Top 20 Global Chemical Companies by Revenue in 2025

International Flavors & Fragrances Inc. (IFF) announced its fourth-quarter and full-year 2025 financial results. Fourth-quarter net sales totaled $2.589 billion, down 7% year-on-year from $2.771 billion. Operating profit for the quarter was $97 million, down 24% from $127 million a year earlier. Net income attributable to the company was $18 million, compared to a net loss of $60 million in the prior-year period. Full-year net sales amounted to $10.89 billion, down 5% from $11.184 billion in 2024. Full-year operating loss was $382 million, versus operating income of $766 million in 2024. Full-year net loss attributable to shareholders was $374 million, compared to net income of $263 million in 2024. Celanese Corporation announced its fourth-quarter and full-year 2025 financial results. Fourth-quarter net sales totaled $2.204 billion, down from $2.358 billion a year earlier. Operating profit for the quarter was $93 million, versus an operating loss of $1.419 billion in the prior-year period. Net income for the quarter was $22 million, versus a net loss of $1.922 billion a year earlier. Full-year net sales amounted to $9.544 billion, down from $10.268 billion in 2024. Full-year operating loss was $786 million, versus an operating loss of $720 million in 2024. Full-year net loss was $1.151 billion, versus a net loss of $1.534 billion in 2024. Eastman Chemical Company announced its fourth-quarter and full-year 2025 financial results. Fourth-quarter sales totaled $1.973 billion, down from $2.245 billion a year earlier. Net income attributable to the company was $105 million, versus $330 million in the prior-year period. Full-year sales amounted to $8.752 billion, down from $9.382 billion in 2024. Full-year net income attributable to the company was $474 million, versus $905 million in 2024. DuPont de Nemours, Inc. announced its fourth-quarter and full-year 2025 financial results. Fourth-quarter net sales totaled $1.693 billion, up slightly from $1.689 billion a year earlier. Net loss attributable to common shareholders was $126 million, versus a net loss of $117 million in the prior-year period. Full-year net sales amounted to $6.849 billion, up from $6.719 billion in 2024. Full-year net loss attributable to common shareholders was $779 million, versus net income of $703 million in 2024. DuPont previously completed the spin-off of its Electronics Materials business into an independent, publicly traded company named Qnity Electronics. Huntsman Corporation announced its fourth-quarter and full-year 2025 financial results. Fourth-quarter revenue totaled $1.355 billion, down from $1.452 billion a year earlier. Net loss attributable to the company was $96 million, versus a net loss of $141 million in the prior-year period. Full-year revenue amounted to $5.683 billion, down from $6.036 billion in 2024. Full-year net loss attributable to the company was $284 million, versus a net loss of $189 million in 2024. Industrial Gases Linde plc announced its fourth-quarter and full-year 2025 financial results. Fourth-quarter sales totaled $8.764 billion, up from $8.282 billion a year earlier.

A Major Shift in Wind Direction! Dow and Celanese Adjust Global Capacity Layouts; Asia Emerges as the New Growth Hub

This year, under mounting pressure from high energy costs, intensifying market competition, and supply-chain volatility, the global chemical industry has continued deep strategic realignment. Recently, two international chemical giants—Dow Chemical and Celanese—successively implemented measures including layoffs, plant closures, and capacity relocations, proactively scaling back inefficient, high-cost operations in Europe, the U.S., and South Korea, while simultaneously deepening their presence in high-potential Asian markets. A global reshaping of the chemical industry landscape is now well underway. European Operations Under Pressure, Dow Cuts Costs While Doubling Down on China On June 3, Dow Chemical announced the layoff of 605 employees in the Netherlands—a key initiative under its “Transform Beyond” cost-reduction and efficiency-enhancement program. Dow operates three major production bases in the Netherlands, each with distinct functions and substantial scale: The Terneuzen site—the largest Dow facility outside the U.S.—hosts 16 plants and approximately 3,200 employees, producing nearly 800 industrial chemicals and plastic products; the Delfzijl site, with over 50 years of operational history, is the world’s largest isocyanate production base; and the Dordrecht site specializes in specialty plastics for medical and food applications, with multiple products widely used in packaging and composite adhesives. Persistent losses have been the core driver behind Dow’s repeated workforce and capacity optimizations. In recent years, Dow has launched multiple rounds of global cost-cutting initiatives: two large-scale layoffs in 2023 and 2025, and a comprehensive restructuring plan unveiled in January 2026 targeting 4,500 global layoffs and aiming to generate $2 billion in additional annual operating profit. Financial data shows Dow posted a full-year 2025 net loss exceeding $2.4 billion; in Q1 2026, revenue declined 6% year-on-year, with a single-quarter loss of $445 million—signaling sharply escalating operational pressure. Meanwhile, geopolitical factors have disrupted shipping through the Strait of Hormuz, constraining nearly half of global ethylene and polyethylene supply; raw material shortages and rising prices are expected to persist throughout 2026. While scaling back European operations, Dow continues strengthening its commitment to the Chinese market. In April 2026, Dow Silicones (Zhangjiagang) officially broke ground on an expansion project adding 2,500 metric tons per year of silicone polymers. The site already hosts mature production lines for alcohol ethers, polyether polyols, siloxanes, and fumed silica, and is further developing downstream products—including silicone resins, liquid silicone rubber, and sealants—forming a complete industrial chain and serving as a critical manufacturing hub for Dow in China. On the personnel front, Karen S. Carter, Dow’s Chief Operating Officer, will assume the role of CEO and join the Board of Directors effective July 1, 2026, to lead the implementation of the company’s next strategic phase. Major Capacity Layout Adjustment, Celanese Shifts Focus Toward China and India Following closely behind Dow, specialty materials company Celanese announced on June 4 the immediate closure of its engineering plastics compounding plant in Ulsan, South Korea. All local production capacity will be transferred to Celanese’s facilities in Nanjing and Shenzhen, China, and Silvassa, India.

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