee | 15,519 | 9.3 | |
8 | 5 | Air Productse | 10,323 | 16.6 | 100.0 | Industrial gases | 2,215 | 3.6 | 21.5 | Allentown, Pennsylvania | 26,859 | 8.2 | |
9 | 14 | Westlake | 8,670 | 58.6 | 73.6 | Petrochemicals | 2,549 | 1,003.5 | 29.4 | Houston | 11,938 | 21.4 | |
10 | 13 | Celanese | 8,537 | 51.0 | 100.0 | Diversified | 1,938 | 171.0 | 22.7 | Irving, Texas | 11,975 | 16.2 | |
11 | 12 | Huntsman | 8,256 | 39.9 | 100.0 | Diversified | 774 | 307.4 | 9.4 | The Woodlands, Texas | 9,392 | 8.2 | |
12 | 17 | Olin | 7,327 | 51.7 | 82.2 | Chlorine chemistry | 1,614 | 3,544.0 | 22.0 | Clayton, Missouri | 7,492 | 21.5 | |
13 | 9 | Corteva Agriscience | 7,253 | 12.3 | 46.3 | Agrochemicals | 825 | 32.0 | 11.4 | Indianapolis, Indiana | 12,428 | 6.6 | |
14 | 19 | CF Industries | 6,538 | 58.5 | 100.0 | Fertilizers | 2,164 | 263.7 | 33.1 | Deerfield, Illinois | 12,375 | 17.5 | |
15 | 11 | Lubrizol | 6,500 | 9.2 | 100.0 | Specialties | 490 | -51.0 | 7.5 | Wickliffe, Ohio | n/a | n/a | |
16 | 15 | Chemours | 6,345 | 27.7 | 100.0 | Diversified | 682 | 52.6 | 10.7 | Wilmington, Delaware | 7,550 | 9.0 | |
17 | 10 | Ecolabf | 6,305 | 5.8 | 49.5 | Process services | 1,031 | -6.8 | 16.4 | Saint Paul, Minnesota | n/a | n/a | |
18 | 16 | Honeywell International | 5,402 | 11.8 | 15.7 | Fluorochemicals | n/a | n/a | n/a | Charlotte, North Carolina | n/a | n/a | |
19 | 20 | Occidental Petroleum | 5,246 | 40.5 | 20.2 | Petrochemicals | 1,544 | 132.5 | 29.4 | Houston | 4,671 | 33.1 | |
20 | 18 | FMC | 5,045 | 8.7 | 100.0 | Agrochemicals | 1,153 | 11.5 | 22.9 | Philadelphia | 10,581 | 10.9 | |
21 | 22 | Trinseo | 4,828 | 59.0 | 100.0 | Polymers | 376 | 494.1 | 7.8 | Berwyn, Pennsylvania | 4,712 | 8.0 | |
22 | 24 | Tronox | 3,572 | 29.5 | 100.0 | Pigments | 577 | 110.6 | 16.2 | Stamford, Connecticut | 5,987 | 9.6 | |
23 | 25 | Cabote | 3,409 | 30.4 | 100.0 | Specialties | 454 | 200.7 | 13.3 | Boston | 3,306 | 13.7 | |
24 | 21 | Albemarle | 3,328 | 6.4 | 100.0 | Specialties | 503 | -0.7 | 15.1 | Charlotte, North Carolina | 10,974 | 4.6 | |
25 | 23 | H.B. Fullerf,g | 3,278 | 17.5 | 100.0 | Specialties | 253 | 15.7 | 7.7 | St. Paul, Minnesota | 4,275 | 5.9 | |
26 | 26 | Hexionh | 2,550 | 1.6 | 100.0 | Specialties | 237 | 426.7 | 9.3 | Columbus, Ohio | 3,784 | 6.3 | |
27 | 28 | Avantor | 2,548 | 24.7 | 34.5 | Laboratory chemicals | n/a | n/a | n/a | Radnor, Pennsylvania | n/a | n/a | |
28 | 34 | Avientf | 2,392 | 59.8 | 49.6 | Pigments | 303 | 67.6 | 12.7 | Avon Lake, Ohio | 2,965 | 10.2 | |
29 | 29 | NewMarket | 2,356 | 17.2 | 100.0 | Fuel additives | 258 | -17.3 | 10.9 | Richmond, Virginia | 2,558 | 10.1 | |
30 | 30 | Stepan | 2,346 | 25.5 | 100.0 | Detergents | 181 | -0.9 | 7.7 | Northbrook, Illinois | 2,066 | 8.8 | |
31 | — | International Flavors & Fragrances | 2,329 | 1,638.1 | 20.0 | Food additives | 272 | 6,700.0 | 11.7 | New York City | 14,774 | 1.8 | |
32 | 27 | Ashlande | 2,111 | -9.2 | 100.0 | Specialties | 172 | 28.4 | 8.1 | Wilmington, Delaware | 6,612 | 2.6 | |
33 | 42 | ChampionXf | 1,984 | 88.1 | 64.5 | Oil field chemicals | 196 | 122.2 | 9.9 | The Woodlands, Texas | n/a | n/a | |
34 | 33 | Kraton | 1,970 | 26.0 | 100.0 | Polymers, pine chemicals | 258 | 272.4 | 13.1 | Houston | 2,655 | 9.7 | |
35 | 32 | Kronos Worldwide | 1,939 | 18.3 | 100.0 | Pigments | 197 | 48.8 | 10.2 | Dallas | 2,013 | 9.8 | |
36 | 40 | Americas Styrenics | 1,822 | 63.3 | 100.0 | Polymers | 205 | 136.6 | 11.3 | The Woodlands, Texas | 702 | 29.2 | |
37 | 37 | AdvanSix | 1,685 | 45.5 | 100.0 | Polymers | 191 | 203.8 | 11.3 | Parsippany, New Jersey | 1,312 | 14.6 | |
38 | 38 | Orion Engineered Carbons | 1,547 | 36.1 | 100.0 | Inorganics | 154 | 60.6 | 10.0 | Houston | 1,631 | 9.5 | |
39 | 36 | Innospec | 1,483 | 24.3 | 100.0 | Fuel additives | 130 | 74.2 | 8.8 | Englewood, Colorado | 1,571 | 8.3 | |
40 | 35 | Ingevity | 1,392 | 14.4 | 100.0 | Pine chemicals | 307 | 4.7 | 22.1 | North Charleston, South Carolina | 2,469 | 12.4 | |
41 | 43 | 3M | 1,205 | 16.3 | 3.4 | Fluorochemicals | n/a | n/a | n/a | Saint Paul, Minnesota | n/a | n/a | |
42 | 39 | CMC Materialse | 1,200 | 7.5 | 100.0 | Electronic materials | 215 | -1.9 | 17.9 | Aurora, Illinois | 2,151 | 10.0 | |
43 | 44 | Ferro | 1,126 | 17.4 | 100.0 | Pigments | 127 | 38.9 | 11.3 | Mayfield Heights, Ohio | 1,290 | 9.8 | |
44 | 46 | Genesis Energy | 973 | 9.9 | 45.8 | Inorganics | 167 | 28.2 | 17.1 | Houston | 2,133 | 7.8 | |
45 | 45 | Koppers | 949 | 4.3 | 56.5 | Coal tar chemicals | 143 | 27.8 | 15.0 | Pittsburgh | 1,034 | 13.8 | |
46 | — | Entegrisf | 711 | 16.7 | 30.9 | Electronic materials | 168 | 31.1 | 23.6 | Billerica, Massachusetts | 1,192 | 14.1 | |
47 | 47 | Balchem | 670 | 13.0 | 83.8 | Nutritional ingredients | 102 | 11.8 | 15.3 | New Hampton, New York | 886 | 11.5 | |
48 | 41 | Ecovyst | 611 | -44.8 | 100.0 | Inorganics | 79 | -46.7 | 12.9 | Malvern, Pennsylvania | 1,931 | 4.1 | |
49 | 49 | Minerals Technologies | 579 | 13.3 | 31.2 | Inorganics | 73 | 7.5 | 12.6 | New York City | 606 | 12.0 | |
50 | — | Goodyear Tire & Rubber | 569 | 79.5 | 5.7 | Polymers | n/a | n/a | n/a | Akron, Ohio | n/a | n/a |
Sources: Company documents, C&EN analysis.
Note: n/a means not available.
a Prior-year results have been restated to include only chemical-producing segments at Westlake after nonchemical acquisitions.
b Chemical sales less administrative expenses and cost of sales.
c Chemical operating profit as a percentage of chemical sales.
d Chemical operating profit as a percentage of identifiable chemical assets.
e Fiscal year ended Sept. 30, 2021.
f Chemical sales include a significant amount from nonchemical products.
g Fiscal year ended Nov. 27, 2021.
h Figures are for the first 9 months because the company was acquired in early 2022 and didn't publish an annual report.