20 Companies! Summary of 2024 Financial Performance of Chemical Industry Giants

As of March 1, global chemical industry giants—including BASF, Dow, Covestro, Arkema, DuPont, Huntsman, Lanxess, Celanese, Syensqo, Trinseo, INEOS, Honeywell, Clariant, Eastman, SABIC, Chemours, LyondellBasell, ExxonMobil, LG Chem, and Avient—have all released their 2024 financial reports. Given market conditions in 2024, several giants announced a series of cost-reduction initiatives. Specifically: BASF On February 28, BASF released its full-year 2024 financial results. Total sales for 2024 amounted to €65.3 billion (approximately RMB 49.649 billion), down from €68.9 billion in 2023—a decrease of €3.6 billion year-on-year. 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 exceeding the prior year’s figure. 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 reduction of $1.6 billion year-on-year; 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. Operating cash flow from 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 $1.0 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); 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; 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 reached €1.532 billion, with an EBITDA margin of 16.1%, slightly up year-on-year. Recently, Arkema has invested in several major growth projects, including the acquisition of PIAM’s polyimide business, the acquisition of Ashland’s and Dow’s adhesives businesses, and new capacity additions in its Advanced Materials division—targeting attractive markets such as bio-based consumer goods, new energy, electrification, 3D printing, and sports.

China Solvents Industry Market Development Scale and Strategic Outlook Report (2026–2032)

Chapter II Analysis of the Domestic Market Development Environment for the Solvents Industry Section I Policy Environment Analysis of the Solvents Industry I. Industry Regulatory System II. Key Regulations Governing the Industry III. Key Policies Affecting the Industry IV. Key Industry Standards V. Impact Analysis of the Policy Environment on the Industry Section II Economic Environment Analysis of the Solvents Industry I. Global Economic Environment II. China’s Economic Environment III. Impact Analysis of the Economic Environment on the Industry Section III Technological Environment Analysis of the Solvents Industry I. Current Level and Characteristics of Industry Technology II. Technology Analysis of Representative Enterprises Section IV Social Environment Analysis of the Solvents Industry I. Social Environment Factors II. Impact Analysis of the Social Environment on the Industry Chapter III Current Development Status and Supply-Demand Analysis of the Domestic Solvents Market Section I Analysis of the Current Development Status of the Solvents Industry Section II Analysis of the Solvents Industry’s Supply Situation Section III Analysis of Price Trends in the Solvents Industry Section IV Analysis of Demand Conditions in the Solvents Industry Section V Import-Export Analysis of the Solvents Industry Section VI Supply-Demand Balance Analysis of the Solvents Industry Chapter IV Industrial Chain Analysis of the Domestic Solvents Market Section I Industrial Chain of the Solvents Industry Section II Upstream Industry Impact Analysis I. Current Development Status of the Upstream Industry II. Development Forecasts for the Upstream Industry III. Impact Analysis of the Upstream Industry on the Solvents Industry Section III Downstream Industry Impact Analysis I. Current Development Status of the Downstream Industry II. Development Forecasts for the Downstream Industry III. Impact Analysis of the Downstream Industry on the Solvents Industry Chapter V Competitive Landscape Analysis of the Domestic Solvents Market Section I Concentration Analysis of the Solvents Industry I. Enterprise Concentration Analysis II. Regional Concentration Analysis Section II Competitive Dynamics Analysis of the Solvents Industry I. Price Competition Analysis II. Cost Competition Analysis III. Technology Competition Analysis Section III Strategies for Enhancing Competitiveness in the Solvents Industry Chapter VI Analysis of Key Enterprises in the Solvents Industry Section I BASF SE I. Business Operations Analysis II. Product Portfolio Analysis III. Marketing Network Analysis IV. Corporate Development Strategy Analysis Section II China Petroleum & Chemical Corporation (Sinopec) I. Business Operations Analysis II. Product Portfolio Analysis III. Marketing Network Analysis IV. Corporate Development Strategy Analysis Section III The Dow Chemical Company I. Business Operations Analysis II. Product Portfolio Analysis III. Marketing Network Analysis IV. Corporate Development Strategy Analysis Section IV Eastman Chemical Company I. Business Operations Analysis