20 Companies! Summary of Global Chemical Giants’ 2024 Financial Results!

As of March 1, major global chemical companies—including BASF, Dow, Covestro, Arkema, DuPont, Huntsman, Lanxess, Celanese, Syensqo, Trinseo, INEOS, Honeywell, Clariant, Eastman, SABIC, Chemours, LyondellBasell, ExxonMobil, LG Chem, and Avient—have released their 2024 financial results. Given market conditions in 2024, several giants announced a series of cost-cutting measures. Specifically: BASF On February 28, BASF released its full-year 2024 financial results. Total sales amounted to €65.3 billion (approximately RMB 49.649 billion), down from €68.9 billion in 2023—a decrease of €3.6 billion. EBITDA stood at €6.7 billion, down €500 million year-on-year (€7.2 billion in 2023); EBIT was €2.0 billion, down €206 million; net income reached €1.3 billion, compared to €225 million in 2023—significantly higher than the prior year. By the end of 2024, BASF had incurred approximately €900 million in one-time costs related to its cost-savings program. Dow On January 30, Dow Inc. released its latest financial report. Full-year 2024 net sales totaled $43.0 billion, down from $44.6 billion in 2023—a decrease of $1.6 billion; GAAP net income was $1.2 billion, up from $660 million in 2023; operating EBIT was $2.6 billion, down from $2.8 billion in 2023. Cash flow from operating activities for continuing operations amounted to $2.9 billion, down from $5.2 billion in 2023. The report indicated that Dow is implementing measures to cut costs by $1 billion, including eliminating approximately 1,500 positions globally. Covestro On February 26, Covestro released its fiscal 2024 results: sales declined 1.4% to €14.2 billion (€14.4 billion in the prior year), primarily due to lower selling prices; EBITDA remained stable, dipping slightly by 0.8% to €1.1 billion—meeting expectations; net profit was -€266 million (compared to -€198 million in the prior year), while free operating cash flow stood at €89 million (€232 million in the prior year). In Q4 2024 alone, Covestro’s sales rose 0.9% year-on-year to approximately €3.4 billion; EBITDA surged 44.7% year-on-year to €191 million; and free operating cash flow jumped 246.6% year-on-year to €253 million. Arkema On February 28, Arkema released its full-year 2024 results: sales totaled €9.5 billion, remaining stable year-on-year. Volumes increased by 2.4%, driven by growth in Asia’s specialty materials business. EBITDA amounted to €1.532 billion, with an EBITDA margin of 16.1%, slightly up year-on-year. Recently, Arkema has invested in several major growth initiatives—including acquiring PIAM’s polyimide business, acquiring Ashland’s and Dow’s adhesives businesses, and adding new capacity within its Advanced Materials division—to serve attractive markets such as bio-based consumer goods, new energy, electrification, 3D printing, and sports.

Top 20 Global Chemical Companies by Revenue in 2025

Ecolab announced its fiscal 2025 fourth-quarter and full-year results. Fourth-quarter net sales were $4.196 billion, up 5% year-on-year from $4.005 billion. Operating profit for the quarter was $712 million, up 22% from $583 million in the prior-year period. Net income attributable to the company was $564 million, up 19% from $473 million. Full-year net sales totaled $16.081 billion, up 2% from $15.741 billion in 2024. Full-year operating profit was $2.738 billion, down 2% from $2.802 billion. Net income attributable to the company was $2.076 billion, down 2% from $2.112 billion. Westlake Corporation announced its fiscal 2025 fourth-quarter and full-year results. Fourth-quarter net sales were $2.533 billion, down from $2.843 billion in the prior-year period. Net loss attributable to the company for the quarter was $544 million, improved from a net loss of $782 million in the prior-year period. Full-year net sales totaled $11.17 billion, down from $12.142 billion in 2024. Net loss attributable to the company for the full year was $1.508 billion, compared to net income of $602 million in 2024. International Flavors & Fragrances Inc. (IFF) announced its fiscal 2025 fourth-quarter and full-year results. Fourth-quarter net sales were $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 in the prior-year period. Net income attributable to shareholders was $18 million, compared to a net loss of $60 million in the prior-year period. Full-year net sales totaled $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. Net loss attributable to shareholders for the full year was $374 million, compared to net income of $263 million in 2024. Celanese announced its fiscal 2025 fourth-quarter and full-year results. Fourth-quarter net sales were $2.204 billion, down from $2.358 billion in the prior-year period. 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 in the prior-year period. Full-year net sales totaled $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 fiscal 2025 fourth-quarter and full-year results. Fourth-quarter sales were $1.973 billion, down from $2.245 billion in the prior-year period. Net income attributable to the company for the quarter was $105 million, down from $330 million in the prior-year period. Full-year sales totaled $8.752 billion, down from $9.382 billion in 2024. Net income attributable to the company for the full year was $474 million, down from $905 million in 2024.

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