Top 20 Global Chemical Companies by Revenue in 2025

The 2026 Pump Friends Circle Annual Conference on Rotating Equipment Operation Management and Innovative Applications—co-organized by Pump Friends Circle and Sulzer Services China Division—will be held at the Shangri-La Hotel Suzhou from June 10–12, 2026 (registration on June 10). This year’s conference centers on two key themes: “New Quality Productive Forces” and “Equipment Upgrading and Retrofitting,” aiming to build an efficient platform for insight into industry trends, knowledge sharing, and business collaboration. The conference is supported by leading enterprises including KSB, Ebara, Wilo, Hayward Tyler, Seko, Southern Pump Industry, Haozhuo Pump Industry, Danfoss, Innominate, INOVANCE Technology, Langyang Technology, Hammelmann, Huidu Intelligence, Chishield, and Zhongyi Wood. In 2025, the global chemical industry as a whole continued its “revenue growth without profit growth” trend. Performance among 59 leading domestic and international companies diverged significantly—some achieved countercyclical growth by divesting non-core businesses, while others faced severe challenges due to rising costs and weak market demand—sparking deep concern over evolving industry dynamics. (I) Global Chemical Giants: Profitability Reigns Supreme; Strength Begets Strength Globally, the effects of market consolidation are bearing fruit. Linde delivered an outstanding performance in 2025, achieving full-year revenue of USD 34 billion—a 3% increase year-on-year—and a record high, with an operating margin approaching 30%, underscoring the industrial gas giant’s exceptional earnings resilience. PPG also performed strongly, posting a 17% surge in net profit to USD 1.571 billion—the highest in recent years. By contrast, BASF—the industry’s longstanding leader—had a stable year: full-year revenue stood at EUR 59.657 billion (approx. USD 70 billion); although sales declined slightly year-on-year, net income attributable to shareholders doubled to EUR 1.313 billion, reflecting robust core profitability. (II) Agrochemicals & European Segment: Bright Spots Amidst a Winter Companies in Europe and the agrochemical sector demonstrated notable resilience. Syngenta reported full-year revenue of USD 28.4 billion; excluding the strategically scaled-back low-margin grain trading business, actual revenue grew 2% year-on-year—evidence of steady core operations. DSM-Firmenich maintained revenue at approximately EUR 9 billion, broadly flat versus last year. Amid this cyclical downturn, multiple firms opted to sell non-core assets to optimize their portfolios and focus on high-margin core businesses—generating cash flow and gradually reshaping the competitive landscape of the global chemical industry. (III) Chinese Powerhouses: Rongsheng Petrochemical Soars Against the Tide, Turning Profitable in Q3 Among the 59 companies, Chinese enterprises stood out notably. Rongsheng Petrochemical emerged as the undisputed “Revenue Champion” in this earnings roundup, reporting full-year revenue of RMB 308.622 billion—ranking third among the top ten industry players, behind only the two national oil companies. Even more critically, its net income attributable to shareholders rose 17.09% year-on-year to RMB 848 million, signaling that its strategic pivot toward new materials is beginning to yield tangible results.

Linde’s Q3 2025 Earnings Report (as of December 4, 2025)

[First Lock In, Then Study] Series Initial coverage of $LIN. A Nasdaq-100 constituent and the largest weighting in the XLB index—industrial gas industry leader. Key points from earnings report, presentation materials, and earnings call: ・ Consumer demand (Linde classifies the electronics sector as part of the consumer market) remains resilient, primarily driven by semiconductor manufacturing—especially advanced process nodes. ・ Industrial demand remains cyclically soft; Chemicals & Energy (C&E) segment saw sequential decline. ・ Current backlog stands at USD 10 billion. ・ Anticipates sustained expansion of U.S. steel and metals industries due to tariff impacts. ・ Demand for industrial gases from commercial spaceflight is growing at double-digit rates. ・ The majority of current potential projects originate from the Americas and Asia. Completely unfamiliar with the chemical industry; the earnings call transcript appears far more engaging than the 10-Q filing. At a share price around USD 410, the current P/E ratio stands at 25—appearing reasonable for an industry leader delivering 3% revenue growth and 6% EPS growth.

Linde stock gains 1.62 percent as earnings beat estimates

Sep 23, 2026

Linde plc stock rose 1.62% after Q2 revenue of USD 9.29 billion beat estimates, with adjusted EPS at USD 4.50. The company provided FY2026 adjusted EPS guidance of USD 17.70 to 17.90.

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Linde stock gains 1.62 percent after earnings beat estimates

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