C&EN US Top 50

Top 50 US chemical firms

Though some firms saw profits decline, 2022 was overall a strong year for chemical makers.

RANK
2022	2021^a	COMPANY	CHEMICAL SALES ($ MILLIONS)	CHANGE FROM 2021	CHEMICAL SALES AS % OF TOTAL SALES	SECTOR	CHEMICAL OPERATING PROFIT^b ($ MILLIONS)	CHANGE FROM 2021	OPERATING PROFIT MARGIN^c	HEADQUARTERS	IDENTIFIABLE CHEMICAL ASSETS ($ MILLIONS)	OPERATING RETURN ON CHEMICAL ASSETS^d
1	1	Dow	$56,902	3.5%	100.0%	Diversified	$5,702	-27.7%	10.0%	Midland, Michigan	$60,603	9.4%
2	2	ExxonMobil	47,498	12.7	11.9	Petrochemicals	7,356	-43.2	15.5	Irving, Texas	44,372	16.6
3	3	LyondellBasell Industries	39,476	1.2	78.2	Petrochemicals	4,168	-48.0	10.6	Houston	n/a	n/a
4	6	Mosaic	19,125	54.8	100.0	Fertilizers	5,258	89.8	27.5	Tampa, Florida	23,386	22.5
5	5	Chevron Phillips Chemical	14,180	0.5	100.0	Petrochemicals	n/a	n/a	n/a	The Woodlands, Texas	18,656	n/a
6	4	DuPont	13,017	-21.8	100.0	Diversified	2,022	-23.8	15.5	Wilmington, Delaware	41,355	4.9
7	8	Air Products^f	12,699	23.0	100.0	Industrial gases	2,357	6.4	18.6	Allentown, Pennsylvania	27,193	8.7
8	14	CF Industries	11,186	71.1	100.0	Fertilizers	5,571	157.4	49.8	Deerfield, Illinois	13,313	41.8
9	9	Westlake	11,008	27.0	69.7	Petrochemicals	2,416	-5.2	21.9	Houston	13,978	17.3
10	7	Eastman Chemical	10,580	1.0	100.0	Diversified	1,147	-21.0	10.8	Kingsport, Tennessee	14,667	7.8
11	10	Celanese	9,673	13.3	100.0	Diversified	1,382	-28.7	14.3	Irving, Texas	26,272	5.3
12	13	Corteva Agriscience	8,476	16.9	48.6	Agrochemicals	1,300	57.6	15.3	Indianapolis	14,097	9.2
13	11	Huntsman	7,797	-5.6	100.0	Diversified	710	-8.3	9.1	The Woodlands, Texas	8,220	8.6
14	12	Olin	7,776	6.1	82.9	Chlorine chemistry	1,570	-2.8	20.2	Clayton, Missouri	6,984	22.5
15	24	Albemarle	7,320	120.0	100.0	Specialties	2,479	393.2	33.9	Charlotte, North Carolina	15,457	16.0
16	17	Ecolab^e	6,944	10.1	48.9	Process services	977	-5.2	14.1	St. Paul, Minnesota	n/a	n/a
17	16	Chemours	6,794	7.1	100.0	Diversified	788	15.5	11.6	Wilmington, Delaware	7,640	10.3
18	19	Occidental Petroleum	6,757	28.8	18.4	Petrochemicals	2,508	62.4	37.1	Houston	4,558	55.0
19	15	Lubrizol	6,700	3.1	100.0	Specialties	n/a	n/a	n/a	Wickliffe, Ohio	n/a	n/a
20	18	Honeywell International	5,996	11.0	16.9	Fluorochemicals	n/a	n/a	n/a	Charlotte, North Carolina	n/a	n/a
21	20	FMC	5,802	15.0	100.0	Agrochemicals	1,237	7.3	21.3	Philadelphia	11,171	11.1
22	21	Trinseo	4,966	2.9	100.0	Polymers	-127	def	def	Wayne, Pennsylvania	3,760	def
23	23	Cabot^f	4,321	26.8	100.0	Specialties	572	26.0	13.2	Boston	3,525	16.2
24	25	H.B. Fuller^e,g	3,749	14.4	100.0	Specialties	323	27.8	8.6	St Paul, Minnesota	4,464	7.2
25	22	Tronox	3,454	-3.3	100.0	Pigments	543	-5.9	15.7	Stamford, Connecticut	6,306	8.6
26	--	Ascend Performance Materials	3,000	-6.3	100.0	Polymers	n/a	n/a	n/a	Houston	n/a	n/a
27	27	Avantor	2,898	13.7	38.6	Laboratory chemicals	n/a	n/a	n/a	Radnor, Pennsylvania	n/a	n/a
28	30	Stepan	2,773	18.2	100.0	Detergents	199	10.1	7.2	Northbrook, Illinois	2,433	8.2
29	29	NewMarket	2,765	17.3	100.0	Fuel additives	355	37.7	12.8	Richmond, Virginia	2,407	14.8
30	33	ChampionX^e	2,493	25.7	65.5	Oil field chemicals	150	-23.5	6.0	The Woodlands, Texas	n/a	n/a
31	32	Ashland^f	2,391	13.3	100.0	Specialties	288	67.4	12.0	Wilmington, Delaware	6,213	4.6
32	28	Avient	2,355	-1.6	69.3	Pigments	301	-0.7	12.8	Avon Lake, Ohio	2,703	11.1
33	31	International Flavors & Fragrances	2,339	0.4	18.8	Food additives	271	-0.4	11.6	New York City	10,877	2.5
34	37	Americas Styrenics	2,060	13.0	100.0	Polymers	212	3.6	10.3	The Woodlands, Texas	677	31.4
35	39	Orion Engineered Carbons	2,031	31.3	100.0	Inorganics	200	29.7	9.8	Spring, Texas	1,889	10.6
36	36	Hexion	2,000	5.3	100.0	Specialties	n/a	n/a	n/a	Columbus, Ohio	n/a	n/a
37	40	Innospec	1,964	32.4	100.0	Fuel additives	187	43.7	9.5	Englewood, Colorado	1,604	11.7
38	38	AdvanSix	1,946	15.5	100.0	Polymers	227	18.6	11.7	Parsippany, New Jersey	1,495	15.2
39	35	Kronos Worldwide	1,930	-0.5	100.0	Pigments	160	-19.0	8.3	Dallas	1,934	8.3
40	41	Ingevity	1,668	19.9	100.0	Pine chemicals	341	11.0	20.4	North Charleston, South Carolina	2,737	12.5
41	47	Entegris^e	1,380	94.0	42.1	Electronic materials	219	30.6	15.9	Billerica, Massachusetts	7,536	2.9
42	45	Genesis Energy	1,258	29.3	45.1	Inorganics	307	83.9	24.4	Houston	2,358	13.0
43	42	3M	1,205	0.4	3.5	Fluorochemicals	n/a	n/a	n/a	St. Paul, Minnesota	n/a	n/a
44	46	Koppers	1,192	25.7	60.2	Coal tar chemicals	141	-1.4	11.8	Pittsburgh	1,017	13.8
45	--	LSB Industries	902	62.1	100.0	Fertilizers	308	205.3	34.2	Oklahoma City	1,440	21.4
46	--	CVR Partners	836	56.9	100.0	Fertilizers	320	137.8	38.3	Sugar Land, Texas	1,100	29.1
47	49	Ecovyst	820	34.2	100.0	Inorganics	139	76.6	17.0	Malvern, Pennsylvania	1,885	7.4
48	--	Livent	813	93.4	100.0	Specialties	337	848.2	41.4	Philadelphia	2,074	16.2
49	48	Balchem	789	17.9	83.8	Nutritional ingredients	118	15.7	15.0	Montvale, New Jersey	1,346	8.8
50	--	Sisecam Resources	720	33.3	100.0	Inorganics	134	137.0	18.6	Atlanta	672	19.9

Sources: Company documents, C&EN analysis.
Note: n/a means not available; def means operating profits were a deficit.
a Prior-year results have been restated to accommodate changes in the reporting of chemical sales at ExxonMobil and Hexion.
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 Chemical sales include a significant amount of nonchemical products.
f Fiscal year ended Sept. 30, 2022.
g Fiscal year ended Dec. 3, 2022.