Massive losses, layoffs, asset sales! How dire is the situation for global chemical giants in 2025?

PlasticVision compiled 2025 financial data for major global chemical companies—presented in a single table for an industry-wide overview: Note: ① LG Chem’s figure represents operating profit; all other companies report net profit; ② PPG’s figure is adjusted earnings per share (EPS); ③ Companies headquartered in the Eurozone report in euros; all others use U.S. dollars. Hotspots of Loss: Which Companies Fell the Hardest? Dow Chemical reported full-year 2025 net sales of USD 40 billion, down 7% year-on-year; GAAP net loss of USD 2.4 billion; operating EBIT dropped sharply from USD 2.6 billion in 2024 to USD 400 million—a decline exceeding 80%; operating cash flow fell from USD 2.9 billion to USD 1.1 billion, nearly halved. Saudi Basic Industries Corporation (SABIC) recorded 2025 revenue of SAR 116.5 billion (approx. USD 31.1 billion), down 1% year-on-year—but posted a net loss of SAR 24.7 billion (approx. USD 6.6 billion). This massive loss stems not from deteriorating operations but from large-scale asset impairments. SABIC disclosed in its financial report that it carried out significant write-downs on certain assets, while average selling prices for key products declined, severely compressing profitability. Nevertheless, the company generated free cash flow of SAR 7.2 billion, up 17% year-on-year—providing ample financial resources to support its transformation. Covestro reported 2025 sales of EUR 12.942 billion, down 8.7% year-on-year; EBITDA of EUR 740 million, down 30.9%; and a net loss of EUR 644 million—worsening from a net loss of EUR 266 million in 2024. As the world’s leading polyurethane producer, Covestro is navigating a challenging transition. CEO Markus Steilemann stated the company is advancing its “Winning Strategy,” implementing cost reductions and business restructuring to weather the industry downturn. Additionally, LyondellBasell reported 2025 sales of USD 30.153 billion, down 10% year-on-year; and a net loss of USD 738 million. In its financial report, the company acknowledged that 2025 marked one of the longest downturns ever recorded in the chemical industry, with weak global demand for polyethylene and polypropylene—particularly high inventory levels in the Chinese market—driving sharp declines in product prices and margins. Notably, LyondellBasell exceeded its 2025 cash improvement target, achieving USD 800 million in cash improvements (vs. an original target of USD 600 million), and raised its cumulative 2026 target to USD 1.3 billion. Despite extreme adversity, the company maintained positive operating cash flow of USD 2.3 billion, with a cash conversion rate as high as 95%. Defying the Trend: Who Grew Amidst the Winter? Against the backdrop of widespread losses among global chemical giants, BASF delivered a relatively strong performance. In 2025, its sales totaled EUR 59.657 billion, down 3% year-on-year—but net profit attributable to shareholders reached EUR 1.313 billion, surging 118% year-on-year and more than doubling from EUR 602 million in 2024. BASF’s resilience stems from two key factors: first, its global leadership position in MDI, granting pricing power; and second, continued investment in emerging markets such as China. In its financial report, the company emphasized that structural adjustments and cost-cutting initiatives at its Ludwigshafen site are progressing steadily, with cumulative cost savings expected to reach EUR 2.1 billion by end-2026.

China’s Allyl Alcohol Market Development Scale and Investment Outlook & Trend Forecast Report (2026–2032)

2.1.2 Market Share of Allyl Alcohol Sales by Key Chinese Manufacturers (2022–2026) 2.2 Revenue and Market Share of Allyl Alcohol by Key Chinese Manufacturers 2.2.1 Revenue of Allyl Alcohol by Key Chinese Manufacturers (2022–2026) 2.2.2 Market Share of Allyl Alcohol Revenue by Key Chinese Manufacturers (2022–2026) 2.2.3 Ranking of Key Chinese Manufacturers by Allyl Alcohol Revenue in 2026 2.3 Pricing of Allyl Alcohol by Key Chinese Manufacturers (2022–2026) 2.4 Headquarters and Production Base Distribution of Key Chinese Allyl Alcohol Manufacturers 2.5 Establishment Dates and Commercialization Timelines of Allyl Alcohol by Key Chinese Manufacturers 2.6 Product Types and Applications of Allyl Alcohol Offered by Key Chinese Manufacturers 2.7 Industry Concentration and Competitive Landscape Analysis 2.7.1 Industry Concentration Analysis: Market Share of Top 5 Chinese Manufacturers in 2026 2.7.2 First-Tier, Second-Tier, and Third-Tier Allyl Alcohol Manufacturers (Brands) in the Chinese Market and Their 2026 Market Shares 2.8 New Investments and M&A Activities 3 Profiles of Key Enterprises 3.1 Dalian Chemical 3.1.1 Dalian Chemical: Basic Information, Allyl Alcohol Production Bases, Headquarters, Competitors, and Market Position 3.1.2 Dalian Chemical’s Allyl Alcohol Product Specifications, Technical Parameters, and Market Applications 3.1.3 Dalian Chemical’s Allyl Alcohol Sales Volume, Revenue, Pricing, and Gross Margin in the Chinese Market (2022–2026) 3.1.4 Company Profile and Core Business of Dalian Chemical 3.1.5 Latest Corporate Developments of Dalian Chemical 3.2 LyondellBasell 3.2.1 LyondellBasell: Basic Information, Allyl Alcohol Production Bases, Headquarters, Competitors, and Market Position 3.2.2 LyondellBasell’s Allyl Alcohol Product Specifications, Technical Parameters, and Market Applications 3.2.3 LyondellBasell’s Allyl Alcohol Sales Volume, Revenue, Pricing, and Gross Margin in the Chinese Market (2022–2026) 3.2.4 Company Profile and Core Business of LyondellBasell 3.2.5 Latest Corporate Developments of LyondellBasell 3.3 Crasus Chemical Inc. 3.3.1 Crasus Chemical Inc.: Basic Information, Allyl Alcohol Production Bases, Headquarters, Competitors, and Market Position 3.3.2 Crasus Chemical Inc.’s Allyl Alcohol Product Specifications, Technical Parameters, and Market Applications 3.3.3 Crasus Chemical Inc.’s Allyl Alcohol Sales Volume, Revenue, Pricing, and Gross Margin in the Chinese Market (2022–2026) 3.3.4 Company Profile and Core Business of Crasus Chemical Inc. 3.3.5 Latest Corporate Developments of Crasus Chemical Inc. 3.4 Zouping Mingxing Chemical Co., Ltd. 3.4.1 Zouping Mingxing Chemical Co., Ltd.: Basic Information, Allyl Alcohol Production Bases, Headquarters, Competitors, and Market Position 3.4.2 Zouping Mingxing Chemical Co., Ltd.’s Allyl Alcohol Product Specifications, Technical Parameters, and Market Applications 3.4.3 Zouping Mingxing Chemical Co., Ltd.’s Allyl Alcohol Sales Volume, Revenue, Pricing, and Gross Margin in the Chinese Market (2022–2026) 3.4.4 Company Profile and Core Business of Zouping Mingxing Chemical Co., Ltd.

LyondellBasell Industries Q3 Earnings Call Highlights

2 days ago

LyondellBasell reported Q3 EBITDA of $1.5 billion driven by strong intermediates performance and plans to sell its Houston refinery site. The company expects resilient polyethylene demand in Q4 despite potential margin pressure from higher feedstock costs.

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